Rafferty Asset Management, LLC
"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 51 quarters, returned +1.4% per quarter — versus +2.2% per quarter from simply owning every 13F stock. It beat that baseline in only 31.4% of quarters (excess t = 0.24, 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 1133 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| MU | $3.6B | | ADD +34% |
| NVDA | $2.6B | | ADD +67% |
| AMD | $2.0B | | ADD +16% |
| AVGO | $1.7B | | ADD +56% |
| INTC | $1.6B | | ADD +26% |
| TLT | $1.5B | | TRIM −25% |
| AMAT | $1.4B | | ADD +23% |
| KLAC | $1.3B | | ADD +67% |
| MRVL | $1.2B | | TRIM −4% |
| LRCX | $1.2B | | ADD +55% |
| EWY | $1.0B | | ADD +12% |
| IWM | $1.0B | | TRIM −7% |
| AAPL | $981M | | ADD +61% |
| TSM | $957M | | ADD ×2.1 |
| TXN | $823M | | ADD +48% |
| ADI | $784M | | ADD +80% |
| MSFT | $776M | | ADD +62% |
| TER | $733M | | ADD +39% |
| NXPI | $680M | | ADD +51% |
| TSLA | $671M | | TRIM −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.