Return Attribution — Saudi Arabian Monetary Authority
← Portfolio Analysis
Clone backtest (value-weighted, one-quarter signal lag): each position's contribution = its portfolio weight × next-quarter return. Contribution sums equal the segment return of the clone.
Saudi Arabian Monetary Authority (13F portfolio cloned at quarter-end weights) delivered a +8.40% return over the 2026-Q2 → latest period. The clone return is the sum of each position's contribution — portfolio weight times next-quarter price return.
Top drivers in 2026-Q2 → latest: GOOGL (+3.09%), PLTR (+1.36%), META (+1.12%). Biggest drags: MU (-0.32%), SMH (-0.21%), XLU (-0.17%). Across all 17 segmented periods, 20 stocks made a positive cumulative contribution and 14 subtracted from performance.
This attribution is a diagnostic tool, not a trading signal. The clone uses end-of-quarter holdings (45+ days after filing, so stale by design), applies quarter-end prices only, and ignores intra-quarter trades, shorts, and derivatives that 13F cannot show.
2026-Q2 → latest segment return
+8.4%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| GOOGL |
1.9% |
+162.0% |
+3.09% |
| PLTR |
2.1% |
+65.2% |
+1.36% |
| META |
4.0% |
+28.3% |
+1.12% |
| MSFT |
2.4% |
+41.0% |
+0.99% |
| NVDA |
4.2% |
+19.0% |
+0.81% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| MU |
5.7% |
-5.5% |
-0.32% |
| SMH |
4.4% |
-4.7% |
-0.21% |
| XLU |
1.8% |
-9.2% |
-0.17% |
| AMAT |
0.5% |
-28.1% |
-0.15% |
| KLAC |
0.4% |
-35.4% |
-0.13% |
2026-Q1 → 2026-Q2 segment return
+18.69%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| MU |
3.2% |
+236.3% |
+7.6% |
| SMH |
4.9% |
+71.1% |
+3.47% |
| AMD |
1.1% |
+182.0% |
+2.04% |
| XLK |
2.4% |
+43.4% |
+1.04% |
| QQQ |
3.2% |
+27.6% |
+0.89% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| PLTR |
3.7% |
-20.3% |
-0.75% |
| XLE |
5.6% |
-13.3% |
-0.75% |
| NFLX |
1.4% |
-25.3% |
-0.35% |
| T |
1.0% |
-28.6% |
-0.29% |
| BSX |
0.8% |
-32.0% |
-0.25% |
2025-Q4 → 2026-Q1 segment return
+0.76%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
7.2% |
+37.0% |
+2.67% |
| MU |
4.4% |
+19.7% |
+0.86% |
| SMH |
8.1% |
+6.5% |
+0.52% |
| XLU |
4.9% |
+7.5% |
+0.37% |
| EPD |
1.7% |
+18.0% |
+0.31% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| PLTR |
8.0% |
-17.1% |
-1.36% |
| META |
8.3% |
-12.4% |
-1.02% |
| BSX |
1.9% |
-34.2% |
-0.66% |
| QQQ |
6.0% |
-6.0% |
-0.37% |
| QCOM |
1.4% |
-24.7% |
-0.36% |
2025-Q3 → 2025-Q4 segment return
+1.89%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| MU |
2.6% |
+71.4% |
+1.86% |
| SMH |
7.5% |
+10.3% |
+0.77% |
| SLV |
1.0% |
+52.0% |
+0.52% |
| ALB |
0.6% |
+74.4% |
+0.46% |
| AMD |
1.2% |
+32.9% |
+0.41% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| META |
9.4% |
-10.2% |
-0.96% |
| FISV |
1.2% |
-47.9% |
-0.59% |
| NFLX |
2.4% |
-21.5% |
-0.51% |
| BABA |
2.3% |
-18.3% |
-0.42% |
| T |
1.5% |
-12.0% |
-0.18% |
2025-Q2 → 2025-Q3 segment return
+7.61%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| PLTR |
6.7% |
+32.8% |
+2.19% |
| SMH |
6.8% |
+17.0% |
+1.17% |
| BABA |
1.6% |
+57.9% |
+0.91% |
| MU |
2.1% |
+35.8% |
+0.74% |
| QQQ |
5.9% |
+8.8% |
+0.52% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| FISV |
1.8% |
-25.2% |
-0.45% |
| NFLX |
2.8% |
-11.0% |
-0.31% |
| BSX |
2.4% |
-9.1% |
-0.22% |
| AMT |
1.3% |
-12.2% |
-0.16% |
| CI |
1.3% |
-12.4% |
-0.16% |
2025-Q1 → 2025-Q2 segment return
+11.18%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| NVDA |
5.5% |
+46.5% |
+2.57% |
| MSFT |
5.5% |
+33.0% |
+1.82% |
| AVGO |
1.6% |
+65.7% |
+1.02% |
| META |
2.6% |
+28.8% |
+0.75% |
| AMZN |
3.8% |
+16.0% |
+0.6% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| AAPL |
7.0% |
-7.1% |
-0.5% |
| UNH |
1.0% |
-40.5% |
-0.41% |
| XOM |
1.1% |
-9.3% |
-0.1% |
| CVX |
0.6% |
-14.7% |
-0.09% |
| ABBV |
0.8% |
-10.6% |
-0.08% |
2024-Q4 → 2025-Q1 segment return
-1.28%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
19.2% |
+9.1% |
+1.75% |
| XLU |
11.4% |
+4.2% |
+0.48% |
| VTV |
12.7% |
+2.0% |
+0.26% |
| META |
18.3% |
-2.2% |
-0.39% |
| SPY |
11.8% |
-4.6% |
-0.54% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| SMH |
14.0% |
-12.7% |
-1.78% |
| QQQ |
12.7% |
-8.3% |
-1.05% |
| SPY |
11.8% |
-4.6% |
-0.54% |
| META |
18.3% |
-2.2% |
-0.39% |
| VTV |
12.7% |
+2.0% |
+0.26% |
2024-Q3 → 2024-Q4 segment return
+0.72%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| QQQ |
12.4% |
+4.7% |
+0.59% |
| META |
18.5% |
+2.3% |
+0.43% |
| SPY |
11.7% |
+2.2% |
+0.26% |
| SMH |
14.3% |
-0.9% |
-0.13% |
| XLE |
18.3% |
-2.3% |
-0.43% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
18.3% |
-2.3% |
-0.43% |
| SMH |
14.3% |
-0.9% |
-0.13% |
| SPY |
11.7% |
+2.2% |
+0.26% |
| META |
18.5% |
+2.3% |
+0.43% |
| QQQ |
12.4% |
+4.7% |
+0.59% |
2024-Q2 → 2024-Q3 segment return
+1.38%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| META |
17.0% |
+13.3% |
+2.27% |
| SPY |
11.6% |
+5.3% |
+0.62% |
| QQQ |
12.8% |
+1.9% |
+0.24% |
| XLE |
19.9% |
-3.8% |
-0.75% |
| SMH |
15.8% |
-6.2% |
-0.99% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| SMH |
15.8% |
-6.2% |
-0.99% |
| XLE |
19.9% |
-3.8% |
-0.75% |
| QQQ |
12.8% |
+1.9% |
+0.24% |
| SPY |
11.6% |
+5.3% |
+0.62% |
| META |
17.0% |
+13.3% |
+2.27% |
2024-Q1 → 2024-Q2 segment return
+3.61%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| SMH |
14.2% |
+15.9% |
+2.26% |
| QQQ |
12.3% |
+7.9% |
+0.97% |
| META |
17.0% |
+3.8% |
+0.64% |
| SPY |
11.5% |
+4.1% |
+0.47% |
| XLE |
21.4% |
-3.4% |
-0.72% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
21.4% |
-3.4% |
-0.72% |
| SPY |
11.5% |
+4.1% |
+0.47% |
| META |
17.0% |
+3.8% |
+0.64% |
| QQQ |
12.3% |
+7.9% |
+0.97% |
| SMH |
14.2% |
+15.9% |
+2.26% |
2023-Q4 → 2024-Q1 segment return
+14.13%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| META |
14.4% |
+37.6% |
+5.4% |
| SMH |
12.8% |
+28.6% |
+3.66% |
| XLE |
22.0% |
+12.5% |
+2.75% |
| SPY |
12.2% |
+10.0% |
+1.22% |
| QQQ |
13.1% |
+8.4% |
+1.1% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| QQQ |
13.1% |
+8.4% |
+1.1% |
| SPY |
12.2% |
+10.0% |
+1.22% |
| XLE |
22.0% |
+12.5% |
+2.75% |
| SMH |
12.8% |
+28.6% |
+3.66% |
| META |
14.4% |
+37.6% |
+5.4% |
2023-Q3 → 2023-Q4 segment return
-3.56%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
49.9% |
-7.1% |
-3.56% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
49.9% |
-7.1% |
-3.56% |
2023-Q2 → 2023-Q3 segment return
+5.25%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
46.1% |
+11.4% |
+5.25% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
46.1% |
+11.4% |
+5.25% |
2023-Q1 → 2023-Q2 segment return
-0.88%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
46.1% |
-1.9% |
-0.88% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
46.1% |
-1.9% |
-0.88% |
2022-Q4 → 2023-Q1 segment return
-1.5%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
27.0% |
-5.5% |
-1.5% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
27.0% |
-5.5% |
-1.5% |
2021-Q1 → 2021-Q2 segment return
+4.81%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
48.9% |
+9.8% |
+4.81% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| XLE |
48.9% |
+9.8% |
+4.81% |
2020-Q1 → 2020-Q3 segment return
+16.15%
Top contributors
| Symbol | Weight | Return | Contrib |
|---|
| SPY |
50.2% |
+32.2% |
+16.15% |
Biggest drags
| Symbol | Weight | Return | Contrib |
|---|
| SPY |
50.2% |
+32.2% |
+16.15% |
Cumulative Contribution (all segments)