13F
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Affinity Asset Advisors, LLC

13F equity value
$1.7B
Positions
95
Top 10 concentration
42.4%
Quarters / total new picks
20 / 136
13F equity value over time
$0M$853M$2B2020202120222023202420252026

"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.

Not significant Verdict

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 20 quarters, returned +4.4% per quarter — versus +1.8% per quarter from simply owning every 13F stock. It beat that baseline in only 45.0% of quarters (excess t = 0.73, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+5.1%
t-stat
0.73
Quarterly win rate
45%
Annualized excess
+1.5%
$1 → follow vs universe
$1.44 vs $1.34
Cumulative return: $1 invested in new picks vs universe
1.00 20210331: universe 1.00920210630: universe 1.09020210930: universe 0.97820211231: universe 0.83220220331: universe 0.89420220630: universe 0.82820220930: universe 0.88920221231: universe 0.82620230331: universe 0.87020230630: universe 0.83920230930: universe 0.95220231231: universe 0.99520240331: universe 1.01720240630: universe 1.11020240930: universe 1.10020241231: universe 1.02720250331: universe 1.11920250630: universe 1.15520250930: universe 1.29820251231: universe 1.343 20210331: follow 0.88120210630: follow 0.72420210930: follow 0.64420211231: follow 0.39920220331: follow 0.56620220630: follow 0.52120220930: follow 0.50720221231: follow 0.50920230331: follow 0.75720230630: follow 0.76820230930: follow 0.98120231231: follow 0.77820240331: follow 0.82320240630: follow 0.79520240930: follow 0.70320241231: follow 0.58120250331: follow 0.78620250630: follow 1.10120250930: follow 1.21020251231: follow 1.442 0.37 0.96 1.56 20212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 95 · 2026 Q1

Ticker Value Weight QoQ
APGE $108M
6.3%
ADD
XENE $97M
5.7%
ADD
ERAS $87M
5.1%
ADD
INSM $78M
4.6%
ADD
ROIV $78M
4.5%
ADD
SYRE $65M
3.8%
TRIM
CNTA $56M
3.3%
ADD
PRAX $55M
3.2%
TRIM
ANAB $52M
3.1%
ADD
ALKS $48M
2.8%
ADD
CYTK $46M
2.7%
TRIM
ABVX $45M
2.6%
TRIM
TEVA $42M
2.5%
HOLD
ACLX $42M
2.4%
TRIM
NUVL $31M
1.8%
TRIM
TERN $30M
1.7%
ADD
DNTH $29M
1.7%
ADD
LXEO $29M
1.7%
ADD
COGT $29M
1.7%
ADD
MDGL $29M
1.7%
ADD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

ALECANROCORTCRSPDTILELVNKRROLENZRLAYTYRA

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 47 days after quarter-end — the first day the public could act on the filing. 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.