Kedalion Capital Management LLP

Key Holdings

The portfolio is currently dominated by three major index-tracking ETFs, all focused on U.S. large-cap equities. The largest position is the iShares Core S&P 500 ETF (IVV), with a value of $1.98 billion, representing 48.59% of the portfolio. The firm holds 2.89 million shares of IVV. The second-largest holding is the Vanguard S&P 500 ETF (VOO), valued at $1.79 billion (43.85% allocation), consisting of 2.85 million shares. Together, IVV and VOO account for over 92% of the fund's total value, effectively doubling down on the S&P 500 index through two different issuers.