13F
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Legato Capital Management LLC

13F equity value
$1.1B
Positions
726
Top 10 concentration
11.5%
Quarters / total new picks
29 / 990
13F equity value over time
$0M$581M$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 29 quarters, returned -0.5% per quarter — versus +3.1% per quarter from simply owning every 13F stock. It beat that baseline in only 37.9% of quarters (excess t = -1.10, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-3.3%
t-stat
-1.10
Quarterly win rate
38%
Annualized excess
-16.6%
$1 → follow vs universe
$0.66 vs $2.13
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120181231: universe 0.91120190331: universe 0.89620190630: universe 0.96320190930: universe 1.03520191231: universe 0.83520200331: universe 1.00720200630: universe 1.11220200930: universe 1.36420201231: universe 1.42620210331: universe 1.43920210630: universe 1.55420211231: universe 1.32320220331: universe 1.42020220630: universe 1.31620220930: universe 1.41320221231: universe 1.31220230331: universe 1.38320230630: universe 1.33320230930: universe 1.51320231231: universe 1.58120240331: universe 1.61720240630: universe 1.76320240930: universe 1.74820241231: universe 1.63220250331: universe 1.77920250630: universe 1.83520250930: universe 2.06320251231: universe 2.134 20180630: follow 0.81020181231: follow 0.60520190331: follow 0.55220190630: follow 0.57220190930: follow 0.60920191231: follow 0.58620200331: follow 0.55320200630: follow 0.59920200930: follow 0.62520201231: follow 0.68520210331: follow 0.46320210630: follow 0.50420211231: follow 0.39920220331: follow 0.36420220630: follow 0.35220220930: follow 0.44120221231: follow 0.42120230331: follow 0.43920230630: follow 0.42320230930: follow 0.52120231231: follow 0.54520240331: follow 0.59020240630: follow 0.62720240930: follow 0.59720241231: follow 0.51620250331: follow 0.53220250630: follow 0.58720250930: follow 0.65520251231: follow 0.658 0.32 1.31 2.31 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 726 · 2026 Q1

Ticker Value Weight QoQ
AAPL $15M
1.4%
ADD
AVGO $15M
1.4%
ADD
NVDA $14M
1.3%
TRIM
SNEX $14M
1.2%
ADD
VSEC $11M
1.0%
TRIM
GOOGL $9M
0.9%
TRIM
STRL $9M
0.8%
ADD
BGC $8M
0.8%
HOLD
AMZN $8M
0.7%
TRIM
MSFT $8M
0.7%
TRIM
MOD $8M
0.7%
ADD
PLUS $7M
0.7%
ADD
LINC $7M
0.6%
ADD
UFPT $7M
0.6%
HOLD
INSM $6M
0.6%
HOLD
WINA $6M
0.6%
HOLD
ADI $6M
0.6%
ADD
TSLA $6M
0.5%
ADD
AEIS $5M
0.5%
TRIM
DJCO $5M
0.5%
TRIM

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

AMATASBBPOPCACCCALYCAVACCLCHEFCMCCORTCPFCVGIDANDINODLXDNTHDSGXECHOEGHTFBPFORMFRPTGAPGRCHEHLKALVLIILINDLPTH

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.