CIK: 0001729829
Total reported value
$89.9B
Reporting period: 2026-03-31 · Number of holdings: 3481
Qube Research & Technologies Ltd disclosed 3481 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $89.9B and a quarterly turnover rate of 66.3%.
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Qube Research & Technologies Ltd's disclosed holdings carry a Herfindahl concentration index of 0.004 — mathematically equivalent to about 264 equally-sized positions, well below its 3481 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 3.10), 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.
Trim WMT
-95.3% -$1.3B
Trim NVDA
-40.8% -$1.1B
Trim AMD
-69.9% -$774.7M
Trim AMZN
-38.1% -$788.2M
Add GOOG
+82.1% $440.0M
Trim AVGO
-32.0% -$566.8M
Qube is in full capital rotation mode: systematically trimming the most crowded long positions (NVDA, AVGO, AMZN, WMT) to lock in alpha and reduce concentration risk, while adding GOOG as a lower-beta AI proxy. This is factor rebalancing, not a top-down call — the fund's algorithm is harvesting dispersion but leaving the portfolio structurally long growth.
The rotation out of hardware semis and consumer staples into Alphabet signals a bet that AI returns will broaden from chip pricing power to platform monetization, all while eschewing defensive safety. The opposing thesis: the semiconductor cycle is still early, and GOOG's multiple faces headwinds from regulatory overhang and capex intensity that this trend-following framework may be underestimating.
The 2,800+ holdings and perfect diversification score (100) are a statistical mirage — the portfolio's momentum tilt and systematic trimming of winners means its true factor exposure is dangerously uniform. If momentum reverses, the fund will be forced to slough off hundreds of positions into a crowded exit, exposing a structural liquidity trap.
The above is AI-generated from public regulatory filings and summarizes historical data only. It is not investment advice.
Showing top 200 holdings (of 3481 total)
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | AAPL | Apple INC | Stock-Tech | 2.18% | — | +3.71% | |
| 2 | MSFT | Microsoft CORP | Stock-Tech | 1.90% | — | +33.89% | |
| 3 | NVDA | Nvidia CORP | Stock-Tech | 1.48% | -0.96% | -40.78% | |
| 4 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.47% | — | -3.47% | |
| 5 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 1.23% | +0.56% | +82.07% | |
| 6 | MU | Micron Technology INC | Stock-Tech | 1.15% | — | -0.12% | |
| 7 | AMZN | Amazon.com INC | Stock-Consumer Disc | 1.11% | -0.70% | -38.11% | |
| 8 | AVGO | Broadcom INC | Stock-Tech | 0.98% | -0.49% | -32.02% | |
| 9 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.97% | +0.38% | +75.95% | |
| 10 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.95% | +0.30% | +53.09% | |
| 11 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.95% | +0.30% | +46.27% | |
| 12 | TSLA | Tesla INC | Stock-Consumer Disc | 0.91% | — | +10.96% | |
| 13 | NFLX | Netflix INC | Stock-Comm Services | 0.87% | — | -17.88% | |
| 14 | V | Visa Inc-class A Shares | Stock-Financials | 0.65% | — | -6.16% | |
| 15 | HYG | Ishr Ibx Usd Hiyld Cb Etf-ui | ETF-High Yield | 0.65% | — | +21.82% | |
| 16 | MRVL | Marvell Technology INC | Stock-Tech | 0.64% | — | +30.20% | |
| 17 | SNDK | Sandisk CORP | Stock-Tech | 0.60% | +0.34% | -22.02% | |
| 18 | CVX | Chevron CORP | Stock-Energy | 0.55% | +0.33% | +70.48% | |
| 19 | C | Citigroup INC | Stock-Financials | 0.54% | — | +23.16% | |
| 20 | BAC | Bank Of America CORP | Stock-Financials | 0.53% | — | +14.92% | |
| 21 | LMT | Lockheed Martin CORP | Stock-Industrials | 0.53% | +0.37% | +148.95% | |
| 22 | NEM | Newmont CORP | Stock-Materials | 0.51% | +0.29% | +93.75% | |
| 23 | GE | General Electric | Stock-Industrials | 0.50% | +0.28% | +125.88% | |
| 24 | WBD | Warner Bros Discovery INC | Stock-Comm Services | 0.50% | +0.27% | +113.04% | |
| 25 | GM | General Motors Co | Stock-Consumer Disc | 0.49% | — | +82.88% | |
| 26 | AMAT | Applied Materials INC | Stock-Tech | 0.48% | — | +9.98% | |
| 27 | UBS | UBS Group AG | Stock-Financials | 0.46% | +0.24% | +136.31% | |
| 28 | PH | Parker Hannifin CORP | Stock-Industrials | 0.46% | +0.37% | +355.15% | |
| 29 | COF | Capital One Financial CORP | Stock-Financials | 0.45% | — | +106.76% | |
| 30 | ADBE | Adobe INC | Stock-Tech | 0.44% | -0.45% | -34.99% | |
| 31 | XLE | Ss Energy Select Sector | ETF-Other | 0.41% | +0.40% | +3828.93% | |
| 32 | FDX | Fedex CORP | Stock-Industrials | 0.41% | +0.33% | +261.70% | |
| 33 | ASML | ASML Holding N.V. | Stock-Tech | 0.41% | — | +2.98% | |
| 34 | COST | Costco Wholesale CORP | Stock-Consumer Staples | 0.40% | -0.49% | -64.43% | |
| 35 | BSX | Boston Scientific CORP | Stock-Healthcare | 0.40% | — | +2.04% | |
| 36 | TPR | Tapestry INC | Stock-Consumer Disc | 0.38% | — | -0.20% | |
| 37 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.38% | -0.37% | -43.89% | |
| 38 | LRCX | Lam Research CORP | Stock-Tech | 0.37% | — | -0.62% | |
| 39 | APH | Amphenol Corp-cl A | Stock-Tech | 0.37% | +0.28% | +304.96% | |
| 40 | RTX | Rtx CORP | Stock-Industrials | 0.37% | — | +117.55% | |
| 41 | ACN | Accenture plc | Stock-Tech | 0.36% | — | +74.15% | |
| 42 | WFC | Wells Fargo & Co | Stock-Financials | 0.36% | — | +64.40% | |
| 43 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.36% | — | +28.99% | |
| 44 | HON | Honeywell International INC | Stock-Industrials | 0.36% | -0.22% | -51.27% | |
| 45 | TJX | Tjx Companies INC | Stock-Consumer Disc | 0.36% | -0.24% | -47.37% | |
| 46 | NOW | Servicenow INC | Stock-Tech | 0.35% | — | +30.83% | |
| 47 | AMD | Advanced Micro Devices | Stock-Tech | 0.35% | -0.75% | -69.85% | |
| 48 | AME | Ametek INC | Stock-Industrials | 0.34% | — | +28.16% | |
| 49 | PEP | Pepsico INC | Stock-Consumer Staples | 0.34% | — | -13.05% | |
| 50 | LNG | Cheniere Energy INC | Stock-Energy | 0.34% | — | -26.48% |
Performance for Q3 2026
+4.5%
Performance Last 4 Quarters
+20.6%
Based on 73% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 3481 | $89.9B | 66 | |
| 2025-12-31 | 3633 | $98.4B | 59 | |
| 2025-09-30 | 3528 | $96.8B | 63 | |
| 2025-06-30 | 3505 | $98.4B | 0 | |
| 2025-03-31 | 3445 | $86.2B | 100 | |
| 2024-12-31 | 3415 | $76.3B | 0 | |
| 2024-09-30 | 3210 | $67.8B | 0 | |
| 2024-06-30 | 5720 | $63.3B | 0 | |
| 2024-03-31 | 5292 | $63.1B | 0 | |
| 2023-12-31 | 5120 | $51.4B | 0 | |
| 2023-09-30 | 4368 | $38.3B | 0 | |
| 2023-06-30 | 2334 | $27.5B | 0 | |
| 2023-03-31 | 2482 | $23.2B | 0 | |
| 2022-12-31 | 2402 | $18.7B | 0 | |
| 2022-09-30 | 2457 | $16.8B | 0 | |
| 2022-06-30 | 2434 | $13.6B | 0 | |
| 2022-03-31 | 2387 | $11.8B | 0 | |
| 2021-12-31 | 2473 | $13.0B | 0 | |
| 2021-09-30 | 2127 | $8.0B | 0 | |
| 2021-06-30 | 2203 | $8.8B | 84 | |
| 2021-03-31 | 1859 | $6.3B | 100 | |
| 2020-12-31 | 1754 | $7.0B | 100 | |
| 2020-09-30 | 1612 | $7.0B | 100 | |
| 2020-06-30 | 1679 | $6.8B | 100 | |
| 2020-03-31 | 1067 | $2.4B | 100 | |
| 2019-12-31 | 1508 | $3.2B | 100 | |
| 2019-09-30 | 239 | $150.1M | 100 | |
| 2019-06-30 | 386 | $420.0M | 100 | |
| 2019-03-31 | 411 | $757.2M | 100 | |
| 2018-12-31 | 287 | $231.8M | 100 | |
| 2018-09-30 | 1045 | $752.2M | 100 | |
| 2018-06-30 | 824 | $158.5M | 100 | |
| 2018-03-31 | 328 | $260.2M | 0 |
Qube Research & Technologies Ltd's most significant position changes for 2026-03-31: Sold out: Eog Resources INC (EOG); New buy: Williams Cos INC (WMB); Sold out: Vertiv Holdings Co-a (VRT); Sold out: Cyberark Software LTD; Sold out: Frontier Communications Pare (FYBR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GOOG | Alphabet Inc-cl C | +0.6% | +82.07% | Add |
| 2 | XLE | Ss Energy Select Sector | +0.4% | +3828.93% | Add |
| 3 | LLY | Eli Lilly & Co | +0.4% | +75.95% | Add |
| 4 | PH | Parker Hannifin CORP | +0.4% | +355.15% | Add |
| 5 | LMT | Lockheed Martin CORP | +0.4% | +148.95% | Add |
| 6 | SNDK | Sandisk CORP | +0.3% | -22.02% | Trim |
| 7 | FDX | Fedex CORP | +0.3% | +261.70% | Add |
| 8 | CVX | Chevron CORP | +0.3% | +70.48% | Add |
| 9 | JPM | Jpmorgan Chase & Co | +0.3% | +46.27% | Add |
| 10 | META | Meta Platforms Inc-class A | +0.3% | +53.09% | Add |
| 11 | NEM | Newmont CORP | +0.3% | +93.75% | Add |
| 12 | AIG | American International Group | +0.3% | +28998.77% | Add |
| 13 | APH | Amphenol Corp-cl A | +0.3% | +304.96% | Add |
| 14 | GE | General Electric | +0.3% | +125.88% | Add |
| 15 | WBD | Warner Bros Discovery INC | +0.3% | +113.04% | Add |
| 16 | TER | Teradyne INC | +0.3% | +291.74% | Add |
| 17 | NSC | Norfolk Southern CORP | +0.2% | +402.82% | Add |
| 18 | UBS | UBS Group AG | +0.2% | +136.31% | Add |
| 19 | DHR | Danaher CORP | +0.2% | +406.06% | Add |
| 20 | MS | Morgan Stanley | -0.2% | -45.95% | Trim |
| 21 | HON | Honeywell International INC | -0.2% | -51.27% | Trim |
| 22 | MPC | Marathon Petroleum CORP | -0.2% | -90.17% | Trim |
| 23 | LULU | Lululemon Athletica INC | -0.2% | -54.37% | Trim |
| 24 | UBER | Uber Technologies INC | -0.2% | -63.11% | Trim |
| 25 | TJX | Tjx Companies INC | -0.2% | -47.37% | Trim |
| 26 | RBLX | Roblox CORP -class A | -0.2% | -45.19% | Trim |
| 27 | ANET | Arista Networks INC | -0.3% | -77.35% | Trim |
| 28 | JNJ | Johnson & Johnson | -0.3% | -73.00% | Trim |
| 29 | INTC | Intel CORP | -0.3% | -71.37% | Trim |
| 30 | GILD | Gilead Sciences INC | -0.3% | -91.33% | Trim |
| 31 | ROP | Roper Technologies INC | -0.3% | -99.80% | Trim |
| 32 | ABBV | Abbvie INC | -0.3% | -76.77% | Trim |
| 33 | LIN | Linde plc | -0.3% | -73.62% | Trim |
| 34 | ETN | Eaton Corporation plc | -0.3% | -95.55% | Trim |
| 35 | BRK-B | Berkshire Hathaway Inc-cl B | -0.3% | -56.31% | Trim |
| 36 | UNH | Unitedhealth Group INC | -0.4% | -43.89% | Trim |
| 37 | PG | Procter & Gamble Co/the | -0.4% | -76.02% | Trim |
| 38 | ADBE | Adobe INC | -0.5% | -34.99% | Trim |
| 39 | AVGO | Broadcom INC | -0.5% | -32.02% | Trim |
| 40 | COST | Costco Wholesale CORP | -0.5% | -64.43% | Trim |
| 41 | AMZN | Amazon.com INC | -0.7% | -38.11% | Trim |
| 42 | AMD | Advanced Micro Devices | -0.8% | -69.85% | Trim |
| 43 | NVDA | Nvidia CORP | -1% | -40.78% | Trim |
| 44 | WMT | Walmart INC | -1.3% | -95.27% | Trim |
| 45 | EOG | Eog Resources INC | — | EXIT | Sold out |
| 46 | WMB | Williams Cos INC | — | NEW | New buy |
| 47 | VRT | Vertiv Holdings Co-a | — | EXIT | Sold out |
| 48 | ✓ | Cyberark Software LTD | — | EXIT | Sold out |
| 49 | FYBR | Frontier Communications Pare | — | EXIT | Sold out |
| 50 | EXK | Exact Sciences CORP | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-13 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-13 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-09 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-10 | Amendment | View on EDGAR |
| 2021-12-31 | 2022-02-01 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-14 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-12 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-13 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-02 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-15 | Amendment | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-14 | 13F-HR | View on EDGAR |
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