Swedbank AB
"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 20 quarters, returned -1.5% per quarter versus +1.4% from simply owning every 13F stock — it beat that baseline in only 35.0% of quarters (excess t = -2.25). Copying it would have systematically underperformed the simplest possible strategy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 696 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| NVDA | $8.7B | | HOLD |
| AAPL | $5.9B | | ADD +4% |
| MSFT | $5.5B | | HOLD |
| AVGO | $5.0B | | ADD +6% |
| AMZN | $3.9B | | ADD +4% |
| GOOGL | $3.4B | | HOLD |
| GOOG | $3.4B | | TRIM −5% |
| MU | $2.7B | | ADD +2% |
| AMD | $2.5B | | ADD +27% |
| LLY | $2.1B | | ADD +10% |
| AMAT | $2.1B | | HOLD +2% |
| LRCX | $2.0B | | ADD +30% |
| KLAC | $1.7B | | TRIM −14% |
| META | $1.6B | | TRIM −8% |
| JPM | $1.5B | | HOLD |
| ADI | $1.5B | | ADD +9% |
| C | $1.4B | | ADD +4% |
| ANET | $1.1B | | TRIM −2% |
| PLD | $965M | | ADD +3% |
| JNJ | $921M | | ADD +24% |
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.