GENERATION INVESTMENT MANAGEMENT LLP
"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 27 quarters, returned +5.1% per quarter — versus +2.8% per quarter from simply owning every 13F stock. It beat that baseline in only 59.3% of quarters (excess t = 1.05, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 29 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| MSFT | $1.7B | | ADD |
| DHR | $1.4B | | TRIM |
| AMZN | $1.1B | | ADD |
| MELI | $791M | | HOLD |
| GOOGL | $585M | | TRIM |
| WST | $562M | | ADD |
| WDAY | $543M | | HOLD |
| STE | $510M | | ADD |
| TRMB | $508M | | ADD |
| V | $458M | | ADD |
| TMO | $380M | | TRIM |
| INTU | $356M | | NEW |
| COO | $329M | | ADD |
| EFX | $320M | | ADD |
| NTNX | $285M | | ADD |
| MSCI | $271M | | ADD |
| SCHW | $258M | | TRIM |
| MCO | $160M | | ADD |
| SPOT | $159M | | HOLD |
| RELY | $121M | | HOLD |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
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.