13F
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Banque Cantonale Vaudoise

13F equity value
$2.7B
Positions
875
Top 10 concentration
34.5%
Quarters / total new picks
22 / 851
13F equity value over time
$0M$1B$3B20192020202120222023202420252026

"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 22 quarters, returned +4.6% per quarter — versus +4.2% per quarter from simply owning every 13F stock. It beat that baseline in only 50.0% of quarters (excess t = 0.00, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+0.0%
t-stat
0.00
Quarterly win rate
50%
Annualized excess
-0.5%
$1 → follow vs universe
$2.20 vs $2.25
Cumulative return: $1 invested in new picks vs universe
1.00 20200331: universe 1.20620200630: universe 1.33220200930: universe 1.63320201231: universe 1.70820210331: universe 1.72320210630: universe 1.86120210930: universe 1.67020211231: universe 1.42120220331: universe 1.52620220630: universe 1.41420220930: universe 1.51920221231: universe 1.41120230331: universe 1.48620230630: universe 1.43320230930: universe 1.62620231231: universe 1.69920240331: universe 1.73820240630: universe 1.89520240930: universe 1.87920250630: universe 1.93820250930: universe 2.17920251231: universe 2.255 20200331: follow 1.19520200630: follow 1.30120200930: follow 1.87920201231: follow 1.79020210331: follow 1.87320210630: follow 2.07220210930: follow 1.51720211231: follow 1.26120220331: follow 1.34320220630: follow 1.22420220930: follow 1.33220221231: follow 1.30520230331: follow 1.28820230630: follow 1.24420230930: follow 1.41920231231: follow 1.71520240331: follow 1.64020240630: follow 1.82020240930: follow 1.89020250630: follow 1.89420250930: follow 2.08920251231: follow 2.199 0.92 1.68 2.43 202020212022202320242025 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 875 · 2026 Q1

Ticker Value Weight QoQ
UBS $273M
10.3%
ADD
NVDA $110M
4.1%
ADD
AAPL $86M
3.2%
TRIM
MSFT $83M
3.1%
ADD
ALC $83M
3.1%
ADD
GOOGL $73M
2.8%
HOLD
AVGO $68M
2.6%
HOLD
AMRZ $51M
1.9%
ADD
AMZN $49M
1.8%
TRIM
V $40M
1.5%
TRIM
LOGI $34M
1.3%
ADD
META $26M
1.0%
ADD
JPM $26M
1.0%
ADD
GOOG $25M
1.0%
HOLD
LLY $25M
0.9%
ADD
TSLA $22M
0.8%
TRIM
MBB $21M
0.8%
TRIM
ABBV $20M
0.8%
HOLD
CSCO $20M
0.8%
TRIM
CAT $20M
0.7%
TRIM

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

ABNBADTAEEAESAJGASTSATOAZZBAXBBDBEAMBGBLDRBRBVNCCLCDWCELHCGNXCHRWCINFCRMLCVEDASHDGDHIDKNGDLODOCNDPZ

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.