ARMSTRONG ADVISORY GROUP, INC
"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. Buying this fund's new positions the day each filing went public, over 10 quarters, returned +6.4% per quarter versus +4.0% from owning every 13F stock, beating that baseline in 70.0% of quarters (excess t = 2.07, statistically significant). Caveat: across all 5,072 funds we tested, past performance shows near-zero persistence (rank correlation −0.018) — with thousands of funds, some will look significant by chance alone.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 958 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| IVV | $277M | | ADD |
| IEI | $129M | | ADD |
| VBIL | $93M | | ADD |
| SCHP | $91M | | ADD |
| VGT | $89M | | TRIM |
| SCHK | $78M | | HOLD |
| BND | $62M | | TRIM |
| VGSH | $39M | | ADD |
| VOX | $34M | | HOLD |
| VHT | $32M | | TRIM |
| XLY | $31M | | TRIM |
| EWZ | $28M | | TRIM |
| XLI | $25M | | TRIM |
| SPY | $23M | | HOLD |
| SPHQ | $22M | | ADD |
| RSP | $22M | | ADD |
| AAPL | $20M | | TRIM |
| SPYV | $18M | | NEW |
| XLF | $17M | | TRIM |
| XLP | $16M | | TRIM |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
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.