13F
中
← All fund report cards

MIDDLETON & CO INC/MA

13F equity value
$877M
Positions
164
Top 10 concentration
39.6%
Quarters / total new picks
30 / 118
13F equity value over time
$0M$513M$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 30 quarters, returned +2.1% per quarter — versus +3.2% per quarter from simply owning every 13F stock. It beat that baseline in only 43.3% of quarters (excess t = -0.65, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-1.8%
t-stat
-0.65
Quarterly win rate
43%
Annualized excess
-5.9%
$1 → follow vs universe
$1.51 vs $2.28
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320190331: universe 0.98520190630: universe 1.05920190930: universe 1.13920191231: universe 0.91920200331: universe 1.10820200630: universe 1.22420200930: universe 1.50120201231: universe 1.56920210331: universe 1.58320210630: universe 1.71020210930: universe 1.53520211231: universe 1.30620220331: universe 1.40220220930: universe 1.50620221231: universe 1.39920230331: universe 1.47420230630: universe 1.42120230930: universe 1.61320231231: universe 1.68620240331: universe 1.72320240630: universe 1.88020240930: universe 1.86420241231: universe 1.73920250331: universe 1.89620250630: universe 1.95620250930: universe 2.19920251231: universe 2.275 20180331: follow 0.94120180630: follow 0.96920180930: follow 0.98820190331: follow 1.07120190630: follow 1.08920190930: follow 1.16320191231: follow 0.88220200331: follow 0.97720200630: follow 1.05320200930: follow 1.26520201231: follow 1.49320210331: follow 1.57620210630: follow 1.79720210930: follow 1.74820211231: follow 1.65920220331: follow 1.67520220930: follow 1.74620221231: follow 1.74320230331: follow 1.29020230630: follow 1.47220230930: follow 1.52620231231: follow 1.61820240331: follow 1.72420240630: follow 2.00520240930: follow 1.96220241231: follow 1.95520250331: follow 1.78620250630: follow 1.83420250930: follow 1.96820251231: follow 1.512 0.81 1.63 2.46 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 164 · 2026 Q1

Ticker Value Weight QoQ
GOOGL $60M
6.8%
TRIM
AAPL $57M
6.5%
HOLD
AMZN $51M
5.8%
HOLD
AVGO $40M
4.5%
HOLD
IVV $32M
3.6%
HOLD
COST $24M
2.8%
HOLD
V $21M
2.4%
HOLD
MSFT $21M
2.4%
HOLD
JPM $21M
2.4%
HOLD
XOM $20M
2.2%
HOLD
ORLY $19M
2.1%
HOLD
ABBV $17M
1.9%
HOLD
PANW $16M
1.8%
ADD
NEE $16M
1.8%
TRIM
MRK $15M
1.7%
TRIM
IEF $13M
1.5%
ADD
DHR $13M
1.5%
HOLD
NVDA $13M
1.5%
ADD
EQIX $12M
1.4%
HOLD
LLY $12M
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

APHAVDVBSXEPDVLO

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.