13F
中
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Aventail Capital Group, LP

13F equity value
$2.1B
Positions
169
Top 10 concentration
23.1%
Quarters / total new picks
20 / 374
13F equity value over time
$0M$1B$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.

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. Buying this fund's new positions the day each filing went public, over 20 quarters, returned +7.4% per quarter versus +1.8% from owning every 13F stock, beating that baseline in 75.0% of quarters (excess t = 2.78, 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.

Avg 2Q excess
+8.8%
t-stat
2.78
Quarterly win rate
75%
Annualized excess
+25.1%
$1 → follow vs universe
$3.88 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 1.04620210630: follow 1.29620210930: follow 1.30620211231: follow 1.47820220331: follow 1.58520220630: follow 1.76920220930: follow 1.59920221231: follow 1.49520230331: follow 1.69220230630: follow 1.67720230930: follow 1.75520231231: follow 1.91420240331: follow 1.92420240630: follow 2.24920240930: follow 2.32020241231: follow 2.38620250331: follow 2.52620250630: follow 2.71920250930: follow 3.42320251231: follow 3.881 0.76 2.48 4.19 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 169 · 2026 Q1

Ticker Value Weight QoQ
ETR $78M
3.8%
TRIM
NFG $68M
3.3%
TRIM
CNP $47M
2.3%
ADD
ATO $46M
2.2%
ADD
CNX $44M
2.1%
ADD
APA $42M
2.0%
NEW
GEV $41M
2.0%
ADD
PPL $38M
1.8%
ADD
NRG $37M
1.8%
ADD
WWD $37M
1.8%
ADD
AEE $34M
1.7%
TRIM
SO $31M
1.5%
TRIM
AEP $31M
1.5%
TRIM
PEG $30M
1.5%
TRIM
MOD $30M
1.5%
TRIM
TRGP $30M
1.4%
ADD
OVV $29M
1.4%
ADD
SRE $29M
1.4%
ADD
NXT $28M
1.3%
ADD
ATI $27M
1.3%
NEW

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

AESIAMLPAPAATIBWACCJECECGENTGFLOCIMOINVXKOSLBLIIMDUNOGPAGPPCARPTENROGROKRRXSOLSTTXOM

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.