STATE FARM MUTUAL AUTOMOBILE INSURANCE CO
"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. Buying this fund's new positions the day each filing went public, over 28 quarters, returned +3.6% per quarter versus +1.6% from owning every 13F stock, beating that baseline in 60.7% of quarters (excess t = 2.22, statistically significant). Caveat: across all 5,072 funds we tested, past performance shows near-zero persistence (rank correlation −0.018) — with thousands of funds, some will look significant by chance alone.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 107 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| CAT | $15.5B | | HOLD |
| LLY | $12.9B | | HOLD |
| JNJ | $8.0B | | HOLD |
| AAPL | $6.8B | | HOLD |
| ITW | $5.7B | | HOLD |
| 0QNI.L | $5.5B | | HOLD |
| NUE | $5.4B | | HOLD |
| WMT | $4.4B | | HOLD |
| KLAC | $4.2B | | HOLD |
| XONA.DE | $4.2B | | HOLD |
| MSFT | $3.9B | | HOLD |
| GOOGL | $3.9B | | HOLD |
| ADM | $3.6B | | HOLD |
| APD | $3.5B | | HOLD |
| GLW | $3.4B | | HOLD |
| INTC | $3.4B | | TRIM −10% |
| WFC | $3.3B | | HOLD |
| VMC | $2.8B | | HOLD |
| PG | $2.3B | | HOLD |
| CVX | $2.2B | | HOLD |
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.