13F
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SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC

13F equity value
$2.7B
Positions
468
Top 10 concentration
21.1%
Quarters / total new picks
27 / 3,431
13F equity value over time
$0M$3B$6B201820192020202120222023202420252026

"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 27 quarters, returned +2.7% per quarter — versus +3.4% per quarter from simply owning every 13F stock. It beat that baseline in only 48.1% of quarters (excess t = -1.67, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-1.9%
t-stat
-1.67
Quarterly win rate
48%
Annualized excess
-2.9%
$1 → follow vs universe
$1.82 vs $2.18
Cumulative return: $1 invested in new picks vs universe
1.00 20180630: universe 0.92120180930: universe 0.96320181231: universe 0.95320190331: universe 0.93720190630: universe 1.00720190930: universe 1.08320191231: universe 0.87320200331: universe 1.05320200630: universe 1.16320200930: universe 1.42720201231: universe 1.49220210331: universe 1.50520210630: universe 1.62520210930: universe 1.45920211231: universe 1.24220220331: universe 1.33320221231: universe 1.23820230331: universe 1.30520230630: universe 1.25820230930: universe 1.42820231231: universe 1.49220240331: universe 1.52520240630: universe 1.66420250331: universe 1.81420250630: universe 1.87120250930: universe 2.10420251231: universe 2.176 20180630: follow 0.95820180930: follow 0.97620181231: follow 0.94720190331: follow 0.93620190630: follow 1.00020190930: follow 1.03420191231: follow 0.80720200331: follow 0.96620200630: follow 1.07420200930: follow 1.29520201231: follow 1.35820210331: follow 1.37220210630: follow 1.46320210930: follow 1.26320211231: follow 1.10320220331: follow 1.18520221231: follow 1.09020230331: follow 1.01820230630: follow 1.04820230930: follow 1.15720231231: follow 1.27320240331: follow 1.30520240630: follow 1.44420250331: follow 1.54520250630: follow 1.59820250930: follow 1.74620251231: follow 1.825 0.74 1.55 2.35 20182019202020212022202320242025 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 468 · 2026 Q1

Ticker Value Weight QoQ
MSFT $61M
2.3%
NEW
ADBE $61M
2.3%
ADD
V $60M
2.3%
NEW
NOW $57M
2.1%
NEW
ADP $57M
2.1%
ADD
MCO $57M
2.1%
ADD
CME $56M
2.1%
ADD
TFC $53M
2.0%
ADD
FAST $51M
1.9%
ADD
TDG $51M
1.9%
ADD
CM $49M
1.8%
ADD
UBER $48M
1.8%
ADD
CCJ $45M
1.7%
HOLD
PCAR $43M
1.6%
ADD
MET $36M
1.4%
NEW
ADSK $35M
1.3%
ADD
CB $34M
1.3%
TRIM
TT $33M
1.3%
ADD
KEY $31M
1.2%
NEW
VLTO $30M
1.1%
ADD

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

ADEAADTNAIRJAKAMALRSARCBARMAROWATMUAUBAURBAERBBSIBBTBFSTBHBBHFBLNDBOHBOKFBOXBSRRBTDRBTEBWXTBYRNCACCALXCBANCCB

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.