Equity Income Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Equity Income Fund held 126 positions with $6.45B in net assets. Its ten largest holdings made up 25.6% of the fund. The TWEIX share class costs 0.94% a year. Over the 12 months to May 2026, TWEIX returned 15.5%, with dividends reinvested. In 2026 Q2 it added 29 new positions and exited 27.
The fund seeks current income.
The fund invests at least 80% of assets in equity securities of companies with favorable dividend or income-paying histories and prospects for continued or rising payouts, selecting also for undervaluation based on earnings, cash flows, or assets not fully reflected in stock price. The fund may hold foreign securities meeting the same criteria. Because security selection depends on the portfolio managers' assessment of valuation and income prospects, fund holdings and returns will differ from the broad equity market.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
3.25% | $210.02M | 826.9K | $253.97 | |
3.24% | $208.81M | 1.3M | $166.67 | |
2.94% | $189.94M | 580.3K | $327.33 | |
Enterprise Products Partners LP | 2.74% | $176.90M | 4.8M | $36.76 |
MSFTMicrosoft Corp | 2.57% | $165.71M | 444.2K | $373.02 |
2.51% | $161.86M | 1.1M | $151.33 | |
2.33% | $150.65M | 1.9M | $78.23 | |
2.25% | $145.47M | 1.3M | $109.77 | |
LINLinde PLC | 1.89% | $122.00M | 235.1K | $518.94 |
PEPPepsiCo Inc | 1.89% | $121.82M | 899.7K | $135.40 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
All 126 holdings, with the share counts as filed, open with a free account.
What the fund is made of
Percentages are of fund net assets. Rounding, liabilities and short positions can make totals differ from 100%.
| Stocks | 89.75% |
| Bonds | 8.78% |
| Cash & short-term | 0.17% |
| Derivatives | 0.02% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
By sector
- Financials
- 20.9%
- Health Care
- 13.5%
- Industrials
- 10.4%
- Information Technology
- 10.4%
- 10 other sectors
- 44.8%
- Financials
- 20.9%
- Health Care
- 13.5%
- Industrials
- 10.4%
- Information Technology
- 10.4%
- Consumer Staples
- 8.8%
- International
- 8.8%
- Utilities
- 8.7%
- Materials
- 5.8%
- Other
- 4.8%
- Energy
- 4.1%
- Communication Services
- 2.4%
- Consumer Discretionary
- 0.8%
- Real Estate
- 0.4%
- Cash
- 0.1%
How it has done
TWEIX share class · total returns with dividends reinvested
Volatility over the last 12 months: 9.76%. Past returns are a record, not a forecast.
Jun 2026 has been filed since the trailing figures were struck, so it is not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
The 9 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.94% | +15.46% | +37.83% | +39.72% | -8.10% | |
| 1.19% | +15.32% | +36.97% | +38.14% | -8.16% | |
| 0.74% | +15.65% | +38.74% | +41.20% | -8.04% | |
| 1.94% | +14.49% | +33.94% | +33.06% | -8.34% | |
| 1.44% | +15.01% | +35.87% | +36.35% | -8.15% | |
| 0.59% | +15.92% | +39.46% | +42.35% | -8.00% | |
| 0.59% | +15.92% | +39.30% | +42.19% | -7.99% | |
| 0.74% | +15.81% | +38.81% | +41.27% | -8.05% | |
| 0.01% | +16.56% | +41.84% | +46.41% | -7.85% |
These classes hold the same portfolio, so the 13.35pp spread over 5 years is the cost difference between them — roughly 2.67pp a year — not a difference in what they own.
Fees & fund details
Equity Income Fund is an actively managed U.S. equity fund. 1% of TWEIX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 85% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.01% – 1.94%· TWEIX 0.94%
- Portfolio turnover
- 31.00% a year · as of 2025 Q3
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Turnover is how much of the portfolio was replaced in a year.
Classified from what the fund holds, not from its name · 2026 Q2. The summary is a paraphrase of the prospectus; the objective is verbatim.
What changed this quarter
Positions that entered or left the fund since its previous filing. Positions that were only resized are not listed.
29 new· the largest 7
27 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 100.0% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 56.2% |
| 1-3y | 27.5% |
| 3-5y | 16.3% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Understand how this fund fits with the rest.
Explore shared holdings, compare funds and follow their businesses with your connected AI:
- “Where do my funds overlap — TWEIX, QQQ and the fund in my 401(k)?”
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