13F
中
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Guinness Asset Management LTD

13F equity value
$5.8B
Positions
143
Top 10 concentration
40.8%
Quarters / total new picks
25 / 118
13F equity value over time
$0M$3B$6B2017201820192020202120222023202420252026

"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 +1.5% per quarter — versus +3.1% per quarter from simply owning every 13F stock. It beat that baseline in only 40.0% of quarters (excess t = 1.06, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+2.9%
t-stat
1.06
Quarterly win rate
40%
Annualized excess
-8.3%
$1 → follow vs universe
$1.23 vs $2.00
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180930: universe 1.08920181231: universe 1.07720190331: universe 1.05820190630: universe 1.13820190930: universe 1.22320191231: universe 0.98720200331: universe 1.19020200630: universe 1.31420201231: universe 1.37420210630: universe 1.48420210930: universe 1.33220220331: universe 1.43020220630: universe 1.32520220930: universe 1.42420230331: universe 1.50020230630: universe 1.44620231231: universe 1.51120240630: universe 1.64820240930: universe 1.63420241231: universe 1.52520250331: universe 1.66220250630: universe 1.71520250930: universe 1.92820251231: universe 1.994 20180331: follow 0.82020180930: follow 0.97920181231: follow 0.96220190331: follow 0.93620190630: follow 1.02120190930: follow 1.11020191231: follow 1.00420200331: follow 1.22820200630: follow 1.50020201231: follow 1.53220210630: follow 1.55820210930: follow 1.31020220331: follow 1.10220220630: follow 1.02220220930: follow 1.08620230331: follow 0.95220230630: follow 0.87620231231: follow 0.87720240630: follow 1.07620240930: follow 1.10020241231: follow 1.09320250331: follow 1.18520250630: follow 1.21020250930: follow 1.30320251231: follow 1.229 0.75 1.45 2.15 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 143 · 2026 Q1

Ticker Value Weight QoQ
JNJ $266M
4.6%
TRIM
AVGO $255M
4.4%
TRIM
ABBV $239M
4.1%
TRIM
AFL $236M
4.1%
TRIM
CME $236M
4.1%
TRIM
MDT $235M
4.0%
TRIM
MSFT $227M
3.9%
ADD
EMR $227M
3.9%
TRIM
TXN $224M
3.9%
TRIM
PEP $223M
3.9%
TRIM
CSCO $222M
3.8%
TRIM
KO $220M
3.8%
TRIM
ETN $214M
3.7%
TRIM
MDLZ $200M
3.5%
TRIM
ITW $198M
3.4%
TRIM
PG $197M
3.4%
TRIM
AJG $195M
3.4%
ADD
BLK $190M
3.3%
TRIM
PAYX $181M
3.1%
ADD
OTIS $181M
3.1%
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

EWWELL

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.