13F
中
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E Fund Management Co., Ltd.

13F equity value
$3.4B
Positions
489
Top 10 concentration
50.5%
Quarters / total new picks
16 / 1,001
13F equity value over time
$0M$2B$3B2020202120222023202420252026

"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 16 quarters, returned +0.6% per quarter — versus +1.4% per quarter from simply owning every 13F stock. It beat that baseline in only 50.0% of quarters (excess t = -0.98, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-2.1%
t-stat
-0.98
Quarterly win rate
50%
Annualized excess
-5.8%
$1 → follow vs universe
$0.95 vs $1.19
Cumulative return: $1 invested in new picks vs universe
1.00 20210331: universe 1.00920211231: universe 0.85920220331: universe 0.92220220630: universe 0.85420220930: universe 0.91720221231: universe 0.85220230331: universe 0.89820230630: universe 0.86520230930: universe 0.98220231231: universe 1.02620240331: universe 1.05020240630: universe 1.14520240930: universe 1.13520241231: universe 1.05920250331: universe 1.15520250630: universe 1.191 20210331: follow 1.02320211231: follow 0.74020220331: follow 0.91820220630: follow 0.75320220930: follow 0.73920221231: follow 0.69220230331: follow 0.66420230630: follow 0.61520230930: follow 0.78220231231: follow 0.75220240331: follow 0.77720240630: follow 0.78520240930: follow 0.77220241231: follow 0.73420250331: follow 0.81020250630: follow 0.948 0.57 0.93 1.29 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 489 · 2026 Q1

Ticker Value Weight QoQ
PDD $469M
13.9%
NEW
NVDA $235M
7.0%
NEW
AAPL $182M
5.4%
NEW
TSM $176M
5.2%
NEW
LITE $147M
4.4%
NEW
MSFT $127M
3.8%
NEW
GOOGL $126M
3.8%
NEW
GLW $94M
2.8%
NEW
AXTI $72M
2.1%
NEW
AVGO $71M
2.1%
NEW
TSEM $61M
1.8%
NEW
MU $49M
1.5%
NEW
AMZN $48M
1.4%
NEW
GOOG $48M
1.4%
NEW
ASML $45M
1.4%
NEW
YMM $37M
1.1%
NEW
SNDK $37M
1.1%
NEW
META $36M
1.1%
NEW
INTC $36M
1.1%
NEW
TSLA $35M
1.1%
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

None.

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.