13F
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Rokos Capital Management LLP

13F equity value
$5.6B
Positions
127
Top 10 concentration
45.5%
Quarters / total new picks
24 / 387
13F equity value over time
$0M$4B$8B201820192020202120222023202420252026

"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 24 quarters, returned +3.2% per quarter — versus +3.0% per quarter from simply owning every 13F stock. It beat that baseline in only 62.5% of quarters (excess t = 0.85, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+2.2%
t-stat
0.85
Quarterly win rate
63%
Annualized excess
+0.3%
$1 → follow vs universe
$1.90 vs $1.87
Cumulative return: $1 invested in new picks vs universe
1.00 20190331: universe 0.98320200630: universe 1.08620200930: universe 1.33120201231: universe 1.39220210331: universe 1.40520210630: universe 1.51720210930: universe 1.36220211231: universe 1.15920220331: universe 1.24420220630: universe 1.15320220930: universe 1.23820221231: universe 1.15020230331: universe 1.21220230630: universe 1.16820230930: universe 1.32620231231: universe 1.38520240331: universe 1.41620240630: universe 1.54520240930: universe 1.53220241231: universe 1.43020250331: universe 1.55920250630: universe 1.60720250930: universe 1.80820251231: universe 1.870 20190331: follow 1.04620200630: follow 1.06120200930: follow 1.13120201231: follow 1.07620210331: follow 1.05420210630: follow 1.16920210930: follow 1.02620211231: follow 0.82120220331: follow 0.93020220630: follow 0.79720220930: follow 0.90120221231: follow 0.84620230331: follow 0.85420230630: follow 0.84220230930: follow 1.00120231231: follow 1.06120240331: follow 1.01720240630: follow 1.17820240930: follow 1.24520241231: follow 1.20320250331: follow 1.32420250630: follow 1.45020250930: follow 1.70720251231: follow 1.899 0.73 1.39 2.05 2019202020212022202320242025 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 127 · 2026 Q1

Ticker Value Weight QoQ
GOOGL $941M
16.7%
TRIM
AAPL $384M
6.8%
ADD
NVDA $324M
5.8%
ADD
META $177M
3.1%
ADD
XLV $152M
2.7%
TRIM
RSP $135M
2.4%
NEW
C $120M
2.1%
HOLD
ECHO $112M
2.0%
ADD
EQT $111M
2.0%
HOLD
RTX $107M
1.9%
NEW
CRWD $104M
1.8%
ADD
EXE $95M
1.7%
HOLD
HON $94M
1.7%
NEW
XLP $91M
1.6%
ADD
LITE $81M
1.4%
TRIM
AVGO $73M
1.3%
TRIM
MU $65M
1.2%
TRIM
GEV $65M
1.1%
TRIM
GLNG $63M
1.1%
NEW
LMT $62M
1.1%
NEW

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

AAADSKAKAMATIAVAVAXTIBKRBSXCENXCOPCTVADALDBDEDYEMEESIFDXFIGFLRFLSFNFWONAGLNGGOOGGXOHALHONHOODHTO

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.