The Institutional U.S. Equity Portfolio
Actively managed U.S. stock fund
As of its 2026 Q2 report, The Institutional U.S. Equity Portfolio held 1,074 positions with $3.18B in net assets. Its ten largest holdings made up 37.7% of the fund. The HCIGX share class costs 0.17% a year. Over the 12 months to May 2026, HCIGX returned 22.6%, with dividends reinvested. In 2026 Q2 it added 71 new positions and exited 60.
The investment objective of The Institutional U.S. Equity Portfolio is to provide capital appreciation,
The fund is managed by multiple specialist managers using either active stock-picking or passive index-tracking approaches, with weightings between the two varying from 0% to 100% of assets. It invests at least 80% in U.S. equities of any capitalization, including real estate investment trusts and operating companies, with up to 20% in non-U.S. securities and up to 20% in income-producing securities such as bonds and high-yield debt. Managers may use options, futures, and swaps to hedge risks or adjust exposures, including writing covered calls and puts on individual securities and indexes. Because the fund may shift between active and passive management approaches without constraint, its performance relative to any benchmark index may vary significantly.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
SS INST TREAS PLUS MM FUN | 15.09% | $480.04M | — | — |
Vanguard European Stock Index Fund | 5.75% | $182.97M | — | — |
2.83% | $89.87M | 449.1K | $200.09 | |
Vanguard Tax Managed Fund FTSE Developed Markets ETF | 2.65% | $84.14M | — | — |
2.64% | $83.98M | 225.1K | $373.02 | |
AAPLAPPLE INC. | 2.61% | $82.94M | 286.6K | $289.36 |
SPDR Series Trust - SPDR S&P Homebuilders ETF | 1.82% | $57.78M | — | — |
AMZNAMAZON.COM, INC. | 1.52% | $48.29M | 202.6K | $238.34 |
TPLXXState Street Institutional Investment Trust: State Street Institutional Treasury Plus Money Market Fund; Trust | 1.46% | $46.37M | — | — |
GOOGLALPHABET INC. | 1.39% | $44.20M | 123.7K | $357.37 |
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.
The 200 largest of 1,074 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 | 66.99% |
| Cash & short-term | 16.55% |
| Other | 14.31% |
| Derivatives | -0.21% |
The outer band is exposure held short — written against the portfolio rather than part of it, which is why it sits outside the ring and why the two are never netted into one figure.
Derivatives are shown at market value, not notional exposure.
By sector
- Information Technology
- 19.2%
- Cash
- 16.8%
- Other
- 12.9%
- Financials
- 8.1%
- 10 other sectors
- 43.0%
- Information Technology
- 19.2%
- Cash
- 16.8%
- Other
- 12.9%
- Financials
- 8.1%
- Industrials
- 7.0%
- Health Care
- 6.4%
- Real Estate
- 6.2%
- Consumer Discretionary
- 5.5%
- Communication Services
- 4.8%
- Consumer Staples
- 4.1%
- Utilities
- 3.2%
- International
- 3.1%
- Energy
- 1.6%
- Materials
- 1.1%
How it has done
HCIGX share class · total returns with dividends reinvested
Volatility over the last 12 months: 11.86%. 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.
Fees & fund details
The Institutional U.S. Equity Portfolio is an actively managed U.S. equity fund. 21% of HCIGX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 97% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.17%· HCIGX 0.17%
- Portfolio turnover
- 62.00% 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.
71 new· the largest 8
60 exited· the largest 8
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-06-30
Based on what filers reported; a filer that never reported a flag also reads as none.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
Understand how this fund fits with the rest.
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