Institution

Ethic Inc.

13F for the quarter to June 30, 2026, filed July 29, 2026 · SEC CIK 1780570

Reported value: $8.0bn
Positions we cover: 1,184
Copy, a year: +12.4%
Copy Sharpe ratio: 0.53

How copying its 13F would have done

CopyS&P 500 $10,000 copying Ethic Inc.'s filed holdings in companies we cover from February 18, 2022, buying on the first trading day after each 13F was filed and holding until the next, against the S&P 500 (total return). Marked weekly, log scale. Before costs and taxes; misses trading within each quarter and anything 13F does not show (shorts, cash, bonds, non-US holdings).

Biggest drop −20.8% (S&P 500 −20.5%); beta 1.01; alpha −1.6% a year (t = −1.54); last 12 months +11.9% against +12.1%.

Reported value by quarter

Ethic Inc.: 13F reported value Total value of all positions in each quarter's 13F, as filed (values before 2023 were filed in thousands of dollars and are converted).

View chart data

Period	Reported value
2021-12-31	$1.3B
2022-03-31	$1.4B
2022-06-30	$1.4B
2022-09-30	$1.5B
2022-12-31	$1.9T
2023-03-31	$2.5B
2023-06-30	$2.7B
2023-09-30	$2.8B
2023-12-31	$3.4B
2024-03-31	$4B
2024-06-30	$4.3B
2024-09-30	$4B
2024-12-31	$5B
2025-03-31	$4.9B
2025-06-30	$5.6B
2025-09-30	$6.1B
2025-12-31	$6.5B
2026-03-31	$6.4B
2026-06-30	$8B

Holdings and moves

Company	Share of portfolio	Value	Shares	Change in shares
NVDANVIDIA Corporation	6.58%	$527.6m	2.64M	+7.8% Added
AAPLApple Inc.	5.83%	$467.7m	1.62M	+8.3% Added
MSFTMicrosoft Corporation	3.68%	$295.0m	790.8K	+10.9% Added
GOOGLAlphabet Inc. (Class A)	2.84%	$227.5m	636.5K	New
AMZNAmazon	2.54%	$204.0m	855.9K	+8.9% Added
MUMicron Technology	1.91%	$153.0m	132.6K	+5.5% Added
AVGOBroadcom	1.90%	$152.6m	403.9K	+12.5% Added
LLYLilly (Eli)	1.36%	$109.1m	90.9K	+7.6% Added
AMDAdvanced Micro Devices	1.25%	$100.4m	172.9K	+8.0% Added
METAMeta Platforms	1.19%	$95.3m	169.2K	+5.5% Added
AMATApplied Materials	1.03%	$82.7m	114.4K	+5.6% Added
TSLATesla, Inc.	1.02%	$81.9m	194.8K	+9.2% Added
LRCXLam Research	0.94%	$75.1m	173.3K	+0.8% Added
VVisa Inc.	0.88%	$70.6m	205.8K	+10.2% Added
INTCIntel	0.87%	$69.5m	498.0K	+5.9% Added
CSCOCisco	0.80%	$64.3m	547.7K	+5.5% Added
CATCaterpillar Inc.	0.80%	$63.9m	60.0K	+6.8% Added
KLACKLA Corporation	0.66%	$53.1m	176.1K	+935.4% Added
GSGoldman Sachs	0.65%	$52.1m	51.5K	+2.8% Added
MAMastercard	0.62%	$49.5m	96.3K	+6.0% Added
TSMTaiwan Semiconductor Manufacturing Co LTD	0.60%	$48.0m	100.6K	+16.9% Added
MRKMerck & Co.	0.57%	$46.0m	358.0K	+9.7% Added
UNHUnitedHealth Group	0.54%	$43.6m	104.9K	+12.5% Added
ASMLAsml Holding NV	0.53%	$42.4m	21.3K	+7.0% Added
MSMorgan Stanley	0.52%	$41.9m	200.4K	+0.6% Added
GEVGE Vernova	0.49%	$39.2m	33.3K	+3.7% Added
NFLXNetflix	0.47%	$38.0m	531.9K	+4.2% Added
HDThe Home Depot	0.47%	$37.8m	107.2K	+6.1% Added
IBMIBM	0.46%	$37.1m	132.0K	+4.4% Added
GLWCorning Inc.	0.44%	$35.3m	138.3K	−7.8% Reduced
ORCLOracle Corporation	0.43%	$34.5m	235.6K	+9.6% Added
SNDKSandisk	0.40%	$31.9m	14.0K	+10.7% Added
PANWPalo Alto Networks	0.39%	$31.5m	92.3K	+1.0% Added
WDCWestern Digital	0.39%	$31.3m	49.0K	−0.7% Reduced
JPMJPMorgan Chase	0.38%	$30.1m	92.0K	+9.9% Added
BNYBNY Mellon	0.37%	$29.9m	207.1K	+2.1% Added
BACBank of America	0.37%	$29.7m	520.9K	+11.3% Added
TXNTexas Instruments	0.37%	$29.5m	98.9K	+12.3% Added
AXPAmerican Express	0.36%	$29.0m	85.6K	+5.1% Added
TJXTJX Companies	0.36%	$28.5m	188.4K	+8.4% Added
JNJJohnson & Johnson	0.35%	$27.9m	109.8K	+6.1% Added
GEGE Aerospace	0.34%	$27.3m	72.9K	+28.1% Added
WELLWelltower	0.33%	$26.6m	117.1K	+5.9% Added
VZVerizon	0.32%	$25.7m	606.4K	+7.6% Added
TMOThermo Fisher Scientific	0.30%	$24.3m	48.5K	+0.6% Added
ABTAbbott Laboratories	0.29%	$23.3m	256.5K	+14.2% Added
PNCPNC Financial Services	0.28%	$22.8m	92.7K	+9.6% Added
DISThe Walt Disney Company	0.28%	$22.8m	236.8K	+9.9% Added
BKNGBooking Holdings	0.28%	$22.5m	126.2K	+2483.6% Added
TAT&T	0.28%	$22.2m	1.07M	+3.6% Added
PWRQuanta Services	0.27%	$21.9m	30.3K	+1.4% Added
PFEPfizer	0.27%	$21.2m	882.2K	+10.2% Added
DEDeere & Company	0.26%	$21.2m	33.4K	+7.0% Added
ETNEaton Corporation	0.26%	$21.1m	49.5K	+8.1% Added
ABBVAbbVie	0.26%	$21.0m	83.6K	+3.5% Added
DELLDell Technologies	0.26%	$20.8m	48.2K	+22.9% Added
AMGNAmgen	0.25%	$20.3m	56.2K	+11.2% Added
CRWDCrowdStrike	0.25%	$20.3m	26.5K	+3.6% Added
QCOMQualcomm	0.25%	$20.0m	108.0K	+7.9% Added
ADPAutomatic Data Processing	0.24%	$19.6m	87.7K	+22.9% Added
CBChubb Limited	0.24%	$19.3m	56.8K	−19.2% Reduced
WMTWalmart	0.24%	$19.3m	170.8K	−1.8% Reduced
LOWLowe's	0.24%	$19.1m	86.5K	+0.7% Added
CCitigroup	0.24%	$19.0m	135.9K	+6.2% Added
VRTVertiv	0.24%	$19.0m	56.8K	+9.9% Added
PGRProgressive Corporation	0.24%	$18.9m	86.7K	+10.6% Added
SCHWCharles Schwab Corporation	0.23%	$18.9m	204.3K	+9.5% Added
STXSeagate Technology	0.23%	$18.8m	19.5K	−6.1% Reduced
COSTCostco	0.23%	$18.6m	19.9K	+0.4%
JCIJohnson Controls	0.23%	$18.5m	126.4K	+6.1% Added
SPGIS&P Global	0.23%	$18.2m	44.6K	+3.7% Added
SYKStryker Corporation	0.23%	$18.1m	57.5K	+3.8% Added
EXCExelon	0.23%	$18.1m	387.5K	+8.0% Added
EDConsolidated Edison	0.23%	$18.0m	162.9K	−1.2% Reduced
ASXASE Technology Holding Co., Ltd.	0.22%	$17.9m	396.8K	+0.7% Added
APHAmphenol	0.22%	$17.8m	100.9K	+0.9% Added
ANETArista Networks	0.22%	$17.8m	104.5K	+4.7% Added
ISRGIntuitive Surgical	0.22%	$17.5m	44.1K	+3.0% Added
AFLAflac	0.22%	$17.3m	147.5K	+11.9% Added
PLDPrologis	0.21%	$17.2m	127.3K	+8.0% Added
CRMSalesforce	0.21%	$17.2m	109.6K	−6.6% Reduced
USBU.S. Bancorp	0.21%	$17.0m	282.1K	+7.5% Added
UBERUber	0.21%	$16.6m	230.5K	New
HSBCHsbc Holdings PLC	0.21%	$16.6m	174.4K	+9.9% Added
ADIAnalog Devices	0.20%	$16.4m	41.2K	+13.7% Added
COFCapital One	0.20%	$16.2m	80.9K	+0.7% Added
LLoews Corporation	0.20%	$16.2m	143.2K	+12.8% Added
ALLAllstate	0.20%	$16.2m	67.9K	+26.8% Added
TRVThe Travelers Companies	0.20%	$16.1m	48.7K	−4.5% Reduced
WABWabtec	0.20%	$15.6m	58.0K	+14.6% Added
BMYBristol Myers Squibb	0.20%	$15.6m	270.9K	+17.0% Added
MRVLMarvell Technology	0.19%	$15.6m	52.4K	−22.1% Reduced
CMECME Group	0.19%	$15.6m	70.6K	+5.4% Added
ECLEcolab	0.19%	$15.2m	54.6K	+18.7% Added
TMUST-Mobile US	0.19%	$15.1m	90.2K	+10.6% Added
AWKAmerican Water Works	0.19%	$15.1m	114.8K	+0.9% Added
PCARPaccar	0.19%	$15.0m	125.0K	+5.3% Added
TTTrane Technologies	0.18%	$14.7m	29.9K	+13.5% Added
EBAYeBay Inc.	0.18%	$14.6m	130.8K	+2.7% Added
MNSTMonster Beverage	0.18%	$14.5m	151.1K	+9.5% Added
PHParker Hannifin	0.18%	$14.2m	14.5K	+2.4% Added
NOWServiceNow	0.18%	$14.2m	142.9K	+4.6% Added
HALHalliburton	0.17%	$14.1m	413.9K	+18.2% Added
DHRDanaher Corporation	0.17%	$13.9m	72.9K	+14.1% Added
STTState Street Corporation	0.17%	$13.9m	81.8K	+13.5% Added
CDNSCadence Design Systems Inc	0.17%	$13.6m	36.3K	+10.2% Added
RTXRTX Corporation	0.17%	$13.6m	71.8K	+3.6% Added
MDLZMondelez International	0.17%	$13.6m	235.3K	+21.5% Added
CLColgate-Palmolive	0.17%	$13.3m	145.5K	+11.0% Added
ELVElevance Health	0.17%	$13.2m	34.2K	+4.3% Added
FITBFifth Third Bancorp	0.16%	$13.1m	232.5K	+5.3% Added
HWMHowmet Aerospace	0.16%	$13.1m	48.7K	+11.0% Added
CICigna	0.16%	$13.1m	47.4K	+8.9% Added
PLTRPalantir Technologies Inc.	0.16%	$12.9m	110.9K	−4.0% Reduced
RSReliance, Inc.	0.16%	$12.9m	34.5K	+0.4%
CTASCintas	0.16%	$12.9m	75.6K	+6.8% Added
ITWIllinois Tool Works	0.16%	$12.6m	46.7K	+0.1%
FTNTFortinet	0.16%	$12.5m	81.2K	+8.1% Added
PEPPepsiCo	0.15%	$12.5m	92.1K	+20.6% Added
SYYSysco	0.15%	$12.4m	148.5K	+20.3% Added
MDTMedtronic	0.15%	$12.4m	158.5K	+8.7% Added
EMREmerson Electric	0.15%	$12.2m	85.4K	−0.7% Reduced
CMICummins	0.15%	$12.2m	17.1K	+13.8% Added
EQIXEquinix	0.15%	$11.9m	11.4K	+17.3% Added
GILDGilead Sciences	0.15%	$11.8m	93.8K	+9.3% Added
CTVACorteva, Inc.	0.15%	$11.8m	139.0K	+11.4% Added
SPGSimon Property Group	0.14%	$11.6m	51.7K	−8.2% Reduced
TFCTruist Financial	0.14%	$11.1m	222.7K	+21.0% Added
SAPSAP SE	0.14%	$10.9m	70.9K	−0.4%
SRESempra	0.14%	$10.9m	117.1K	−3.2% Reduced
MRSHMarsh McLennan	0.14%	$10.8m	65.0K	+6.3% Added
BIIBBiogen	0.14%	$10.8m	50.0K	+5.8% Added
KOThe Coca-Cola Company	0.13%	$10.7m	132.2K	+15.0% Added
BLKBlackRock	0.13%	$10.6m	11.1K	+8.0% Added
SPOTSpotify Technology S.a.	0.13%	$10.5m	22.9K	+7.5% Added
VRTXVertex Pharmaceuticals	0.13%	$10.4m	20.9K	+17.0% Added
EIXEdison International	0.13%	$10.3m	138.0K	+50.9% Added
SHWSherwin-Williams	0.13%	$10.3m	29.8K	+7.1% Added
METMetLife	0.13%	$10.2m	120.6K	+5.9% Added
UMCUnited Microelectronics Corp	0.13%	$10.2m	374.9K	−15.5% Reduced
NTRSNorthern Trust	0.13%	$10.2m	58.5K	+3.9% Added
RGLDRoyal Gold Inc	0.13%	$10.1m	50.5K	+7.4% Added
PEGPublic Service Enterprise Group	0.13%	$10.0m	123.6K	+1.1% Added
KDPKeurig Dr Pepper	0.13%	$10.0m	306.4K	+26.6% Added
REGNRegeneron Pharmaceuticals	0.13%	$10.0m	16.1K	+7.0% Added
AMTAmerican Tower	0.13%	$10.0m	61.2K	+10.1% Added
HPEHewlett Packard Enterprise	0.12%	$10.0m	221.3K	+16.1% Added
MCOMoody's Corporation	0.12%	$10.0m	22.0K	+9.3% Added
ROKRockwell Automation	0.12%	$9.9m	20.1K	−3.8% Reduced
DDOGDatadog, Inc.	0.12%	$9.9m	38.0K	+15.2% Added

Company	Bought (value)	Shares
GOOGLAlphabet Inc. (Class A)	$227.5m	636.5K
KLACKLA Corporation	$48.0m	159.1K
NVDANVIDIA Corporation	$38.1m	190.3K
AAPLApple Inc.	$35.8m	123.8K
MSFTMicrosoft Corporation	$29.0m	77.6K
BKNGBooking Holdings	$21.6m	121.3K
AVGOBroadcom	$16.9m	44.7K
UBERUber	$16.6m	230.5K
AMZNAmazon	$16.6m	69.7K
AZNAstrazeneca PLC	$9.8m	51.4K
MUMicron Technology	$7.9m	6.9K
LLYLilly (Eli)	$7.7m	6.4K
AMDAdvanced Micro Devices	$7.4m	12.7K
TSMTaiwan Semiconductor Manufacturing Co LTD	$7.0m	14.6K
TSLATesla, Inc.	$6.9m	16.4K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Sold (value)	Shares
IESCIES Holdings, Inc.	−$15.6m	−21.3K
HEIHeico Corp	−$4.8m	−13.4K
CBChubb Limited	−$4.6m	−13.4K
MRVLMarvell Technology	−$4.4m	−14.9K
LNGCheniere Energy, Inc.	−$4.2m	−17.4K
GLWCorning Inc.	−$3.0m	−11.7K
EFXTEnerflex Ltd.	−$2.4m	−36.3K
UHALU-haul Holding Co	−$2.2m	−34.2K
KMIKinder Morgan	−$2.2m	−69.2K
VNOMViper Energy, Inc.	−$2.1m	−49.8K
OKEOneok	−$2.1m	−23.9K
FOXAFox Corporation (Class A)	−$2.0m	−37.7K
UMCUnited Microelectronics Corp	−$1.9m	−68.8K
SOSouthern Company	−$1.9m	−19.4K
CMCSAComcast	−$1.6m	−65.7K

Change in shares on the previous quarter's 13F, valued at this quarter's reported price.

Company	Value last quarter	Shares
EFXTEnerflex Ltd.	$2.4m	36.3K
AOSA. O. Smith	$613,772	9.3K
WESTWestrock Coffee Co	$613,589	15.4K
BFAMBright Horizons Family Solutions Inc.	$592,404	7.2K
MOSThe Mosaic Company	$560,216	22.0K
TRONTron Inc.	$514,875	5.9K
TOROToro Corp.	$502,731	5.4K
ONONOn Holding AG	$489,140	14.4K
FNVFranco Nevada Corp	$417,127	1.7K
MGEEMGE Energy Inc	$413,973	25.4K
WIXWix.com Ltd.	$408,017	4.5K
HLIHoulihan Lokey, Inc.	$402,423	2.8K
PCORProcore Technologies, Inc.	$383,040	6.7K
BIOBio-rad Laboratories, Inc.	$373,246	1.3K
ELFE.l.f. Beauty, Inc.	$350,871	5.8K
PATKPatrick Industries Inc	$333,117	3.0K
RLIRLI Corp	$328,379	5.8K
SLGNSilgan Holdings Inc	$326,272	8.4K
WHDCactus, Inc.	$277,162	5.9K
PDDPDD Holdings Inc.	$269,960	2.6K
EMNEastman Chemical Co	$268,616	3.5K
MTDRMatador Resources Co	$265,861	4.2K
RYTMRhythm Pharmaceuticals, Inc.	$261,171	3.0K
MNDYMonday.com Ltd.	$244,166	3.5K
YELPYelp Inc	$243,343	9.8K
SAMBoston Beer Co Inc	$232,704	1.0K
OMFOnemain Holdings, Inc.	$223,856	4.2K
ESRTEmpire State Realty Trust, Inc.	$223,444	43.0K
TOSTToast, Inc.	$215,823	8.1K
OSKOshkosh Corp	$212,011	1.4K

Technology39.8%
Financials13.0%
Industrials10.6%
Health Care8.9%
Consumer Discretionary8.2%
Communication Services7.0%
Consumer Staples3.8%
Utilities2.4%
Real Estate2.4%
Materials2.2%
Energy1.7%

Share of the value held in companies we cover, by sector.

Period	Copy, a year	S&P 500	Sharpe	S&P 500	Biggest drop	Beta
Whole backtestFebruary 18, 2022 to November 2, 2026	+12.4%	+14.1%	0.53	0.63	−20.8%	1.01
Last three yearsNovember 3, 2023 to November 2, 2026	+19.6%	+21.8%	1.03	1.16	−17.3%	0.99
Last yearNovember 7, 2025 to November 2, 2026	+14.0%	+14.2%	0.82	0.84	−8.5%	0.97

From SEC Form 13F data sets. A 13F lists long positions in US-listed shares at the quarter's end, filed up to 45 days later; it does not show shorts, cash, bonds, non-US holdings or trades within the quarter. Positions in companies outside our coverage are not listed here. Research, not investment advice.