New Economy Fund
Actively managed global stock fund
As of its 2026 Q2 report, New Economy Fund held 176 positions with $51.60B in net assets. Its ten largest holdings made up 41.5% of the fund. The ANEFX share class costs 0.72% a year. Over the 12 months to May 2026, ANEFX returned 55.9%, with dividends reinvested. In 2026 Q2 it added 14 new positions and exited 20.
The investment objective of the fund is long-term growth of capital.
The fund invests primarily in common stocks of companies positioned to benefit from innovation and new technologies in a changing global economy, selected by the investment adviser for their growth potential and attractive valuation. The fund may hold up to 50% of assets outside the United States, including in developing countries, and may invest in smaller-capitalization stocks. A multi-manager structure divides the portfolio into segments managed by individual portfolio managers. Because security selection depends on the investment adviser's judgment about which companies represent good long-term opportunities, fund performance will diverge from any benchmark based on the adviser's stock-picking decisions.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
6.17% | $3.18B | 3.3M | $971.00 | |
AVGOBROADCOM INC | 5.75% | $2.97B | 6.6M | $446.77 |
CMQXXCAPITAL GROUP CENTRAL CASH FUND | 5.62% | $2.90B | — | — |
SK HYNIX INC | 5.04% | $2.60B | 1.7M | $1,548.11 |
GOOGLALPHABET INC | 3.60% | $1.86B | 4.9M | $380.34 |
AMZNAMAZON.COM INC | 3.58% | $1.85B | 6.8M | $270.64 |
NVDANVIDIA CORP | 3.26% | $1.68B | 8.0M | $211.14 |
TAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 3.08% | $1.59B | 21.1M | $75.18 |
2.75% | $1.42B | 2.7M | $531.21 | |
TSMTAIWAN SEMICONDUCTOR MANUFACTURING CO LTD | 2.71% | $1.40B | 3.3M | $418.45 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-05-31 — not a live quote, and not what the fund paid.
All 176 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 | 94.08% |
| Cash & short-term | 5.62% |
| Bonds | 0.02% |
By sector
- Information Technology
- 28.6%
- International
- 28.0%
- Consumer Discretionary
- 7.6%
- Health Care
- 7.4%
- 9 other sectors
- 28.3%
- Information Technology
- 28.6%
- International
- 28.0%
- Consumer Discretionary
- 7.6%
- Health Care
- 7.4%
- Communication Services
- 7.2%
- Industrials
- 5.7%
- Cash
- 5.6%
- Financials
- 3.5%
- Other
- 2.7%
- Consumer Staples
- 1.2%
- Energy
- 1.1%
- Materials
- 0.8%
- Real Estate
- 0.4%
How it has done
ANEFX share class · total returns with dividends reinvested
Volatility over the last 12 months: 21.59%. Past returns are a record, not a forecast.
The 21 share classes hold the same portfolio
| Share class | Expense ratio | 1 year | 3 years | 5 years | Worst fall |
|---|---|---|---|---|---|
| 0.72% | +55.94% | +126.87% | +91.69% | -10.45% | |
| 1.49% | +54.70% | +121.75% | +84.54% | -10.55% | |
| 1.49% | +54.69% | +121.70% | +84.46% | -10.54% | |
| 1.05% | +55.40% | +124.65% | +88.62% | -10.49% | |
| 0.75% | +55.87% | +126.72% | +91.47% | -10.43% | |
| 0.45% | +56.32% | +128.69% | +94.37% | -10.39% | |
| 1.48% | +54.75% | +121.67% | +84.51% | -10.55% | |
| 0.78% | +55.84% | +126.44% | +91.14% | -10.45% | |
| 0.75% | +55.88% | +126.60% | +91.33% | -10.45% | |
| 1.52% | +54.65% | +121.42% | +84.10% | -10.55% | |
| 1.00% | +55.46% | +124.95% | +89.04% | -10.47% | |
| 0.83% | +56.10% | +127.72% | +92.98% | -10.41% | |
| 0.51% | +56.25% | +128.40% | +93.82% | -10.41% | |
| 0.40% | +56.40% | +129.01% | +94.87% | -10.39% | |
| 1.20% | +55.12% | +123.60% | +87.17% | -10.50% | |
| 0.55% | +56.14% | +127.98% | +93.38% | -10.41% | |
| 0.40% | +56.39% | +128.98% | +94.81% | -10.38% | |
| 0.78% | +56.20% | +128.15% | +93.51% | -10.42% | |
| 0.73% | +56.27% | +128.49% | +94.05% | -10.39% | |
| 0.51% | +56.25% | +128.35% | +93.79% | -10.41% | |
| 0.45% | +56.31% | +128.69% | +94.30% | -10.40% |
These classes hold the same portfolio, so the 10.77pp spread over 5 years is the cost difference between them — roughly 2.15pp a year — not a difference in what they own.
Fees & fund details
New Economy Fund is an actively managed global equity fund.
- Asset class
- Equity
- Region
- Global
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.40% – 1.52%· ANEFX 0.72%
- Portfolio turnover
- 36.00% a year · as of 2026 Q1
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.
14 new· the largest 8
20 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-05-31
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 | 82.6% |
| Floating rate | 17.4% |
Share of the fund's debt value in each maturity band, shortest first.
| 5-10y | 100.0% |
Based on what filers reported; a filer that never reported a flag also reads as none.
Understand how this fund fits with the rest.
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