FIRST REPUBLIC INVESTMENT MANAGEMENT, INC.

CIK

1418204

Location

San Francisco, CA

Portfolio Value

Large $23,853,016,235

Diversification

Diversified

Filing Date

Global Rank

#176 / 6,900 ▲ 160 · as of Sep 2023

Top Industry

Software - Infrastructure 7.5%

3Y Alpha vs SPY

-4.4%

Period ended 2 years ago

Filed Nov 8, 2023 · 2y

15 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+56.8%

SPY

+75.5%

Annualised alpha

-4.5%

Max drawdown

−18.2%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

1,154 positions · as of Sep 30, 2023 · Δ vs Jun 30, 2023

Top Position

6.1%

−5.6 pts

Top 5

21.4%

−6.6 pts

Top 10

29.2%

−11.3 pts

HHI

153

Diversified−125

Portfolio Trend

15 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2023

Sector	% Portfolio	Value	Positions
Technology	23.3%	$5,566,687,874	184
Healthcare	13.8%	$3,286,236,879	136
Financial Services	12.6%	$3,013,070,208	201
Consumer Cyclical	9.8%	$2,347,545,203	136
Industrials	9.1%	$2,168,569,579	166
Energy	8.1%	$1,920,661,554	57
Unclassified	6.2%	$1,478,372,995	7
Consumer Defensive	5.6%	$1,336,003,427	50
Communication Services	4.8%	$1,152,423,530	45
Real Estate	3.0%	$715,770,995	81
Basic Materials	2.5%	$603,463,145	50
Utilities	1.1%	$264,210,846	41

Last Quarter's Activity

Export CSV

Sep 30, 2023 vs Jun 30, 2023

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
STWD	Starwood Property Trust, Inc.	+1,349,284	2,941,284	$56,913,845
KKR	KKR & Co. Inc.	+728,475	854,226	$52,620,321
ARES	Ares Management Corp	+698,246	1,464,266	$150,629,043
CCJ	Cameco Corp	+650,436	670,042	$26,560,464
NVO	Novo Nordisk A S	+511,680	1,006,740	$91,552,935
FCX	Freeport-Mcmoran Inc	+266,125	336,802	$12,559,346
ESRT	Empire State Realty Trust, Inc.	+260,840	300,970	$2,419,798
CPA	Copa Holdings, S.A.	+254,345	261,319	$23,288,749
OKE	Oneok Inc /New/	+191,301	1,832,710	$116,248,795
NU	Nu Holdings Ltd.	+187,825	375,342	$2,721,229
KW	Kennedy-Wilson Holdings, Inc.	+170,208	442,882	$6,528,080
MRVL	Marvell Technology, Inc.	+140,676	792,479	$42,896,888
CRWD	CrowdStrike Holdings, Inc.	+112,479	297,275	$12,439,472
UBER	Uber Technologies, Inc	+95,316	1,509,335	$69,414,316
RYN	Rayonier Inc	+91,141	228,879	$6,513,896
EPD	Enterprise Products Partners L.P.	+87,535	812,489	$22,237,823
PAA	Plains All American Pipeline LP	+87,373	144,764	$2,217,784
COF	Capital One Financial Corp	+50,296	204,822	$19,877,975
WMB	Williams Companies, Inc.	+49,689	3,269,236	$110,140,560
PCOR	Procore Technologies, Inc.	+48,626	75,635	$4,940,478
SRE	Sempra	+46,384	117,263	$7,977,401
CAG	Conagra Brands Inc.	+44,212	99,605	$2,731,169
PCG	PG&E Corp	+42,976	108,100	$1,743,653
CPRT	Copart Inc	+41,074	82,760	$3,566,128
BXSL	Blackstone Secured Lending Fund	+37,148	54,854	$1,500,805
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
RMBS	Rambus Inc	−678,275	4,643	$259,032
PFE	Pfizer Inc	−610,207	3,406,550	$112,995,263
CCI	Crown Castle Inc.	−609,749	504,532	$46,432,079
BIPH	Brookfield Infrastructure Partners L.P.	−557,373	28,663	$842,692
RTX	RTX Corp	−374,486	1,494,708	$107,574,134
MRK	Merck & Co., Inc.	−334,740	3,062,384	$315,272,432
ARE	Alexandria Real Estate Equities, Inc.	−331,690	102,345	$10,244,734
SOFI	SoFi Technologies, Inc.	−221,252	105,335	$841,626
EXR	Extra Space Storage Inc.	−204,862	292,219	$35,527,986
SPY	Spdr S&P 500 ETF Trust	−199,924	2,232,889	$954,515,389
VTRS	Viatris Inc	−173,184	40,417	$398,511
ET	Energy Transfer LP	−160,490	736,012	$10,326,248
ABT	Abbott Laboratories	−155,227	1,644,689	$159,288,129
SLRC	SLR Investment Corp.	−154,208	123,856	$1,906,143
BMY	Bristol Myers Squibb Co	−140,345	433,312	$25,149,428
QQQ	Invesco Qqq Trust, Series 1	−127,983	1,102,727	$395,074,002
CFG	Citizens Financial Group Inc/Ri	−124,982	127,159	$3,407,861
SYY	Sysco Corp	−120,109	812,140	$53,641,847
ABBV	AbbVie Inc.	−115,354	2,228,037	$332,111,195
VLO	Valero Energy Corp/Tx	−113,249	143,511	$20,336,943
DOC	Healthpeak Properties, Inc.	−111,420	203,629	$3,738,628
LZ	Legalzoom.Com, Inc.	−111,074	364,026	$3,982,444
UDR	UDR, Inc.	−105,569	83,297	$2,971,203
JNJ	Johnson & Johnson	−99,616	756,793	$117,870,509
AES	Aes Corp	−92,377	86,006	$1,307,291
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
AAPL	Apple Inc.	8,488,091	$1,453,246,060
MSFT	Microsoft Corp	4,566,099	$1,441,745,759
GOOGL	Alphabet Inc.	4,848,423	$634,464,633
AMZN	Amazon Com Inc	4,799,700	$610,137,864
LLY	ELI LILLY & Co	811,230	$435,735,969
V	Visa Inc.	1,557,972	$358,349,139
CVX	Chevron Corp	2,068,493	$348,789,289
ETN	Eaton Corp plc	1,596,494	$340,500,240
PEP	Pepsico Inc	1,942,747	$329,179,051
XOM	ExxonMobil Holdings Corp	2,513,311	$295,515,107
JPM	Jpmorgan Chase & Co	1,745,109	$253,075,707
PG	PROCTER & GAMBLE Co	1,689,373	$246,411,945
ABNB	Airbnb, Inc.	1,715,164	$235,337,652
MS	Morgan Stanley	2,737,798	$223,595,962
HD	Home Depot, Inc.	685,763	$207,210,148
META	Meta Platforms, Inc.	665,709	$199,852,498
TXN	Texas Instruments Inc	1,233,476	$196,135,018
MCD	Mcdonalds Corp	729,444	$192,164,727
BX	Blackstone Inc.	1,781,964	$190,919,622
PLD	Prologis, Inc.	1,650,159	$185,164,341
CSCO	Cisco Systems, Inc.	3,333,468	$179,207,239
ISRG	Intuitive Surgical Inc	611,265	$178,666,646
LIN	Linde PLC	452,898	$168,636,570
BAC	Bank Of America Corp /De/	6,158,162	$168,610,475
DHR	Danaher Corp /De/	720,879	$158,555,029
No positions match the current search.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
RILY	BRC Group Holdings, Inc.	158,670	$7,295,646
IRDM	Iridium Communications Inc.	88,532	$5,499,607
SGHT	Sight Sciences, Inc.	551,802	$4,568,920
RRR	Red Rock Resorts, Inc.	44,167	$2,066,132
NXST	Nexstar Media Group, Inc.	12,334	$2,054,227
KNF	Knife River Corp	30,626	$1,332,231
SIMO	Silicon Motion Technology CORP	12,407	$891,567
TRC	Tejon Ranch Co	50,000	$860,500
ALDX	Aldeyra Therapeutics, Inc.	100,111	$839,931
HE	Hawaiian Electric Industries Inc	21,448	$776,417
RCKT	Rocket Pharmaceuticals, Inc.	36,530	$725,851
AROW	Arrow Financial Corp	30,808	$620,473
AGRO	Adecoagro S.A.	64,000	$599,040
BILL	BILL Holdings, Inc.	4,081	$476,864
BCSF	Bain Capital Specialty Finance, Inc.	33,450	$451,909
THRM	Gentherm Inc	6,312	$356,691
PHR	Phreesia, Inc.	11,473	$355,777
QDEL	QuidelOrtho Corp	4,281	$354,723
WTRG	Essential Utilities, Inc.	8,836	$352,644
CRNX	Crinetics Pharmaceuticals, Inc.	19,354	$348,759
TSEM	Tower Semiconductor Ltd	8,787	$329,688
CRI	Carters Inc	4,525	$328,515
NSP	Insperity, Inc.	2,730	$324,760
GRMN	Garmin Ltd	2,976	$310,367
TMDX	TransMedics Group, Inc.	3,660	$307,366
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

1,154 positions · $23,853,016,235 total · as of Sep 30, 2023

All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities

Showing 1–50 of 1,154 positions by value · page 1 of 24

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
AAPL	Apple Inc. Technology	NEW	8,488,091	NEW	$1,453,246,060	NEW	6.09%
MSFT	Microsoft Corp Technology	NEW	4,566,099	NEW	$1,441,745,759	NEW	6.04%
SPY	Spdr S&P 500 ETF Trust	Reduced	2,232,889	-199,924	$954,515,389	−11.5%	4.00%
GOOGL	Alphabet Inc. Communication Services	NEW	4,848,423	NEW	$634,464,633	NEW	2.66%
AMZN	Amazon Com Inc Consumer Cyclical	NEW	4,799,700	NEW	$610,137,864	NEW	2.56%
LLY	ELI LILLY & Co Healthcare	NEW	811,230	NEW	$435,735,969	NEW	1.83%
QQQ	Invesco Qqq Trust, Series 1	Reduced	1,102,727	-127,983	$395,074,002	−13.1%	1.66%
V	Visa Inc. Financial Services	NEW	1,557,972	NEW	$358,349,139	NEW	1.50%
CVX	Chevron Corp Energy	NEW	2,068,493	NEW	$348,789,289	NEW	1.46%
ETN	Eaton Corp plc Industrials	NEW	1,596,494	NEW	$340,500,240	NEW	1.43%
ABBV	AbbVie Inc. Healthcare	Reduced	2,228,037	-115,354	$332,111,195	+5.2%	1.39%
PEP	Pepsico Inc Consumer Defensive	NEW	1,942,747	NEW	$329,179,051	NEW	1.38%
UNH	Unitedhealth Group Inc Healthcare	Reduced	652,239	-50,580	$328,852,381	−2.6%	1.38%
MRK	Merck & Co., Inc. Healthcare	Reduced	3,062,384	-334,740	$315,272,432	−19.6%	1.32%
XOM	ExxonMobil Holdings Corp Energy	NEW	2,513,311	NEW	$295,515,107	NEW	1.24%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	842,194	-76,842	$295,020,558	−5.9%	1.24%
JPM	Jpmorgan Chase & Co Financial Services	NEW	1,745,109	NEW	$253,075,707	NEW	1.06%
PG	PROCTER & GAMBLE Co Consumer Defensive	NEW	1,689,373	NEW	$246,411,945	NEW	1.03%
ABNB	Airbnb, Inc. Consumer Cyclical	NEW	1,715,164	NEW	$235,337,652	NEW	0.99%
MS	Morgan Stanley Financial Services	NEW	2,737,798	NEW	$223,595,962	NEW	0.94%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	390,646	-29,075	$220,699,364	−2.3%	0.93%
HD	Home Depot, Inc. Consumer Cyclical	NEW	685,763	NEW	$207,210,148	NEW	0.87%
META	Meta Platforms, Inc. Communication Services	NEW	665,709	NEW	$199,852,498	NEW	0.84%
TXN	Texas Instruments Inc Technology	NEW	1,233,476	NEW	$196,135,018	NEW	0.82%
MCD	Mcdonalds Corp Consumer Cyclical	NEW	729,444	NEW	$192,164,727	NEW	0.81%
BX	Blackstone Inc. Financial Services	NEW	1,781,964	NEW	$190,919,622	NEW	0.80%
HON	Honeywell International Inc Industrials	Reduced	1,038,180	-43,596	$189,582,153	−14.6%	0.79%
PLD	Prologis, Inc. Real Estate	NEW	1,650,159	NEW	$185,164,341	NEW	0.78%
CSCO	Cisco Systems, Inc. Technology	NEW	3,333,468	NEW	$179,207,239	NEW	0.75%
ISRG	Intuitive Surgical Inc Healthcare	NEW	611,265	NEW	$178,666,646	NEW	0.75%
TMO	Thermo Fisher Scientific Inc. Healthcare	Reduced	350,667	-34,919	$177,497,115	−11.8%	0.74%
LIN	Linde PLC Basic Materials	NEW	452,898	NEW	$168,636,570	NEW	0.71%
BAC	Bank Of America Corp /De/ Financial Services	NEW	6,158,162	NEW	$168,610,475	NEW	0.71%
CB	Chubb Ltd Financial Services	Reduced	769,990	-64,554	$160,296,518	−0.3%	0.67%
ABT	Abbott Laboratories Healthcare	Reduced	1,644,689	-155,227	$159,288,129	−18.8%	0.67%
DHR	Danaher Corp /De/ Healthcare	NEW	720,879	NEW	$158,555,029	NEW	0.66%
MA	Mastercard Inc Financial Services	NEW	400,415	NEW	$158,528,302	NEW	0.66%
LMT	Lockheed Martin Corp Industrials	Reduced	375,715	-34,655	$153,652,406	−18.7%	0.64%
ARES	Ares Management Corp Financial Services	Added	1,464,266	+698,246	$150,629,043	+104.1%	0.63%
UNP	Union Pacific Corp Industrials	NEW	726,257	NEW	$147,887,712	NEW	0.62%
SBUX	Starbucks Corp Consumer Cyclical	NEW	1,611,976	NEW	$147,125,049	NEW	0.62%
LOW	Lowes Companies Inc Consumer Cyclical	NEW	695,393	NEW	$144,530,481	NEW	0.61%
ADBE	Adobe Inc. Technology	NEW	256,896	NEW	$130,991,270	NEW	0.55%
DIS	Walt Disney Co Communication Services	NEW	1,584,532	NEW	$128,426,318	NEW	0.54%
AMGN	Amgen Inc Healthcare	NEW	477,841	NEW	$128,424,547	NEW	0.54%
ACN	Accenture plc Technology	NEW	399,190	NEW	$122,595,240	NEW	0.51%
EMR	Emerson Electric Co Industrials	Reduced	1,239,095	-91,513	$119,659,404	−0.5%	0.50%
JNJ	Johnson & Johnson Healthcare	Reduced	756,793	-99,616	$117,870,509	−16.8%	0.49%
OKE	Oneok Inc /New/ Energy	Added	1,832,710	+191,301	$116,248,795	+14.7%	0.49%
TJX	Tjx Companies Inc /De/ Consumer Cyclical	NEW	1,304,932	NEW	$115,982,356	NEW	0.49%