Rajiv Jain's quality-growth manager - a global book that rotates hard between sectors when the regime turns.
| # | Holding | Our call | % of book | Value | Shares | QoQ |
|---|---|---|---|---|---|---|
| 1 | PM | Hold | 13.1% | $8.28B | 50.1M | Trimmed-9% |
| 2 | ENB | — | 6.5% | $4.13B | 76.4M | Trimmed-5% |
| 3 | CB | Buy | 6.4% | $4.05B | 12.4M | — |
| 4 | PBR | — | 5.7% | $3.60B | 173M | Added+28% |
| 5 | T | Hold | 3.7% | $2.36B | 81.4M | Trimmed-5% |
| 6 | VZ | Hold | 3.6% | $2.29B | 45.7M | Added+4% |
| 7 | CVX | Hold | 3.4% | $2.12B | 10.3M | Added+631% |
| 8 | IBN | — | 3.2% | $2.00B | 77.4M | Added+4% |
| 9 | AEP | Hold | 3.1% | $1.97B | 15.0M | Trimmed-11% |
| 10 | PROGRESSIVE CORP | — | 2.9% | $1.81B | 9.14M | Trimmed-12% |
| 11 | JNJ | Hold | 2.8% | $1.79B | 7.32M | Trimmed-6% |
| 12 | BTI | — | 2.6% | $1.62B | 27.7M | Trimmed-1% |
| 13 | KO | Hold | 2.5% | $1.61B | 21.1M | Trimmed-20% |
| 14 | CI | Buy | 2.5% | $1.60B | 6.00M | Trimmed-23% |
| 15 | MO | Hold | 2.5% | $1.57B | 23.8M | Trimmed-5% |
| 16 | ALL | Buy | 1.9% | $1.19B | 5.76M | Added+5% |
| 17 | OXY | Hold | 1.9% | $1.19B | 18.3M | NEW |
| 18 | SU | — | 1.8% | $1.14B | 17.2M | NEW |
| 19 | XOM | Hold | 1.8% | $1.13B | 6.66M | Trimmed-24% |
| 20 | EXC | Hold | 1.7% | $1.09B | 22.3M | Trimmed-11% |
| 21 | TRP | — | 1.7% | $1.06B | 16.9M | Added+5% |
| 22 | DUK | Hold | 1.6% | $1.02B | 7.80M | Trimmed-18% |
| 23 | KR | Buy | 1.5% | $922M | 12.7M | Trimmed-5% |
| 24 | BRKB | — | 1.4% | $909M | 1.90M | Trimmed-5% |
| 25 | XEL | Hold | 1.4% | $889M | 11.2M | Trimmed-9% |
| 26 | AWK | Hold | 1.4% | $875M | 6.43M | — |
| 27 | NEE | Hold | 1.4% | $860M | 9.26M | Trimmed-6% |
| 28 | CNQ | — | 1.4% | $854M | 17.6M | NEW |
| 29 | HDB | — | 1.3% | $848M | 34.1M | Trimmed-36% |
| 30 | DVN | Buy | 1.3% | $814M | 16.2M | NEW |
| 31 | AIG | Hold | 1.3% | $797M | 10.6M | Trimmed-32% |
| 32 | CME | Buy | 1.2% | $776M | 2.63M | Trimmed-38% |
| 33 | CVE | — | 1.1% | $708M | 26.8M | NEW |
| 34 | ITUB | — | 1.1% | $684M | 81.6M | Trimmed-16% |
| 35 | ABEV | — | 0.9% | $546M | 187M | Added+8% |
| 36 | UL | — | 0.8% | $536M | 9.40M | Added+4% |
| 37 | NVS | — | 0.6% | $374M | 2.45M | Trimmed-23% |
| 38 | EMBJ | — | 0.6% | $360M | 6.07M | Trimmed-24% |
| 39 | CMS | Hold | 0.5% | $342M | 4.41M | Trimmed-2% |
| 40 | FNV | — | 0.5% | $288M | 1.17M | Trimmed-33% |
| 41 | VALE | — | 0.4% | $264M | 16.6M | Trimmed-75% |
| 42 | BP | — | 0.4% | $257M | 5.46M | NEW |
| 43 | CINF | Buy | 0.4% | $239M | 1.52M | Trimmed-10% |
| 44 | CNP | Hold | 0.3% | $205M | 4.74M | Trimmed-17% |
| 45 | PEP | Hold | 0.3% | $165M | 1.06M | NEW |
| 46 | ATO | Hold | 0.3% | $164M | 887K | Added+26% |
| 47 | ACGL | Buy | 0.3% | $158M | 1.65M | Trimmed-3% |
| 48 | RNR | Buy | 0.2% | $149M | 502K | Added+30% |
| 49 | ORI | Buy | 0.2% | $141M | 3.53M | Added+3% |
| 50 | ASR | — | 0.2% | $123M | 366K | Added+1017% |
| 51 | TSM | — | 0.1% | $59.8M | 177K | Trimmed-90% |
| 52 | BAP | — | 0.0% | $24.8M | 73.0K | Trimmed-92% |
| 53 | TTE | — | 0.0% | $22.4M | 243K | Added+6% |
| 54 | E | — | 0.0% | $17.0M | 301K | Added+71% |
| 55 | PG | Hold | 0.0% | $13.9M | 96.5K | Trimmed-97% |
| 56 | PPL | Hold | 0.0% | $13.2M | 346K | Trimmed-93% |
| 57 | AZN | — | 0.0% | $8.87M | 45.5K | NEW |
| 58 | VALERO ENERGY CORP | — | 0.0% | $8.38M | 33.9K | — |
| 59 | SNY | — | 0.0% | $7.94M | 165K | Added+36% |
| 60 | MRK | Hold | 0.0% | $6.38M | 53.0K | — |
| 61 | SPY | — | 0.0% | $6.11M | 9.38K | Trimmed-81% |
| 62 | SO | Hold | 0.0% | $5.18M | 53.7K | — |
| 63 | ACWI | — | 0.0% | $3.65M | 26.3K | Trimmed-52% |
| 64 | BMY | Hold | 0.0% | $2.81M | 46.4K | NEW |
| 65 | PFE | Hold | 0.0% | $2.71M | 96.5K | — |
| 66 | CVS | Hold | 0.0% | $2.26M | 31.5K | — |
| 67 | GLD | — | 0.0% | $1.19M | 2.76K | NEW |
| 68 | APP | Buy | 0.0% | $743K | 1.87K | Trimmed-14% |
| 69 | WMT | Hold | 0.0% | $670K | 5.39K | Trimmed-11% |
| 70 | SHEL | — | 0.0% | $558K | 6.00K | Trimmed-18% |
| 71 | NVDA | Hold | 0.0% | $520K | 2.98K | Trimmed-27% |
| 72 | NGG | — | 0.0% | $500K | 5.91K | — |
| 73 | RY | — | 0.0% | $495K | 3.06K | — |
| 74 | BUD | — | 0.0% | $471K | 6.79K | Trimmed-100% |
| 75 | IWB | — | 0.0% | $396K | 1.11K | Trimmed-94% |
| 76 | V | Hold | 0.0% | $374K | 1.24K | Trimmed-85% |
| 77 | AXIA | — | 0.0% | $316K | 28.0K | Added+34% |
| 78 | AMZN | Buy | 0.0% | $299K | 1.43K | Trimmed-56% |
| 79 | VV | — | 0.0% | $253K | 846.00 | Trimmed-43% |
| 80 | GS | Hold | 0.0% | $252K | 298.00 | Trimmed-7% |
| 81 | GOOG | Buy | 0.0% | $203K | 706.00 | Trimmed-45% |
Source: SEC Form 13F-HR. Positions are as-of quarter end (filed up to 45 days later) and cover US-listed equities only — shorts, non-US listings and most derivatives don’t appear. Values as reported by the filer. “Our call” is TENK/calls’s independent SEC-grounded verdict, not the fund’s view.
Research and education only — not financial advice. TENKis not a registered investment adviser or broker-dealer and gives no personalized advice. Every call is impersonal — identical for all users, generated on a schedule from SEC filings plus a delayed/third-party price feed — may be wrong or out of date, and is not a recommendation to buy or sell any security. The operator and an affiliated trading operation may hold or trade the securities TENK rates; see Disclosures. Past performance does not guarantee future results. Do your own research.