Daiwa Securities 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 anyway. Buying this fund's new positions the day each filing went public, over 51 quarters, returned +1.9% per quarter — versus +2.0% per quarter from simply owning every 13F stock. It beat that baseline in only 45.1% of quarters (excess t = 0.31, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 1126 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| NVDA | $3.9B | | ADD +45% |
| MSFT | $3.4B | | ADD +50% |
| AAPL | $2.4B | | ADD +13% |
| GOOGL | $1.8B | | TRIM −6% |
| AVGO | $1.6B | | TRIM −7% |
| AMZN | $1.5B | | TRIM −3% |
| MU | $1.4B | | TRIM −35% |
| META | $1.2B | | ADD +25% |
| GOOG | $937M | | ADD +13% |
| WELL | $925M | | TRIM −5% |
| NFLX | $889M | | ADD +46% |
| PLTR | $856M | | ADD +18% |
| DLR | $758M | | HOLD |
| PLD | $620M | | TRIM −6% |
| INTC | $533M | | ADD +99% |
| LRCX | $521M | | ADD +3% |
| TSLA | $514M | | ADD +74% |
| EQIX | $428M | | TRIM −7% |
| CCI | $356M | | ADD +7% |
| KIM | $348M | | ADD +3% |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
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 is the first trading session after the actual SEC filing deadline plus a 2-day buffer. 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.