Ultra Fund
Actively managed U.S. stock fund
As of its 2026 Q2 report, Ultra Fund held 66 positions with $26.59B in net assets. Its ten largest holdings made up 64.5% of the fund. The TWCUX share class costs 0.87% a year. Over the 12 months to May 2026, TWCUX returned 26.5%, with dividends reinvested. In 2026 Q3 it added 7 new positions and exited 8.
The fund seeks long-term capital growth.
The fund invests in stocks of larger U.S. companies selected for accelerating earnings, revenue, or cash flow growth and relative price strength compared to peers. The portfolio managers employ analytical techniques to identify signs of business improvement and favor companies whose growth rates are strengthening. The fund may also invest in foreign securities meeting the same criteria and may write covered calls on portions of its holdings.
What you own
| Company | Weight | Value | Shares | Reported price |
|---|---|---|---|---|
NVDANVIDIA Corp | 15.47% | $4.11B | 20.6M | $199.57 |
AAPLApple Inc | 8.22% | $2.18B | 8.1M | $271.35 |
AMZNAmazon.com Inc | 7.68% | $2.04B | 7.7M | $265.06 |
GOOGLAlphabet Inc | 6.68% | $1.78B | 4.6M | $384.80 |
MSFTMicrosoft Corp | 5.99% | $1.59B | 3.9M | $407.78 |
GOOGAlphabet Inc | 5.76% | $1.53B | 4.0M | $381.94 |
AVGOBroadcom Inc | 4.37% | $1.16B | 2.8M | $417.43 |
TSLATesla Inc | 4.01% | $1.07B | 2.8M | $381.63 |
3.28% | $871.97M | 1.7M | $502.92 | |
3.01% | $800.38M | 1.3M | $611.91 |
Reported price is the fund's own reported value divided by its own reported shares at 2026-04-30 — not a live quote, and not what the fund paid.
All 66 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 | 99.97% |
| Cash & short-term | 0.12% |
By sector
- Information Technology
- 49.9%
- Communication Services
- 16.2%
- Consumer Discretionary
- 10.0%
- Industrials
- 6.9%
- 8 other sectors
- 16.9%
- Information Technology
- 49.9%
- Communication Services
- 16.2%
- Consumer Discretionary
- 10.0%
- Industrials
- 6.9%
- Health Care
- 5.8%
- Financials
- 5.0%
- International
- 3.6%
- Consumer Staples
- 1.2%
- Materials
- 0.5%
- Energy
- 0.3%
- Other
- 0.2%
- Cash
- 0.2%
How it has done
TWCUX share class · total returns with dividends reinvested
Volatility over the last 12 months: 17.16%. Past returns are a record, not a forecast.
Jun 2026 and Jul 2026 have been filed since the trailing figures were struck, so they are 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 |
|---|---|---|---|---|---|
| 0.87% | +26.45% | +84.59% | +80.49% | -12.92% | |
| 1.12% | +26.14% | +83.22% | +78.25% | -12.96% | |
| 0.67% | +26.70% | +85.69% | +82.31% | -12.90% | |
| 1.87% | +25.22% | +79.16% | +71.70% | -13.05% | |
| 1.37% | +25.83% | +81.86% | +76.04% | -12.99% | |
| 0.52% | +26.89% | +86.55% | +83.68% | -12.88% | |
| 0.67% | +26.71% | +85.69% | +82.31% | -12.89% | |
| 0.52% | +26.90% | +86.54% | +83.68% | -12.88% | |
| 0.00% | +27.55% | +89.59% | +88.89% | -12.80% |
These classes hold the same portfolio, so the 17.18pp spread over 5 years is the cost difference between them — roughly 3.44pp a year — not a difference in what they own.
Fees & fund details
Ultra Fund is an actively managed U.S. equity fund. 34% of TWCUX’s stock holdings are in companies whose revenue grew in the top quartile of U.S. companies over the last five fiscal years (covering 98% of the fund’s equity).
- Asset class
- Equity
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Expense ratio, by class
- 0.00% – 1.87%· TWCUX 0.87%
- Portfolio turnover
- 15.00% a year · as of 2026 Q1
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.
7 new
8 exited
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 — TWCUX, QQQ and the fund in my 401(k)?”
- “How do this fund’s ten biggest holdings stack up against each other?”
- “For my target-date fund, what’s the real stock-and-bond mix once you look through it?”