13F
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LYRICAL ASSET MANAGEMENT LP

13F equity value
$6.6B
Positions
39
Top 10 concentration
52.5%
Quarters / total new picks
24 / 41
13F equity value over time
$0M$4B$9B2017201820192020202120222023202420252026

"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 24 quarters, returned +0.3% per quarter — versus +1.7% per quarter from simply owning every 13F stock. It beat that baseline in only 37.5% of quarters (excess t = -0.04, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-0.1%
t-stat
-0.04
Quarterly win rate
38%
Annualized excess
-6.9%
$1 → follow vs universe
$0.90 vs $1.35
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120181231: universe 1.03020190331: universe 1.01220190630: universe 1.08820191231: universe 0.87820200331: universe 1.05820200630: universe 1.16920200930: universe 1.43320210331: universe 1.44620210630: universe 1.56220210930: universe 1.40220211231: universe 1.19320220331: universe 1.28120220630: universe 1.18720220930: universe 1.27520221231: universe 1.18420230630: universe 1.14120231231: universe 1.19320240331: universe 1.21920240930: universe 1.20920241231: universe 1.12820250630: universe 1.16420250930: universe 1.30920251231: universe 1.354 20180331: follow 0.92420181231: follow 0.78920190331: follow 0.72420190630: follow 0.91420191231: follow 0.78320200331: follow 0.92220200630: follow 0.84820200930: follow 0.73620210331: follow 0.82820210630: follow 0.85920210930: follow 0.98720211231: follow 0.87020220331: follow 1.05020220630: follow 0.97220220930: follow 0.99420221231: follow 0.88020230630: follow 0.96820231231: follow 1.19820240331: follow 1.09320240930: follow 1.09020241231: follow 1.00920250630: follow 1.00020250930: follow 0.95620251231: follow 0.902 0.67 1.18 1.69 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 39 · 2026 Q1

Ticker Value Weight QoQ
FLEX $456M
7.0%
TRIM
JCI $412M
6.3%
TRIM
NRG $407M
6.2%
TRIM
AER $357M
5.4%
TRIM
EXPE $344M
5.3%
TRIM
EBAY $318M
4.9%
TRIM
HCA $316M
4.8%
TRIM
AMP $297M
4.5%
TRIM
FFIV $274M
4.2%
TRIM
NTAP $259M
4.0%
TRIM
UBER $239M
3.6%
TRIM
CI $200M
3.0%
TRIM
SNX $199M
3.0%
TRIM
NXPI $184M
2.8%
ADD
ARW $182M
2.8%
TRIM
CPAY $180M
2.8%
TRIM
FIS $172M
2.6%
TRIM
WCC $166M
2.5%
TRIM
SSNC $157M
2.4%
TRIM
GEN $150M
2.3%
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

ANRSPSONY

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.