13F Portfolios

UTIMCO - The University of Texas — Quarter-over-Quarter 13F Allocation Shifts Q1 2026

In Q1 2026, UTIMCO - The University of Texas initiated 71 new positions, increased allocation to 10 existing positions, trimmed 10 positions, and exited 88 positions entirely. The fund's 13F equity book declined from $0.71B to $0.69B (-2.8% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.

Net Portfolio Value Change

  • $0.71B
    Prior quarter
  • $0.69B
    Current quarter
  • $-0.02B
    Net delta
  • -2.8%
    % change

New Position Initiations Q1 2026

Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.

UTIMCO - The University of Texas new positions in Q1 2026 — first-time disclosed long equity stakes
Company Ticker Initial Allocation Weight History
EVERCORE INC EVR 0.77% Holders →
MARATHON PETE CORP MPC 0.76% Holders →
FEDEX CORP FDX 0.57% Holders →
VERISIGN INC VRSN 0.55% Holders →
UNITEDHEALTH GROUP INC UNH 0.46% Holders →
RENAISSANCERE HLDGS LTD RNR 0.45% Holders →
CISCO SYS INC CSCO 0.42% Holders →
AUTODESK INC ADSK 0.41% Holders →
HOME DEPOT INC HD 0.40% Holders →
DANAHER CORP DEL DHR 0.34% Holders →
FREEPORT-MCMORAN INC FCX 0.31% Holders →
MCDONALDS CORP MCD 0.28% Holders →
VIATRIS INC. VTRS 0.25% Holders →
AMERICAN TOWER CORP AMT 0.23% Holders →
TOLL BROTHERS, INC. (TOL) TOL 0.19% Holders →
CRANE CO CR 0.17% Holders →
INDIVIOR PHARMACEUTICALS INC INDV 0.11% Holders →
ROCKET COMPANIES, INC., CLASS A RKT 0.08% Holders →
CIENA CORP CIEN 0.08% Holders →
YUM BRANDS INC YUM 0.08% Holders →
UNITED AIRLINES HOLDINGS INC UAL 0.07% Holders →
WATERS CORP WAT 0.05% Holders →
MYR GROUP INC MYRG 0.04% Holders →
ADAPTIVE BIOTECHNOLOGIES CORP ADPT 0.03% Holders →
CARVANA CO CVNA 0.03% Holders →
AMER SPORTS INC AS 0.03% Holders →
SOFI TECHNOLOGIES INC SOFI 0.01% Holders →
ZILLOW GROUP INC Z 0.01% Holders →
MODERNA INC MRNA 0.01% Holders →
CF INDUSTRIES HOLDINGS INC CF 0.01% Holders →
TAKE-TWO INTERACTIVE SOFTWARE TTWO 0.01% Holders →
ALBEMARLE CORP ALB 0.01% Holders →
SANDISK CORP/DE SNDK 0.01% Holders →
DAVITA, INC DVA 0.01% Holders →
DATADOG INC DDOG 0.01% Holders →
ESSENTIAL UTILITIES INC WTRG 0.01% Holders →
PAYPAL HLDGS INC PYPL 0.01% Holders →
KEYSIGHT TECHNOLOGIES INC KEYS 0.01% Holders →
SPIRE INC SR 0.01% Holders →
GENERAC HLDGS INC GNRC 0.01% Holders →
MOLINA HEALTHCARE INC MOH 0.01% Holders →
TEXAS PACIFIC LAND CORP TPL 0.01% Holders →
HUNTINGTON INGALLS INDS INC HII 0.01% Holders →
PARAMOUNT SKYDANCE CORP PSKY 0.00% Holders →
AXON ENTERPRISE, INC. AXON 0.00% Holders →
SUPER MICRO COMPUTER INC SMCI 0.00% Holders →
TOAST INC TOST 0.00% Holders →
PALOMAR HOLDINGS INC PLMR 0.00% Holders →
DARDEN RESTAURANTS INC DRI 0.00% Holders →
THE CIGNA GROUP CI 0.00% Holders →
SONY GROUP CORP SONY 0.00% Holders →
UNION PACIFIC CORP (UNP) UNP 0.00% Holders →
NORTHERN OIL & GAS INC NOG 0.00% Holders →
DIAMONDBACK ENERGY, INC. FANG 0.00% Holders →
EOG RESOURCES, INC. EOG 0.00% Holders →
ASTERA LABS INC ALAB 0.00% Holders →
MONGODB INC MDB 0.00% Holders →
GILEAD SCIENCES INC GILD 0.00% Holders →
CAMPBELL'S COMPANY/THE CPB 0.00% Holders →
CAL-MAINE FOODS INC CALM 0.00% Holders →
CIRCLE INTERNET GROUP INC CRCL 0.00% Holders →
MATERION CORP MTRN 0.00% Holders →
CENTRUS ENERGY CORP LEU 0.00% Holders →
COMCAST CORP NEW CMCSA 0.00% Holders →
WARNER BROS DISCOVERY INC WBD 0.00% Holders →
ELECTRONIC ARTS INC EA 0.00% Holders →
TKO GROUP HOLDINGS INC TKO 0.00% Holders →
DEVON ENERGY CORPORATION DVN 0.00% Holders →
CHARTER COMMUNICATIONS INC CHTR 0.00% Holders →
FOX CORPORATION CLASS A FOX 0.00% Holders →
ELF BEAUTY INC ELF 0.00% Holders →

Largest Allocation Increases Q1 2026

Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.

UTIMCO - The University of Texas largest portfolio weight increases in Q1 2026
Company Ticker Δ Weight Δ Shares History
LINDE PLC LIN +0.59% +5865.47% Holders →
SEAGATE TECHNOLOGY HOLDINGS PL STX +0.34% +4430.60% Holders →
CAMDEN PPTY TR CPT +0.20% +633.06% Holders →
WESTERN DIGITAL CORP WDC +0.29% +451.95% Holders →
NOVARTIS AG NVS +0.40% +451.30% Holders →
JOHNSON CONTROLS INTERNATIONAL PLC JCI +0.23% +381.84% Holders →
T-MOBILE US INC TMUS +0.12% +317.56% Holders →
THE BOEING COMPANY BA +0.35% +302.19% Holders →
ANALOG DEVICES INC ADI +0.29% +263.79% Holders →
THERMO FISHER SCIENTIFIC INC TMO +0.27% +246.48% Holders →

Largest Allocation Reductions Q1 2026

Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).

UTIMCO - The University of Texas largest portfolio weight decreases in Q1 2026
Company Ticker Δ Weight Δ Shares History
LIVE NATION ENTERTAINMENT IN LYV -0.03% -99.58% Holders →
NEWMONT CORP NEM -0.14% -98.71% Holders →
LOCKHEED MARTIN CORP LMT -0.26% -98.61% Holders →
ASML HOLDING NV ASML -0.10% -96.79% Holders →
NETFLIX INC NFLX -0.54% -96.73% Holders →
PULTEGROUP INC. (PHM) PHM -0.08% -96.16% Holders →
ORACLE CORP ORCL -0.16% -95.97% Holders →
VERTIV HOLDINGS CO VRT -0.01% -93.23% Holders →
WALMART INC WMT -0.38% -92.51% Holders →
US FOODS HOLDING CORP USFD -0.51% -88.86% Holders →

Exited Positions Q1 2026

Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.

UTIMCO - The University of Texas fully exited positions in Q1 2026
Company Ticker Last-Reported Portfolio Weight
MERCK & CO INC MRK 0.76%
BRISTOL-MYERS SQUIBB CO BMY 0.59%
PAYMENTUS HOLDINGS INC PAY 0.46%
BROADRIDGE FINANCIAL SOLUTIONS BR 0.38%
EXELON CORP EXC 0.35%
PFIZER INC PFE 0.35%
BIOMARIN PHARMACEUTICALS BMRN 0.35%
LOWES COS INC LOW 0.35%
CRH PLC (CRH) CRH 0.35%
HOWMET AEROSPACE INC HWM 0.33%
CAPITAL ONE FINL CORP COF 0.33%
INTUIT INTU 0.32%
TALEN ENERGY CORP TLN 0.30%
COUPANG INC CPNG 0.28%
BARRICK MNG CORP B 0.21%
LPL FINL HLDGS INC LPLA 0.17%
NU HOLDINGS LTD NU 0.16%
GRAB HOLDINGS LIMITED GRAB 0.15%
HUNTINGTON BANCSHARES INC HBAN 0.14%
ZOETIS INC ZTS 0.14%
SHOPIFY INC SHOP 0.13%
TRANE TECHNOLOGIES PLC TT 0.11%
PERFORMANCE FOOD GROUP CO PFGC 0.11%
GENUINE PARTS CO GPC 0.10%
INSMED INCORPORATED INSM 0.10%
AIRBNB INC ABNB 0.10%
OPENLANE INC OPLN 0.09%
CORPAY INC CPAY 0.08%
MOODYS CORP MCO 0.07%
APTIV PLC APTV 0.07%
PPL CORP PPL 0.06%
SPOTIFY TECHNOLOGY S A SPOT 0.05%
ARAMARK ARMK 0.05%
WEX INC WEX 0.05%
INDIVIOR PLC SYN_G4766E116 0.03%
CARPENTER TECHNOLOGY CORP CRS 0.03%
ATLASSIAN CORPORATION TEAM 0.03%
CALUMET INC CLMT 0.02%
CONSTELLATION ENERGY CEG 0.01%
DOORDASH INC DASH 0.01%
CROWDSTRIKE HLDGS INC CRWD 0.01%
PAR TECHNOLOGY CORP PAR 0.01%
FERRARI N V RACE 0.01%
MANHATTAN ASSOCIATES INC MANH 0.01%
NETAPP INC NTAP 0.01%
ISHARES MSCI USA VALUE FACTOR ETF VLUE 0.01%
ISHARES TR IJR 0.01%
MKS INC. MKSI 0.01%
HERC HLDGS INC HRI 0.01%
FIRST TRUST RISING DIVIDEND ACHIEVERS ETF RDVY 0.01%
ABBVIE INC ABBV 0.01%
PALO ALTO NETWORKS INC PANW 0.00%
KLA KLAC 0.00%
INCYTE CORPORATION INCY 0.00%
TAPESTRY INC TPR 0.00%
ZSCALER INC ZS 0.00%
MONOLITHIC POWER SYSTEMS MPWR 0.00%
CADENCE DESIGN SYSTEMS, INC. CDNS 0.00%
ROYAL CARIBBEAN GROUP RCL 0.00%
COASTAL FINANCIAL CORP/WA CCB 0.00%
INSULET CORP PODD 0.00%
LYFT INC LYFT 0.00%
INVESCO QQQ TR QQQ 0.00%
INTUITIVE SURGICAL, INC. ISRG 0.00%
ROBINHOOD MKTS INC HOOD 0.00%
ABERCROMBIE & FITCH CO CL-A ANF 0.00%
COPART, INC. CPRT 0.00%
ROCKWELL AUTOMATION INC ROK 0.00%
CHURCHILL DOWNS INC CHDN 0.00%
PIPER SANDLER COMPANIES SYN_724078100 0.00%
AUTOMATIC DATA PROCESSING IN ADP 0.00%
WELLS FARGO & CO WFC 0.00%
SENTINELONE INC S 0.00%
COMSTOCK RESOURCES INC CRK 0.00%
ABBOTT LABS ABT 0.00%
APA CORPORATION APA 0.00%
UNITY SOFTWARE INC U 0.00%
AZENTA INC AZTA 0.00%
MARVELL TECHNOLOGY, INC. MRVL 0.00%
FERMI INC. FRMI 0.00%
INNODATA INC INOD 0.00%
VANGUARD WORLD FD VGT 0.00%
DOMINION ENERGY, INC. D 0.00%
STRYKER CORPORATION SYK 0.00%
F5 INC FFIV 0.00%
CINCINNATI FINL CORP CINF 0.00%
ENERGY FUELS INC/CANADA UUUU 0.00%
SMURFIT WESTROCK PUBLIC LIMITED COMPANY SW 0.00%

Methodology & FAQ

How UTIMCO - The University of Texas Quarterly Changes Are Computed

Each row above is computed by joining the most recent 13F-HR filing for UTIMCO - The University of Texas against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.

Which positions did UTIMCO - The University of Texas initiate in Q1 2026?

UTIMCO - The University of Texas established 71 new positions in Q1 2026: EVERCORE INC (EVR, 0.77%), MARATHON PETE CORP (MPC, 0.76%), FEDEX CORP (FDX, 0.57%), VERISIGN INC (VRSN, 0.55%), UNITEDHEALTH GROUP INC (UNH, 0.46%), RENAISSANCERE HLDGS LTD (RNR, 0.45%), CISCO SYS INC (CSCO, 0.42%), AUTODESK INC (ADSK, 0.41%), HOME DEPOT INC (HD, 0.40%), DANAHER CORP DEL (DHR, 0.34%), FREEPORT-MCMORAN INC (FCX, 0.31%), MCDONALDS CORP (MCD, 0.28%), VIATRIS INC. (VTRS, 0.25%), AMERICAN TOWER CORP (AMT, 0.23%), TOLL BROTHERS, INC. (TOL) (TOL, 0.19%), CRANE CO (CR, 0.17%), INDIVIOR PHARMACEUTICALS INC (INDV, 0.11%), ROCKET COMPANIES, INC., CLASS A (RKT, 0.08%), CIENA CORP (CIEN, 0.08%), YUM BRANDS INC (YUM, 0.08%), UNITED AIRLINES HOLDINGS INC (UAL, 0.07%), WATERS CORP (WAT, 0.05%), MYR GROUP INC (MYRG, 0.04%), ADAPTIVE BIOTECHNOLOGIES CORP (ADPT, 0.03%), CARVANA CO (CVNA, 0.03%), AMER SPORTS INC (AS, 0.03%), SOFI TECHNOLOGIES INC (SOFI, 0.01%), ZILLOW GROUP INC (Z, 0.01%), MODERNA INC (MRNA, 0.01%), CF INDUSTRIES HOLDINGS INC (CF, 0.01%), TAKE-TWO INTERACTIVE SOFTWARE (TTWO, 0.01%), ALBEMARLE CORP (ALB, 0.01%), SANDISK CORP/DE (SNDK, 0.01%), DAVITA, INC (DVA, 0.01%), DATADOG INC (DDOG, 0.01%), ESSENTIAL UTILITIES INC (WTRG, 0.01%), PAYPAL HLDGS INC (PYPL, 0.01%), KEYSIGHT TECHNOLOGIES INC (KEYS, 0.01%), SPIRE INC (SR, 0.01%), GENERAC HLDGS INC (GNRC, 0.01%), MOLINA HEALTHCARE INC (MOH, 0.01%), TEXAS PACIFIC LAND CORP (TPL, 0.01%), HUNTINGTON INGALLS INDS INC (HII, 0.01%), PARAMOUNT SKYDANCE CORP (PSKY, 0.00%), AXON ENTERPRISE, INC. (AXON, 0.00%), SUPER MICRO COMPUTER INC (SMCI, 0.00%), TOAST INC (TOST, 0.00%), PALOMAR HOLDINGS INC (PLMR, 0.00%), DARDEN RESTAURANTS INC (DRI, 0.00%), THE CIGNA GROUP (CI, 0.00%), SONY GROUP CORP (SONY, 0.00%), UNION PACIFIC CORP (UNP) (UNP, 0.00%), NORTHERN OIL & GAS INC (NOG, 0.00%), DIAMONDBACK ENERGY, INC. (FANG, 0.00%), EOG RESOURCES, INC. (EOG, 0.00%), ASTERA LABS INC (ALAB, 0.00%), MONGODB INC (MDB, 0.00%), GILEAD SCIENCES INC (GILD, 0.00%), CAMPBELL'S COMPANY/THE (CPB, 0.00%), CAL-MAINE FOODS INC (CALM, 0.00%), CIRCLE INTERNET GROUP INC (CRCL, 0.00%), MATERION CORP (MTRN, 0.00%), CENTRUS ENERGY CORP (LEU, 0.00%), COMCAST CORP NEW (CMCSA, 0.00%), WARNER BROS DISCOVERY INC (WBD, 0.00%), ELECTRONIC ARTS INC (EA, 0.00%), TKO GROUP HOLDINGS INC (TKO, 0.00%), DEVON ENERGY CORPORATION (DVN, 0.00%), CHARTER COMMUNICATIONS INC (CHTR, 0.00%), FOX CORPORATION CLASS A (FOX, 0.00%), ELF BEAUTY INC (ELF, 0.00%).

Which existing positions saw the largest allocation increases for UTIMCO - The University of Texas in Q1 2026?

The largest portfolio-weight increases in existing positions were: LINDE PLC (LIN, +0.59% weight, +5865.47% shares), SEAGATE TECHNOLOGY HOLDINGS PL (STX, +0.34% weight, +4430.60% shares), CAMDEN PPTY TR (CPT, +0.20% weight, +633.06% shares), WESTERN DIGITAL CORP (WDC, +0.29% weight, +451.95% shares), NOVARTIS AG (NVS, +0.40% weight, +451.30% shares), JOHNSON CONTROLS INTERNATIONAL PLC (JCI, +0.23% weight, +381.84% shares), T-MOBILE US INC (TMUS, +0.12% weight, +317.56% shares), THE BOEING COMPANY (BA, +0.35% weight, +302.19% shares), ANALOG DEVICES INC (ADI, +0.29% weight, +263.79% shares), THERMO FISHER SCIENTIFIC INC (TMO, +0.27% weight, +246.48% shares).

Which positions did UTIMCO - The University of Texas fully exit in Q1 2026?

UTIMCO - The University of Texas fully exited 88 positions in Q1 2026: MERCK & CO INC (MRK, last-reported weight 0.76%), BRISTOL-MYERS SQUIBB CO (BMY, last-reported weight 0.59%), PAYMENTUS HOLDINGS INC (PAY, last-reported weight 0.46%), BROADRIDGE FINANCIAL SOLUTIONS (BR, last-reported weight 0.38%), EXELON CORP (EXC, last-reported weight 0.35%), PFIZER INC (PFE, last-reported weight 0.35%), BIOMARIN PHARMACEUTICALS (BMRN, last-reported weight 0.35%), LOWES COS INC (LOW, last-reported weight 0.35%), CRH PLC (CRH) (CRH, last-reported weight 0.35%), HOWMET AEROSPACE INC (HWM, last-reported weight 0.33%), CAPITAL ONE FINL CORP (COF, last-reported weight 0.33%), INTUIT (INTU, last-reported weight 0.32%), TALEN ENERGY CORP (TLN, last-reported weight 0.30%), COUPANG INC (CPNG, last-reported weight 0.28%), BARRICK MNG CORP (B, last-reported weight 0.21%), LPL FINL HLDGS INC (LPLA, last-reported weight 0.17%), NU HOLDINGS LTD (NU, last-reported weight 0.16%), GRAB HOLDINGS LIMITED (GRAB, last-reported weight 0.15%), HUNTINGTON BANCSHARES INC (HBAN, last-reported weight 0.14%), ZOETIS INC (ZTS, last-reported weight 0.14%), SHOPIFY INC (SHOP, last-reported weight 0.13%), TRANE TECHNOLOGIES PLC (TT, last-reported weight 0.11%), PERFORMANCE FOOD GROUP CO (PFGC, last-reported weight 0.11%), GENUINE PARTS CO (GPC, last-reported weight 0.10%), INSMED INCORPORATED (INSM, last-reported weight 0.10%), AIRBNB INC (ABNB, last-reported weight 0.10%), OPENLANE INC (OPLN, last-reported weight 0.09%), CORPAY INC (CPAY, last-reported weight 0.08%), MOODYS CORP (MCO, last-reported weight 0.07%), APTIV PLC (APTV, last-reported weight 0.07%), PPL CORP (PPL, last-reported weight 0.06%), SPOTIFY TECHNOLOGY S A (SPOT, last-reported weight 0.05%), ARAMARK (ARMK, last-reported weight 0.05%), WEX INC (WEX, last-reported weight 0.05%), INDIVIOR PLC (SYN_G4766E116, last-reported weight 0.03%), CARPENTER TECHNOLOGY CORP (CRS, last-reported weight 0.03%), ATLASSIAN CORPORATION (TEAM, last-reported weight 0.03%), CALUMET INC (CLMT, last-reported weight 0.02%), CONSTELLATION ENERGY (CEG, last-reported weight 0.01%), DOORDASH INC (DASH, last-reported weight 0.01%), CROWDSTRIKE HLDGS INC (CRWD, last-reported weight 0.01%), PAR TECHNOLOGY CORP (PAR, last-reported weight 0.01%), FERRARI N V (RACE, last-reported weight 0.01%), MANHATTAN ASSOCIATES INC (MANH, last-reported weight 0.01%), NETAPP INC (NTAP, last-reported weight 0.01%), ISHARES MSCI USA VALUE FACTOR ETF (VLUE, last-reported weight 0.01%), ISHARES TR (IJR, last-reported weight 0.01%), MKS INC. (MKSI, last-reported weight 0.01%), HERC HLDGS INC (HRI, last-reported weight 0.01%), FIRST TRUST RISING DIVIDEND ACHIEVERS ETF (RDVY, last-reported weight 0.01%), ABBVIE INC (ABBV, last-reported weight 0.01%), PALO ALTO NETWORKS INC (PANW, last-reported weight 0.00%), KLA (KLAC, last-reported weight 0.00%), INCYTE CORPORATION (INCY, last-reported weight 0.00%), TAPESTRY INC (TPR, last-reported weight 0.00%), ZSCALER INC (ZS, last-reported weight 0.00%), MONOLITHIC POWER SYSTEMS (MPWR, last-reported weight 0.00%), CADENCE DESIGN SYSTEMS, INC. (CDNS, last-reported weight 0.00%), ROYAL CARIBBEAN GROUP (RCL, last-reported weight 0.00%), COASTAL FINANCIAL CORP/WA (CCB, last-reported weight 0.00%), INSULET CORP (PODD, last-reported weight 0.00%), LYFT INC (LYFT, last-reported weight 0.00%), INVESCO QQQ TR (QQQ, last-reported weight 0.00%), INTUITIVE SURGICAL, INC. (ISRG, last-reported weight 0.00%), ROBINHOOD MKTS INC (HOOD, last-reported weight 0.00%), ABERCROMBIE & FITCH CO CL-A (ANF, last-reported weight 0.00%), COPART, INC. (CPRT, last-reported weight 0.00%), ROCKWELL AUTOMATION INC (ROK, last-reported weight 0.00%), CHURCHILL DOWNS INC (CHDN, last-reported weight 0.00%), PIPER SANDLER COMPANIES (SYN_724078100, last-reported weight 0.00%), AUTOMATIC DATA PROCESSING IN (ADP, last-reported weight 0.00%), WELLS FARGO & CO (WFC, last-reported weight 0.00%), SENTINELONE INC (S, last-reported weight 0.00%), COMSTOCK RESOURCES INC (CRK, last-reported weight 0.00%), ABBOTT LABS (ABT, last-reported weight 0.00%), APA CORPORATION (APA, last-reported weight 0.00%), UNITY SOFTWARE INC (U, last-reported weight 0.00%), AZENTA INC (AZTA, last-reported weight 0.00%), MARVELL TECHNOLOGY, INC. (MRVL, last-reported weight 0.00%), FERMI INC. (FRMI, last-reported weight 0.00%), INNODATA INC (INOD, last-reported weight 0.00%), VANGUARD WORLD FD (VGT, last-reported weight 0.00%), DOMINION ENERGY, INC. (D, last-reported weight 0.00%), STRYKER CORPORATION (SYK, last-reported weight 0.00%), F5 INC (FFIV, last-reported weight 0.00%), CINCINNATI FINL CORP (CINF, last-reported weight 0.00%), ENERGY FUELS INC/CANADA (UUUU, last-reported weight 0.00%), SMURFIT WESTROCK PUBLIC LIMITED COMPANY (SW, last-reported weight 0.00%).

Which existing positions saw the largest allocation reductions for UTIMCO - The University of Texas in Q1 2026?

The largest portfolio-weight reductions in positions kept open were: LIVE NATION ENTERTAINMENT IN (LYV, -0.03% weight, -99.58% shares), NEWMONT CORP (NEM, -0.14% weight, -98.71% shares), LOCKHEED MARTIN CORP (LMT, -0.26% weight, -98.61% shares), ASML HOLDING NV (ASML, -0.10% weight, -96.79% shares), NETFLIX INC (NFLX, -0.54% weight, -96.73% shares), PULTEGROUP INC. (PHM) (PHM, -0.08% weight, -96.16% shares), ORACLE CORP (ORCL, -0.16% weight, -95.97% shares), VERTIV HOLDINGS CO (VRT, -0.01% weight, -93.23% shares), WALMART INC (WMT, -0.38% weight, -92.51% shares), US FOODS HOLDING CORP (USFD, -0.51% weight, -88.86% shares).

Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?

No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.