Quadrature Capital Ltd
Long book
$8.40B
Q1 2026
Positions
1313
Top-10 weight
24%
concentration
Last quarter
+23.9%
SPY +14.8%
Turnover
74%
of book per quarter
Strategy in plain words
auto-generated from filingsQuadrature Capital Ltd is a mechanically diversified allocator, running a $8.40B US long book across 1313 positions.
The portfolio is broadly diversified across 1313 positions (top 10 only 24%). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: ASML HOLDING NV-NY REG SHS, UNITEDHEALTH GROUP INC, SPDR GOLD SHARES, SAP SE-SPONSORED ADR, MICRON TECHNOLOGY INC.
Over the last 9 quarters its long book ran on average 2.5pp per quarter ahead of the S&P 500, beating the index in 7 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.4%
Q2 2024
+6.7%
Q3 2024
+0.0%
Q4 2024
-2.7%
Q1 2025
+17.4%
Q2 2025
+13.9%
Q3 2025
+3.2%
Q4 2025
+0.1%
Q1 2026
+23.9%
Sector allocation
Technology 27%
Financials 20%
Industrials 19%
Healthcare 6%
Materials 6%
Energy 5%
Consumer discretionary 5%
Services media 4%
Long book by quarter
What does Quadrature Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 207.9K | $274.6M | 3.3% | +13.5% |
| UNH UNITEDHEALTH GROUP INC | Financials | 939.7K | $254.3M | 3.0% | +6.5% |
| MU MICRON TECHNOLOGY INC | Technology | 575.6K | $194.5M | 2.3% | -30.1% |
| SNDK SANDISK CORP | Technology | 296.4K | $188.3M | 2.2% | -64.7% |
| AMD ADVANCED MICRO DEVICES | Technology | 916.3K | $186.4M | 2.2% | -33.8% |
| TSLA TESLA INC | Industrials | 489.0K | $181.8M | 2.2% | +33.2% |
| AMZN AMAZON.COM INC | Consumer discretionary | 865.1K | $180.2M | 2.1% | +69.3% |
| MSFT MICROSOFT CORP | Technology | 416.3K | $154.1M | 1.8% | New |
| CRCL CIRCLE INTERNET GROUP INC | Financials | 1.6M | $149.1M | 1.8% | +171.1% |
| CRWD CROWDSTRIKE HOLDINGS INC - A | Technology | 324.3K | $126.6M | 1.5% | New |
| INTC INTEL CORP | Technology | 2.8M | $122.9M | 1.5% | New |
| TD TORONTO-DOMINION BANK | Financials | 1.3M | $119.9M | 1.4% | +6.6% |
| CVX CHEVRON CORP | Energy | 473.5K | $98.0M | 1.2% | +686.1% |
| WDC WESTERN DIGITAL CORP | Technology | 354.9K | $96.0M | 1.1% | New |
| BNS BANK OF NOVA SCOTIA | Financials | 1.2M | $85.1M | 1.0% | New |
| BCE BCE INC | Communications | 3.3M | $81.9M | 1.0% | -23.0% |
| MFC MANULIFE FINANCIAL CORP | Financials | 2.4M | $81.5M | 1.0% | +27.4% |
| PFE PFIZER INC | Healthcare | 2.8M | $78.4M | 0.9% | +3.3% |
| ORCL ORACLE CORP | Technology | 516.6K | $76.0M | 0.9% | New |
| ACN ACCENTURE PLC-CL A | Services media | 364.2K | $72.2M | 0.9% | +127.7% |
| RACE FERRARI NV | Industrials | 216.0K | $71.9M | 0.9% | +104.4% |
| CCJ CAMECO CORP | Materials | 583.5K | $63.3M | 0.8% | +536.5% |
| LLY ELI LILLY & CO | Healthcare | 67.0K | $61.6M | 0.7% | -69.0% |
| LMT LOCKHEED MARTIN CORP | Industrials | 101.3K | $61.2M | 0.7% | -65.0% |
| MS MORGAN STANLEY | Financials | 368.5K | $60.6M | 0.7% | +109.6% |
| AVGO BROADCOM INC | Technology | 188.9K | $58.5M | 0.7% | New |
| STLA STELLANTIS NV | Industrials | 7.9M | $55.1M | 0.7% | -44.5% |
| MSTR STRATEGY INC | Financials | 419.2K | $52.3M | 0.6% | -44.6% |
| BLK BLACKROCK INC | Financials | 52.7K | $50.7M | 0.6% | -29.6% |
| GE GENERAL ELECTRIC | Industrials | 175.5K | $49.8M | 0.6% | +17.6% |
| NVR NVR INC | Industrials | 7.3K | $47.8M | 0.6% | -19.4% |
| CNI CANADIAN NATL RAILWAY CO | Industrials | 452.0K | $46.4M | 0.6% | -80.0% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 225.8K | $45.9M | 0.5% | New |
| SU SUNCOR ENERGY INC | Energy | 666.5K | $43.9M | 0.5% | -54.6% |
| CLS CELESTICA INC | Technology | 155.4K | $43.7M | 0.5% | -29.7% |
| B BARRICK MINING CORP | Materials | 1.0M | $42.3M | 0.5% | -56.3% |
| BSX BOSTON SCIENTIFIC CORP | Healthcare | 670.1K | $42.0M | 0.5% | New |
| LRCX LAM RESEARCH CORP | Industrials | 191.9K | $41.0M | 0.5% | New |
| NTR NUTRIEN LTD | Other | 544.1K | $40.9M | 0.5% | +1207.1% |
| VZ VERIZON COMMUNICATIONS INC | Communications | 794.5K | $39.9M | 0.5% | +387.5% |
| STXN SEAGATE TECHNOLOGY HOLDINGS | — | 97.6K | $38.2M | 0.5% | New |
| AKAM AKAMAI TECHNOLOGIES INC | Services media | 313.0K | $35.9M | 0.4% | +1255.1% |
| MA MASTERCARD INC - A | Services media | 71.5K | $35.7M | 0.4% | New |
| ADBE ADOBE INC | Technology | 144.8K | $35.2M | 0.4% | -47.0% |
| T AT&T INC | Communications | 1.2M | $34.9M | 0.4% | New |
| AXP AMERICAN EXPRESS CO | Financials | 114.0K | $34.5M | 0.4% | New |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 234.9K | $34.4M | 0.4% | -61.8% |
| PGR PROGRESSIVE CORP | Financials | 164.0K | $32.5M | 0.4% | +9780.4% |
| ABT ABBOTT LABORATORIES | Healthcare | 315.2K | $32.4M | 0.4% | +284.9% |
| BA BOEING CO/THE | Industrials | 160.9K | $32.0M | 0.4% | -4.6% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 1313 | $8.40B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 1217 | $9.80B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 993 | $8.45B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 1000 | $5.81B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 1032 | $4.51B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 984 | $4.99B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 925 | $4.41B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 1088 | $5.96B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 1172 | $5.85B | canonical | SEC ↗ |
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