NULC vs DEMZ overlap
NULC and DEMZ overlap 25.4% by weight, across 22 shared holdings.
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Top shared holdings
| Holding | NULC | DEMZ | Overlap |
|---|---|---|---|
| Nvidia Corp.NVDA | 8.10% | 4.70% | 4.70% |
| Microsoft Corp.MSFT | 3.63% | 4.73% | 3.63% |
| META Platforms-aMETA | 2.95% | 3.81% | 2.95% |
| ADV Micro DeviceAMD | 2.55% | 4.90% | 2.55% |
| Costco WholesaleCOST | 1.68% | 3.72% | 1.68% |
| LAM ResearchLRCX | 1.47% | 5.56% | 1.47% |
| Danaher Corp.DHR | 1.15% | 1.54% | 1.15% |
| IBMIBM | 1.10% | 1.29% | 1.10% |
| Salesforce Inc.CRM | 1.02% | 0.97% | 0.97% |
| Synopsys Inc.SNPS | 0.76% | 1.62% | 0.76% |
| Moody's Corp.MCO | 0.70% | 1.19% | 0.70% |
| Cadence DesignCDNS | 0.69% | 1.62% | 0.69% |
| Agilent Tech Inc.A | 0.57% | 1.03% | 0.57% |
| Netflix Inc.NFLX | 0.65% | 0.45% | 0.45% |
| Automatic DataADP | 0.41% | 1.97% | 0.41% |
Overlap by weight adds up the smaller weight of each holding the funds share, so 100% means identical portfolios. Long securities only: derivatives and cash vehicles are left out. Sources: NULC, SEC Form N-PORT, July 31, 2026; DEMZ, SEC Form N-PORT, June 30, 2026.
Largest institutions holding both
| Firm | NULC | DEMZ |
|---|---|---|
| Osaic Holdings, Inc. | $436K | $1.3M |
| Susquehanna International Group, LLP | $646K | $715K |
This compares who owns the funds, not what the funds hold. From SEC Form 13F, for managers with $100M+ in US securities.
Who owns them: NULC institutional holders, DEMZ institutional holders.
Frequently asked questions
How much do NULC and DEMZ overlap?
25.4% by weight, with 22 holdings in common, using holdings for NULC as of July 31, 2026 and DEMZ as of June 30, 2026. The largest shared position is NVDA.
Do institutions hold both NULC and DEMZ?
2 Form 13F filers report positions in both, out of 46 that report either one.
How is overlap by weight worked out?
For each holding the two funds share, take the smaller of the two weights, then add those up. Identical portfolios score 100%.