Francis 13F annual report

Francis is an investment fund managing more than $329 billion ran by Avani Ramnani. There are currently 44 companies in Ramnani’s portfolio. The largest investments include Vanguard Index Fds and Vanguard Bd Index Fds, together worth $122 billion.

Limited to 30 biggest holdings

$329 billion Assets Under Management (AUM)

As of 5th July 2024, Francis’s top holding is 200,092 shares of Vanguard Index Fds currently worth over $89.9 billion and making up 27.4% of the portfolio value. In addition, the fund holds 432,728 shares of Vanguard Bd Index Fds worth $32.4 billion. The third-largest holding is Meta Platforms Inc worth $31.1 billion and the next is Vanguard Whitehall Fds worth $17.1 billion, with 144,246 shares owned.

Currently, Francis's portfolio is worth at least $329 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 Francis

The Francis office and employees reside in New York, New York. According to the last 13-F report filed with the SEC, Avani Ramnani serves as the Managing Director at Francis.

Recent trades

In the most recent 13F filing, Francis revealed that it had opened a new position in Vanguard Admiral Fds Inc and bought 71,536 shares worth $7.09 billion.

The investment fund also strengthened its position in Vanguard Bd Index Fds by buying 68,301 additional shares. This makes their stake in Vanguard Bd Index Fds total 432,728 shares worth $32.4 billion.

On the other hand, there are companies that Francis is getting rid of from its portfolio. Francis closed its position in Vanguard Wellington Fd on 12th July 2024. It sold the previously owned 4,599 shares for $466 million. Avani Ramnani also disclosed a decreased stake in Vanguard Index Fds by approximately 0.1%. This leaves the value of the investment at $89.9 billion and 200,092 shares.

One of the smaller hedge funds

The two most similar investment funds to Francis are Dorsey Wright & Associates and Periscope Capital. They manage $329 billion and $329 billion respectively.

Avani Ramnani investment strategy

Francis’s portfolio is diversified across 6 sectors. Currently, their heaviest sector is Technology — making up 11.9% of the total portfolio value. The fund focuses on investments in the United States as 34.1% 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 32% of the total holdings value. On the other hand, small-cap stocks make up only 2.3% of the portfolio. The average market cap of the portfolio companies is close to $583 billion.

The complete list of Francis trades based on 13F SEC filings

These positions were updated on July 12th 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 Index Fds	4.57% 200,092	$89,939,652,000	27.35%
Vanguard Bd Index Fds	18.74% 432,728	$32,406,998,000	9.86%
Meta Platforms Inc	3,269.10% 61,722	$31,121,398,000	9.46%
Vanguard Whitehall Fds	4.08% 144,246	$17,107,547,000	5.20%
Dimensional Etf Trust	24.83% 922,529	$30,028,005,000	9.13%
Ishares Tr	5.97% 1,115,441	$62,566,866,000	19.03%
Vanguard Scottsdale Fds	562.32% 172,866	$13,113,615,000	3.99%
Vanguard Admiral Fds Inc	Opened 71,536	$7,089,993,000	2.16%
Nushares Etf Tr	5.56% 77,791	$6,313,518,000	1.92%
Ishares Tr	Opened 121,980	$7,975,178,000	2.43%
Apple Inc	15.59% 17,254	$3,634,113,000	1.11%
Microsoft Corporation	27.35% 5,382	$2,405,324,000	0.73%
Alphabet Inc	15.97% 15,682	$2,861,914,000	0.87%
Vanguard Intl Equity Index F	21.61% 47,242	$2,067,330,000	0.63%
Amazon.com Inc.	10.11% 9,736	$1,881,564,000	0.57%
NVIDIA Corp	1,666.77% 11,431	$1,412,187,000	0.43%
Invesco Exchange Traded Fd T	No change 7,762	$1,275,098,000	0.39%
Spdr Sp 500 Etf Tr	1.76% 2,237	$1,217,421,000	0.37%
First Tr Exch Traded Fd Iii	38.09% 55,394	$1,095,140,000	0.33%
Berkshire Hathaway Inc.	13.42% 2,316	$942,149,000	0.29%
Corning, Inc.	0.83% 22,655	$880,147,000	0.27%
Dimensional Etf Trust	Opened 60,852	$1,962,209,000	0.60%
Invesco Exch Traded Fd Tr Ii	Opened 32,555	$770,903,000	0.23%
Schwab Strategic Tr	Opened 43,221	$1,969,461,000	0.60%
Vanguard Tax-managed Fds	4.58% 10,745	$531,018,000	0.16%
Jpmorgan Chase Co.	2.39% 2,443	$494,103,000	0.15%
Eli Lilly Co	41.07% 529	$479,258,000	0.15%
Vanguard Wellington Fd	Closed 4,599	$466,385,000
International Business Machs	3.56% 2,548	$440,677,000	0.13%
Vanguard World Fd	13.01% 722	$416,298,000	0.13%
Pnc Finl Svcs Group Inc	3.96% 2,426	$377,195,000	0.11%
Schlumberger Ltd.	5.91% 7,622	$359,606,000	0.11%
Home Depot, Inc.	18.73% 989	$340,448,000	0.10%
Spdr Dow Jones Indl Average	No change 851	$332,852,000	0.10%
Goldman Sachs Group, Inc.	20.21% 702	$317,529,000	0.10%
Broadcom Inc.	Opened 196	$314,684,000	0.10%
Capital Group Dividend Value	Opened 9,486	$313,038,000	0.10%
Capital Group Gbl Growth Eqt	Opened 10,505	$309,268,000	0.09%
Unitedhealth Group Inc	29.23% 588	$299,445,000	0.09%
Vanguard Specialized Funds	No change 1,555	$283,900,000	0.09%
Mcdonalds Corp	2.72% 1,097	$279,560,000	0.09%
Disney Walt Co	0.52% 2,318	$230,155,000	0.07%
Procter And Gamble Co	Opened 1,381	$227,755,000	0.07%
Visa Inc	Opened 865	$227,037,000	0.07%
Tesla Inc	Opened 1,091	$215,888,000	0.07%
Starbucks Corp.	Closed 2,230	$214,077,000
Rent The Runway Inc	Closed 14,326	$7,557,000
No transactions found
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