13F
中
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First Western Trust Bank

13F equity value
$2.0B
Positions
205
Top 10 concentration
80.8%
Quarters / total new picks
14 / 79
13F equity value over time
$0M$1B$2B20222023202420252026

"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 14 quarters, returned +10.6% per quarter — versus +2.2% per quarter from simply owning every 13F stock. It beat that baseline in only 64.3% of quarters (excess t = 1.55, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+11.8%
t-stat
1.55
Quarterly win rate
64%
Annualized excess
+32.5%
$1 → follow vs universe
$3.32 vs $1.32
Cumulative return: $1 invested in new picks vs universe
1.00 20220630: universe 0.92620220930: universe 0.99520221231: universe 0.92420230331: universe 0.97420230630: universe 0.93920231231: universe 0.98120240331: universe 1.00320240630: universe 1.09420240930: universe 1.08520241231: universe 1.01220250331: universe 1.10420250630: universe 1.13820250930: universe 1.28020251231: universe 1.324 20220630: follow 1.05020220930: follow 0.96020221231: follow 0.84920230331: follow 0.96720230630: follow 1.02420231231: follow 1.09520240331: follow 1.12120240630: follow 1.98620240930: follow 1.95920241231: follow 1.97620250331: follow 2.07320250630: follow 2.13120250930: follow 2.80120251231: follow 3.320 0.78 2.18 3.59 2022202320242025 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 205 · 2026 Q1

Ticker Value Weight QoQ
SYK $992M
50.1%
TRIM
VOO $135M
6.8%
TRIM
IWR $101M
5.1%
TRIM
SPY $81M
4.1%
ADD
RSP $66M
3.3%
ADD
VEA $60M
3.0%
ADD
IWM $59M
3.0%
HOLD
VTI $43M
2.2%
ADD
EEM $34M
1.7%
ADD
AAPL $30M
1.5%
HOLD
WWD $21M
1.1%
TRIM
GOOGL $19M
0.9%
HOLD
MSFT $18M
0.9%
TRIM
IJH $14M
0.7%
ADD
JPM $12M
0.6%
TRIM
COST $11M
0.5%
HOLD
NVDA $10M
0.5%
HOLD
V $9M
0.5%
HOLD
VTWO $9M
0.5%
ADD
EFA $8M
0.4%
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

AMLPHYGIBHHIBHIKRLOWLRCXPSXSCHHSNDKTRGPVO

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.