13F
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GEORGE KAISER FAMILY FOUNDATION

13F equity value
$883M
Positions
71
Top 10 concentration
94.7%
Quarters / total new picks
24 / 106
13F equity value over time
$0M$441M$883M2017201820192020202120222023202420252026

"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 24 quarters, returned +1.9% per quarter — versus +4.0% per quarter from simply owning every 13F stock. It beat that baseline in only 41.7% of quarters (excess t = -0.71, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-3.3%
t-stat
-0.71
Quarterly win rate
42%
Annualized excess
-13.7%
$1 → follow vs universe
$1.06 vs $2.28
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120180930: universe 0.96320181231: universe 0.95320190630: universe 1.02520190930: universe 1.10220191231: universe 0.88920200331: universe 1.07220200630: universe 1.18420200930: universe 1.45220201231: universe 1.51820210331: universe 1.53220210630: universe 1.65420211231: universe 1.40820220331: universe 1.51120220630: universe 1.40020220930: universe 1.50420230331: universe 1.58520230930: universe 1.79920240331: universe 1.83920240630: universe 2.00620240930: universe 1.98920241231: universe 1.85620250331: universe 2.02420250930: universe 2.276 20180630: follow 0.86520180930: follow 0.99220181231: follow 0.93620190630: follow 0.96520190930: follow 0.96720191231: follow 1.15720200331: follow 1.42420200630: follow 1.52420200930: follow 1.87420201231: follow 1.17920210331: follow 1.26320210630: follow 1.44920211231: follow 0.97220220331: follow 1.18820220630: follow 0.80120220930: follow 0.84720230331: follow 0.91920230930: follow 1.04020240331: follow 1.01420240630: follow 1.11620240930: follow 1.32820241231: follow 1.07020250331: follow 1.10220250930: follow 1.060 0.74 1.60 2.46 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 71 · 2026 Q1

Ticker Value Weight QoQ
BOKF $431M
48.8%
HOLD
EE $262M
29.7%
HOLD
BIL $45M
5.1%
NEW
SPY $26M
2.9%
HOLD
SGOV $25M
2.9%
NEW
IWL $22M
2.4%
HOLD
ASPN $11M
1.2%
HOLD
JBL $7M
0.8%
TRIM
TDG $4M
0.4%
HOLD
INTA $4M
0.4%
ADD
FROG $4M
0.4%
TRIM
PCOR $3M
0.3%
HOLD
NOW $3M
0.3%
HOLD
TYL $3M
0.3%
ADD
TW $3M
0.3%
HOLD
DSGX $2M
0.2%
ADD
ALKT $2M
0.2%
TRIM
BOC $2M
0.2%
HOLD
TBLA $2M
0.2%
NEW
CLBT $1M
0.2%
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

BILCLBTMXCTSGOVTBLA

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.