CIK: 0001678434
Total reported value
$51.8B
Reporting period: 2016-09-30 · Number of holdings: 10960
Emerald Acquisition Ltd. disclosed 10960 holdings in its latest 13F filing for the period ending 2016-09-30, with total reported value of $51.8B and a quarterly turnover rate of 25.3%.
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Emerald Acquisition Ltd.'s disclosed holdings carry a Herfindahl concentration index of 0.003 — mathematically equivalent to about 339 equally-sized positions, well below its 10960 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.79), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 36% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add BABA
+25.4% $106.5M
Add INTC
+8.5% $73.4M
Trim WFC
-21.1% -$160.3M
Add GOOG
-2.0% $48.6M
Add AMZN
-6.8% $43.2M
Add KMI
+32.6% $67.9M
Emerald is actively rotating capital out of large-cap defensives (JNJ, PFE, WFC, XOM) and into a single high-growth bet on BABA, a clear signal they are hunting Alpha by shorting the safety trade and leaning into a China-driven growth narrative. The scale of the BABA increase against the backdrop of trimming multiple stalwarts suggests a deliberate shift from income/safety to momentum conviction—this is not rebalancing, it's a position squeeze upward.
The simultaneous trimming of JNJ, PFE, WFC, and XOM while adding BABA prices in a regime shift where the post-Brexit risk-off trade has exhausted and reflation is the next act. Emerald is betting that global growth will accelerate, leaving bond-proxy sectors (healthcare, banks, energy) to lag while internet/consumer cyclicals lead. The opposing thesis: if global GDP stumbles or the US election triggers flight-to-safety, BABA becomes a liquidity vortex and the trimmed defensives would have been the only shelter.
The portfolio's 2,980 holdings and HHI below 0.003 mask that capital is being concentrated in a single ticker (BABA) on the growth factor—exactly when that factor is most consensus and exposed to multiple compression. The high turnover ratio (~25%) combined with contradictory JNJ trades (tacked with both new buys and sold-outs in the same quarter) reveals execution noise or tax-arbitrage that muddies conviction; the real vulnerability is that the fund's systematic diversification is a mirage, hiding a crowded momentum bet that could reverse violently on a rotation to value.
Produced with AI assistance from publicly disclosed 13F data. Historical only; not a personalized investment recommendation.
Showing top 200 holdings (of 10960 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | Stock-Tech | 1.36% | — | -10.67% | |
| 2 | JNJ | Johnson & Johnson | Stock-Healthcare | 1.27% | -0.13% | -16.47% | |
| 3 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 1.11% | — | -18.15% | |
| 4 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.02% | +0.19% | -1.98% | |
| 5 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.01% | +0.18% | -6.84% | |
| 6 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.99% | — | -12.12% | |
| 7 | C | Citigroup INC | Stock-Financials | 0.97% | — | -10.37% | |
| 8 | ORCL | Oracle CORP | Stock-Tech | 0.90% | -0.04% | -9.97% | |
| 9 | WFC | Wells Fargo & Co | Stock-Financials | 0.87% | -0.19% | -21.12% | |
| 10 | PFE | Pfizer INC | Stock-Healthcare | 0.87% | -0.09% | -15.72% | |
| 11 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.85% | — | -4.22% | |
| 12 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.81% | — | -7.16% | |
| 13 | V | Visa Inc-class A Shares | Stock-Financials | 0.77% | — | -12.92% | |
| 14 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.74% | — | -7.97% | |
| 15 | BAC | Bank Of America CORP | Stock-Financials | 0.73% | — | -12.34% | |
| 16 | INTC | Intel CORP | Stock-Tech | 0.71% | +0.20% | +8.45% | |
| 17 | PEP | Pepsico INC | Stock-Consumer Staples | 0.69% | — | -6.53% | |
| 18 | XOM | Exxon Mobil CORP | Stock-Energy | 0.64% | -0.13% | -19.15% | |
| 19 | T | At&t INC | Stock-Comm Services | 0.61% | -0.06% | -12.83% | |
| 20 | SPG | Simon Property Group INC | Stock-Real Estate | 0.58% | -0.03% | -11.27% | |
| 21 | MDT | Medtronic plc | Stock-Healthcare | 0.58% | -0.05% | -17.14% | |
| 22 | HON | Honeywell International INC | Stock-Industrials | 0.53% | -0.08% | -21.52% | |
| 23 | MRK | Merck & Co. INC. | Stock-Healthcare | 0.52% | — | -8.89% | |
| 24 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.52% | -0.02% | -11.92% | |
| 25 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 0.51% | +0.23% | +25.41% | |
| 26 | VZ | Verizon Communications INC | Stock-Comm Services | 0.51% | — | -4.61% | |
| 27 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 0.49% | -0.09% | -24.85% | |
| 28 | WMT | Walmart INC | Stock-Consumer Staples | 0.45% | — | -9.91% | |
| 29 | NEE | Nextera Energy INC | Stock-Utilities | 0.43% | — | -8.08% | |
| 30 | ✓ | Stock-Other | 0.43% | — | -2.94% | ||
| 31 | STT | State Street CORP | Stock-Financials | 0.43% | — | -22.73% | |
| 32 | CSCO | Cisco Systems INC | Stock-Tech | 0.43% | — | -18.54% | |
| 33 | SLB | Slb LTD | Stock-Energy | 0.41% | -0.05% | -18.96% | |
| 34 | PM | Philip Morris International | Stock-Consumer Staples | 0.40% | -0.07% | -19.67% | |
| 35 | MA | Mastercard INC - A | Stock-Financials | 0.40% | — | -15.95% | |
| 36 | RY | Royal Bank Of Canada | Stock-Financials | 0.39% | — | -7.53% | |
| 37 | KO | Coca-cola Co/the | Stock-Consumer Staples | 0.38% | — | -10.26% | |
| 38 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.38% | — | +1.82% | |
| 39 | CNI | Canadian Natl Railway Co | Stock-Industrials | 0.37% | — | -20.21% | |
| 40 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.37% | -0.11% | -32.48% | |
| 41 | NKE | Nike INC -cl B | Stock-Consumer Disc | 0.37% | — | +0.48% | |
| 42 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 0.36% | — | -15.00% | |
| 43 | CI | The Cigna Group | Stock-Healthcare | 0.35% | — | +9.59% | |
| 44 | HD | Home Depot INC | Stock-Consumer Disc | 0.34% | — | -11.32% | |
| 45 | TD | Toronto-dominion Bank | Stock-Financials | 0.34% | — | -18.43% | |
| 46 | TCPA | TransCanada PipeLines Limited 6 | Stock-Other | 0.34% | +0.11% | +26.52% | |
| 47 | ✓ | Delphi Automotive PLC | Stock-Other | 0.34% | — | +1.84% | |
| 48 | CNH | CNH Industrial N.V. | Stock-Industrials | 0.34% | — | +2.01% | |
| 49 | KMI | Kinder Morgan INC | Stock-Energy | 0.34% | +0.16% | +32.61% | |
| 50 | ENB | Enbridge INC | Stock-Energy | 0.34% | — | +5.73% |
Not enough priced holdings yet to compute performance
Emerald Acquisition Ltd.'s most significant position changes for 2016-09-30: Sold out: ; New buy: Johnson & Johnson (JNJ); Sold out: Johnson & Johnson (JNJ); Sold out: First Solar, Inc. (FSLR); New buy: Ihs Markit LTD (IHS).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | BABA | Alibaba Group Holding-sp Adr | +0.2% | +25.41% | Add |
| 2 | INTC | Intel CORP | +0.2% | +8.45% | Add |
| 3 | GOOG | Alphabet Inc-cl C | +0.2% | -1.98% | Trim |
| 4 | AMZN | Amazon.com INC | +0.2% | -6.84% | Trim |
| 5 | KMI | Kinder Morgan INC | +0.2% | +32.61% | Add |
| 6 | KEY | Keycorp | +0.1% | +195.34% | Add |
| 7 | TCPA | TransCanada PipeLines Limited 6 | +0.1% | +26.52% | Add |
| 8 | DUK | Du Pont E I De Nemour&Co | +0.1% | +345.05% | Add |
| 9 | FITB | Fifth Third Bancorp | +0.1% | +40.81% | Add |
| 10 | NFLX | Netflix INC | +0.1% | +754.87% | Add |
| 11 | UNH | Unitedhealth Group INC | 0% | -11.92% | Trim |
| 12 | SPG | Simon Property Group INC | 0% | -11.27% | Trim |
| 13 | ORCL | Oracle CORP | 0% | -9.97% | Trim |
| 14 | MDT | Medtronic plc | -0.1% | -17.14% | Trim |
| 15 | SLB | Slb LTD | -0.1% | -18.96% | Trim |
| 16 | BMY | Bristol-myers Squibb Co | -0.1% | +5.38% | Add |
| 17 | CVS | Cvs Health CORP | -0.1% | -24.03% | Trim |
| 18 | TWXCHF | Time Warner INC | -0.1% | -30.36% | Trim |
| 19 | AXP | American Express Co | -0.1% | -39.47% | Trim |
| 20 | IBN | Icici Bank Ltd-spon Adr | -0.1% | -36.90% | Trim |
| 21 | T | At&t INC | -0.1% | -12.83% | Trim |
| 22 | LOW | Lowe's Cos INC | -0.1% | -21.46% | Trim |
| 23 | CVX | Chevron CORP | -0.1% | -26.59% | Trim |
| 24 | PM | Philip Morris International | -0.1% | -19.67% | Trim |
| 25 | AON | Aon plc | -0.1% | -33.21% | Trim |
| 26 | DG | Dollar General CORP | -0.1% | -55.92% | Trim |
| 27 | HON | Honeywell International INC | -0.1% | -21.52% | Trim |
| 28 | AEP | American Electric Power Company, Inc. | -0.1% | -24.83% | Trim |
| 29 | DUK | Duke Energy CORP | -0.1% | -46.35% | Trim |
| 30 | PFE | Pfizer INC | -0.1% | -15.72% | Trim |
| 31 | BRK-B | Berkshire Hathaway Inc-cl B | -0.1% | -24.85% | Trim |
| 32 | MKL | Markel Group INC | -0.1% | -42.02% | Trim |
| 33 | ABEV | Ambev Sa-adr | -0.1% | -57.87% | Trim |
| 34 | MCD | Mcdonald's CORP | -0.1% | -41.74% | Trim |
| 35 | DOW | Dow Chem Co | -0.1% | -56.90% | Trim |
| 36 | CMCSA | Comcast Corp-class A | -0.1% | -32.48% | Trim |
| 37 | ELV | Elevance Health INC | -0.1% | -31.71% | Trim |
| 38 | MO | Altria Group INC | -0.1% | -32.76% | Trim |
| 39 | JNJ | Johnson & Johnson | -0.1% | -16.47% | Trim |
| 40 | XOM | Exxon Mobil CORP | -0.1% | -19.15% | Trim |
| 41 | GLW | Corning INC | -0.1% | -69.20% | Trim |
| 42 | ✓ | St Jude Med INC | -0.2% | -72.78% | Trim |
| 43 | WFC | Wells Fargo & Co | -0.2% | -21.12% | Trim |
| 44 | ✓ | — | EXIT | Sold out | |
| 45 | JNJ | Johnson & Johnson | — | NEW | New buy |
| 46 | JNJ | Johnson & Johnson | — | EXIT | Sold out |
| 47 | FSLR | First Solar, Inc. | — | EXIT | Sold out |
| 48 | IHS | Ihs Markit LTD | — | NEW | New buy |
| 49 | ✓ | Xl Group LTD Com | — | NEW | New buy |
| 50 | PEG | Public Service Enterprise Group Incorporated | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2016-09-30 | 2016-11-09 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-03 | 13F-HR | View on EDGAR |
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