ACADIAN ASSET MANAGEMENT LLC
"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.
13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.
We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 51 quarters, returned +2.1% per quarter — versus +2.0% per quarter from simply owning every 13F stock. It beat that baseline in only 52.9% of quarters (excess t = 0.95, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 1987 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| AAPL | $4.6B | | ADD +4% |
| NVDA | $3.9B | | ADD +5% |
| GOOGL | $2.2B | | TRIM −26% |
| AMZN | $2.0B | | ADD +38% |
| MSFT | $1.8B | | TRIM −3% |
| BNS | $1.6B | | ADD +22% |
| AMAT | $1.4B | | TRIM −8% |
| MU | $1.3B | | TRIM −25% |
| CM | $1.1B | | ADD +42% |
| META | $1.1B | | ADD +42% |
| COST | $1.1B | | ADD +40% |
| AVGO | $1.1B | | ADD +3% |
| KLAC | $1.0B | | TRIM −29% |
| GOOG | $1.0B | | TRIM −13% |
| 0QNI.L | $998M | | TRIM −17% |
| PEP | $913M | | ADD +20% |
| LRCX | $906M | | TRIM −30% |
| BP | $852M | | ADD +29% |
| C | $839M | | ADD +51% |
| CL | $834M | | ADD +15% |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
Method & Limitations
Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry is the first trading session after the actual SEC filing deadline plus a 2-day buffer. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.