Qube Research & Technologies 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 32 quarters, returned +1.9% per quarter — versus +1.6% per quarter from simply owning every 13F stock. It beat that baseline in only 53.1% of quarters (excess t = 1.44, 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 2619 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| AMZN | $1.1B | | ADD +59% |
| AAPL | $1.1B | | TRIM −34% |
| SPY | $988M | | NEW |
| CVX | $941M | | ADD ×2.8 |
| SNDK | $931M | | TRIM −52% |
| MU | $871M | | TRIM −66% |
| JPM | $840M | | ADD +4% |
| GS | $729M | | ADD ×4.4 |
| NVDA | $678M | | ADD +66% |
| INTC | $662M | | NEW |
| QQQ | $654M | | NEW |
| AMD | $631M | | ADD ×556.4 |
| WFC | $631M | | ADD ×2.4 |
| C | $602M | | ADD +35% |
| MSFT | $587M | | TRIM −35% |
| WDC | $585M | | NEW |
| UNH | $584M | | NEW |
| WBD | $579M | | ADD +42% |
| XONA.DE | $560M | | NEW |
| CRM | $544M | | ADD ×27.8 |
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.