Phoenix Financial Ltd.
"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 25 quarters, returned +1.9% per quarter — versus +3.0% per quarter from simply owning every 13F stock. It beat that baseline in only 40.0% of quarters (excess t = -1.76, 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 482 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| TEVA | $1.3B | | ADD |
| TSEM | $595M | | TRIM |
| XLI | $456M | | TRIM |
| AMZN | $426M | | ADD |
| IXN | $400M | | NEW |
| RSP | $397M | | ADD |
| IXJ | $349M | | ADD |
| NVDA | $344M | | ADD |
| GOOG | $316M | | ADD |
| MSFT | $277M | | ADD |
| NVMI | $250M | | ADD |
| XLV | $224M | | ADD |
| VONV | $221M | | HOLD |
| ESLT | $213M | | NEW |
| AAPL | $197M | | TRIM |
| EXE | $197M | | ADD |
| ACWI | $193M | | HOLD |
| EMR | $173M | | ADD |
| MCHI | $158M | | ADD |
| IYF | $141M | | 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.