13F
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Galvin, Gaustad & Stein, LLC

13F equity value
$1.2B
Positions
251
Top 10 concentration
27.1%
Quarters / total new picks
20 / 108
13F equity value over time
$0M$640M$1B2020202120222023202420252026

"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 20 quarters, returned +0.3% per quarter — versus +1.8% per quarter from simply owning every 13F stock. It beat that baseline in only 40.0% of quarters (excess t = 0.19, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+0.8%
t-stat
0.19
Quarterly win rate
40%
Annualized excess
-6.8%
$1 → follow vs universe
$0.96 vs $1.34
Cumulative return: $1 invested in new picks vs universe
1.00 20210331: universe 1.00920210630: universe 1.09020210930: universe 0.97820211231: universe 0.83220220331: universe 0.89420220630: universe 0.82820220930: universe 0.88920221231: universe 0.82620230331: universe 0.87020230630: universe 0.83920230930: universe 0.95220231231: universe 0.99520240331: universe 1.01720240630: universe 1.11020240930: universe 1.10020241231: universe 1.02720250331: universe 1.11920250630: universe 1.15520250930: universe 1.29820251231: universe 1.343 20210331: follow 1.06320210630: follow 1.04620210930: follow 0.93320211231: follow 0.71420220331: follow 0.69720220630: follow 0.64520220930: follow 0.61520221231: follow 0.53120230331: follow 0.60020230630: follow 0.70920230930: follow 0.75620231231: follow 0.73120240331: follow 0.79020240630: follow 0.80220240930: follow 0.83320241231: follow 0.82320250331: follow 0.75020250630: follow 0.76320250930: follow 0.87020251231: follow 0.965 0.49 0.97 1.45 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 251 · 2026 Q1

Ticker Value Weight QoQ
XLK $71M
5.7%
ADD
IEFA $44M
3.5%
ADD
VEA $41M
3.3%
ADD
HCA $28M
2.3%
TRIM
SCHR $27M
2.1%
HOLD
MSFT $27M
2.1%
HOLD
VSS $26M
2.1%
HOLD
AMZN $26M
2.1%
ADD
XLC $25M
2.0%
NEW
AGG $25M
2.0%
HOLD
GE $24M
1.9%
HOLD
NVDA $24M
1.9%
ADD
AAPL $23M
1.8%
HOLD
SCHO $22M
1.7%
HOLD
XLE $21M
1.7%
ADD
JPM $20M
1.6%
TRIM
UBER $20M
1.6%
ADD
XLP $20M
1.6%
NEW
MBB $20M
1.6%
TRIM
BND $18M
1.5%
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

CHWYCOWZCRCLECHOEMXCGDXHIMXIDMOINTCJBNDKGCMUPEPRPVUPSTUSOXLBXLCXLIXLPXLUXLV

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.