13F
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Crake Asset Management LLP

13F equity value
$2.9B
Positions
20
Top 10 concentration
86.6%
Quarters / total new picks
23 / 88
13F equity value over time
$0M$2B$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 23 quarters, returned +3.6% per quarter — versus +4.4% per quarter from simply owning every 13F stock. It beat that baseline in only 34.8% of quarters (excess t = 0.70, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+3.0%
t-stat
0.70
Quarterly win rate
35%
Annualized excess
-6.7%
$1 → follow vs universe
$1.75 vs $2.46
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 1.87920250331: universe 2.04920250630: universe 2.11320250930: universe 2.37620251231: universe 2.458 20200331: follow 1.34620200630: follow 1.53020200930: follow 1.87620201231: follow 1.40920210331: follow 1.30620210630: follow 1.26320210930: follow 1.07920211231: follow 0.95620220331: follow 1.21020220630: follow 1.11120220930: follow 1.04020221231: follow 0.91020230331: follow 0.91120230630: follow 1.00920230930: follow 1.11620231231: follow 1.15620240331: follow 1.06020240630: follow 1.05220240930: follow 1.00420250331: follow 1.27220250630: follow 1.24820250930: follow 1.54720251231: follow 1.751 0.84 1.75 2.65 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 20 · 2026 Q1

Ticker Value Weight QoQ
FCX $545M
19.1%
TRIM
MSFT $541M
18.9%
ADD
AMZN $438M
15.3%
ADD
NVDA $245M
8.6%
TRIM
AVGO $233M
8.1%
NEW
KRE $114M
4.0%
NEW
LUV $110M
3.8%
ADD
GOOG $94M
3.3%
ADD
META $80M
2.8%
TRIM
DHI $79M
2.8%
NEW
BAC $72M
2.5%
ADD
MU $65M
2.3%
NEW
NFLX $64M
2.2%
ADD
UNH $41M
1.5%
NEW
JPM $38M
1.3%
NEW
CRM $32M
1.1%
NEW
DIS $27M
0.9%
TRIM
C $22M
0.8%
NEW
TMUS $17M
0.6%
TRIM
PDD $6M
0.2%
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

AVGOCCRMDHIJPMKREMUUNH

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.