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
MOSAIC CO61945C103 · MOS	COM	$97.2m	4,587,982
MOTOROLA SOLUTIONS INC620076307 · MSI	COM NEW	$978.0m	2,354,901
MP MATERIALS CORP553368101 · MP	COM CL A	$108.4m	1,934,575
MSA SAFETY INC553498106 · MSA	COM	$55.0m	314,843
MSC INDL DIRECT INC553530106 · MSM	CL A	$47.3m	398,005
MSCI INC55354G100 · MSCI	COM	$481.5m	859,813
MUELLER INDS INC624756102 · MLI	COM	$177.6m	1,445,120
MUELLER WTR PRODS INC624758108 · MWA	COM SER A	$8.7m	338,100
MURPHY USA INC626755102 · MUSA	COM	$148.3m	275,214
MYERS INDS INC628464109 · MYE	COM	$3.4m	95,300
MYR GROUP INC55405W104 · MYRG	COM	$3.4m	6,802
NAPCO SEC TECHNOLOGIES INC630402105 · NSSC	COM	$871,071	22,935
NASDAQ INC631103108 · NDAQ	COM	$527.4m	6,691,237
NATERA INC632307104 · NTRA	COM	$496.2m	1,828,122
NATIONAL BEVERAGE CORP635017106 · FIZZ	COM	$8.3m	266,024
NATIONAL ENERGY SERVICES REUG6375R107 · NESR	SHS	$20.9m	698,200
NATIONAL FUEL GAS CO636180101 · NFG	COM	$84.3m	1,091,535
NATIONAL HEALTH INVS INC63633D104 · NHI	COM	$51.3m	672,355
NATIONAL PRESTO INDS INC637215104 · NPK	COM	$2.0m	16,100
NATIONAL STORAGE AFFILIATES637870106	COM SHS BEN IN	$25.3m	568,000
NATURAL GAS SVCS GROUP INC63886Q109 · NGS	COM	$2.6m	61,000
NAVAN INC639193101 · NAVN	CL A	$18.9m	826,309
NEBIUS GROUP N.V.N97284108 · NBIS	SHS CLASS A	$804.0m	2,911,196
NEKTAR THERAPEUTICS640268306 · NKTR	COM NEW	$15.0m	215,300
NEOGEN CORP640491106 · NEOG	COM	$147,130	16,366
NETAPP INC64110D104 · NTAP	COM	$645.5m	4,170,849
NETFLIX INC.64110L106 · NFLX	COM	$4.1bn	57,951,405
NETSKOPE INC64119N608 · NTSK	CL A	$7.4m	675,300
NEUROCRINE BIOSCIENCES INC64125C109 · NBIX	COM	$164.1m	973,880
NEUROPACE INC641288105 · NPCE	COM	$1.3m	79,900
NEW JERSEY RES CORP646025106 · NJR	COM	$70.1m	1,251,671
NEW YORK TIMES CO MTN BE650111107 · NYT	CL A	$4.9m	70,373
NEWMARK GROUP INC65158N102 · NMRK	CL A	$6.2m	408,000
DUTCH BROS INC26701L100 · BROS	CL A	$73.8m	1,027,033
DYCOM INDS INC267475101 · DY	COM	$143.1m	283,056
DYNATRACE INC268150109 · DT	COM NEW	$15.7m	358,003
DYNE THERAPEUTICS INC26818M108 · DYN	COM	$1.1m	49,319
E L F BEAUTY INC26856L103 · ELF	COM	$42.4m	572,944
EAGLE MATLS INC26969P108 · EXP	COM	$73.5m	326,454
EAST WEST BANCORP INC27579R104 · EWBC	COM	$213.0m	1,650,048
EASTERN BANKSHARES INC27627N105 · EBC	COM	$44.4m	1,994,543
EASTGROUP PPTYS INC277276101 · EGP	COM	$302.5m	1,493,398
EASTMAN CHEM CO277432100 · EMN	COM	$88.8m	1,325,685
EATON CORP PLCG29183103 · ETN	SHS	$2.1bn	4,917,475
EBAY INC.278642103 · EBAY	COM	$147.0m	1,315,606
ECHOSTAR CORP278768106 · ECHO	CL A	$183.8m	1,811,222
ECOLAB INC278865100 · ECL	COM	$933.6m	3,350,825
EDGEWELL PERSONAL CARE CO28035Q102 · EPC	COM	$8.6m	320,000
EDGEWISE THERAPEUTICS INC28036F105 · EWTX	COM	$20.7m	510,140
EDISON INTL281020107 · EIX	COM	$418.5m	5,621,023
EDWARDS LIFESCIENCES CORP28176E108 · EW	COM	$757.5m	8,373,783
EHANG HLDGS LTD26853E102 · EH	ADS	$3.5m	541,048
EL POLLO LOCO HLDGS INC268603107 · LOCO	COM	$1.8m	106,200
ELANCO ANIMAL HEALTH INC28414H103 · ELAN	COM	$9.6m	391,317
ELASTIC N VN14506104 · ESTC	ORD SHS	$79.2m	1,389,605
ELECTRONIC ARTS INC285512109	COM	$755.3m	3,683,691
ELEVANCE HEALTH INC FORMERLY036752103 · ELV	COM	$1.5bn	3,958,856
UIPATH INC90364P105 · PATH	CL A	$52.0m	4,785,128
UL SOLUTIONS INC903731107 · ULS	CLASS A COM SHS	$151.5m	1,486,850
ULTA BEAUTY INC90384S303 · ULTA	COM	$354.1m	785,165
ULTRAGENYX PHARMACEUTICAL IN90400D108 · RARE	COM	$2.6m	78,490
UMB FINL CORP902788108 · UMBF	COM	$100.7m	705,322
UNDER ARMOUR INC904311206 · UAA	CL C	$3.9m	621,078
UNILEVER PLC904767803 · UL	SPON ADR NEW	$95.2m	1,583,098
UNION PAC CORP907818108 · UNP	COM	$2.1bn	7,553,360
UNITED AIRLS HLDGS INC910047109 · UAL	COM	$256.8m	1,888,595
UNITED BANKSHARES INC WEST V909907107 · UBSI	COM	$72.0m	1,571,131
UNITED CMNTY BKS BLAIRSVLE G90984P303 · UCB	COM	$53.5m	1,523,614
UNITED FIRE GROUP INC910340108 · UFCS	COM	$3.5m	66,200
UNITED PARCEL SVCS INC911312106 · UPS	CL B	$862.0m	8,018,679
UNITED PARKS & RESORTS INC81282V100 · PRKS	COM	$558,988	11,709
WEST FRASER TIMBER CO LTD952845105 · WFG	COM	$45.7m	675,791
WEST PHARMACEUTICAL SVSC INC955306105 · WST	COM	$309.8m	862,915
WESTERN ALLIANCE BANCORP957638109 · WAL	COM	$119.9m	1,458,937
WESTERN DIGITAL CORP958102105 · WDC	COM	$3.0bn	4,629,232
WESTERN UN CO959802109 · WU	COM	$1.3m	174,405
WESTLAKE CORPORATION960413102 · WLK	COM	$15.6m	214,101
WEX INC96208T104 · WEX	COM	$51.5m	365,109
WEYERHAEUSER CO962166104 · WY	COM NEW	$217.4m	9,081,179
WHEATON PRECIOUS METALS CORP962879102 · WPM	COM	$672.4m	5,983,577
WHIRLPOOL CORP963320106 · WHR	COM	$30.9m	782,895
WHITE MTNS INS GROUP LTDG9618E107 · WTM	COM	$58.0m	27,956
WILLIAMS COS INC969457100 · WMB	COM	$896.6m	12,060,202
WILLIAMS SONOMA INC969904101 · WSM	COM	$409.6m	1,757,080
WILLIS TOWERS WATSON PLC LTDG96629103 · WTW	SHS	$374.8m	1,433,866
WILLSCOT HLDGS CORP971378104 · WSC	COM CL A	$65.6m	2,272,455
WINGSTOP INC974155103 · WING	COM	$53.0m	305,404
WINNEBAGO INDS INC974637100 · WGO	COM	$5.3m	171,200
WINTRUST FINL CORP97650W108 · WTFC	COM	$119.4m	742,963
WISE GROUP PLCG9723Y105 · WSE	ORD SHS CLASS A	$179.6m	14,980,282
WIX COM LTDM98068105 · WIX	SHS	$30.3m	668,748
WOLVERINE WORLD WIDE INC978097103 · WWW	COM	$2.5m	152,900
WOODWARD INC980745103 · WWD	COM	$348.3m	818,678
WORKDAY INC98138H101 · WDAY	CL A	$269.0m	2,197,001
WORLD KINECT CORPORATION981475106 · WKC	COM	$9.4m	286,600
WORTHINGTON ENTERPRISES INC981811102 · WOR	COM	$3.3m	61,000
WP CAREY INC92936U109 · WPC	COM	$203.6m	2,847,221
WSFS FINL CORP929328102 · WSFS	COM	$49.0m	638,922
WW GRAINGER INC384802104 · GWW	COM	$662.6m	487,087
WYNDHAM HOTELS & RESORTS INC98311A105 · WH	COM	$198.6m	2,358,453

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.