REGENTS OF THE UNIVERSITY OF CALIFORNIA

CIK 0000315054 · Q2 2026

13F Equity AUM

$4.4B

+45.1% QoQ

Positions

-1 QoQ

AUM Rank

#1,613

Top 13%

Skill Alpha (FF)

+11.3%/yr^ns

No Clear Edge

Rank #315 · Top 4%

vs S&P +8.7%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 97.2%Top 10: 100.0%Top 20: 100.0%

STT38.5%

SPACE EXPLORATION TECHN CL A23.5%

ASML16.0%

OTF10.3%

BN8.8%

GLDM2.6%

BLLN0.1%

SRZN0.1%

OWL0.0%

CHYM0.0%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services60.3%

Unclassified23.5%

Technology16.0%

Other0.2%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 10Median: 5.69%Avg: 10.00%

0–0.5%

4(0.2%)

0.5–1%

0(0.0%)

1–3%

1(2.6%)

3–5%

0(0.0%)

5%+

5(97.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 10vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New3Increased0Decreased1Exited4

New Positions

SPACE EXPLORATION TE…23.5%

+6.0M

BLLN0.1%

+41K

CHYM0.0%

+14K

Decreased

STT38.5%

-147,287(-1%)

Exited

-645,120

-1,516,016

FDS

-226,375

QTOP

-1,005,773

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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