Hedge fund

Qube Research & Technologies Ltd

13F for June 30, 2026, filed August 14, 2026 · SEC CIK 1729829 · Holdings history from March 31, 2018

Reported value: $107.6bn
Positions we cover: 1,805
Copy, a year: +12.1%
Copy Sharpe ratio: 0.54

Copy-performance statistics: May 18, 2018 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.

3,406 reported entries for June 30, 2026.

Issuer	Class / type	Reported value	Quantity
TREKOR METALS LTD89472Y107	COM	$1.7m	246,031
TREVI THERAPEUTICS INC89532M101 · TRVI	COM	$1.9m	102,226
TREX INC89531P105 · TREX	COM	$386,609	7,726
TRICO BANCSHARES896095106 · TCBK	COM	$13.5m	250,293
TRIMAS CORP896215209 · TRS	COM NEW	$1.2m	27,202
TRINET GROUP INC896288107 · TNET	COM	$5.1m	102,182
TRINITY INDS INC896522109 · TRN	COM	$8.2m	237,329
TRIPLE FLAG PRECIOUS METAL89679M104 · TFPM	COM	$14.2m	472,365
TRONOX HOLDINGS PLCG9087Q102 · TROX	SHS	$3.0m	478,018
TRUBRIDGE INC205306103	COM	$4.1m	156,867
TRUIST FINL CORP89832Q109 · TFC	COM	$84.8m	1,702,777
TRUIST FINL CORP89832Q109 · TFC	COMCall	$772,210	15,500
TRUIST FINL CORP89832Q109 · TFC	COMPut	$413,506	8,300
TRUPANION INC898202106 · TRUP	COM	$10.1m	406,217
TRUSTMARK CORP898402102 · TRMK	COM	$15.9m	344,967
TSAKOS ENERGY NAVIGATION LTDG9108L173 · TEN	SHS	$5.8m	163,018
TTM TECHNOLOGIES INC87305R109 · TTMI	COM	$78.4m	419,097
TUHURA BIOSCIENCES INC898920103 · HURA	COM	$340,692	145,595
TURKCELL ILETISIM900111204	SPON ADR NEW	$6.2m	1,059,667
TURNING PT BRANDS INC90041L105 · TPB	COM	$38.5m	454,159
TUTOR PERINI CORP901109108 · TPC	COM	$37.6m	452,982
TVARDI THERAPEUTICS INC140755307 · TVRD	COM	$19,399	10,210
TWFG INC87318A101 · TWFG	COM CL A	$1.6m	68,450
TWILIO INC90138F102 · TWLO	CL A	$176.3m	854,257
TWILIO INC90138F102 · TWLO	CL ACall	$866,586	4,200
TWILIO INC90138F102 · TWLO	CL APut	$1.0m	4,900
TWO HARBORS INVENTMENT CORPO90187B804	COM	$14.2m	1,146,434
TXNM ENERGY INC69349H107 · TXNM	COM	$118.3m	2,084,253
TYRA BIOSCIENCES INC90240B106 · TYRA	COM	$8.5m	266,934
TYSON FOODS INC902494103 · TSN	CL A	$90.7m	1,584,602
U HAUL HOLDING COMPANY023586506	COM SER N	$38.7m	671,246
U S PHYSICAL THERAPY90337L108 · USPH	COM	$861,865	12,549
UBER TECHNOLOGIES INC90353T100 · UBER	COM	$112.9m	1,565,113
UBER TECHNOLOGIES INC90353T100 · UBER	COMCall	$44.7m	619,500
UBER TECHNOLOGIES INC90353T100 · UBER	COMPut	$27.8m	385,400
UBIQUITI INC90353W103 · UI	COM	$24.8m	46,462
UBS GROUP AGH42097107 · UBS	SHS	$271.3m	5,474,754
UBS GROUP AGH42097107 · UBS	SHSPut	$78.5m	1,583,200
UDR INC902653104 · UDR	COM	$32.3m	808,812
UFP INDUSTRIES INC90278Q108 · UFPI	COM	$19.6m	215,537
UL SOLUTIONS INC903731107 · ULS	CLASS A COM SHS	$6.8m	66,484
ULTA BEAUTY INC90384S303 · ULTA	COM	$105.3m	233,501
ULTA BEAUTY INC90384S303 · ULTA	COMCall	$4.1m	9,000
ULTA BEAUTY INC90384S303 · ULTA	COMPut	$3.5m	7,700
ULTRAGENYX PHARMACEUTICAL IN90400D108 · RARE	COM	$29.5m	882,219
ULTRALIFE CORP903899102 · ULBI	COM	$70,531	11,160
ULTRAPAR PARTICIPACOES SA90400P101 · UGP	SP ADR REP COM	$28.2m	5,623,847
UMB FINL CORP902788108 · UMBF	COM	$26.5m	185,380
UNIFIRST CORP MASS904708104 · UNF	COM	$33.1m	124,972
UNILEVER PLC904767803 · UL	SPON ADR NEW	$63.9m	1,062,661
UNION PAC CORP907818108 · UNP	COMCall	$4.5m	16,400
UNION PAC CORP907818108 · UNP	COMPut	$4.6m	16,900
UNISYS CORP909214306 · UIS	COM NEW	$817,633	223,397
UNITED AIRLS HLDGS INC910047109 · UAL	COM	$98.6m	725,041
UNITED AIRLS HLDGS INC910047109 · UAL	COMCall	$19.9m	146,300
UNITED AIRLS HLDGS INC910047109 · UAL	COMPut	$13.2m	97,200
UNITED CMNTY BKS BLAIRSVLE G90984P303 · UCB	COM	$38.7m	1,102,640
UNITED FIRE GROUP INC910340108 · UFCS	COM	$3.5m	66,981
UNITED NAT FOODS INC911163103 · UNFI	COM	$727,249	15,924
UNITED PARCEL SVCS INC911312106 · UPS	CL BCall	$26.3m	244,700
UNITED PARCEL SVCS INC911312106 · UPS	CL BPut	$23.5m	219,000
UNITED RENTALS INC911363109 · URI	COMCall	$1.0m	900
UNITED RENTALS INC911363109 · URI	COMPut	$1.0m	900
UNITED THERAPEUTICS CORP DEL91307C102 · UTHR	COM	$126.6m	233,639
UNITEDHEALTH GROUP INC91324P102 · UNH	COM	$584.3m	1,405,937
UNITEDHEALTH GROUP INC91324P102 · UNH	COMCall	$135.2m	325,400
UNITEDHEALTH GROUP INC91324P102 · UNH	COMPut	$119.9m	288,400
UNITIL CORP913259107 · UTL	COM	$4.8m	91,265
UNITY SOFTWARE INC91332U101 · U	COM	$21.5m	752,923
UNITY SOFTWARE INC91332U101 · U	COMCall	$4.8m	166,800
UNITY SOFTWARE INC91332U101 · U	COMPut	$1.8m	61,800
UNIVERSAL CORP VA MTNS BK EN913456109 · UVV	COM	$15.1m	289,656
UNIVERSAL DISPLAY CORP91347P105 · OLED	COM	$3.0m	34,629
UNIVERSAL HEALTH RLTY INCOME91359E105 · UHT	SH BEN INT	$9.1m	206,730
UNIVERSAL HLTH SVCS INC913903100 · UHS	CL B	$59.1m	397,433
UNIVERSAL INS HLDGS INC91359V107 · UVE	COM	$15.4m	372,046
UNIVEST FINANCIAL CORPORATIO915271100 · UVSP	COM	$5.0m	114,449
UNUM GROUP91529Y106 · UNM	COM	$168.8m	1,887,949
UNUSUAL MACHS INC91532F102 · UMAC	COM SHS	$1.4m	61,167
UPBOUND GROUP INC76009N100 · UPBD	COM	$6.1m	286,621
UPSTART HLDGS INC91680M107 · UPST	COMCall	$534,993	15,100
UPSTART HLDGS INC91680M107 · UPST	COMPut	$49,602	1,400
UPSTREAM BIO INC91678A107 · UPB	COM	$6.8m	978,500
URANIUM RTY CORP91702V101	COM	$191,236	68,790
URBAN EDGE PPTYS91704F104 · UE	COM	$6.4m	277,837
URBAN OUTFITTERS INC917047102 · URBN	COM	$42.1m	593,986
US BANCORP902973304 · USB	COM NEW	$46.9m	776,629
US BANCORP902973304 · USB	COM NEWCall	$906,000	15,000
US BANCORP902973304 · USB	COM NEWPut	$2.0m	32,400
USA TODAY CO INC36472T109 · TDAY	COM	$481,613	56,329
V F CORP918204108 · VFC	COM	$5.0m	299,328
V2X INC92242T101 · VVX	COM	$13.8m	185,367
VALARIS LTDG9460G101 · VAL	CL A	$1.6m	21,787
VALE S A91912E105 · VALE	SPONSORED ADS	$647,081	43,024
VALE S A91912E105 · VALE	SPONSORED ADSCall	$3.0m	196,400
VALE S A91912E105 · VALE	SPONSORED ADSPut	$658,752	43,800
VALENS SEMICONDUCTOR LTDM9607U115 · VLN	ORDINARY SHARES	$437,172	193,439
VALERO ENERGY CORP91913Y100 · VLO	COM	$117.4m	450,601
VALERO ENERGY CORP91913Y100 · VLO	COMCall	$2.9m	11,000
VALERO ENERGY CORP91913Y100 · VLO	COMPut	$4.5m	17,400

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 Qube Research & Technologies Ltd's usable filed holdings in companies we cover from May 18, 2018, 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 −37.7% (S&P 500 −31.8%); beta 1.04; alpha −2.4% a year (t = −1.24); last 12 months +14.8% against +12.1%.

Reported value by quarter

Qube Research & Technologies Ltd: 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
2018-03-31	$260.2M
2018-06-30	$158.5M
2018-09-30	$752.2M
2018-12-31	$231.8M
2019-03-31	$757.2M
2019-06-30	$420M
2019-09-30	$150.1M
2019-12-31	$3.2B
2020-03-31	$2.4B
2020-06-30	$6.8B
2020-09-30	$7B
2020-12-31	$7B
2021-03-31	$6.3B
2021-06-30	$8.8B
2021-09-30	$8B
2021-12-31	$13B
2022-03-31	$11.8B
2022-06-30	$13.6B
2022-09-30	$16.8B
2022-12-31	$18.7B
2023-03-31	$23.2B
2023-06-30	$27.5B
2023-09-30	$38.3B
2023-12-31	$51.4B
2024-03-31	$63.1B
2024-06-30	$63.3B
2024-09-30	$67.8B
2024-12-31	$76.3B
2025-03-31	$86.2B
2025-06-30	$98.4B
2025-09-30	$96.8B
2025-12-31	$98.4B
2026-03-31	$89.9B
2026-06-30	$107.6B

Latest covered holdings and moves

Covered holdings as of June 30, 2026.

Company	Share of portfolio	Value	Shares	Change in shares
AMZNAmazon	1.03%	$1.1bn	4.66M	+58.6% Added
AAPLApple Inc.	0.98%	$1.1bn	3.65M	−34.2% Reduced
CVXChevron Corporation	0.88%	$941.5m	5.68M	+180.6% Added
SNDKSandisk	0.86%	$931.4m	409.6K	−51.5% Reduced
MUMicron Technology	0.81%	$871.0m	754.8K	−65.6% Reduced
JPMJPMorgan Chase	0.78%	$840.1m	2.57M	+4.0% Added
GSGoldman Sachs	0.68%	$728.9m	720.7K	+338.5% Added
NVDANVIDIA Corporation	0.63%	$677.9m	3.39M	+66.2% Added
INTCIntel	0.61%	$662.1m	4.74M	New
AMDAdvanced Micro Devices	0.59%	$631.2m	1.09M	+55537.4% Added
WFCWells Fargo	0.59%	$630.9m	7.63M	+143.8% Added
CCitigroup	0.56%	$602.0m	4.30M	+34.6% Added
MSFTMicrosoft Corporation	0.55%	$586.9m	1.57M	−34.8% Reduced
WDCWestern Digital	0.54%	$585.0m	915.9K	New
UNHUnitedHealth Group	0.54%	$584.3m	1.41M	New
CRMSalesforce	0.51%	$543.7m	3.47M	+2679.4% Added
STXSeagate Technology	0.50%	$533.4m	552.8K	+34043.3% Added
PEPPepsiCo	0.44%	$477.3m	3.53M	+154.7% Added
PHParker Hannifin	0.44%	$472.3m	482.9K	+3.8% Added
HPEHewlett Packard Enterprise	0.42%	$450.5m	9.99M	New
BEBloom Energy	0.41%	$445.6m	1.47M	New
ATIATI Inc	0.39%	$422.6m	2.14M	+149.6% Added
LLYLilly (Eli)	0.39%	$415.6m	346.5K	−51.5% Reduced
MAMastercard	0.37%	$401.6m	781.9K	+115.3% Added
ICEIntercontinental Exchange	0.37%	$399.2m	3.24M	+311.0% Added
CSCOCisco	0.37%	$397.9m	3.39M	+445.2% Added
MCKMcKesson	0.37%	$394.1m	521.6K	+72.8% Added
GILDGilead Sciences	0.36%	$389.9m	3.09M	+2449.5% Added
BSXBoston Scientific	0.35%	$381.7m	8.94M	+60.6% Added
HALHalliburton	0.35%	$377.8m	11.13M	New
ATOAtmos Energy	0.34%	$368.1m	2.14M	+2485.6% Added
AMEAmetek	0.34%	$367.0m	1.52M	+5.5% Added
CRDOCredo Technology Group Holding Ltd	0.34%	$365.0m	1.34M	New
HLTHilton Worldwide	0.33%	$358.2m	1.08M	New
MMM3M	0.33%	$357.0m	2.21M	+12.3% Added
CMECME Group	0.33%	$355.8m	1.61M	+781.6% Added
INTUIntuit	0.33%	$355.0m	1.36M	New
QCOMQualcomm	0.33%	$350.5m	1.90M	New
ORCLOracle Corporation	0.33%	$349.7m	2.39M	+2155.5% Added
JBLJabil	0.32%	$347.9m	902.4K	+95.5% Added
TXNTexas Instruments	0.32%	$345.2m	1.16M	+1281.1% Added
NOCNorthrop Grumman	0.32%	$341.8m	671.2K	+257.2% Added
PPLPPL Corporation	0.32%	$340.9m	9.38M	+402.7% Added
COFCapital One	0.31%	$328.9m	1.64M	−24.4% Reduced
GMGeneral Motors	0.30%	$328.1m	4.26M	−20.4% Reduced
TMUST-Mobile US	0.30%	$326.4m	1.95M	+70.0% Added
HIGThe Hartford	0.30%	$323.7m	2.44M	+312.0% Added
DVNDevon Energy	0.30%	$319.7m	7.74M	+240.8% Added
LMTLockheed Martin	0.29%	$317.2m	622.6K	−4.2% Reduced
BACBank of America	0.29%	$312.8m	5.49M	−33.1% Reduced
LRCXLam Research	0.29%	$309.9m	715.2K	−20.6% Reduced
TPRTapestry, Inc.	0.29%	$309.8m	2.12M	−12.9% Reduced
KEYSKeysight Technologies	0.28%	$302.1m	863.1K	+26.4% Added
MTSIMacom Technology Solutions Holdings, Inc.	0.28%	$300.8m	790.7K	New
ORLYO'Reilly Automotive	0.28%	$299.5m	3.25M	+94.8% Added
MSMorgan Stanley	0.28%	$297.7m	1.42M	+32.6% Added
FERGFerguson Enterprises	0.27%	$293.0m	1.23M	+2.1% Added
NSCNorfolk Southern	0.26%	$281.6m	895.2K	−2.5% Reduced
CASYCasey's	0.26%	$278.4m	350.3K	New
NUENucor	0.26%	$277.8m	1.25M	+87.5% Added
COPConocoPhillips	0.26%	$275.2m	2.65M	+1243.9% Added
EMEEmcor	0.25%	$272.2m	328.0K	+93.6% Added
UBSUBS Group AG	0.25%	$271.3m	5.47M	−28.1% Reduced
OXYOccidental Petroleum	0.25%	$271.3m	5.59M	New
MKSIMKS Inc	0.25%	$269.6m	606.1K	+715.0% Added
COSTCostco	0.25%	$268.0m	286.4K	+58.4% Added
LNGCheniere Energy, Inc.	0.24%	$256.9m	1.07M	+1.2% Added
APHAmphenol	0.24%	$256.7m	1.46M	−42.9% Reduced
FLEXFlex Ltd.	0.24%	$255.5m	1.58M	New
RLRalph Lauren Corporation	0.24%	$253.8m	632.3K	−14.0% Reduced
BNYBNY Mellon	0.24%	$253.6m	1.75M	+240.3% Added
WWDWoodward, Inc.	0.23%	$250.0m	587.6K	+22.4% Added
EQIXEquinix	0.23%	$249.6m	239.4K	+0.6% Added
ELVElevance Health	0.23%	$247.6m	640.2K	+468.0% Added
TMOThermo Fisher Scientific	0.23%	$247.0m	492.6K	+160.9% Added
ROSTRoss Stores	0.23%	$245.6m	1.15M	−6.3% Reduced
LOWLowe's	0.23%	$242.3m	1.10M	New
FDXFedEx	0.23%	$242.2m	773.5K	−11.0% Reduced
NEMNewmont	0.22%	$240.8m	2.58M	−15.4% Reduced
HWMHowmet Aerospace	0.22%	$240.5m	894.6K	+39.2% Added
ALNYAlnylam Pharmaceuticals, Inc.	0.22%	$240.4m	798.7K	−4.7% Reduced
NVTnVent Electric plc	0.22%	$232.8m	1.37M	+207.2% Added
EBAYeBay Inc.	0.21%	$230.3m	2.06M	+71.3% Added
JCIJohnson Controls	0.21%	$229.9m	1.57M	−21.3% Reduced
ROKURoku, Inc	0.21%	$227.1m	1.64M	+23.3% Added
TTTrane Technologies	0.21%	$225.0m	458.0K	+83.5% Added
ALBAlbemarle Corporation	0.21%	$224.7m	1.66M	+114.5% Added
RSGRepublic Services	0.20%	$219.9m	1.03M	+24.6% Added
ZMZoom Communications, Inc.	0.20%	$217.5m	2.52M	+321.1% Added
MDTMedtronic	0.20%	$216.7m	2.77M	+3521.8% Added
GOOGLAlphabet Inc. (Class A)	0.20%	$213.8m	598.3K	−72.6% Reduced
AIGAmerican International Group	0.20%	$211.9m	2.84M	−14.5% Reduced
GEGE Aerospace	0.20%	$211.7m	566.5K	−60.3% Reduced
WECWEC Energy Group	0.19%	$206.9m	1.77M	−2.2% Reduced
AFLAflac	0.19%	$200.4m	1.71M	+69.3% Added
TJXTJX Companies	0.18%	$197.7m	1.30M	−30.8% Reduced
ABTAbbott Laboratories	0.18%	$194.4m	2.14M	+540.1% Added
PGProcter & Gamble	0.18%	$191.6m	1.31M	+307.1% Added
JNJJohnson & Johnson	0.18%	$191.1m	752.3K	New
SSNCSS&C Technologies Holdings Inc	0.18%	$191.1m	3.08M	+37.9% Added
AMATApplied Materials	0.18%	$190.1m	263.0K	−67.0% Reduced
CFGCitizens Financial Group	0.17%	$188.8m	2.69M	+59.0% Added
FIVEFive Below, Inc	0.17%	$188.6m	1.05M	−2.0% Reduced
AMTAmerican Tower	0.17%	$188.4m	1.15M	+7134.1% Added
DOWDow Inc.	0.17%	$188.2m	6.88M	New
SCHWCharles Schwab Corporation	0.17%	$188.0m	2.04M	−0.3%
AAgilent Technologies	0.17%	$188.0m	1.42M	−37.9% Reduced
KMIKinder Morgan	0.17%	$183.5m	5.74M	+9857.2% Added
HUBSHubspot Inc	0.17%	$183.3m	1.00M	+183.3% Added
NXPINXP Semiconductors	0.17%	$182.1m	648.1K	+1162.2% Added
BRBroadridge Financial Solutions	0.17%	$179.8m	1.31M	+152.2% Added
INSMInsmed Inc	0.17%	$179.4m	1.68M	+1032.8% Added
BMYBristol Myers Squibb	0.17%	$178.3m	3.09M	−3.4% Reduced
CRSCarpenter Technology Corp	0.17%	$177.5m	287.8K	+1364.1% Added
MDBMongodb, Inc.	0.16%	$176.4m	525.2K	−13.8% Reduced
TWLOTwilio Inc	0.16%	$176.3m	854.3K	New
MSCIMSCI	0.16%	$172.5m	308.1K	+682.9% Added
GDDYGodaddy Inc.	0.16%	$172.4m	2.03M	+18.6% Added
MTZMastec Inc	0.16%	$170.3m	409.2K	−15.7% Reduced
UNMUnum Group	0.16%	$168.8m	1.89M	+118.9% Added
SNPSSynopsys Inc	0.16%	$167.5m	375.4K	+148.9% Added
TSEMTower Semiconductor LTD	0.15%	$166.3m	638.1K	+249.6% Added
CBRECBRE Group	0.15%	$165.9m	1.23M	+19.9% Added
CRWDCrowdStrike	0.15%	$165.7m	217.1K	−0.9% Reduced
ZTSZoetis	0.15%	$163.8m	2.28M	New
AVGOBroadcom	0.15%	$163.1m	431.7K	−76.9% Reduced
CCLCarnival Corporation	0.15%	$160.9m	5.63M	New
DHRDanaher Corporation	0.15%	$160.9m	844.5K	−37.4% Reduced
ISRGIntuitive Surgical	0.15%	$160.4m	403.4K	+36.8% Added
AESAES Corporation	0.15%	$160.3m	10.94M	+131.5% Added
ONTOOnto Innovation Inc.	0.15%	$159.5m	421.4K	+603.8% Added
PSXPhillips 66	0.15%	$159.4m	943.0K	+48.6% Added
SPOTSpotify Technology S.a.	0.15%	$158.4m	344.9K	New
STZConstellation Brands	0.15%	$158.1m	1.14M	New
BKNGBooking Holdings	0.15%	$157.9m	885.8K	+2188.6% Added
LHXL3Harris	0.14%	$155.7m	535.9K	+3685.0% Added
STTState Street Corporation	0.14%	$154.4m	910.4K	+55.9% Added
TSMTaiwan Semiconductor Manufacturing Co LTD	0.14%	$153.0m	320.4K	−50.8% Reduced
PLTRPalantir Technologies Inc.	0.14%	$152.7m	1.31M	New
WMTWalmart	0.14%	$152.5m	1.35M	New
CMGChipotle Mexican Grill	0.14%	$150.8m	4.44M	+100.8% Added
ALABAstera Labs, Inc.	0.14%	$150.4m	311.4K	+786.7% Added
DGDollar General	0.14%	$149.6m	1.30M	−31.9% Reduced
LOGILogitech International S.a.	0.14%	$149.5m	1.60M	+41.4% Added
LYBLyondellBasell	0.14%	$149.3m	2.84M	New
REGRegency Centers	0.14%	$149.1m	1.87M	+1612.5% Added
ACMAecom	0.14%	$147.9m	2.12M	+379.7% Added
ADIAnalog Devices	0.14%	$146.4m	368.7K	−43.2% Reduced
VICIVici Properties	0.13%	$144.5m	5.44M	+93.1% Added
AAAlcoa Corp	0.13%	$144.2m	2.77M	+99.0% Added

Company	Bought (value)	Shares
INTCIntel	$662.1m	4.74M
AMDAdvanced Micro Devices	$630.0m	1.09M
CVXChevron Corporation	$606.0m	3.66M
WDCWestern Digital	$585.0m	915.9K
UNHUnitedHealth Group	$584.3m	1.41M
GSGoldman Sachs	$562.7m	556.3K
STXSeagate Technology	$531.9m	551.2K
CRMSalesforce	$524.1m	3.35M
HPEHewlett Packard Enterprise	$450.5m	9.99M
BEBloom Energy	$445.6m	1.47M
AMZNAmazon	$410.5m	1.72M
HALHalliburton	$377.8m	11.13M
GILDGilead Sciences	$374.6m	2.97M
WFCWells Fargo	$372.1m	4.50M
CRDOCredo Technology Group Holding Ltd	$365.0m	1.34M

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

Company	Sold (value)	Shares
MUMicron Technology	−$1.7bn	−1.44M
SNDKSandisk	−$988.2m	−434.6K
GOOGLAlphabet Inc. (Class A)	−$566.0m	−1.58M
AAPLApple Inc.	−$547.0m	−1.89M
AVGOBroadcom	−$544.3m	−1.44M
LLYLilly (Eli)	−$442.1m	−368.6K
VVisa Inc.	−$437.8m	−1.28M
MRVLMarvell Technology	−$435.9m	−4.40M
AMATApplied Materials	−$385.7m	−533.5K
ASMLAsml Holding NV	−$344.6m	−173.2K
GEGE Aerospace	−$321.4m	−860.1K
METAMeta Platforms	−$316.5m	−561.9K
MSFTMicrosoft Corporation	−$313.4m	−840.3K
FTITechnipFMC plc	−$287.2m	−4.16M
WMBWilliams Companies	−$279.7m	−3.76M

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

Company	Value last quarter	Shares
MRVLMarvell Technology	$435.9m	4.40M
FTITechnipFMC plc	$287.2m	4.16M
TERTeradyne	$274.5m	925.8K
SOFISoFi Technologies, Inc.	$266.8m	16.80M
RKTRocket Companies, Inc.	$221.5m	15.54M
VEEVVeeva Systems Inc	$193.8m	1.10M
SYKStryker Corporation	$190.0m	578.2K
SNOWSnowflake Inc.	$162.8m	1.08M
ECLEcolab	$158.4m	595.4K
NOWServiceNow	$146.8m	1.40M
ADPAutomatic Data Processing	$132.7m	653.1K
TRVThe Travelers Companies	$131.3m	450.0K
RBLXRoblox Corp	$129.1m	2.28M
BURLBurlington Stores, Inc.	$124.7m	383.2K
DASHDoorDash	$122.2m	813.8K
LINLinde plc	$120.2m	242.5K
PNCPNC Financial Services	$116.6m	560.5K
TOSTToast, Inc.	$112.7m	4.25M
VTRVentas	$109.7m	1.34M
TSLATesla, Inc.	$108.7m	292.4K
FISVFiserv	$105.7m	1.89M
TRGPTarga Resources	$103.2m	411.7K
NUNu Holdings Ltd.	$99.8m	6.95M
PMPhilip Morris International	$94.5m	571.7K
HDThe Home Depot	$89.2m	271.1K
EDConsolidated Edison	$89.0m	786.4K
BXBlackstone Inc.	$88.1m	766.4K
HOODRobinhood Markets	$85.7m	1.24M
CDNSCadence Design Systems Inc	$84.8m	305.1K
SOSouthern Company	$83.6m	866.5K

Technology24.7%
Financials16.4%
Industrials15.0%
Health Care10.8%
Consumer Discretionary9.3%
Energy5.9%
Materials4.4%
Consumer Staples4.1%
Utilities3.4%
Real Estate3.1%
Communication Services3.0%

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 backtestMay 18, 2018 to November 2, 2026	+12.1%	+14.6%	0.54	0.69	−37.7%	1.04
Last three yearsNovember 3, 2023 to November 2, 2026	+19.5%	+21.8%	1.08	1.16	−15.0%	0.86
Last yearNovember 7, 2025 to November 2, 2026	+16.0%	+14.2%	1.09	0.84	−6.9%	0.73

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.