13F
中
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Journey Advisory Group, LLC

13F equity value
$1.2B
Positions
242
Top 10 concentration
31.3%
Quarters / total new picks
19 / 171
13F equity value over time
$0M$675M$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 19 quarters, returned +3.0% per quarter — versus +2.2% per quarter from simply owning every 13F stock. It beat that baseline in only 42.1% of quarters (excess t = 1.24, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+3.4%
t-stat
1.24
Quarterly win rate
42%
Annualized excess
+3.1%
$1 → follow vs universe
$1.65 vs $1.44
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 1.10020250331: universe 1.20020250630: universe 1.23720250930: universe 1.39120251231: universe 1.439 20210331: follow 1.02720210630: follow 1.05920210930: follow 0.94920211231: follow 0.80020220331: follow 0.80320220630: follow 0.79520220930: follow 0.86820221231: follow 0.90920230331: follow 0.94320230630: follow 1.02120230930: follow 1.06320231231: follow 1.05120240331: follow 1.01120240630: follow 1.02120240930: follow 1.24820250331: follow 1.29720250630: follow 1.40320250930: follow 1.55120251231: follow 1.648 0.73 1.26 1.78 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 242 · 2026 Q1

Ticker Value Weight QoQ
SGOV $64M
5.5%
ADD
PYLD $60M
5.2%
NEW
VEA $51M
4.3%
ADD
AAPL $37M
3.2%
HOLD
MSFT $33M
2.8%
HOLD
ILF $28M
2.4%
ADD
GOOGL $25M
2.1%
ADD
PG $24M
2.0%
TRIM
DBND $23M
1.9%
ADD
JPM $21M
1.8%
TRIM
SCHO $21M
1.8%
ADD
TOTL $20M
1.8%
ADD
USMV $20M
1.7%
HOLD
VGK $20M
1.7%
ADD
LLY $20M
1.7%
HOLD
IBTH $20M
1.7%
ADD
IBTI $19M
1.7%
ADD
AVGO $18M
1.5%
TRIM
IBTJ $17M
1.5%
ADD
IBTK $17M
1.4%
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

CPAIBRXMELIMLPXMOSOXYPYLD

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.