Joule 13F annual report
Joule is an investment fund managing more than $37.3 billion ran by Daniel Czulno. There are currently 65 companies in Mr. Czulno’s portfolio. The largest investments include Alphabet Inc and Uber Technologies Inc, together worth $4.11 billion.
$37.3 billion Assets Under Management (AUM)
As of 16th July 2024, Joule’s top holding is 12,402 shares of Alphabet Inc currently worth over $2.26 billion and making up 6.1% of the portfolio value.
Relative to the number of outstanding shares of Alphabet Inc, Joule owns more than approximately 0.1% of the company.
In addition, the fund holds 25,432 shares of Uber Technologies Inc worth $1.85 billion, whose value grew 4.6% in the past six months.
The third-largest holding is Microsoft worth $1.66 billion and the next is International Business Machs worth $1.64 billion, with 9,467 shares owned.
Currently, Joule's portfolio is worth at least $37.3 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Joule
The Joule office and employees reside in Lexington, Kentucky. According to the last 13-F report filed with the SEC, Daniel Czulno serves as the Managing Director at Joule.
Recent trades
In the most recent 13F filing, Joule revealed that it had opened a new position in
First Solar Inc and bought 3,604 shares worth $813 million.
This means they effectively own approximately 0.1% of the company.
First Solar Inc makes up
77.6%
of the fund's Utilities sector allocation and has decreased its share price by approximately 0.1% in the past year.
The investment fund also strengthened its position in Alphabet Inc by buying
3,477 additional shares.
This makes their stake in Alphabet Inc total 12,402 shares worth $2.26 billion.
Alphabet Inc dropped approximately 0.1% in the past year.
On the other hand, there are companies that Joule is getting rid of from its portfolio.
Joule closed its position in Vanguard Bd Index Fds on 23rd July 2024.
It sold the previously owned 605,937 shares for $44.6 billion.
Daniel Czulno also disclosed a decreased stake in Microsoft by 0.1%.
This leaves the value of the investment at $1.66 billion and 3,715 shares.
One of the smallest hedge funds
The two most similar investment funds to Joule are Bnp Paribas Asset Management S.A. and Betterment. They manage $37.3 billion and $37.3 billion respectively.
Daniel Czulno investment strategy
Joule’s portfolio is diversified across 10 sectors.
Currently, their heaviest sector is Technology — making up 20.7% of
the total portfolio value.
The fund focuses on investments in the United States as
63.1% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are large-cap stocks.
Stocks with a size of more than $10 billion in market cap make up
57% of the total holdings value.
On the other hand, small-cap stocks make up only 3.1% of the portfolio.
The average market cap of the portfolio companies is close to $267 billion.
The complete list of Joule trades based on 13F SEC filings
These positions were updated on July 23rd based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Vanguard Bd Index Fds |
Closed
605,937
|
$44,566,676,000 | |
| Invesco Exchange Traded Fd T |
Closed
149,612
|
$23,608,837,000 | |
| Ishares Tr |
Closed
210,955
|
$23,715,539,000 | |
| Schwab Strategic Tr |
Closed
545,611
|
$29,121,225,000 | |
| Spdr Gold Tr |
Closed
58,051
|
$11,097,610,000 | |
| Vanguard World Fds |
Closed
90,556
|
$18,577,375,000 | |
| Vanguard Intl Equity Index F |
Closed
144,869
|
$5,954,142,000 | |
| Vanguard Tax-managed Fds |
Closed
118,186
|
$5,661,144,000 | |
| Alphabet Inc |
38.96%
12,402
|
$2,258,962,000 | 6.06% |
| Uber Technologies Inc |
3.36%
25,432
|
$1,848,398,000 | 4.96% |
| Snowflake Inc. |
Closed
8,605
|
$1,712,395,000 | |
| Microsoft Corporation |
12.24%
3,715
|
$1,660,527,000 | 4.45% |
| International Business Machs |
12.35%
9,467
|
$1,637,235,000 | 4.39% |
| Genuine Parts Co. |
0.05%
10,945
|
$1,524,857,000 | 4.09% |
| Tesla Inc |
32.99%
7,107
|
$1,406,337,000 | 3.77% |
| Lululemon Athletica inc. |
Closed
2,152
|
$1,100,296,000 | |
| Cameco Corp. |
30.27%
21,526
|
$1,059,079,000 | 2.84% |
| VanEck ETF Trust |
Closed
33,301
|
$1,032,693,000 | |
| Ark Etf Tr |
Closed
19,608
|
$1,026,871,000 | |
| Disney Walt Co |
14.61%
10,308
|
$1,023,441,000 | 2.74% |
| Select Sector Spdr Tr |
Closed
12,191
|
$1,022,120,000 | |
| Prudential Finl Inc |
179.76%
8,183
|
$958,920,000 | 2.57% |
| Procter And Gamble Co |
5.52%
5,795
|
$955,707,000 | 2.56% |
| Amazon.com Inc. |
26.11%
4,304
|
$831,748,000 | 2.23% |
| Micron Technology Inc. |
12.35%
6,267
|
$824,299,000 | 2.21% |
| First Solar Inc |
Opened
3,604
|
$812,558,000 | 2.18% |
| Boston Scientific Corp. |
Closed
12,776
|
$738,581,000 | |
| JPMorgan Chase & Co. |
57.40%
3,576
|
$723,186,000 | 1.94% |
| Exxon Mobil Corp. |
31.46%
6,113
|
$703,784,000 | 1.89% |
| Commerce Bancshares, Inc. |
Closed
13,111
|
$700,259,000 | |
| Cleveland-Cliffs Inc |
Closed
33,655
|
$687,235,000 | |
| Costco Whsl Corp New |
1.14%
778
|
$661,334,000 | 1.77% |
| Apple Inc |
2.15%
3,046
|
$641,535,000 | 1.72% |
| Texas Instrs Inc |
17.83%
3,099
|
$602,848,000 | 1.62% |
| PayPal Holdings Inc |
Opened
10,077
|
$584,768,000 | 1.57% |
| Aercap Holdings Nv |
16.07%
6,084
|
$567,029,000 | 1.52% |
| Cummins Inc. |
4.14%
2,038
|
$564,383,000 | 1.51% |
| Emerson Elec Co |
7.18%
5,001
|
$550,910,000 | 1.48% |
| S&P Global Inc |
0.33%
1,222
|
$545,012,000 | 1.46% |
| Capital One Finl Corp |
8.10%
3,882
|
$537,463,000 | 1.44% |
| Eaton Corp Plc |
3.74%
1,597
|
$500,739,000 | 1.34% |
| Oklo Inc |
Opened
58,973
|
$499,501,000 | 1.34% |
| Eli Lilly & Co |
5.16%
551
|
$498,864,000 | 1.34% |
| Occidental Pete Corp |
Opened
7,863
|
$497,341,000 | 1.33% |
| Deere & Co. |
Opened
1,330
|
$496,928,000 | 1.33% |
| Chevron Corp. |
2.91%
3,002
|
$469,573,000 | 1.26% |
| Goldman Sachs Group, Inc. |
10.96%
1,002
|
$453,225,000 | 1.22% |
| 3M Co. |
Closed
4,104
|
$448,649,000 | |
| Ethan Allen Interiors, Inc. |
Opened
15,916
|
$443,909,000 | 1.19% |
| Meta Platforms Inc |
5.61%
875
|
$441,339,000 | 1.18% |
| Pepsico Inc |
2.17%
2,659
|
$438,549,000 | 1.18% |
| Cisco Sys Inc |
13.49%
9,189
|
$436,573,000 | 1.17% |
| Merck & Co Inc |
7.37%
3,496
|
$435,509,000 | 1.17% |
| NVIDIA Corp |
264.04%
3,189
|
$394,031,000 | 1.06% |
| Dow Inc |
Opened
7,373
|
$391,138,000 | 1.05% |
| Caterpillar Inc. |
4.12%
1,164
|
$387,728,000 | 1.04% |
| Price T Rowe Group Inc |
9.82%
3,345
|
$385,724,000 | 1.03% |
| Pfizer Inc. |
6.52%
13,631
|
$381,408,000 | 1.02% |
| Southwestern Energy Company |
Opened
55,421
|
$372,983,000 | 1.00% |
| United Parcel Service, Inc. |
9.00%
2,724
|
$372,835,000 | 1.00% |
| International Paper Co. |
Closed
10,271
|
$371,297,000 | |
| Metlife Inc |
8.08%
5,284
|
$370,884,000 | 0.99% |
| Snap-on, Inc. |
Closed
1,281
|
$370,004,000 | |
| Garmin Ltd |
1.05%
2,171
|
$353,695,000 | 0.95% |
| Union Pac Corp |
33.32%
1,529
|
$345,952,000 | 0.93% |
| Johnson & Johnson |
9.01%
2,151
|
$314,390,000 | 0.84% |
| Abbvie Inc |
4.87%
1,831
|
$314,053,000 | 0.84% |
| Coca-Cola Co |
1.44%
4,867
|
$312,179,000 | 0.84% |
| Palantir Technologies Inc. |
35.24%
11,918
|
$301,883,000 | 0.81% |
| General Mls Inc |
51.21%
4,695
|
$297,006,000 | 0.80% |
| Franklin Resources, Inc. |
22.69%
13,070
|
$296,166,000 | 0.79% |
| RTX Corp |
0.17%
2,946
|
$295,749,000 | 0.79% |
| Invesco Exch Traded Fd Tr Ii |
Closed
26,492
|
$478,120,000 | |
| Nucor Corp. |
Closed
1,518
|
$264,193,000 | |
| Fifth Third Bancorp |
9.59%
6,814
|
$251,028,000 | 0.67% |
| Fastenal Co. |
59.99%
3,972
|
$249,600,000 | 0.67% |
| Intel Corp. |
Closed
4,922
|
$247,363,000 | |
| Vanguard Index Fds |
Closed
1,452
|
$455,490,000 | |
| Visa Inc |
2.96%
918
|
$240,947,000 | 0.65% |
| Duke Energy Corp. |
1.88%
2,344
|
$234,893,000 | 0.63% |
| Stock Yds Bancorp Inc |
No change
4,643
|
$232,011,000 | 0.62% |
| Home Depot, Inc. |
Closed
657
|
$227,683,000 | |
| American Superconductor Corp. |
53.18%
9,654
|
$225,807,000 | 0.61% |
| Berkshire Hathaway Inc. |
Opened
523
|
$212,756,000 | 0.57% |
| Proshares Tr |
Closed
4,177
|
$211,790,000 | |
| Mcdonalds Corp |
3.98%
821
|
$209,224,000 | 0.56% |
| Target Corp |
Opened
1,387
|
$205,302,000 | 0.55% |
| Kimberly-Clark Corp. |
Opened
1,454
|
$202,728,000 | 0.54% |
| Denison Mines Corp |
No change
10,200
|
$20,298,000 | 0.05% |
| New Gold Inc Cda |
Opened
10,000
|
$19,500,000 | 0.05% |
| No transactions found | |||
| Showing first 500 out of 90 holdings | |||
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