Institution

Norges Bank

13F for June 30, 2026, filed August 12, 2026 · SEC CIK 1374170 · Holdings history from December 31, 2000

Reported value: $1.00tn
Positions we cover: 1,546
Copy, a year: +13.9%
Copy Sharpe ratio: 0.74

Copy-performance statistics: March 21, 2014 to November 2, 2026. Holdings history can start earlier than the price data used for performance.

Historical holdings

Holdings across the available history, including securities outside our stock coverage. Select a date to view the holdings for that period.

Holdings date Find a security

1,617 reported entries for June 30, 2026.

Issuer	Class / type	Reported value	Quantity
STANDARDAERO INC85423L103 · SARO	COM	$219.5m	7,337,516
STANLEY BLACK & DECKER INC854502101 · SWK	COM	$166.6m	1,769,666
STANTEC INC85472N109 · STN	COM	$90.9m	1,319,706
STAR BULK CARRIERS CORP.Y8162K204 · SBLK	SHS PAR	$9.9m	396,000
STARBUCKS CORP855244109 · SBUX	COM	$1.3bn	12,985,276
STARWOOD PPTY TR INC85571B105 · STWD	COM	$28.5m	1,742,303
STATE STR CORP857477103 · STT	COM	$268.0m	1,580,331
STEEL DYNAMICS INC858119100 · STLD	COM	$568.2m	2,476,326
STELLANTIS N.VN82405106 · STLA	SHS	$243.8m	42,902,186
STEPAN CO858586100 · SCL	COM	$7.4m	132,700
STERIS PLCG8473T100 · STE	SHS USD	$251.0m	1,192,173
STERLING INFRASTRUCTURE INC859241101 · STRL	COM	$178.1m	212,189
STEWART INFORMATION SVCS COR860372101 · STC	COM	$5.5m	83,900
STIFEL FINL CORP860630102 · SF	COM	$143.8m	2,061,688
STOKE THERAPEUTICS INC86150R107 · STOK	COM	$5.3m	163,200
STONECO LTDG85158106 · STNE	COM CL A	$30.4m	2,802,890
STONEX GROUP INC861896108 · SNEX	COM	$146.3m	1,234,843
STRATEGIC ED INC86272C103 · STRA	COM	$3.9m	50,900
STRATEGY INC594972408 · MSTR	CL A NEW	$345.9m	3,979,476
STRIDE INC86333M108 · LRN	COM	$49.3m	571,610
STRYKER CORPORATION863667101 · SYK	COM	$1.5bn	4,892,615
STUBHUB HLDGS INC86384P109 · STUB	CL A	$8.3m	641,351
SUMMIT THERAPEUTICS INC86627T108 · SMMT	COM	$20.1m	1,382,519
SUN CMNTYS INC866674104 · SUI	COM	$652.2m	5,439,467
SUN LIFE FINANCIAL INC.866796105 · SLF	COM	$499.7m	6,370,400
SUNBELT RENTALS HOLDINGS INC866966104 · SUNB	SHS	$530.1m	7,273,452
SUNOCOCORP LLC86765Q106	COM SHS LLC	$95.8m	1,415,751
SUNRUN INC86771W105 · RUN	COM	$7.5m	560,019
SUNSHINE SILVER MNG & REFNG867866105 · SSMR	COMMON STOCK	$13.2m	1,000,000
SUNSTONE HOTEL INVS INC NEW867892101 · SHO	COM	$12.1m	1,059,040
SUPER GROUP SGHC LIMITEDG8588X103 · SGHC	ORD SHS	$29.0m	2,139,042
SUPER MICRO COMPUTER INC86800U302 · SMCI	COM NEW	$185.1m	6,312,211
SYMBOTIC INC87151X101 · SYM	CLASS A COM	$554,683	12,340
SYNAPTICS INC87157D109 · SYNA	COM	$3.6m	28,713
SYNCHRONY FINANCIAL87165B103 · SYF	COM	$305.7m	4,019,209
SYNOPSYS INC871607107 · SNPS	COM	$716.6m	1,606,493
SYSCO CORP871829107 · SYY	COM	$594.7m	7,115,401
T-MOBILE US INC872590104 · TMUS	COM	$1.3bn	7,909,295
TAIWAN SEMICONDUCTOR MANUFAC874039100 · TSM	SPONSORED ADS	$13.7m	28,610
TAKE-TWO INTERACTIVE SOFTWAR874054109 · TTWO	COM	$840.6m	3,362,476
TAL ED GROUP874080104 · TAL	SPONSORED ADS	$39.0m	4,073,516
TALEN ENERGY CORP87422Q109 · TLN	COM	$222.8m	579,885
TAPESTRY INC876030107 · TPR	COM	$238.6m	1,630,233
TARGA RES CORP87612G101 · TRGP	COM	$1.1bn	4,216,259
TARGET CORP87612E106 · TGT	COM	$799.9m	6,124,565
TARSUS PHARMACEUTICALS INC87650L103 · TARS	COM	$1.0m	16,672
TAYLOR MORRISON HOME CORP87724P106	COM	$89.9m	1,252,607
TAYSHA GENE THERAPIES INC877619106 · TSHA	COM SHS	$15.2m	2,233,600
TC ENERGY CORP87807B107 · TRP	COM	$691.0m	10,444,457
TD SYNNEX CORPORATION87162W100 · SNX	COM	$262.0m	980,091
TE CONNECTIVITY PLCG87052109 · TEL	ORD SHS	$686.6m	3,405,824
TECHNIPFMC PLCG87110105 · FTI	COM	$313.8m	4,733,333
TECK RESOURCES LTD878742204	CL B	$494.8m	8,316,517
TELEDYNE TECHNOLOGIES INC879360105 · TDY	COM	$550.9m	826,081
TELEFLEX INCORPORATED879369106 · TFX	COM	$86.8m	684,425
TELEPHONE & DATA SYS INC879433829 · TDS	COM NEW	$1.1m	30,053
TELUS CORPORATION87971M103 · TU	COM	$69.1m	6,544,651
TEMPUS AI INC88023B103 · TEM	CL A	$56.5m	975,302
TENABLE HLDGS INC88025T102 · TENB	COM	$1.2m	33,005
DEUTSCHE BK AGD18190898	NAMEN AKT	$778.2m	22,999,021
DEXCOM INC252131107 · DXCM	COM	$462.6m	6,868,090
DIAGEO PLC25243Q205	SPON ADR NEW	$803,800	10,000
DICKS SPORTING GOODS INC253393102 · DKS	COM	$148.5m	654,550
DIGITAL RLTY TR INC253868103 · DLR	COM	$3.5bn	19,290,135
DILLARDS INC254067101 · DDS	CL A	$21.4m	40,568
DINE BRANDS GLOBAL INC254423106 · DIN	COM	$4.6m	126,852
DISNEY WALT CO254687106 · DIS	COM	$1.9bn	20,249,669
DIVERSIFIED HEALTHCARE TR25525P107 · DHC	COM SH BEN INT	$3.3m	356,800
DOCUSIGN INC256163106 · DOCU	COM	$108.7m	2,446,076
DOLBY LABORATORIES INC25659T107 · DLB	COM CL A	$44.7m	850,962
DOLLAR GEN CORP256677105 · DG	COM	$177.4m	1,541,181
DOLLAR TREE INC256746108 · DLTR	COM	$276.3m	2,284,585
DOMINION ENERGY INC25746U109 · D	COM	$805.2m	11,791,396
DOMINOS PIZZA INC25754A201 · DPZ	COM	$246.2m	831,571
DONALDSON INC257651109 · DCI	COM	$94.3m	1,050,604
DONEGAL GROUP INC257701201 · DGICA	CL A	$1.2m	61,000
DOORDASH INC25809K105 · DASH	CL A	$915.0m	4,958,309
DORMAN PRODS INC258278100 · DORM	COM	$38.0m	278,200
DOUGLAS DYNAMICS INC25960R105 · PLOW	COM	$4.9m	90,600
DOVER CORP260003108 · DOV	COM	$363.3m	1,620,058
DOW HLDGS INC260557103 · DOW	COM	$254.5m	9,303,665
DOXIMITY INC26622P107 · DOCS	CL A	$39.2m	1,889,029
DPC HOLDINGS PLCG2R11M108 · DPC	ORDINARY SHARES	$735,900	15,000
DRAFTKINGS INC NEW26142V105 · DKNG	COM CL A	$299.3m	11,848,138
DROPBOX INC26210C104 · DBX	CL A	$31.5m	1,145,662
DT MIDSTREAM INC23345M107 · DTM	COMMON STOCK	$118.7m	808,837
DUOLINGO INC26603R106 · DUOL	CL A COM	$37.0m	321,546
DUPONT DE NEMOURS INC26614N201 · DD	COMMON STOCK	$124.8m	920,190
MDA SPACE LTD55293N109	COM	$72.3m	1,750,697
MDU RES GROUP INC552690109 · MDU	COM	$55.9m	2,633,250
MEDLINE INC58507V107 · MDLN	COM CL A	$334.3m	8,475,413
MEDPACE HLDGS INC58506Q109 · MEDP	COM	$120.2m	226,954
MEDTRONIC PLCG5960L103 · MDT	SHS	$1.3bn	16,551,016
MERCADOLIBRE INC58733R102 · MELI	COM	$462.7m	272,595
MERCK & CO INC58933Y105 · MRK	COM	$4.8bn	36,983,784
MERCURY GENL CORP NEW589400100 · MCY	COM	$9.5m	89,100
MERIT MED SYS INC589889104 · MMSI	COM	$49.3m	711,160
MERITAGE HOMES CORP59001A102 · MTH	COM	$78.1m	931,561
META PLATFORMS INC30303M102 · META	CL A	$18.4bn	32,726,903
METHANEX CORP59151K108 · MEOH	COM	$44.3m	960,526

Values use the units disclosed in the source. Where a dollar scale cannot be established, the original amount is shown as filed. Rows may include separate allocations, options and principal amounts; these are kept separate from the covered-stock portfolio used for performance.

How copying its 13F would have done

CopyS&P 500 $10,000 copying Norges Bank's usable filed holdings in companies we cover from March 21, 2014, rebalancing at the first weekly close after each usable filing and holding until the next, against the S&P 500 (total return). Missing prices carry their last observed value. 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 −33.0% (S&P 500 −31.8%); beta 1.02; alpha +0.1% a year (t = 0.14); last 12 months +11.6% against +12.1%.

Reported value by quarter

Norges Bank: 13F reported value Total reported value where the source's dollar units can be established. Earlier filings in thousands of dollars are converted; dates with unresolved value units are omitted.

View chart data

Period	Reported value
2000-12-31	$719.7M
2001-03-31	$634.7M
2001-06-30	$1.5B
2001-09-30	$1.5B
2001-12-31	$4.8B
2002-03-31	$5.5B
2002-06-30	$5.8B
2002-09-30	$6.5B
2002-12-31	$7.5B
2003-03-31	$9.8B
2003-06-30	$12.3B
2012-06-30	$124.7B
2012-09-30	$148.4B
2013-03-31	$154.2B
2013-06-30	$161B
2013-09-30	$171.4B
2013-12-31	$173.6B
2014-03-31	$177.2B
2014-06-30	$370.6B
2014-09-30	$184.6B
2014-12-31	$196.8B
2015-03-31	$204.1B
2015-06-30	$200.1B
2015-09-30	$190.8B
2015-12-31	$201.2B
2016-03-31	$203.3B
2016-06-30	$210.5B
2016-09-30	$211.6B
2016-12-31	$228.8B
2017-03-31	$243.7B
2017-06-30	$251.9B
2017-09-30	$263.5B
2017-12-31	$279B
2018-03-31	$276.4B
2018-06-30	$291.3B
2018-09-30	$307.9B
2018-12-31	$268.8B
2019-03-31	$309.5B
2019-06-30	$323.6B
2019-09-30	$326.5B
2019-12-31	$358.4B
2020-03-31	$280.6B
2020-06-30	$347.3B
2020-09-30	$376.4B
2020-12-31	$428.3B
2021-03-31	$436.8B
2021-06-30	$461.3B
2021-09-30	$452B
2021-12-31	$486.4B
2022-03-31	$458.8B
2022-06-30	$386.8B
2022-09-30	$376.1B
2022-12-31	$414.9B
2023-03-31	$456.9B
2023-06-30	$506.7B
2023-09-30	$492.8B
2023-12-31	$572.3B
2024-03-31	$633.6B
2024-06-30	$669.4B
2024-09-30	$715.9B
2024-12-31	$762.1B
2025-03-31	$712.5B
2025-06-30	$801.1B
2025-09-30	$0
2025-12-31	$934.8B
2026-03-31	$0
2026-06-30	$1T

Latest covered holdings and moves

Covered holdings as of June 30, 2026.

Company	Share of portfolio	Value	Shares	Change in shares
NVDANVIDIA Corporation	6.50%	$65.2bn	325.95M	New
AAPLApple Inc.	5.50%	$55.2bn	190.73M	New
MSFTMicrosoft Corporation	3.82%	$38.3bn	102.73M	New
AMZNAmazon	3.34%	$33.5bn	140.57M	New
GOOGLAlphabet Inc. (Class A)	2.88%	$28.9bn	80.93M	New
AVGOBroadcom	2.48%	$24.9bn	65.97M	New
METAMeta Platforms	1.84%	$18.4bn	32.73M	New
MUMicron Technology	1.75%	$17.5bn	15.18M	New
TSLATesla, Inc.	1.63%	$16.3bn	38.81M	New
LLYLilly (Eli)	1.37%	$13.8bn	11.47M	New
AMDAdvanced Micro Devices	1.35%	$13.6bn	23.36M	New
JPMJPMorgan Chase	1.18%	$11.8bn	36.12M	New
INTCIntel	0.86%	$8.6bn	61.71M	New
AMATApplied Materials	0.81%	$8.2bn	11.31M	New
JNJJohnson & Johnson	0.81%	$8.1bn	31.83M	New
LRCXLam Research	0.78%	$7.9bn	18.12M	New
WMTWalmart	0.65%	$6.5bn	57.42M	New
CSCOCisco	0.64%	$6.4bn	54.84M	New
ABBVAbbVie	0.64%	$6.4bn	25.55M	New
AZNAstrazeneca PLC	0.63%	$6.3bn	33.86M	New
COSTCostco	0.60%	$6.1bn	6.47M	New
MAMastercard	0.60%	$6.0bn	11.75M	New
KLACKLA Corporation	0.59%	$5.9bn	19.57M	New
VVisa Inc.	0.56%	$5.6bn	16.22M	New
UNHUnitedHealth Group	0.53%	$5.3bn	12.74M	New
GEGE Aerospace	0.51%	$5.1bn	13.69M	New
BACBank of America	0.48%	$4.8bn	83.79M	New
MRKMerck & Co.	0.47%	$4.8bn	36.98M	New
UBSUBS Group AG	0.47%	$4.8bn	95.85M	New
HDThe Home Depot	0.47%	$4.7bn	13.38M	New
SNDKSandisk	0.47%	$4.7bn	2.06M	New
PGProcter & Gamble	0.47%	$4.7bn	31.83M	New
WFCWells Fargo	0.46%	$4.6bn	55.49M	New
MRVLMarvell Technology	0.42%	$4.2bn	14.20M	New
KOThe Coca-Cola Company	0.42%	$4.2bn	52.03M	New
NFLXNetflix	0.41%	$4.1bn	57.95M	New
WELLWelltower	0.41%	$4.1bn	18.15M	New
RYRoyal Bank Of Canada	0.41%	$4.1bn	19.91M	New
GEVGE Vernova	0.40%	$4.0bn	3.42M	New
TXNTexas Instruments	0.39%	$3.9bn	13.22M	New
CVXChevron Corporation	0.38%	$3.8bn	22.96M	New
RTXRTX Corporation	0.38%	$3.8bn	19.95M	New
MSMorgan Stanley	0.38%	$3.8bn	17.98M	New
ORCLOracle Corporation	0.36%	$3.7bn	25.00M	New
PLTRPalantir Technologies Inc.	0.36%	$3.6bn	31.08M	New
DLRDigital Realty	0.34%	$3.5bn	19.29M	New
LINLinde plc	0.34%	$3.4bn	6.64M	New
APHAmphenol	0.34%	$3.4bn	19.19M	New
PANWPalo Alto Networks	0.33%	$3.3bn	9.75M	New
ADIAnalog Devices	0.32%	$3.2bn	8.17M	New
QCOMQualcomm	0.30%	$3.0bn	16.21M	New
STXSeagate Technology	0.30%	$3.0bn	3.10M	New
WDCWestern Digital	0.29%	$3.0bn	4.63M	New
NEENextEra Energy	0.28%	$2.8bn	32.12M	New
CRWDCrowdStrike	0.28%	$2.8bn	3.67M	New
GILDGilead Sciences	0.28%	$2.8bn	21.97M	New
BLKBlackRock	0.27%	$2.7bn	2.83M	New
AXPAmerican Express	0.27%	$2.7bn	7.99M	New
CCitigroup	0.27%	$2.7bn	19.28M	New
MCDMcDonald's	0.27%	$2.7bn	9.88M	New
PEPPepsiCo	0.26%	$2.6bn	19.42M	New
GSGoldman Sachs	0.26%	$2.6bn	2.60M	New
GLWCorning Inc.	0.26%	$2.6bn	10.24M	New
TMOThermo Fisher Scientific	0.25%	$2.6bn	5.09M	New
PNCPNC Financial Services	0.25%	$2.5bn	10.15M	New
TDToronto Dominion Bank	0.24%	$2.4bn	20.02M	New
IBMIBM	0.24%	$2.4bn	8.42M	New
VMRKVivmark Residential	0.24%	$2.4bn	34.84M	New
VZVerizon	0.23%	$2.3bn	54.31M	New
BKNGBooking Holdings	0.22%	$2.2bn	12.43M	New
TJXTJX Companies	0.22%	$2.2bn	14.47M	New
DEDeere & Company	0.21%	$2.2bn	3.41M	New
BMYBristol Myers Squibb	0.21%	$2.1bn	36.87M	New
HWMHowmet Aerospace	0.21%	$2.1bn	7.90M	New
ABTAbbott Laboratories	0.21%	$2.1bn	23.35M	New
ETNEaton Corporation	0.21%	$2.1bn	4.92M	New
SCHWCharles Schwab Corporation	0.21%	$2.1bn	22.66M	New
ANETArista Networks	0.21%	$2.1bn	12.25M	New
UNPUnion Pacific Corporation	0.20%	$2.1bn	7.55M	New
AMGNAmgen	0.20%	$2.0bn	5.63M	New
COFCapital One	0.20%	$2.0bn	9.98M	New
ISRGIntuitive Surgical	0.20%	$2.0bn	4.95M	New
DISThe Walt Disney Company	0.19%	$1.9bn	20.25M	New
PHParker Hannifin	0.19%	$1.9bn	1.98M	New
UBERUber	0.19%	$1.9bn	26.71M	New
FTNTFortinet	0.19%	$1.9bn	12.45M	New
PGRProgressive Corporation	0.19%	$1.9bn	8.65M	New
CMCSAComcast	0.19%	$1.9bn	76.54M	New
SHOPShopify Inc.	0.19%	$1.9bn	16.41M	New
CVSCVS Health	0.19%	$1.9bn	18.04M	New
DELLDell Technologies	0.18%	$1.9bn	4.31M	New
LOWLowe's	0.18%	$1.8bn	8.27M	New
DHRDanaher Corporation	0.18%	$1.8bn	9.54M	New
BNYBNY Mellon	0.17%	$1.7bn	11.75M	New
PLDPrologis	0.17%	$1.7bn	12.52M	New
VLOValero Energy	0.17%	$1.7bn	6.40M	New
TAT&T	0.16%	$1.6bn	79.27M	New
VRTVertiv	0.16%	$1.6bn	4.86M	New
BNSBank Of Nova Scotia	0.16%	$1.6bn	18.39M	New
SPGIS&P Global	0.16%	$1.6bn	3.87M	New
INVHInvitation Homes	0.15%	$1.6bn	51.51M	New
BMOBank Of Montreal	0.15%	$1.6bn	8.80M	New
AJGArthur J. Gallagher & Co.	0.15%	$1.5bn	6.73M	New
SYKStryker Corporation	0.15%	$1.5bn	4.89M	New
ELVElevance Health	0.15%	$1.5bn	3.96M	New
APPApplovin Corp	0.15%	$1.5bn	2.92M	New
PFEPfizer	0.15%	$1.5bn	61.51M	New
VRTXVertex Pharmaceuticals	0.15%	$1.5bn	2.97M	New
URIUnited Rentals	0.14%	$1.4bn	1.27M	New
TTTrane Technologies	0.14%	$1.4bn	2.92M	New
INTUIntuit	0.14%	$1.4bn	5.38M	New
PWRQuanta Services	0.14%	$1.4bn	1.93M	New
CRMSalesforce	0.14%	$1.4bn	8.84M	New
SHWSherwin-Williams	0.14%	$1.4bn	4.02M	New
PSAPublic Storage	0.14%	$1.4bn	4.34M	New
SOSouthern Company	0.14%	$1.4bn	14.36M	New
APDAir Products	0.14%	$1.4bn	4.67M	New
REGRegency Centers	0.14%	$1.4bn	17.15M	New
EXRExtra Space Storage	0.14%	$1.4bn	9.30M	New
NEMNewmont	0.13%	$1.3bn	14.35M	New
SBUXStarbucks	0.13%	$1.3bn	12.99M	New
TMUST-Mobile US	0.13%	$1.3bn	7.91M	New
AEMAgnico Eagle Mines LTD	0.13%	$1.3bn	8.44M	New
ENBEnbridge Inc	0.13%	$1.3bn	24.02M	New
MDTMedtronic	0.13%	$1.3bn	16.55M	New
CDNSCadence Design Systems Inc	0.13%	$1.3bn	3.40M	New
CMICummins	0.13%	$1.3bn	1.78M	New
KKRKKR & Co.	0.13%	$1.3bn	13.80M	New
ORLYO'Reilly Automotive	0.13%	$1.3bn	13.73M	New
MMM3M	0.13%	$1.3bn	7.81M	New
EQIXEquinix	0.13%	$1.3bn	1.20M	New
SPCXSpace Exploration Technologies Corp	0.12%	$1.2bn	7.28M	New
ROSTRoss Stores	0.12%	$1.2bn	5.83M	New
NOWServiceNow	0.12%	$1.2bn	12.46M	New
CSXCSX Corporation	0.12%	$1.2bn	25.95M	New
JCIJohnson Controls	0.12%	$1.2bn	8.26M	New
USBU.S. Bancorp	0.12%	$1.2bn	19.94M	New
KMIKinder Morgan	0.12%	$1.2bn	37.60M	New
UNMUnum Group	0.12%	$1.2bn	13.26M	New
CPCanadian Pacific Kansas City LTD	0.12%	$1.2bn	13.67M	New
FITBFifth Third Bancorp	0.12%	$1.2bn	20.91M	New
UDRUDR, Inc.	0.12%	$1.2bn	29.45M	New
FDXFedEx	0.12%	$1.2bn	3.72M	New
MCKMcKesson	0.12%	$1.2bn	1.53M	New
HOODRobinhood Markets	0.11%	$1.1bn	11.41M	New
CMCanadian Imperial Bank Of Commerce	0.11%	$1.1bn	9.90M	New
BKRBaker Hughes	0.11%	$1.1bn	20.40M	New
TRGPTarga Resources	0.11%	$1.1bn	4.22M	New
ICEIntercontinental Exchange	0.11%	$1.1bn	9.16M	New
TEVATeva Pharmaceutical Industries LTD	0.11%	$1.1bn	32.30M	New

Company	Bought (value)	Shares
NVDANVIDIA Corporation	$65.2bn	325.95M
AAPLApple Inc.	$55.2bn	190.73M
MSFTMicrosoft Corporation	$38.3bn	102.73M
AMZNAmazon	$33.5bn	140.57M
GOOGLAlphabet Inc. (Class A)	$28.9bn	80.93M
AVGOBroadcom	$24.9bn	65.97M
METAMeta Platforms	$18.4bn	32.73M
MUMicron Technology	$17.5bn	15.18M
TSLATesla, Inc.	$16.3bn	38.81M
LLYLilly (Eli)	$13.8bn	11.47M
AMDAdvanced Micro Devices	$13.6bn	23.36M
JPMJPMorgan Chase	$11.8bn	36.12M
INTCIntel	$8.6bn	61.71M
AMATApplied Materials	$8.2bn	11.31M
JNJJohnson & Johnson	$8.1bn	31.83M

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

None this quarter.

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

No positions in covered companies were sold out this quarter.

Technology37.5%
Financials12.7%
Health Care10.2%
Consumer Discretionary9.9%
Industrials8.6%
Communication Services7.1%
Real Estate4.0%
Consumer Staples4.0%
Materials2.6%
Energy1.9%
Utilities1.7%

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 backtestMarch 21, 2014 to November 2, 2026	+13.9%	+13.6%	0.74	0.74	−33.0%	1.02
2018 onwardsJanuary 5, 2018 to November 2, 2026	+13.9%	+13.9%	0.65	0.66	−33.0%	1.01
Last three yearsNovember 3, 2023 to November 2, 2026	+21.2%	+21.8%	1.10	1.16	−17.5%	1.02
Last yearNovember 7, 2025 to November 2, 2026	+13.6%	+14.2%	0.76	0.84	−9.1%	1.04

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.