ARROWSTREET CAPITAL, LIMITED PARTNERSHIP

Adding where others sold. The largest position increases were Broadcom (+$2.8B, now 3.14% of the book), Alphabet (+$2.1B across share classes), Microsoft (+$1.8B) and Amazon (+$1.1B). Microsoft is the top holding at 4.86%, and the model leaned further into it. This is momentum and quality factor exposure expressing itself through accumulation, not caution.

New positions reach beyond tech. The fresh-money list is revealing: Suncor Energy ($1.7B) and Canadian Natural Resources ($1.4B) signal an energy tilt, Palantir ($1.5B) captures software momentum, and Intuitive Surgical ($971M) adds medical devices. AstraZeneca also entered the book.