13F
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TCTC Holdings, LLC

13F equity value
$3.5B
Positions
220
Top 10 concentration
46.5%
Quarters / total new picks
28 / 654
13F equity value over time
$0M$2B$4B2017201820192020202120222023202420252026

"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 28 quarters, returned +1.9% per quarter — versus +1.7% per quarter from simply owning every 13F stock. It beat that baseline in only 60.7% of quarters (excess t = -0.56, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-1.2%
t-stat
-0.56
Quarterly win rate
61%
Annualized excess
+0.4%
$1 → follow vs universe
$1.48 vs $1.44
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920180930: universe 1.00320181231: universe 0.99220190331: universe 0.97520190930: universe 1.04820191231: universe 0.84620200630: universe 0.93420200930: universe 1.14620201231: universe 1.19820210331: universe 1.20920210630: universe 1.30620210930: universe 1.17220211231: universe 0.99720220331: universe 1.07120220630: universe 0.99220220930: universe 1.06620221231: universe 0.99020230331: universe 1.04320230630: universe 1.00520230930: universe 1.14120231231: universe 1.19220240331: universe 1.21920240630: universe 1.33020241231: universe 1.24120250331: universe 1.35320250630: universe 1.39620251231: universe 1.444 20180331: follow 0.86420180630: follow 0.70920180930: follow 0.74720181231: follow 0.76620190331: follow 0.75520190930: follow 0.88220191231: follow 0.81020200630: follow 0.87920200930: follow 1.11420201231: follow 1.25020210331: follow 1.27720210630: follow 1.30420210930: follow 1.21020211231: follow 1.06220220331: follow 1.12320220630: follow 1.10520220930: follow 1.14920221231: follow 1.14520230331: follow 1.22120230630: follow 1.18920230930: follow 1.26820231231: follow 1.36620240331: follow 1.38220240630: follow 1.74320241231: follow 1.70220250331: follow 1.75720250630: follow 1.55220251231: follow 1.480 0.65 1.28 1.90 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 220 · 2026 Q1

Ticker Value Weight QoQ
DINO $769M
21.9%
HOLD
MSFT $126M
3.6%
HOLD
JPM $114M
3.3%
HOLD
BRK/B $112M
3.2%
HOLD
WM $105M
3.0%
HOLD
AFL $89M
2.5%
HOLD
IBM $86M
2.4%
HOLD
CB $78M
2.2%
HOLD
GOOG $78M
2.2%
HOLD
AAPL $77M
2.2%
HOLD
WMB $65M
1.8%
HOLD
LIN $64M
1.8%
HOLD
UBER $62M
1.8%
HOLD
NVS $60M
1.7%
HOLD
BAC $53M
1.5%
HOLD
IWM $49M
1.4%
HOLD
RNR $45M
1.3%
HOLD
FCX $44M
1.3%
HOLD
AMZN $40M
1.1%
HOLD
ORI $39M
1.1%
HOLD

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

None.

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.