13F
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KWMG, LLC

13F equity value
$1.2B
Positions
147
Top 10 concentration
30.2%
Quarters / total new picks
25 / 246
13F equity value over time
$0M$599M$1B2017201820192020202120222023202420252026

"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 +3.5% per quarter — versus +2.1% per quarter from simply owning every 13F stock. It beat that baseline in only 64.0% of quarters (excess t = 0.57, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+1.6%
t-stat
0.57
Quarterly win rate
64%
Annualized excess
+3.6%
$1 → follow vs universe
$1.88 vs $1.53
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190331: universe 0.97520190930: universe 1.04820191231: universe 0.84620200331: universe 1.02020200630: universe 1.12620201231: universe 1.17820210331: universe 1.18820210630: universe 1.28320210930: universe 1.15220220331: universe 1.23720220630: universe 1.14620221231: universe 1.06420230331: universe 1.12120231231: universe 1.17120240331: universe 1.19820240630: universe 1.30620240930: universe 1.29520241231: universe 1.20920250331: universe 1.31820250630: universe 1.35920250930: universe 1.529 20180331: follow 0.95620180630: follow 0.91620180930: follow 0.98820181231: follow 1.00320190331: follow 0.98620190930: follow 1.09420191231: follow 0.69420200331: follow 0.85720200630: follow 0.86420201231: follow 0.99520210331: follow 1.19820210630: follow 1.28820210930: follow 1.12820220331: follow 1.26020220630: follow 1.02120221231: follow 1.10420230331: follow 1.14820231231: follow 1.23820240331: follow 1.47820240630: follow 1.65020240930: follow 1.70820241231: follow 1.61720250331: follow 1.59420250630: follow 1.55320250930: follow 1.877 0.64 1.33 2.03 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 147 · 2026 Q1

Ticker Value Weight QoQ
VEA $64M
5.3%
HOLD
XLK $40M
3.3%
ADD
VOE $38M
3.2%
HOLD
VOT $37M
3.1%
ADD
DFAS $35M
2.9%
ADD
TIP $33M
2.7%
ADD
BND $32M
2.6%
ADD
QQQ $29M
2.4%
HOLD
IVW $28M
2.4%
ADD
VWO $27M
2.3%
ADD
IVE $26M
2.2%
ADD
HYG $24M
2.0%
ADD
BSV $23M
1.9%
ADD
VNQ $23M
1.9%
HOLD
VCSH $22M
1.8%
ADD
XLV $20M
1.7%
ADD
VYMI $20M
1.7%
HOLD
MINT $20M
1.7%
ADD
STX $19M
1.6%
TRIM
STIP $18M
1.5%
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

FTECSCHDSCHFSPYG

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.