13F
中
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FISHMAN JAY A LTD/MI

13F equity value
$1.1B
Positions
76
Top 10 concentration
68.8%
Quarters / total new picks
25 / 104
13F equity value over time
$0M$608M$1B2017201820192020202120222023202420252026

"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 25 quarters, returned +5.0% per quarter — versus +3.4% per quarter from simply owning every 13F stock. It beat that baseline in only 56.0% of quarters (excess t = -0.75, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-2.6%
t-stat
-0.75
Quarterly win rate
56%
Annualized excess
+5.0%
$1 → follow vs universe
$2.70 vs $2.06
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120190331: universe 0.90520190630: universe 0.97320190930: universe 1.04620191231: universe 0.84420200331: universe 1.01820200630: universe 1.12420200930: universe 1.37920201231: universe 1.44220210331: universe 1.45420210630: universe 1.57120211231: universe 1.33720220331: universe 1.43520221231: universe 1.33320230630: universe 1.28520230930: universe 1.45920231231: universe 1.52420240331: universe 1.55820240630: universe 1.70020240930: universe 1.68520241231: universe 1.57320250331: universe 1.71520250630: universe 1.76920250930: universe 1.98920251231: universe 2.057 20180630: follow 0.84120190331: follow 0.71920190630: follow 0.68420190930: follow 0.79020191231: follow 0.66920200331: follow 0.72820200630: follow 0.77620200930: follow 0.91120201231: follow 1.05220210331: follow 0.99620210630: follow 1.15220211231: follow 1.02220220331: follow 1.03020221231: follow 1.01920230630: follow 1.08520230930: follow 1.21920231231: follow 1.30720240331: follow 1.41620240630: follow 1.74220240930: follow 1.73520241231: follow 1.67620250331: follow 2.41220250630: follow 2.06320250930: follow 2.65720251231: follow 2.704 0.62 1.77 2.92 20182019202020212022202320242025 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 76 · 2026 Q1

Ticker Value Weight QoQ
AAPL $228M
20.4%
TRIM
GOOGL $110M
9.8%
HOLD
AMZN $88M
7.8%
HOLD
XPO $55M
4.9%
TRIM
MSFT $55M
4.9%
HOLD
NVDA $55M
4.9%
HOLD
META $51M
4.5%
HOLD
JPM $45M
4.0%
TRIM
VRT $43M
3.9%
TRIM
BX $41M
3.6%
HOLD
V $31M
2.8%
HOLD
LLY $28M
2.5%
ADD
SYK $24M
2.2%
HOLD
QXO $24M
2.1%
ADD
RDDT $20M
1.8%
ADD
GEV $19M
1.7%
HOLD
HD $16M
1.4%
TRIM
COST $16M
1.4%
TRIM
ABBV $15M
1.3%
HOLD
TWI $15M
1.3%
HOLD

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

FITBPWRSCHW

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.