Sequoia Fund underperformed the S&P 500 by 340 basis points in Q2 2026, adding to Bio-Techne, SAP, and ICON while trimming Sunbelt Rentals and Elevance Health.
Windowpast 90 days · 1 event · ending Aug 3, 2026
Source1 citation →
GeneratedAug 3, 2026
NoteAuto-generated summary · not investment advice · verify before acting.
| Security | Shares | Market value | % of portfolio |
|---|
| ALPHABET INC CAP STK CL A | 2,174,821Shares decreased 8% | $680.7M | 10.6% |
| SCHWAB CHARLES CORP COM | 5,594,948Shares decreased 11% | $559.0M | 8.7% |
| LIBERTY MEDIA CORP DEL COM LBTY ONE S C | 5,491,118Shares decreased 1% | $540.9M | 8.4% |
| CAPITAL ONE FINL CORP COM | 2,068,023Shares decreased 1% | $501.2M | 7.8% |
| ELEVANCE HEALTH INC FORMERLY COM | 1,422,506Shares decreased 2% | $498.7M | 7.8% |
| INTERCONTINENTAL EXCHANGE IN COM | 2,703,907Shares decreased 1% | $437.9M | 6.8% |
| TAIWAN SEMICONDUCTOR MFG LTD SPONSORED ADS | 1,421,721Shares decreased 24% | $432.0M | 6.7% |
| ALPHABET INC CAP STK CL C | 1,142,353Shares decreased 9% | $358.5M | 5.6% |
| ICON PLC SHS | 1,679,590Shares decreased 1% | $306.1M | 4.8% |
| MSA SAFETY INC COM | 1,811,635Shares increased 6% | $290.1M | 4.5% |
| G1151C101ACCENTURE PLC IRELAND SHS CLASS A | 943,420New position this quarter | $253.1M | 4.0% |
| UNITEDHEALTH GROUP INC COM | 745,999Shares decreased 2% | $246.3M | 3.8% |
| CREDIT ACCEP CORP MICH COM | 536,132Shares decreased 7% | $237.8M | 3.7% |
| ALIGN TECHNOLOGY INC COM | 1,222,534New position this quarter | $190.9M | 3.0% |
| BERKSHIRE HATHAWAY INC DEL CL B NEW | 316,106Shares decreased 2% | $158.9M | 2.5% |
| META PLATFORMS INC CL A | 239,018Shares decreased 2% | $157.8M | 2.5% |
| LIBERTY BROADBAND CORP COM SER C | 1,841,624Shares decreased 2% | $89.5M | 1.4% |
| BERKSHIRE HATHAWAY INC DEL CL A | 115Shares decreased 2% | $86.8M | 1.4% |
| BIO-TECHNE CORP COM | 1,465,935Shares decreased 1% | $86.2M | 1.3% |
| CHARTER COMMUNICATIONS INC N CL A | 362,000Shares decreased 3% | $75.6M | 1.2% |
| AMENTUM HOLDINGS INC COM | 2,394,129Shares decreased 1% | $69.4M | 1.1% |
| LIBERTY MEDIA CORP DEL COM LBTY ONE S A | 738,880Shares decreased <1% | $66.0M | 1.0% |
| LIBERTY BROADBAND CORP COM SER A | 652,780Shares decreased 2% | $31.5M | 0.5% |
| GCI LIBERTY INC COM SER C | 539,071Shares increased 44% | $20.1M | 0.3% |
| SAP SE SPON ADR | 45,927Shares decreased <1% | $11.2M | 0.2% |
| GCI LIBERTY INC COM SER A | 131,168Shares decreased 2% | $4.8M | 0.1% |
| EQUITABLE HLDGS INC COM | 40,636 | $1.9M | 0.0% |
| GROUP 1 AUTOMOTIVE INC COM | 3,610 | $1.4M | 0.0% |
| LITHIA MTRS INC COM | 3,049Shares increased 12% | $1.0M | 0.0% |
| VANGUARD INDEX FDS TOTAL STK MKT | 2,678Shares increased 1% | $0.9M | 0.0% |
| JACOBS SOLUTIONS INC COM | 6,487Shares decreased 31% | $0.9M | 0.0% |
| MICRON TECHNOLOGY INC COM | 2,162 | $0.6M | 0.0% |
| NETFLIX INC COM | 5,220Shares increased 764% | $0.5M | 0.0% |
| INVESCO EXCHANGE TRADED FD T S&P 500A EQL | 11,029New position this quarter | $0.4M | 0.0% |
| VANGUARD STAR FDS VG TL INTL STK F | 5,438Shares increased 3% | $0.4M | 0.0% |
| AMERICAN EXPRESS CO COM | 932 | $0.3M | 0.0% |
| MICROSOFT CORP COM | 689 | $0.3M | 0.0% |
| KASPI KZ JSC SPONSORED ADS | 4,112Shares increased 11% | $0.3M | 0.0% |
| P31076105COPA HOLDINGS SA CL A | 2,555 | $0.3M | 0.0% |
| DOLLAR GEN CORP NEW COM | 2,170 | $0.3M | 0.0% |
| STELLANTIS N.V SHS | 25,581Shares decreased 6% | $0.3M | 0.0% |
| S&P GLOBAL INC COM | 531 | $0.3M | 0.0% |
| SINCLAIR INC CL A | 17,959 | $0.3M | 0.0% |
| APPLE INC COM | 891 | $0.2M | 0.0% |
| FERGUSON ENTERPRISES INC COMMON STOCK NEW | 1,000 | $0.2M | 0.0% |
| SMITH DOUGLAS HOMES CORP COM SHS CL A | 12,209 | $0.2M | 0.0% |
| VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF | 1,426New position this quarter | $0.2M | 0.0% |
| RIMINI STR INC DEL COM | 37,141 | $0.1M | 0.0% |
Sequoia Fund executed its largest single-quarter portfolio reshuffle on record in Q1 2026, rebalancing roughly 30% of its disclosed book — $1.7B — across technology, healthcare, and financial services. The fund's biggest new commitments were a $608.9M position in Alphabet (≈10% of book) and a $443.1M position in Charles Schwab (≈7% of book). Sequoia also opened a $357.2M stake in Sunbit (≈6% of book), a $291.2M position in MSA Safety (≈5% of book), and a $286.7M position in Zoetis (≈5% of book). Smaller new positions included UnitedHealth Group ($197.1M), Align Technology ($206.8M), ICON plc ($180.9M), and Bio-Techne ($177.3M), alongside 20-plus additional names. On the trimmed side, Financials fell by a net $558.4M (≈10% of book) and Communication Services by $390.3M (≈7% of book). Sequoia trimmed its GOOG holding for a seventh consecutive quarter and reduced its SCHW position for a seventh consecutive quarter — even as it simultaneously opened fresh stakes in both names, reflecting a deliberate reshaping of sizing rather than outright exits. The fund fell 11.04% in Q1 2026, underperforming the S&P 500 during the repositioning. The common thread across the quarter's moves is a shift away from concentrated legacy positions toward a broader, more diversified book — anchored by large new stakes in healthcare and industrials names alongside a rebuilt technology core.
AI summary of filed 13F sector changes
Communication Services rose most (▲ +6pp) · Financials fell most (▼ −8pp)
43 of 48 holdings classified · Sectors derived from free SEC SIC codes + curated overrides.
Latest filed · 2026-06-30
Every entry below is an auto-generated factual summary of a public filing or disclosure. Not investment advice. Verify before acting.
What they said
Sequoia Fund underperformed the S&P 500 by 340 basis points in Q2 2026, adding to Bio-Techne, SAP, and ICON while trimming Sunbelt Rentals and Elevance Health. (letter)
2026-06-30
What they said
Sequoia Fund underperformed the S&P 500 by 340 basis points in Q2 2026, adding to Bio-Techne, SAP, and ICON while trimming Sunbelt Rentals and Elevance Health. (letter)
2026-06-30
What they said
Sequoia Fund underperformed the S&P 500 by 340 basis points in Q2 2026, adding to Bio-Techne, SAP, and ICON while trimming Sunbelt Rentals and Elevance Health. (letter)
2026-06-30
What they said
Sequoia Fund underperformed the S&P 500 by 340 basis points in Q2 2026, adding to Bio-Techne, SAP, and ICON while trimming Sunbelt Rentals and Elevance Health. (letter)
2026-06-30
What they said
Sequoia Fund underperformed the S&P 500 by 340 basis points in Q2 2026, adding to Bio-Techne, SAP, and ICON while trimming Sunbelt Rentals and Elevance Health. (letter)
2026-06-30
What they said
Sequoia Fund underperformed the S&P 500 by 340 basis points in Q2 2026, adding to Bio-Techne, SAP, and ICON while trimming Sunbelt Rentals and Elevance Health. (letter)
2026-06-30
What they said
Sequoia Fund underperformed the S&P 500 by 340 basis points in Q2 2026, adding to Bio-Techne, SAP, and ICON while trimming Sunbelt Rentals and Elevance Health. (letter)
2026-06-30
What they said
Sequoia Fund fell 11.04% in Q1 2026, underperforming the S&P 500, while trimming Meta, TSMC, and others to fund new positions. (letter)
2026-03-31
What they said
Sequoia Fund fell 11.04% in Q1 2026, underperforming the S&P 500, while trimming Meta, TSMC, and others to fund new positions. (letter)
2026-03-31
