Hennion & Walsh Asset Management, Inc.
"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 19 quarters, returned +2.4% per quarter — versus +1.8% per quarter from simply owning every 13F stock. It beat that baseline in only 57.9% of quarters (excess t = 0.84, 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 928 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| IVV | $116M | | ADD |
| GSLC | $70M | | ADD |
| DDWM | $59M | | ADD |
| MQY | $51M | | ADD |
| VTV | $46M | | ADD |
| GSIE | $45M | | TRIM |
| ISPY | $44M | | ADD |
| XCEM | $39M | | ADD |
| IGEB | $35M | | TRIM |
| JSML | $33M | | NEW |
| MHD | $30M | | ADD |
| GOOGL | $27M | | TRIM |
| PFF | $25M | | ADD |
| NVDA | $24M | | TRIM |
| NVG | $24M | | ADD |
| RSP | $22M | | TRIM |
| NUV | $22M | | ADD |
| CELC | $21M | | TRIM |
| HYGW | $20M | | ADD |
| XNEAX | $20M | | 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.