HolderBook

MACKENZIE FINANCIAL CORP

Reported holdings as of Q2 2026, from 31 quarterly filings.

CIK
919859
Reported value
$100.0B
Positions
1,534
Top 10 weight
27.8%
Filed
2026-08-13
Days after quarter end
44

Holdings

SecurityTickerValue SharesWeightWeight change Held Change
ROYAL BK CDARY$5.5B18,640,7125.48%+1.70pp31q-4.3%-$247.0M
TORONTO DOMINION BK ONTTD$3.9B22,892,5303.95%+1.25pp31q-5.1%-$210.7M
NVIDIA CORPORATIONNVDA$2.9B14,390,0302.88%-0.14pp31qHELD
STATE STR SPDR S&P 500 ETF T OPTSPY$2.6B3,472,6172.59%-0.08pp31q+1.2%+$29.8M
APPLE INCAAPL$2.6B8,875,7712.57%-0.36pp31q-7.9%-$218.8M
BANK MONTREAL MEDIUMBMO$2.1B8,547,6872.14%+0.75pp31qHELD
ALPHABET INCGOOGL$2.1B5,994,2062.14%-0.01pp31q-4.0%-$89.9M
CANADIAN PACIFIC KANSAS CITYCP$2.1B17,049,3192.10%+0.62pp13q+9.1%+$175.0M
MICROSOFT CORPMSFT$2.0B5,277,3581.97%-0.28pp31q+4.0%+$75.3M
AGNICO EAGLE MINES LTDAEM$2.0B8,920,9111.97%-0.19pp31q+0.9%+$17.1M
CANADIAN IMPERIAL BANK OF COCM$1.8B10,936,8651.79%+0.62pp31q+6.6%+$111.0M
MANULIFE FINL CORPMFC$1.7B29,507,8391.70%+0.46pp31q-1.3%-$22.2M
ENBRIDGE INCENB$1.6B21,151,3281.63%+0.30pp31q+3.5%+$55.5M
CANADIAN NAT RES LTD MED TERCNQ$1.5B27,195,9601.53%-0.08pp31q-0.9%-$13.2M
AMAZON COM INCAMZN$1.5B6,387,7671.52%+0.06pp31q+9.2%+$127.6M
CANADIAN NATL RY COCNI$1.5B8,939,3231.51%+0.43pp31q+1.9%+$27.6M
BROOKFIELD CORPBN$1.5B24,936,3471.50%+0.42pp15q+12.5%+$166.3M
TC ENERGY CORPTRP$1.1B12,194,8841.15%+0.19pp29q-4.5%-$54.5M
SUNCOR ENERGY INC NEWSU$1.1B14,106,9221.08%-0.05pp31qHELD
BANK NOVA SCOTIA B CBNS$1.1B8,653,5921.07%+0.35pp31qHELD
BROADCOM INCAVGO$1.0B2,767,5111.05%+0.09pp31q+8.0%+$77.1M
BARRICK MNG CORPB$1.0B19,831,1961.03%+0.07pp5qHELD
JOHNSON & JOHNSONJNJ$1.0B4,068,3331.03%-0.26pp31q-7.7%-$86.7M
META PLATFORMS INCMETA$875.1M1,553,6010.88%-0.10pp31q+9.0%+$72.1M
CENOVUS ENERGY INCCVE$747.8M21,250,4090.75%-0.06pp31q-16.6%-$148.8M
WHEATON PRECIOUS METALS CORPWPM$747.5M4,685,0740.75%+0.11pp31q+16.3%+$104.5M
JPMORGAN CHASE & COJPM$712.7M2,177,2850.71%+0.01pp31q+9.8%+$63.3M
ELI LILLY & COLLY$696.2M580,4600.70%+0.14pp31q+14.7%+$89.2M
SUN LIFE FINANCIAL INC.SLF$695.3M6,244,6640.70%+0.24pp31q+2.3%+$15.8M
LAM RESEARCH CORPLRCX$685.9M1,582,8100.69%+0.27pp7q-2.1%-$15.0M
MICRON TECHNOLOGY INCMU$655.1M567,5650.66%+0.46pp31q+18.1%+$100.6M
VISA INCV$645.8M1,882,2500.65%+0.10pp31q+25.0%+$129.3M
TECK RESOURCES LTDTECK$615.0M7,280,6080.62%+0.06pp31q-18.5%-$139.8M
ISHARES TRAGG$567.8M5,736,7000.57%-0.11pp22qHELD
APPLIED MATLS INCAMAT$515.6M713,1750.52%+0.25pp31q+11.1%+$51.5M
GILDAN ACTIVEWEAR INCGIL$493.5M6,748,7640.49%+0.05pp31q+2.5%+$12.1M
BROOKFIELD ASSET MANAGMT LTDBAM$492.9M7,748,2490.49%-0.03pp15q-20.7%-$128.3M
COCA COLA COKO$478.2M5,884,3120.48%-0.05pp31q+2.4%+$11.4M
CGI INCGIB$474.3M5,174,0150.47%flat30q-4.9%-$24.4M
FRANCO NEV CORPFNV$472.1M1,595,4020.47%-0.25pp31q-34.7%-$251.4M
PHILIP MORRIS INTL INCPM$468.8M2,591,0920.47%-0.04pp31qHELD
PEMBINA PIPELINE CORPPBA$468.1M7,134,1990.47%+0.02pp31q-13.9%-$75.3M
CISCO SYS INCCSCO$465.9M3,966,5440.47%flat31q-21.3%-$126.0M
TELUS CORPORATIONTU$445.8M29,719,6990.45%-0.07pp31q-11.7%-$58.8M
LINDE PLCLIN$437.4M842,8900.44%-0.15pp14q-14.3%-$73.0M
HUDBAY MINERALS INCHBM$436.4M13,031,0450.44%+0.17pp31q+20.9%+$75.6M
KINROSS GOLD CORPKGC$436.0M12,985,1190.44%-0.13pp31q-15.5%-$80.2M
UNITEDHEALTH GROUP INCUNH$431.7M1,038,6400.43%+0.27pp31q+112.2%+$228.2M
ABBVIE INCABBV$429.7M1,707,7860.43%-0.11pp31q-17.3%-$89.9M
MASTERCARD INCORPORATEDMA$395.3M769,6900.40%-0.17pp31q-18.1%-$87.5M
CELESTICA INCCLS$392.6M759,0810.39%+0.21pp9q+41.0%+$114.1M
CATERPILLAR INCCAT$387.5M363,9030.39%+0.02pp31q-14.8%-$67.1M
ADVANCED MICRO DEVICES INCAMD$387.0M666,1720.39%+0.28pp31q+50.4%+$129.7M
HOME DEPOT INCHD$386.0M1,094,3440.39%+0.02pp31q+18.8%+$61.1M
FORTIS INCFTS$367.1M4,518,2420.37%+0.06pp31q-0.5%-$2.0M
TEXAS INSTRS INCTXN$350.9M1,177,2080.35%+0.17pp31q+52.2%+$120.4M
TJX COS INC NEWTJX$350.8M2,315,7560.35%-0.19pp31q-18.5%-$79.7M
UNION PAC CORPUNP$334.3M1,228,9530.33%-0.06pp31q-8.7%-$31.9M
DUKE ENERGY CORP NEWDUK$318.4M2,515,5000.32%-0.11pp31q-6.8%-$23.1M
EXXON MOBIL CORPXOMXXXX$305.3M2,233,0160.31%-0.44pp31q-39.0%-$195.4M
MERCK & CO INC OPTMRK$305.0M2,373,4310.31%-0.06pp31q-5.7%-$18.5M
PROCTER & GAMBLE COPG$297.9M2,031,7240.30%-0.05pp31qHELD
TESLA INCTSLA$297.5M707,3610.30%+0.05pp31q+30.0%+$68.7M
CORNING INCGLW$295.7M1,157,7630.30%+0.19pp31q+80.3%+$131.7M
EMERA INCEMA$293.0M3,894,0590.29%+0.04pp5q-4.7%-$14.3M
WILLIAMS COS INCWMB$290.6M3,909,4150.29%-0.09pp31q-9.7%-$31.1M
ALPHABET INCGOOG$285.3M807,3770.29%+0.01pp31q-0.9%-$2.5M
PARKER-HANNIFIN CORPPH$285.0M291,3320.29%-0.08pp27q-13.7%-$45.4M
CAMECO CORPCCJ$283.3M1,959,6880.28%+0.11pp29q+50.9%+$95.5M
CAE INCCAE$281.1M7,916,8120.28%-0.09pp31q-33.7%-$143.0M
ISHARES TREFA$276.9M2,665,9670.28%-0.02pp31q+5.5%+$14.5M
WALMART INCWMT$273.4M2,413,6970.27%-0.23pp31q-28.7%-$110.3M
ALAMOS GOLD INCAGI$271.9M6,323,2290.27%-0.07pp31qHELD
GILEAD SCIENCES INCGILD$256.9M2,033,1300.26%+0.09pp31q+99.9%+$128.4M
ISHARES TR OPTHYG$253.8M3,173,7170.25%+0.04pp17q+41.1%+$74.0M
ISHARES TRTLT$251.8M2,913,3000.25%-0.08pp31q-8.9%-$24.6M
KLA CORPKLAC$242.4M803,3000.24%+0.09pp31q+842.7%+$216.7M
SEAGATE TECHNOLOGY HLDNGS PLSTX$240.7M249,4690.24%+0.16pp14q+38.8%+$67.3M
PHILLIPS 66PSX$238.4M1,410,1140.24%+0.10pp31q+118.7%+$129.4M
AMPHENOL CORPAPH$237.3M1,345,7090.24%+0.01pp31q-8.9%-$23.0M
BANK OF AMER CORPBAC$235.6M4,134,9390.24%flat31q+3.5%+$8.0M
TFI INTERNATIONAL INCTFII$234.7M1,149,7940.23%+0.16pp25q+102.5%+$118.8M
BERKSHIRE HATHAWAY INC DELBRKB$233.7M467,0620.23%-0.04pp31qHELD
BRP INCDOO$226.6M2,616,0630.23%+0.01pp31q+2.2%+$4.8M
ROGERS COMMUNICATIONS INCRCI$224.7M4,870,3860.22%+0.02pp31q+11.4%+$23.1M
PG&E CORPPCG$223.3M13,278,5140.22%+0.01pp25q+29.6%+$51.0M
BECTON DICKINSON & COBDX$216.9M1,433,4060.22%+0.21pp31q+3373.2%+$210.7M
INTEL CORPINTC$212.2M1,519,3830.21%+0.10pp31q-30.0%-$91.0M
GE AEROSPACEGE$209.7M561,1820.21%+0.06pp20q+30.3%+$48.7M
COSTCO WHOLESALE CORPORATIONCOST$209.0M223,3790.21%-0.08pp31q-8.7%-$19.8M
NEXTERA ENERGY INCNEE$203.0M2,312,7150.20%-0.08pp31q-10.5%-$23.8M
MCDONALDS CORPMCD$199.0M736,1070.20%-0.17pp31q-25.8%-$69.2M
DANAHER CORP DELDHR$198.9M1,044,1320.20%-0.08pp31q-14.0%-$32.4M
CITIGROUP INCC$196.7M1,405,4090.20%-0.01pp31q-9.3%-$20.1M
DESCARTES SYS GROUP INCDSGX$193.6M1,971,3600.19%-0.02pp31q-19.4%-$46.7M
S&P GLOBAL INCSPGI$188.9M463,9010.19%-0.17pp31q-33.2%-$94.0M
WEST FRASER TIMBER CO LTDWFG$180.4M1,878,6140.18%+0.04pp21q+5.1%+$8.7M
CVS HEALTH CORPCVS$177.8M1,718,5740.18%+0.04pp31q+8.1%+$13.4M
WESTERN DIGITAL CORPWDC$176.7M276,6500.18%+0.06pp27q-23.7%-$54.9M
CME GROUP INCCME$176.2M797,7950.18%-0.44pp31q-54.0%-$206.7M
MORGAN STANLEYMS$170.1M813,6510.17%flat31q-4.5%-$8.0M
CRH PLCCRH$169.8M1,586,8590.17%flat12q+16.2%+$23.7M
GOLDMAN SACHS GROUP INCGS$169.6M167,6480.17%-0.01pp31q-5.0%-$8.9M
SLB LIMITEDSLB$167.8M3,608,4140.17%+0.11pp31q+272.2%+$122.7M
THERMO FISHER SCIENTIFIC INCTMO$166.4M331,9920.17%+0.04pp31q+49.2%+$54.9M
RB GLOBAL INCRBA$166.1M1,005,7630.17%+0.01pp13q-28.1%-$64.9M
RESTAURANT BRANDS INTL INCQSR$161.9M1,573,5500.16%+0.01pp31q-5.8%-$9.9M
COLGATE PALMOLIVE COCL$161.7M1,763,8090.16%-0.20pp31q-50.1%-$162.4M
ISHARES TRIVV$157.8M210,7080.16%flat31q+5.8%+$8.7M
PALO ALTO NETWORKS INCPANW$154.9M454,1720.15%+0.11pp31q+84.0%+$70.7M
OVINTIV INCOVV$154.7M3,177,6650.15%-0.09pp21q-5.9%-$9.7M
GFL ENVIRONMENTAL INCGFL$152.7M2,927,1350.15%+0.08pp25q+107.2%+$79.0M
FIRSTSERVICE CORP NEWFSV$152.5M756,1990.15%-0.09pp29q-48.6%-$144.2M
STRYKER CORPORATIONSYK$150.5M478,0290.15%-0.15pp31q-36.3%-$85.6M
BROOKFIELD INFRASTRUCTURE PABIP$149.9M2,894,5390.15%+0.02pp13q-5.9%-$9.4M
PEPSICO INCPEP$148.2M1,094,6030.15%-0.04pp31q+10.7%+$14.4M
MOTOROLA SOLUTIONS INCMSI$142.3M342,7030.14%-0.24pp31q-53.1%-$161.4M
MAGNA INTL INCMGA$141.8M1,525,4730.14%+0.04pp31q+1.7%+$2.3M
PAN AMERN SILVER CORPPAAS$141.5M2,225,2970.14%-0.01pp31q-1.0%-$1.4M
ABBOTT LABORATORIESABT$140.8M1,551,4890.14%-0.04pp31q+5.3%+$7.1M
AGCO CORPAGCO$138.3M1,155,5610.14%+0.01pp19q+28.6%+$30.7M
IAMGOLD CORPIAG$137.8M6,120,7800.14%+0.03pp31q+26.3%+$28.7M
RTX CORPORATIONRTX$137.8M726,1440.14%-0.03pp25q-2.5%-$3.5M
PACCAR INCPCAR$136.8M1,139,0370.14%+0.08pp30q+203.3%+$91.7M
MDA SPACE LTDMDA$133.3M2,274,2400.13%+0.05pp2q-15.3%-$24.1M
ENERFLEX LTDEFXT$133.0M3,817,3890.13%flat15q-27.8%-$51.2M
DUPONT DE NEMOURS INC$131.5M969,3200.13%-newNEW
SANDISK CORPSNDK$130.4M57,3590.13%+0.09pp6q+21.9%+$23.4M
FREEPORT-MCMORAN INC OPTFCX$129.3M2,056,3300.13%+0.09pp31q+287.3%+$95.9M
BCE INCBCE$128.7M4,211,3860.13%+0.01pp31q+8.4%+$10.0M
ANALOG DEVICES INCADI$127.8M321,8630.13%-0.03pp30q-24.1%-$40.7M
EATON CORP PLCETN$126.7M297,3430.13%-0.07pp14q-34.9%-$68.0M
SOUTH BOW CORPSOBO$126.7M2,535,5730.13%+0.11pp7q+410.9%+$101.9M
ASML HLDG NVASML$126.6M63,6280.13%+0.09pp14q+146.0%+$75.1M
AT&T INCT$126.1M6,090,2200.13%-0.07pp31q+9.2%+$10.6M
THOMSON REUTERS CORPTRI$125.6M1,087,9040.13%-newNEW
METHANEX CORPMEOH$125.4M1,914,5050.13%+0.01pp31q+15.8%+$17.1M
TOTALENERGIES SETTE$124.6M3,350,2170.12%-0.37pp3q-25.0%-$41.6M
TRANE TECHNOLOGIES PLCTT$122.7M249,7980.12%-0.04pp14q-25.4%-$41.8M
WELLS FARGO & CO OPTWFC$122.6M1,483,3990.12%-0.09pp31q-32.8%-$59.7M
MARSH & MCLENNAN COS INCMRSH$121.6M729,7810.12%-0.03pp31q+2.2%+$2.7M
ELDORADO GOLD CORP NEWEGO$121.4M2,750,2250.12%+0.02pp31q+12.9%+$13.9M
ZIONS BANCORPORATION NATL ASZION$120.4M1,739,6330.12%+0.03pp6q+40.5%+$34.7M
ROPER TECHNOLOGIES INCROP$120.3M355,5180.12%-0.03pp31q-1.0%-$1.2M
COMCAST CORP NEWCMCSA$119.9M4,885,8280.12%+0.02pp31q+70.9%+$49.8M
BRISTOL-MYERS SQUIBB COBMY$118.9M2,064,2840.12%+0.01pp31q+40.9%+$34.5M
CARRIER GLOBAL CORPORATION OPTCARR$118.9M1,620,0990.12%+0.07pp25q+114.5%+$63.5M
SHELL PLCSHEL$117.1M1,510,2680.12%-0.02pp17q+19.2%+$18.9M
ARISTA NETWORKS INCANET$117.1M689,1280.12%flat7q-12.2%-$16.2M
VERIZON COMMUNICATIONS INCVZ$115.1M2,718,3650.12%-0.06pp31q-8.5%-$10.7M
BOEING COBA$115.1M531,5960.12%+0.04pp31q+62.1%+$44.1M
OCEANAGOLD CORPOGC$114.0M3,205,5620.11%-newNEW
EXPEDIA GROUP INCEXPE$113.7M444,4980.11%+0.05pp31q+102.7%+$57.6M
HEWLETT PACKARD ENTERPRISE C OPTHPE$113.0M2,502,8170.11%+0.04pp31q-1.2%-$1.3M
OPEN TEXT CORPOTEX$111.7M3,556,8840.11%+0.04pp31q+31.8%+$27.0M
FEDEX CORPFDX$110.5M352,8540.11%+0.04pp31q+111.1%+$58.2M
EVERSOURCE ENERGYES$110.4M1,527,8550.11%+0.02pp31q+35.7%+$29.1M
AUTOMATIC DATA PROCESSING INADP$108.8M485,7180.11%-0.02pp31q-6.9%-$8.1M
RENAISSANCERE HLDGS LTDRNR$106.4M335,7640.11%+0.02pp14q+38.8%+$29.7M
SCHWAB CHARLES CORPSCHW$106.2M1,150,5220.11%+0.01pp31q+35.3%+$27.7M
WW GRAINGER INCGWW$106.1M77,9910.11%+0.01pp31q+2.8%+$2.9M
INTERNATIONAL BUSINESS MACHSIBM$102.8M365,4580.10%-0.15pp31q-57.2%-$137.4M
GARRETT MOTION INCGTX$102.4M2,826,7720.10%+0.10pp5q+1012.1%+$93.2M
SYNOPSYS INCSNPS$102.3M229,3540.10%+0.08pp27q+313.8%+$77.6M
COLUMBIA BKG SYS INCCOLB$101.8M3,176,8570.10%+0.06pp2q+179.9%+$65.4M
CUMMINS INCCMI$100.9M141,4170.10%+0.02pp31q+7.8%+$7.3M
MICROCHIP TECHNOLOGY INC. OPTMCHP$100.0M1,096,1740.10%-0.03pp31q-35.6%-$55.2M
TE CONNECTIVITY PLCTEL$98.5M488,8150.10%-0.03pp8q-5.8%-$6.1M
NASDAQ INCNDAQ$98.5M1,250,1910.10%+0.03pp29q+92.5%+$47.4M
NETFLIX INC OPTNFLX$98.2M1,375,2460.10%-0.10pp31q-21.0%-$26.2M
PALANTIR TECHNOLOGIES INCPLTR$98.0M840,2360.10%+0.01pp21q+71.7%+$41.0M
TKO GROUP HOLDINGS INCTKO$96.9M481,5310.10%-0.02pp6q+1.6%+$1.5M
TRANSALTA CORPTAC$96.0M4,894,8530.10%+0.02pp31q+4.5%+$4.1M
STARBUCKS CORPSBUX$96.0M939,0250.10%-0.01pp31q-1.0%-$993.1K
SM ENERGY COMPANYSM$95.9M3,674,1340.10%flat2q+37.3%+$26.0M
PFIZER INCPFE$94.8M3,938,8650.09%-0.02pp31q+20.3%+$16.0M
MEDTRONIC PLCMDT$94.7M1,210,9290.09%-0.14pp14q-47.3%-$85.2M
STANTEC INCSTN$93.7M957,7220.09%-0.23pp31q-69.2%-$210.1M
HCA HEALTHCARE INCHCA$93.6M240,0610.09%+0.06pp31q+362.2%+$73.3M
TERADYNE INCTER$91.0M188,0360.09%+0.04pp31q+34.5%+$23.3M
ELEVANCE HEALTH INC FORMERLYELV$90.6M234,2400.09%+0.07pp31q+221.1%+$62.4M
GE VERNOVA INCGEV$90.5M77,0110.09%+0.06pp9q+131.4%+$51.4M
VERTIV HOLDINGS COVRT$90.2M269,5080.09%+0.04pp12q+47.6%+$29.1M
CHUBB LIMITEDCB$89.3M262,0360.09%+0.01pp14q+29.4%+$20.3M
AMERICAN ELEC PWR CO INCAEP$88.8M648,9490.09%+0.02pp31q+47.2%+$28.5M
OREILLY AUTOMOTIVE INCORLY$88.3M958,8600.09%-0.05pp31q-25.2%-$29.7M
ORACLE CORPORCL$88.2M601,8930.09%+0.02pp31q+49.0%+$29.0M
VENTAS INCVTR$87.2M982,3760.09%+0.01pp31q+30.3%+$20.3M
BOYD GROUP SERVICES INCBGSI$86.6M644,8820.09%-0.15pp3q-58.4%-$121.5M
SERVICENOW INCNOW$85.8M863,8920.09%flat31q+26.2%+$17.8M
BOOKING HOLDINGS INCBKNG$85.6M480,3680.09%-0.02pp31q+2210.9%+$81.9M
REGENERON PHARMACEUTICALSREGN$84.7M135,7830.08%flat31q+57.3%+$30.8M
OR ROYALTIES INC.OR$81.7M1,818,7370.08%-0.01pp5q-11.9%-$11.0M
TEXTRON INCTXT$81.5M888,5610.08%+0.02pp20q+47.5%+$26.2M
ASTRAZENECA PLCAZN$80.5M1,328,4710.08%-0.26pp2q-8.0%-$7.0M
EDISON INTLEIX$79.1M1,062,3110.08%+0.02pp31q+67.5%+$31.9M
LOCKHEED MARTIN CORPLMT$79.0M155,0280.08%-0.06pp31q-16.5%-$15.6M
ROYAL CARIBBEAN GROUPRCL$78.2M246,2330.08%+0.05pp14q+176.5%+$49.9M
UNITED RENTALS INCURI$77.6M68,4800.08%+0.05pp31q+161.1%+$47.9M
INVESCO QQQ TR OPTQQQ$76.5M103,8200.08%flat31q-1.2%-$957.9K
BLACKROCK INCBLK$76.0M78,9970.08%-0.02pp7q-4.0%-$3.2M
ALCOA CORPAA$75.4M1,445,3720.08%-0.04pp9q-3.8%-$3.0M
PROGRESSIVE CORPPGR$74.8M342,5280.07%-0.02pp31q-15.0%-$13.2M
VERMILION ENERGY INCVET$74.2M5,592,4480.07%flat21q+28.0%+$16.2M
CANADIAN SOLAR INCCSIQ$74.0M4,621,0620.07%flat22qHELD
MARRIOTT INTL INC NEWMAR$73.9M199,4160.07%+0.01pp30q+14.6%+$9.4M
TRAVELERS COMPANIES INCTRV$73.3M221,9100.07%-0.02pp31q-14.0%-$11.9M
HOWMET AEROSPACE INCHWM$73.2M272,0870.07%+0.02pp22q+33.0%+$18.1M
IMPERIAL OIL LTDIMO$73.0M458,2900.07%-0.06pp22q-43.9%-$57.2M
INTERACTIVE BROKERS GROUP IN OPTIBKR$72.2M829,2880.07%+0.07pp7q+1568.9%+$67.9M
INCYTE CORPINCY$72.0M634,8620.07%+0.01pp27q+15.5%+$9.7M
SALESFORCE INCCRM$71.4M455,7060.07%-0.01pp31q+29.8%+$16.4M
MOODYS CORPMCO$71.3M157,4410.07%+0.04pp31q+149.6%+$42.7M
QUEST DIAGNOSTICS INCDGX$70.6M333,2950.07%+0.04pp31q+163.5%+$43.8M
AKAMAI TECHNOLOGIES INCAKAM$68.8M582,1490.07%-0.13pp31q-59.8%-$102.3M
TAIWAN SEMICONDUCTOR MANUFACTSM$68.4M143,2060.07%+0.02pp31q+13.2%+$7.9M
VICI PPTYS INCVICI$67.1M2,529,1270.07%-0.01pp29q+7.5%+$4.7M
QUALCOMM INCQCOM$67.0M362,5330.07%flat31q-12.5%-$9.6M
MARVELL TECHNOLOGY INCMRVL$66.9M224,4260.07%+0.04pp21q+3.4%+$2.2M
DELL TECHNOLOGIES INCDELL$66.4M153,8500.07%flat30q-52.4%-$73.2M
GOLD FIELDS LTDGFI$65.1M1,939,0340.07%-0.04pp31q+5.2%+$3.2M
PROLOGIS INC.PLD$65.0M480,1530.07%-0.01pp31q-2.5%-$1.7M
COMPANHIA DE SANEAMENTO BASISBS$63.8M11,033,5550.06%-0.02pp23q+409.1%+$51.2M
CADENCE DESIGN SYSTEM INCCDNS$63.1M168,1190.06%+0.02pp27q+26.5%+$13.2M
CHEVRON CORPORATIONCVX$62.4M376,6300.06%-0.16pp31q-57.2%-$83.5M
SUNBELT RENTALS HOLDINGS INCSUNB$62.3M1,200,4360.06%-0.06pp2q-28.4%-$24.7M
SENSATA TECHNOLOGIES HLDG PLST$62.1M1,300,6970.06%flat14q-14.5%-$10.6M
CNH INDL N VCNH$61.9M5,515,5840.06%+0.02pp6q+78.4%+$27.2M
ISHARES TRIJR$60.7M409,5900.06%+0.01pp12q+12.1%+$6.6M
DEVON ENERGY CORP NEW OPTDVN$59.9M1,448,9480.06%-0.05pp22q-19.1%-$14.1M
GERDAU SAGGB$59.1M14,638,3210.06%+0.03pp15q+88.2%+$27.7M
INTUITIVE SURGICAL INCISRG$58.9M148,1610.06%-0.02pp31q+4.5%+$2.6M
MONDELEZ INTL INCMDLZ$58.2M1,006,9570.06%-0.05pp31q-34.9%-$31.2M
EQUINOX GOLD CORPEQX$57.5M4,160,4910.06%-0.02pp26q-2.7%-$1.6M
FASTENAL COFAST$57.2M1,191,2520.06%-0.02pp27q-17.5%-$12.2M
KNIGHT-SWIFT TRANSN HLDGS INKNX$56.7M728,7310.06%+0.06pp2q+8901.1%+$56.1M
UNIVERSAL HLTH SVCS INCUHS$56.6M380,9050.06%+0.03pp31q+240.7%+$40.0M
CAPITAL ONE FINL CORPCOF$56.4M281,1570.06%-0.05pp31q-40.9%-$39.0M
AMGEN INCAMGN$56.1M165,0300.06%flat31q+20.5%+$9.5M
SYNCHRONY FINANCIALSYF$56.0M735,8430.06%flat31q+1.9%+$1.1M
HF SINCLAIR CORPDINO$55.8M801,4300.06%flat4q+5.4%+$2.9M
CROWDSTRIKE HLDGS INCCRWD$54.6M71,5730.05%+0.01pp24q-21.2%-$14.7M
MARATHON PETE CORPMPC$54.0M211,0240.05%+0.02pp31q+80.4%+$24.0M
ITRON INCITRI$53.6M619,5400.05%+0.02pp13q+85.4%+$24.7M
CONSOLIDATED EDISON INCED$53.5M483,3230.05%flat31q+24.8%+$10.6M
AMERICAN INTL GROUP INCAIG$53.4M717,1340.05%+0.01pp31q+39.1%+$15.0M
BIOMARIN PHARMACEUTICAL INCBMRN$53.3M931,8640.05%+0.02pp26q+111.1%+$28.1M
LOWES COS INCLOW$53.0M240,4920.05%-0.01pp31q+6.2%+$3.1M
UGI CORP NEWUGI$52.7M1,526,7130.05%+0.01pp14q+40.6%+$15.2M
POPULAR INCBPOP$52.1M317,4490.05%-0.01pp6q-16.5%-$10.3M
T-MOBILE US INCTMUS$52.1M310,3600.05%flat27q+44.3%+$16.0M
ADOBE INCADBE$51.6M251,9060.05%-0.01pp31q+24.8%+$10.3M
HENRY JACK & ASSOC INCJKHY$51.6M374,7040.05%-0.13pp31q-61.5%-$82.4M
INTERDIGITAL INCIDCC$51.6M182,2200.05%-newNEW
ASE TECHNOLOGY HLDG CO LTDASX$51.5M1,141,8400.05%+0.03pp6q+38.8%+$14.4M
APPLOVIN CORPAPP$51.5M99,9250.05%+0.01pp11q+11.7%+$5.4M
MSCI INCMSCI$51.4M91,7440.05%+0.01pp27q+36.1%+$13.6M
HOST HOTELS & RESORTS INCHST$51.3M2,161,6780.05%+0.05pp31q+1845.3%+$48.6M
VERALTO CORPVLTO$51.2M577,1800.05%+0.03pp12q+213.5%+$34.9M
VERTEX PHARMACEUTICALS INCVRTX$51.1M102,9280.05%flat31q+6.4%+$3.1M
BENTLEY SYS INCBSY$50.8M1,698,7280.05%+0.03pp5q+305.5%+$38.3M
REPUBLIC SVCS INCRSG$50.8M238,2210.05%-0.01pp31q+7.9%+$3.7M
ANGLOGOLD ASHANTI PLCAU$50.5M2,035,3730.05%-0.20pp12q-6.3%-$3.4M
ALLSTATE CORPALL$50.5M212,0750.05%-0.02pp31q-26.3%-$18.0M
AMETEK INCAME$50.3M207,9370.05%+0.04pp27q+673.7%+$43.8M
NORTHROP GRUMMAN CORPNOC$49.8M97,7920.05%-0.04pp31q-7.3%-$3.9M
WELLTOWER INCWELL$49.8M219,2490.05%-0.01pp31q-14.5%-$8.4M
AUTODESK INCADSK$49.5M254,8030.05%-0.01pp27q+14.0%+$6.1M
APTIV PLCAPTV$48.4M788,0080.05%+0.03pp7q+260.9%+$35.0M
YUM CHINA HLDGS INCYUMC$48.3M1,182,7050.05%flat31q+39.9%+$13.8M
PERMIAN RESOURCES CORPPR$48.3M2,622,6730.05%+0.03pp2q+229.5%+$33.6M
PBF ENERGY INCPBF$47.9M1,052,5450.05%+0.04pp2q+1242.5%+$44.3M
TRANSOCEAN LTDRIG$47.6M9,742,2060.05%-newNEW
MONSTER BEVERAGE CORP NEWMNST$47.3M492,2110.05%+0.01pp31q+16.6%+$6.7M
KINDER MORGAN INC DELKMI$47.3M1,479,0810.05%+0.02pp31q+91.8%+$22.6M
AUTOZONE INCAZO$46.8M14,6570.05%flat31q+30.3%+$10.9M
D R HORTON INCDHI$46.7M286,4850.05%+0.01pp29q+14.7%+$6.0M
GENERAL MTRS COGM$46.6M604,4610.05%+0.01pp31q+35.0%+$12.1M
WASTE MGMT INC DELWM$46.6M209,0240.05%flat31q+22.9%+$8.7M
VALERO ENERGY CORPVLO$46.6M178,7880.05%flat31q+23.8%+$8.9M
PRIMORIS SVCS CORPPRIM$45.8M461,8470.05%-0.01pp9q+50.3%+$15.3M
ROBINHOOD MKTS INCHOOD$45.2M450,2940.05%+0.04pp5q+421.8%+$36.5M
ELASTIC N VESTC$44.5M781,0270.04%+0.03pp8q+253.4%+$31.9M
SOUTHERN COPPER CORPSCCO$44.4M254,7860.04%-0.01pp10q+3.0%+$1.3M
DISNEY WALT CODIS$44.2M458,8120.04%-0.03pp31q-32.0%-$20.8M
FORD MTR COF$44.1M3,169,1310.04%-0.05pp31q-54.4%-$52.5M
HERSHEY COHSY$44.0M250,8200.04%+0.02pp31q+123.7%+$24.3M
JOHNSON CONTROLS INTERNATION OPTJCI$43.2M295,6100.04%-0.01pp14q-3.9%-$1.8M
MYR GROUP INCMYRG$43.1M86,0450.04%+0.04pp17q+393.7%+$34.3M
ZTO EXPRESS CAYMAN INCZTO$42.9M1,914,9970.04%flat5q+48.4%+$14.0M
DROPBOX INCDBX$42.7M1,553,8390.04%+0.03pp25q+206.4%+$28.8M
EVEREST GROUP LTDEG$42.7M119,4700.04%+0.03pp14q+221.7%+$29.4M
STMICROELECTRONICS N VSTM$42.4M566,7520.04%+0.02pp8q-10.7%-$5.1M
CELANESE CORP DELCE$42.4M921,6950.04%+0.01pp24q+144.0%+$25.0M
DOLLAR GEN CORPDG$42.2M366,6990.04%-0.02pp31q-21.5%-$11.6M
MCKESSON CORPMCK$42.1M55,6970.04%-0.27pp31q-81.6%-$186.2M
HUNT J B TRANS SVCS INCJBHT$42.1M145,3640.04%flat31q-5.6%-$2.5M
NIKE INC OPTNKE$41.8M1,018,3410.04%-0.04pp31q-24.8%-$13.8M
HILTON WORLDWIDE HLDGS INCHLT$41.5M125,6140.04%-0.01pp31q-17.0%-$8.5M
H WORLD GROUP LTDHTHT$41.4M991,2550.04%flat5q+50.5%+$13.9M
VULCAN MATLS COVMC$41.3M139,9630.04%+0.02pp31q+152.1%+$24.9M
SOUTHERN COSO$41.2M430,9350.04%flat31q+8.0%+$3.1M
COMFORT SYS USA INCFIX$41.0M20,6650.04%+0.01pp7q+13.4%+$4.8M
VALLEY NATL BANCORPVLY$40.3M2,751,2190.04%+0.03pp21q+253.3%+$28.9M
JABIL INCJBL$40.1M103,9700.04%+0.04pp15q+751.6%+$35.4M
CENCORA INCCOR$40.1M141,5550.04%-0.02pp31q-5.7%-$2.4M
NEWMONT CORPNEM$39.9M427,0200.04%-0.05pp31q-40.9%-$27.6M
CHARTER COMMUNICATIONS INCCHTR$39.6M278,2140.04%+0.04pp31q+2446.1%+$38.0M
JD.COM INCJD$39.3M1,541,1220.04%+0.03pp7q+541.1%+$33.1M
AERCAP HOLDINGS NVAER$39.2M268,9130.04%flat14q+11.8%+$4.1M
NOV INCNOV$39.2M2,113,3150.04%flat5q+15.1%+$5.1M
LATAM AIRLINES GROUP SALTM$39.0M669,8180.04%+0.01pp3q+31.3%+$9.3M
B2GOLD CORPBTG$38.2M7,187,9540.04%flat31qHELD
FORTINET INCFTNT$37.7M245,3640.04%+0.01pp31q-16.2%-$7.3M
KEYSIGHT TECHNOLOGIES INCKEYS$37.4M106,9070.04%-0.11pp27q-76.1%-$119.2M
L3HARRIS TECHNOLOGIES INCLHX$37.3M128,4870.04%-0.04pp28q-33.0%-$18.4M
EQUINIX INCEQIX$37.1M35,5750.04%-0.03pp31q-39.0%-$23.7M
FIRSTENERGY CORPFE$36.9M776,0010.04%flat27q+26.6%+$7.8M
LIBERTY ENERGY INCLBRT$36.7M1,402,3110.04%+0.02pp2q+184.8%+$23.8M
KEURIG DR PEPPER INCKDP$36.4M1,113,4690.04%+0.01pp31q+13.5%+$4.3M
KIRBY CORPKEX$35.6M261,6500.04%+0.03pp12q+541.3%+$30.0M
UBS GROUP AGUBS$35.4M884,6720.04%flat14q+23.7%+$6.8M
INTUITINTU$35.3M135,3870.04%-0.07pp31q-34.0%-$18.2M
ROSS STORES INCROST$34.6M162,6700.03%+0.01pp31q+63.3%+$13.4M
SSR MINING INSSRM$34.6M863,4390.03%+0.03pp31q+217.8%+$23.7M
ACM RESH INCACMR$34.0M268,0040.03%+0.03pp5q+278.1%+$25.0M
KANZHUN LIMITEDBZ$34.0M2,639,3400.03%flat6q+40.3%+$9.8M
FIRST MAJESTIC SILVER CORPAG$33.6M1,395,5180.03%-0.02pp25q-32.3%-$16.1M
ALTRIA GROUP INCMO$33.5M465,5020.03%+0.01pp31q+80.8%+$15.0M
CONOCOPHILLIPSCOP$33.4M321,3790.03%flat31q+68.3%+$13.6M
LYFT INCLYFT$33.3M2,279,3730.03%+0.03pp7q+2759.2%+$32.1M
PORTLAND GEN ELEC COPOR$32.9M635,6460.03%+0.02pp21q+309.6%+$24.9M
CARDINAL HEALTH INCCAH$32.6M137,1950.03%+0.02pp31q+131.1%+$18.5M
EQUIFAX INCEFX$32.5M205,0110.03%-0.02pp31q-6.9%-$2.4M
ESSEX PPTY TR INCESS$32.2M110,5050.03%+0.03pp31q+435.9%+$26.2M
RAMBUS INC DELRMBS$32.1M242,1940.03%+0.03pp16q+351.1%+$25.0M
PPG INDS INCPPG$32.0M263,4330.03%+0.01pp31q+47.5%+$10.3M
ICICI BANK LIMITEDIBN$31.9M1,099,5900.03%flat17q-4.2%-$1.4M
RINGCENTRAL INCRNG$31.6M811,3120.03%+0.02pp31q+319.3%+$24.1M
SYSCO CORPSYY$31.4M375,7740.03%-0.01pp31q-12.9%-$4.6M
KROGER COKR$31.3M564,3360.03%-0.01pp31q+23.6%+$6.0M
NIO INCNIO$31.1M6,153,0210.03%+0.01pp6q+122.5%+$17.1M
ISHARES INCEWJ$31.1M333,6370.03%flat31qHELD
CIRRUS LOGIC INCCRUS$31.1M209,3060.03%-0.12pp20q-76.0%-$98.2M
MATERION CORPMTRN$30.9M103,9960.03%+0.03pp2q+1616.1%+$29.1M
PINTEREST INCPINS$30.8M1,465,3800.03%+0.02pp24q+316.3%+$23.4M
EMERSON ELEC COEMR$30.7M214,8030.03%-0.04pp31q-54.8%-$37.3M
CENTENE CORP DELCNC$30.7M478,6740.03%+0.02pp31q+105.6%+$15.8M
CBOE GLOBAL MKTS INCCBOE$30.7M126,5210.03%-0.21pp31q-82.1%-$141.2M
MOLSON COORS BEVERAGE COTAP$30.6M784,5140.03%+0.02pp31q+511.1%+$25.6M
EVERUS CONSTR GROUPECG$30.2M182,2710.03%+0.03pp4q+464.0%+$24.9M
SKYWORKS SOLUTIONS INCSWKS$29.9M441,7340.03%+0.01pp31q+28.8%+$6.7M
NXP SEMICONDUCTORS N VNXPI$29.8M106,0550.03%flat14q-5.3%-$1.7M
NEUROCRINE BIOSCIENCES INCNBIX$29.6M175,6850.03%+0.02pp31q+91.6%+$14.2M
FEDERAL RLTY INVT TR NEWFRT$29.6M239,4360.03%+0.03pp18q+7415.3%+$29.2M
VERISIGN INCVRSN$29.5M117,4360.03%flat31q+15.8%+$4.0M
CITIZENS FINL GROUP INCCFG$29.5M420,7040.03%+0.02pp31q+223.1%+$20.4M
UBER TECHNOLOGIES INC OPTUBER$29.2M405,0500.03%flat26q+33.4%+$7.3M
ILLINOIS TOOL WKS INCITW$29.2M107,8210.03%flat29q+21.8%+$5.2M
BORGWARNER INCBWA$29.2M439,1590.03%+0.02pp2q+273.2%+$21.3M
EOG RES INCEOG$29.1M224,0350.03%flat31q+42.9%+$8.7M
MOBILEYE GLOBAL INCMBLY$28.9M2,985,3560.03%+0.03pp3q+22919.2%+$28.8M
BANK OF NY MELLON CORPBNY$28.8M199,5020.03%+0.01pp31q+58.5%+$10.6M
INGREDION INCINGR$28.5M300,6700.03%+0.02pp11q+753.4%+$25.1M
PRECISION DRILLING CORPPDS$28.2M259,2430.03%+0.02pp18q+131.3%+$16.0M
NVR INCNVR$28.2M4,1340.03%flat31q+15.9%+$3.9M
APA CORPORATIONAPA$28.1M862,8950.03%-newNEW
UNITED PARCEL SVCS INCUPS$28.0M260,1750.03%flat31qHELD
VIRTU FINL INCVIRT$27.9M469,0110.03%+0.01pp2q+8.2%+$2.1M
CLEAR SECURE INCYOU$27.8M498,2450.03%+0.02pp4q+564.9%+$23.6M
ADVANCED DRAIN SYS INC DELWMS$27.6M175,8790.03%-0.01pp6q-15.2%-$5.0M
SNOWFLAKE INCSNOW$27.5M108,2250.03%+0.02pp21q+87.8%+$12.9M
VIASAT INCVSAT$27.2M303,3000.03%+0.02pp5q+349.5%+$21.2M
ROYAL GOLD INCRGLD$27.2M136,3740.03%-0.02pp4q-1.5%-$423.2K
RALPH LAUREN CORPRL$27.2M67,7680.03%+0.01pp11q+55.4%+$9.7M
EXELON CORPEXC$27.2M582,7440.03%-0.02pp31q-21.1%-$7.3M
MONGODB INCMDB$27.1M80,5830.03%+0.02pp23q+164.5%+$16.8M
PRIMERICA INCPRI$27.0M95,1460.03%+0.01pp2q+87.2%+$12.6M
OSHKOSH CORPOSK$27.0M176,0960.03%+0.03pp7q+3700.9%+$26.3M
HUMANA INCHUM$26.7M67,2090.03%+0.02pp31q+45.8%+$8.4M
EBAY INC.EBAY$26.7M238,5620.03%+0.01pp31q+49.1%+$8.8M
ESSENT GROUP LTDESNT$26.6M413,0990.03%+0.02pp14q+373.2%+$20.9M
AMERICAN EXPRESS COAXP$26.4M77,9620.03%flat31q+6.0%+$1.5M
CORE & MAIN INCCNM$26.3M544,7150.03%-0.04pp11q-51.4%-$27.8M
CLOUDFLARE INCNET$26.1M106,4640.03%-0.02pp14q-45.2%-$21.5M
MONOLITHIC PWR SYS INCMPWR$25.7M18,6060.03%+0.02pp23q+140.5%+$15.0M
AON PLCAON$25.6M77,3270.03%-0.04pp14q-53.6%-$29.6M
VENTURE GLOBAL INCVG$25.4M2,286,0410.03%+0.02pp5q+5217.6%+$25.0M
MGM RESORTS INTERNATIONALMGM$25.3M528,7650.03%+0.02pp22q+2348.4%+$24.2M
CORTEVA INCCTVA$25.2M297,7850.03%flat28q+47.3%+$8.1M
ACCENTURE PLC IRELANDACN$25.2M202,6330.03%-0.16pp14q-74.1%-$72.0M
PAYPAL HLDGS INCPYPL$25.2M582,6220.03%+0.01pp31q+133.8%+$14.4M
DEUTSCHE BK AGDB$25.1M846,2210.03%flat14q+20.7%+$4.3M
GARMIN LTDGRMN$24.9M105,0150.02%+0.01pp14q+57.2%+$9.1M
ALEXANDRIA REAL ESTATE EQ INARE$24.9M470,2830.02%+0.02pp31q+1474.5%+$23.3M
PRICE T ROWE GROUP INCTROW$24.8M218,0770.02%+0.01pp29q+25.8%+$5.1M
STIFEL FINL CORPSF$24.8M355,0670.02%+0.02pp3q+1710.7%+$23.4M
SKEENA RES LTD NEWSKE$24.7M653,5760.02%+0.01pp9q+34.3%+$6.3M
HDFC BANK LTDHDB$24.2M936,6240.02%flat31qHELD
WESCO INTL INCWCC$24.0M69,4250.02%flat14qHELD

Showing the largest 400 of 1,534 positions.

By sector

Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.

Banks & Lending 16.6%Semiconductors & Electronics 8.7%Mining & Metals 8.2%Software & IT Services 7.4%Energy 7.2%Transport & Logistics 7.0%Retail & Consumer 4.4%Computer Hardware 4.3%Insurance 4.2%Biotech & Pharma 3.9%Business Services 3.1%Funds & ETFs 2.7%Other sectors 19.7%Not classified 2.5%
 
SectorValueShare
Banks & Lending$16.6B16.6%
Semiconductors & Electronics$8.7B8.7%
Mining & Metals$8.2B8.2%
Software & IT Services$7.4B7.4%
Energy$7.2B7.2%
Transport & Logistics$7.0B7.0%
Retail & Consumer$4.4B4.4%
Computer Hardware$4.3B4.3%
Insurance$4.2B4.2%
Biotech & Pharma$3.9B3.9%
Business Services$3.1B3.1%
Funds & ETFs$2.7B2.7%
Other sectors$19.7B19.7%
Not classified$2.5B2.5%

Quarter by quarter

QuarterValuePositions NewAddedTrimmed ExitedTop 10 Days to file
Q2 2026$100.0B1,53428276143516827.8%44
Q1 2026$83.3B1,42013876548336824.8%43
Q4 2025$84.4B1,65013478460716626.7%49
Q3 2025$82.6B1,68216572662016925.5%44
Q2 2025$77.2B1,68615073752612323.5%44
Q1 2025$70.3B1,659140731,44517821.7%37
Q4 2024$220.0B1,6972551,4123013223.3%45
Q3 2024$71.9B1,57418362160414222.0%44
Q2 2024$67.3B1,53315155060613722.6%45
Q1 2024$69.4B1,51914764552812021.8%40
Q4 2023$66.3B1,49216149359813522.7%30
Q3 2023$59.5B1,46613057254816621.6%25
Q2 2023$65.9B1,50217355060018222.0%34
Q1 2023$64.7B1,51123056650914121.7%24
Q4 2022$59.9B1,42220658152020922.6%45
Q3 2022$58.1B1,4259549171612622.7%7
Q2 2022$62.4B1,45618473947413422.3%41
Q1 2022$74.6B1,40611975145714022.5%43
Q4 2021$74.2B1,42711850869312122.2%45
Q3 2021$70.5B1,4302737653397521.7%39
Q2 2021$71.9B1,2321866203627021.9%42
Q1 2021$65.6B1,11620760827912522.9%44
Q4 2020$46.3B1,0341404993499120.0%41
Q3 2020$40.3B9858742340010319.8%44
Q2 2020$37.4B1,00113245638019620.2%44
Q1 2020$31.1B1,06515447738516122.2%44
Q4 2019$40.8B1,07220042538112521.5%44
Q3 2019$38.1B9977534339616421.7%45
Q2 2019$38.8B1,08610928459024321.4%54
Q1 2019$41.4B1,22024243946615220.4%45
Q4 2018$38.0B1,130000022.2%37

Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.

Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.

Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.