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
BOSTON SCIENTIFIC CORP101137107 · BSX	COM	$903.5m	21,170,029
BOWHEAD SPECIALTY HLDGS INC10240L102 · BOW	COM SHS	$2.9m	95,700
BOX INC10316T104 · BOX	CL A	$5.0m	189,218
BOYD GAMING CORP103304101 · BYD	COM	$35.5m	401,479
BOYD GROUP SERVICES INC103310108 · BGSI	COM	$34.6m	365,811
BP PLC055622104	SPONSORED ADR	$62.3m	1,687,000
BREAD FINANCIAL HOLDINGS INC018581108 · BFH	COM	$6.1m	55,935
BRIDGEBIO PHARMA INC10806X102 · BBIO	COM	$126.2m	1,693,773
BRIGHT HORIZONS FAM SOL IN D109194100 · BFAM	COM	$34.1m	481,523
BRIGHTHOUSE FINL INC10922N103 · BHF	COM	$18.6m	294,000
BRIGHTSPRING HEALTH SVCS INC10950A106 · BTSG	COM	$136.4m	1,955,905
BRINKER INTL INC109641100 · EAT	COM	$78.5m	467,550
BRINKS CO109696104 · BCO	COM	$43.0m	455,433
BRISTOL-MYERS SQUIBB CO110122108 · BMY	COM	$2.1bn	36,866,658
BRIXMOR PPTY GROUP INC11120U105 · BRX	COM	$131.7m	4,175,933
BROADCOM INC11135F101 · AVGO	COM	$24.9bn	65,970,988
BROADRIDGE FINL SOLUTIONS IN11133T103 · BR	COM	$242.8m	1,773,005
BROADSTONE NET LEASE INC11135E203 · BNL	COM	$46.6m	2,254,795
BROOKFIELD ASSET MANAGMT LTD113004105 · BAM	CL A LMT VTG SHS	$223.9m	4,996,073
BROOKFIELD CORP11271J107	CL A LTD VT SH	$1.2bn	28,058,813
BROOKFIELD INFRASTRUCTURE CO11276H106	COM SUB VTG A	$62.7m	1,626,688
BROOKFIELD RENEWABLE CORP11285B108	CL A EX SUB VTG	$66.8m	1,800,168
BROOKFIELD WEALTH SOL LTDG17434104 · BNT	CL A EXCHANGEAB	$14.8m	348,251
BROWN & BROWN INC115236101 · BRO	COM	$282.0m	4,396,401
BROWN FORMAN CORP115637100 · BF.B	CL A	$7.9m	288,879
BROWN FORMAN CORP115637209 · BF.B	CL B	$34.5m	1,293,650
BRP INC05577W200	COM SUN VTG	$30.0m	492,212
BRUKER CORP116794108 · BRKR	COM	$22.4m	371,662
BRUNSWICK CORP117043109 · BC	COM	$62.9m	746,925
BUILDERS FIRSTSOURCE INC12008R107 · BLDR	COM	$77.0m	860,958
BULLISHG16910120 · BLSH	ORD SHS	$3.5m	150,000
BUNGE GLOBAL SAH11356104 · BG	COM SHS	$195.8m	1,834,588
BURLINGTON STORES INC122017106 · BURL	COM	$259.8m	819,920
BXP INC101121101 · BXP	COM	$429.8m	6,481,326
C H ROBINSON WORLDWIDE IN12541W209 · CHRW	COM NEW	$295.2m	1,567,254
CABALETTA BIO INC12674W109 · CABA	COM	$12.8m	4,112,401
CABLE ONE INC12685J105 · CABO	COM	$1.6m	29,204
CABOT CORP127055101 · CBT	COM	$52.2m	574,305
CACI INTL INC127190304 · CACI	CL A	$86.9m	187,660
CACTUS INC127203107 · WHD	CL A	$1.1m	22,007
CADENCE DESIGN SYSTEM INC127387108 · CDNS	COM	$1.3bn	3,395,031
CAE INC124765108 · CAE	COM	$80.6m	3,222,912
NEWMARKET CORP651587107 · NEU	COM	$65.1m	82,266
NEWMONT CORP651639106 · NEM	COM	$1.3bn	14,348,997
NEWS CORP NEW65249B109 · NWSA	CL A	$149.0m	6,000,662
NEWS CORP NEW65249B208	CL B	$14.5m	517,059
NEXGEN ENERGY LTD65340P106 · NXE	COM	$75.6m	8,057,932
NEXPOINT RESIDENTIAL TR INC65341D102 · NXRT	COM	$2.8m	101,700
NEXSTAR MEDIA GROUP INC65336K103 · NXST	COMMON STOCK	$48.4m	271,005
NEXTERA ENERGY INC65339F101 · NEE	COM	$2.8bn	32,117,624
NEXTPOWER INC65290E101 · NXT	CLASS A COM	$159.7m	1,340,331
NICE LTD653656108 · NICE	SPONSORED ADR	$2.2m	23,828
NIKE INC654106103 · NKE	CL B	$548.3m	13,357,328
NISOURCE INC65473P105 · NI	COM	$370.4m	7,789,733
NMI HLDGS INC629209305 · NMIH	COM	$992,899	24,164
NNN REIT INC637417106 · NNN	COM	$117.4m	2,523,970
NOKIA CORP654902204	SPONSORED ADR	$6.6m	500,000
NOMAD FOODS LTDG6564A105 · NOMD	USD ORD SHS	$23.2m	2,114,703
NORDSON CORP655663102 · NDSN	COM	$215.7m	715,042
NORFOLK SOUTHN CORP655844108 · NSC	COM	$956.6m	3,040,628
NORTHERN TR CORP665859104 · NTRS	COM	$348.0m	2,001,944
NORTHWEST NAT HLDG CO66765N105 · NWN	COM	$1.8m	36,000
NORTHWESTERN ENERGY GROUP IN668074305 · NWE	COM NEW	$55.9m	780,561
NORWEGIAN CRUISE LINE HLDGSG66721104 · NCLH	SHS	$22.1m	1,049,238
NOV INC62955J103 · NOV	COM	$8.5m	460,773
NOVA LTDM7516K103 · NVMI	COM	$174.3m	328,477
NOVAGOLD RESOURCES INC66987E206 · NG	COM NEW	$27.0m	4,522,628
NOVANTA INC67000B104 · NOVT	COM	$71.6m	441,388
NPK INTERNATIONAL INC651718504 · NPKI	COM SHS	$5.1m	323,100
NU HLDGS LTDG6683N103 · NU	ORD SHS CL A	$618.4m	46,287,265
NUCOR CORP670346105 · NUE	COM	$917.3m	4,118,036
NUTANIX INC67059N108 · NTNX	CL A	$207.3m	4,067,109
NUTRIEN LTD67077M108 · NTR	COM	$340.6m	5,411,013
NUVALENT INC670703107	COM	$69.2m	560,041
NVENT ELEC PLCG6700G107 · NVT	SHS	$374.5m	2,208,137
NVIDIA CORPORATION67066G104 · NVDA	COM	$65.2bn	325,951,734
NVR INC62944T105 · NVR	COM	$265.0m	38,888
NWPX INFRASTRUCTURE INC667746101 · NWPX	COM	$12.1m	80,700
NXP SEMICONDUCTORS N VN6596X109 · NXPI	COM	$642.3m	2,285,448
OCEANAGOLD CORP675222400	COM NEW	$74.8m	2,985,891
OCTAVE INTELLIGENCE PLCG22845104 · OCTV	ORD SHS CL B	$21.5m	1,316,803
OGE ENERGY CORP670837103 · OGE	COM	$159.5m	3,278,280
OIL DRI CORP AMER677864100 · ODC	COM	$3.4m	33,500
OIL STS INTL INC678026105 · OIS	COM	$3.6m	445,100
OKLO INC02156V109 · OKLO	COM CL A	$92.0m	1,758,267
OKTA INC679295105 · OKTA	CL A	$93.6m	685,697
OLD DOMINION FREIGHT LINE IN679580100 · ODFL	COM	$645.6m	2,980,836
OLD NATL BANCORP IND680033107 · ONB	COM	$85.9m	3,316,277
OLD REP INTL CORP680223104 · ORI	COM	$98.1m	2,398,290
OLLIES BARGAIN OUTLET HLDGS681116109 · OLLI	COM	$34.4m	447,387
OMEGA HEALTHCARE INVS INC681936100 · OHI	COM	$190.2m	3,989,606
OMNICOM GROUP INC681919106 · OMC	COM	$35.6m	488,460
ON HLDG AGH5919C104 · ONON	NAMEN AKT A	$112.8m	3,183,343
ON SEMICONDUCTOR CORP682189105 · ON	COM	$742.8m	7,857,251
ONCE UPON A FARM PBC68237F108 · OFRM	COM	$6.7m	325,000
ONE GAS INC68235P108 · OGS	COM	$67.8m	879,121
ONEMAIN HLDGS INC68268W103 · OMF	COM	$60.5m	992,914
ONEOK INC NEW682680103 · OKE	COM	$574.3m	6,606,241
ONITY GROUP INC675746606 · ONIT	COM NEW	$1.1m	27,800
ONTO INNOVATION INC683344105 · ONTO	COM	$245.9m	649,734

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.