WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST

CIK 0001026720 · Q2 2026

13F Equity AUM

$9.0B

+11.3% QoQ

Positions

-1 QoQ

AUM Rank

#1,178

Top 9%

Skill Alpha (FF)

-0.9%/yr^ns

No Clear Edge

Rank #4,061 · Top 49%

vs S&P -0.8%/yr (unadj.)

Quarters Tracked

~13 years

Portfolio Concentration

Top 5: 41.8%Top 10: 74.3%Top 20: 100.0%

V9.1%

AAPL9.0%

AMZN8.7%

CSCO7.8%

GOOGL7.1%

GOOG7.1%

MSFT7.0%

LIN6.5%

DASH6.1%

BRK/A5.8%

Others (10)25.7%

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

Sector Allocation

Technology28.5%

Communication Services20.3%

Financial Services13.2%

Healthcare12.5%

Consumer Cyclical10.1%

Basic Materials6.5%

Financials5.8%

Consumer Defensive3.0%

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

Position Sizing

Positions: 20Median: 5.32%Avg: 5.00%

0–0.5%

1(0.1%)

0.5–1%

1(0.7%)

1–3%

3(5.4%)

3–5%

5(19.6%)

5%+

10(74.3%)

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

Loading summary cards...

Portfolio Overlap

Shared: 0Unique: 20vs 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.

Loading overlap analysis...

Position Changes This Quarter

New0Increased2Decreased0Exited1

Increased

MSFT7.0%

+195K(+13%)

MA4.1%

+48K(+7%)

Exited

MDLN

-146,602

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

Loading position changes...

Holdings

Loading holdings...