13F
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STATE FARM MUTUAL AUTOMOBILE INSURANCE CO

13F equity value
$126.9B
Positions
113
Top 10 concentration
48.1%
Quarters / total new picks
15 / 30
13F equity value over time
$0M$64B$127B2017201820192020202120222023202420252026

"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 15 quarters, returned +7.8% per quarter — versus +0.8% per quarter from simply owning every 13F stock. It beat that baseline in only 80.0% of quarters (excess t = 1.61, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+6.3%
t-stat
1.61
Quarterly win rate
80%
Annualized excess
+29.4%
$1 → follow vs universe
$2.78 vs $1.07
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120180930: universe 0.96320190331: universe 0.94720190630: universe 1.01820190930: universe 1.09420210331: universe 1.10420210630: universe 1.19220210930: universe 1.07020211231: universe 0.91120220331: universe 0.97820221231: universe 0.90820230930: universe 1.03120240331: universe 1.05420240630: universe 1.15020241231: universe 1.073 20180630: follow 0.98020180930: follow 1.04620190331: follow 1.04820190630: follow 1.29120190930: follow 1.39520210331: follow 1.45420210630: follow 1.45220210930: follow 1.43320211231: follow 1.61920220331: follow 1.55920221231: follow 1.39520230930: follow 1.99520240331: follow 2.50220240630: follow 2.86020241231: follow 2.777 0.84 1.96 3.09 201820192021202220232024 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 113 · 2026 Q1

Ticker Value Weight QoQ
CAT $10.3B
8.1%
TRIM
LLY $9.9B
7.8%
TRIM
JNJ $7.7B
6.1%
HOLD
AAPL $6.0B
4.7%
HOLD
ITW $5.5B
4.3%
HOLD
XOM $5.2B
4.1%
HOLD
WMT $4.8B
3.8%
HOLD
NUE $4.1B
3.2%
HOLD
MSFT $3.8B
3.0%
HOLD
ASML $3.6B
2.9%
HOLD
APD $3.4B
2.7%
HOLD
ADM $3.4B
2.7%
HOLD
WFC $3.2B
2.5%
HOLD
GOOGL $3.1B
2.4%
HOLD
CVX $2.8B
2.2%
HOLD
VMC $2.6B
2.0%
HOLD
PG $2.3B
1.8%
HOLD
KLAC $2.1B
1.6%
HOLD
ZTS $1.9B
1.5%
HOLD
GLW $1.8B
1.4%
TRIM

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

SPDWVTV

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.