13F
中
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Swedbank AB

13F equity value
$95.1B
Positions
684
Top 10 concentration
37.4%
Quarters / total new picks
19 / 760
13F equity value over time
$0M$52B$103B202120222023202420252026

"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.

Negative 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. Buying this fund's new positions the day each filing went public, over 19 quarters, returned -0.9% per quarter versus +1.8% from simply owning every 13F stock — it beat that baseline in only 52.6% of quarters (excess t = -2.28). Copying it would have systematically underperformed the simplest possible strategy.

Avg 2Q excess
-5.3%
t-stat
-2.28
Quarterly win rate
53%
Annualized excess
-13.7%
$1 → follow vs universe
$0.69 vs $1.33
Cumulative return: $1 invested in new picks vs universe
1.00 20210630: universe 1.08020210930: universe 0.96920211231: universe 0.82520220331: universe 0.88620220630: universe 0.82120220930: universe 0.88120221231: universe 0.81920230331: universe 0.86320230630: universe 0.83220230930: universe 0.94420231231: universe 0.98620240331: universe 1.00820240630: universe 1.10020240930: universe 1.09120241231: universe 1.01820250331: universe 1.11020250630: universe 1.14420250930: universe 1.28720251231: universe 1.331 20210630: follow 1.09120210930: follow 0.94120211231: follow 0.60320220331: follow 0.68320220630: follow 0.61620220930: follow 0.66320221231: follow 0.56820230331: follow 0.59420230630: follow 0.57520230930: follow 0.67020231231: follow 0.72220240331: follow 0.59020240630: follow 0.64320240930: follow 0.56020241231: follow 0.53520250331: follow 0.59820250630: follow 0.55620250930: follow 0.65620251231: follow 0.691 0.49 0.96 1.44 20212022202320242025 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 684 · 2026 Q1

Ticker Value Weight QoQ
NVDA $7.6B
8.0%
HOLD
MSFT $5.6B
5.9%
ADD
AAPL $4.9B
5.2%
ADD
AVGO $3.8B
4.0%
HOLD
AMZN $3.3B
3.5%
HOLD
GOOG $2.9B
3.1%
TRIM
GOOGL $2.7B
2.9%
HOLD
META $1.8B
1.9%
TRIM
LLY $1.5B
1.6%
TRIM
JPM $1.4B
1.4%
TRIM
ADI $1.1B
1.2%
TRIM
C $1.1B
1.2%
TRIM
AMAT $970M
1.0%
TRIM
KLAC $939M
1.0%
TRIM
PLD $912M
1.0%
TRIM
MA $879M
0.9%
TRIM
MCK $870M
0.9%
ADD
MRK $853M
0.9%
TRIM
V $840M
0.9%
TRIM
ANET $792M
0.8%
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

AMCRASTSCNPCSVEATESIFLSFROGFSSFTAIGNRCHEILEVIMTSIRYNSAIASFMSNDKSTRLTEVATSEMUNFIVIAVXENEYETI

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.