MAINSTAY CAPITAL MANAGEMENT LLC /ADV
"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 32 quarters, returned +3.0% per quarter — versus +2.7% per quarter from simply owning every 13F stock. It beat that baseline in only 46.9% of quarters (excess t = 1.47, 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 143 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| SLV | $133M | | ADD |
| IAU | $131M | | ADD |
| GDE | $125M | | HOLD |
| SAMT | $115M | | ADD |
| FRDM | $100M | | ADD |
| SPYG | $89M | | ADD |
| CGDV | $81M | | ADD |
| TDIV | $64M | | TRIM |
| CHAT | $62M | | ADD |
| VLUE | $38M | | NEW |
| QQQM | $37M | | TRIM |
| SIL | $29M | | ADD |
| GDX | $29M | | ADD |
| PPA | $26M | | NEW |
| SILJ | $19M | | ADD |
| GDXJ | $18M | | ADD |
| GLD | $17M | | ADD |
| GLTR | $12M | | NEW |
| PLTM | $7M | | ADD |
| LRCX | $7M | | 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.