MORGAN STANLEY
"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 28 quarters, returned +1.2% per quarter — versus +0.4% per quarter from simply owning every 13F stock. It beat that baseline in only 53.6% of quarters (excess t = 0.21, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 8402 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| NVDA | $71.3B | | ADD +4% |
| AAPL | $70.2B | | HOLD |
| MSFT | $47.6B | | ADD +2% |
| GOOGL | $43.1B | | HOLD |
| AMZN | $42.8B | | ADD +3% |
| AVGO | $29.9B | | ADD +4% |
| GOOG | $25.6B | | HOLD |
| SPY | $24.1B | | TRIM −20% |
| META | $22.2B | | ADD +4% |
| JPM | $22.0B | | TRIM −2% |
| MU | $21.3B | | ADD +10% |
| LLY | $19.5B | | ADD +5% |
| IVV | $18.5B | | ADD +6% |
| VOO | $17.1B | | ADD +2% |
| TSLA | $16.3B | | HOLD |
| V | $15.8B | | HOLD |
| QQQ | $15.6B | | HOLD |
| IWF | $14.8B | | HOLD |
| AMD | $14.1B | | ADD +2% |
| BRK/B | $13.3B | | HOLD |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
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 is the first trading session after the actual SEC filing deadline plus a 2-day buffer. 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.