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Funds (13F)

Guinness Asset Management Ltd

Backtest from 2 Aug 2013 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+12.0%
S&P 500 +13.8%
Last 12 months
+17.7%
S&P 500 +12.1%
Sharpe ratio
0.65
S&P 500 0.76
Biggest drop
−34.6%
S&P 500 −31.8%
$10.0k$20.0k$40.0k 2013201520172019202120232025 $55.3k$44.8k
StrategyS&P 500 $10,000 in Guinness Asset Management Ltd from 2 Aug 2013 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Guinness Asset Management Ltd's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Guinness Asset Management Ltd's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+12.0%+13.8%
Total return+348%+453%
Last 12 months+17.7%+12.1%
Last 3 months+3.8%—
Last month+3.7%—
This year so far+16.6%—
Volatility a year16.6%16.0%
Sharpe ratio0.650.76
Biggest drop−34.6%−31.8%
Beta to the S&P 5000.961.00
Alpha a year (t-statistic)−0.9% (−0.51)—
Share of weeks up57%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
TXN5.5%——
CSCO5.4%——
AVGO5.0%——
JNJ4.4%——
ABBV4.4%——
ETN4.1%——
AFL4.0%——
EMR4.0%——
KO3.8%——
MSFT3.6%——
MDT3.4%——
AJG3.3%——
ITW3.3%——
PG3.2%——
MDLZ3.2%——
PEP3.1%——
PAYX3.1%——
BLK3.0%——
CME2.8%——
OTIS2.7%——
TSM1.6%——
KLAC1.3%——
APH1.2%——
LRCX1.1%——
AMAT1.1%——
AMD1.0%——
GOOGL0.9%——
AMZN0.8%——
AAPL0.8%——
NVDA0.8%——
V0.8%——
AME0.8%——
NDAQ0.8%——
MA0.7%——
ROP0.7%——
TMO0.7%——
DHR0.7%——
ICE0.6%——
META0.6%——
NFLX0.6%——
CRM0.6%——
VLO0.3%——
HUBB0.3%——
TT0.3%——
NEE0.3%——
CVX0.3%——
COP0.2%——
ST0.2%——
NXPI0.2%——
CNQ0.2%——
CVE0.2%——
SU0.2%——
FANG0.2%——
EOG0.2%——
IMO0.2%——
ORA0.2%——
FSLR0.2%——
NTES0.2%——
DVN0.2%——
OC0.2%——
HAL0.2%——
WMB0.2%——
SLB0.2%——
TRP0.2%——
ENB0.2%——
KMI0.2%——
CSL0.1%——
APTV0.1%——
ACM0.1%——
ITRI0.1%——
BKR0.1%——
QCOM0.1%——
AMRC0.1%——
CSIQ0.1%——
ENPH0.1%——
HOS0.0%——
AMG0.0%——
STT0.0%——
TER0.0%——
IVZ0.0%——
AMP0.0%——
RJF0.0%——
ENTG0.0%——
BEN0.0%——
JAZZ0.0%——
VRT0.0%——
KEYS0.0%——
BX0.0%——
ARES0.0%——
IEX0.0%——
MPWR0.0%——
KKR0.0%——
CG0.0%——
RVTY0.0%——
WMS0.0%——
EW0.0%——
ADUS0.0%——
MSCI0.0%——
ZBRA0.0%——
FTV0.0%——
TROW0.0%——
CDNS0.0%——
A0.0%——
APAM0.0%——
WELL0.0%——
EQIX0.0%——
LNT0.0%——
VTR0.0%——
AEP0.0%——
UNP0.0%——
WEC0.0%——
DLR0.0%——
PEG0.0%——
DUK0.0%——
PLD0.0%——
WTRG0.0%——
AMT0.0%——
SBAC0.0%——
BIDU0.0%——
JD0.0%——
BABA0.0%——
DE0.0%——
CLH0.0%——
LIN0.0%——
FSS0.0%——
ECL0.0%——
WM0.0%——
RSG0.0%——
SNPS0.0%——
CTAS0.0%——
XYL0.0%——
TTEK0.0%——
BMI0.0%——
DSGX0.0%——
CPRT0.0%——
ADSK0.0%——
PTC0.0%——
TRMB0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest2 Aug 2013 to 2 Nov 2026+12.0%+13.8%0.650.76−34.6%0.96−0.9% (−0.51)
2018 onwards5 Jan 2018 to 2 Nov 2026+13.1%+13.9%0.630.66−34.6%0.92+0.1% (0.05)
Last three years3 Nov 2023 to 2 Nov 2026+18.9%+21.8%1.131.16−10.9%0.73+1.7% (0.45)
Last year7 Nov 2025 to 2 Nov 2026+19.4%+14.2%1.470.84−8.0%0.60+8.1% (1.26)
DateCompanyAction
31 Jul 2026PEGBought
31 Jul 2026AMDBought
24 Apr 2026WELLBought
24 Apr 2026EWBought
13 Feb 2026XYLBought
13 Feb 2026WMBBought
13 Feb 2026WMBought
13 Feb 2026TTEKBought
13 Feb 2026TRMBBought
13 Feb 2026SNPSBought
13 Feb 2026RSGBought
13 Feb 2026PTCBought
13 Feb 2026LINBought
13 Feb 2026FSSBought
13 Feb 2026ECLBought
13 Feb 2026DSGXBought
13 Feb 2026DECBought
13 Feb 2026DEBought
13 Feb 2026CTASBought
13 Feb 2026CPRTBought
13 Feb 2026CLHBought
13 Feb 2026BMIBought
13 Feb 2026AEPBought
13 Feb 2026ADSKBought
13 Feb 2026ACMBought

Dated at the rebalance that made the change.

DateCompanyAction
31 Jul 2026INTUSold
31 Jul 2026ATHMSold
31 Jul 2026ADBESold
24 Apr 2026ONSold
24 Apr 2026IBPSold
24 Apr 2026DOCSold
24 Apr 2026DECSold
24 Apr 2026CHKPSold
13 Feb 2026EWSold
7 Nov 2025RALSold
7 Nov 2025ANETSold
20 Jun 2025ZBRASold
20 Jun 2025WMSSold
20 Jun 2025VLOSold
20 Jun 2025VSold
20 Jun 2025TXNSold
20 Jun 2025TTEKSold
20 Jun 2025TSMSold
20 Jun 2025TROWSold
20 Jun 2025TMOSold
20 Jun 2025THRMSold
20 Jun 2025TERSold
20 Jun 2025SWKSSold
20 Jun 2025SUSold
20 Jun 2025STTSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest