13F
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TIMUCUAN ASSET MANAGEMENT INC/FL

13F equity value
$2.7B
Positions
28
Top 10 concentration
72.5%
Quarters / total new picks
18 / 37
13F equity value over time
$0M$2B$3B2017201820192020202120222023202420252026

"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 18 quarters, returned +1.4% per quarter — versus +0.9% per quarter from simply owning every 13F stock. It beat that baseline in only 55.6% of quarters (excess t = 1.17, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+3.5%
t-stat
1.17
Quarterly win rate
56%
Annualized excess
-2.2%
$1 → follow vs universe
$0.98 vs $1.08
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 1.00720191231: universe 0.81220200331: universe 0.97920210331: universe 0.98820210630: universe 1.06720211231: universe 0.90820220331: universe 0.97520220630: universe 0.90320230331: universe 0.95220240630: universe 1.03820240930: universe 1.02920241231: universe 0.96020250331: universe 1.04720251231: universe 1.083 20180630: follow 0.91820180930: follow 1.01620181231: follow 1.09620190331: follow 1.08720190630: follow 1.29520191231: follow 0.91420200331: follow 1.00620210331: follow 1.09320210630: follow 1.17820211231: follow 0.88720220331: follow 0.91120220630: follow 0.70920230331: follow 0.76220240630: follow 0.84020240930: follow 0.91820241231: follow 0.91620250331: follow 1.27720251231: follow 0.980 0.65 1.03 1.40 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 28 · 2026 Q1

Ticker Value Weight QoQ
SCHW $277M
10.2%
TRIM
IBP $219M
8.1%
HOLD
SGI $217M
8.0%
TRIM
ADI $216M
8.0%
TRIM
THO $204M
7.5%
HOLD
PGR $181M
6.7%
HOLD
AXP $170M
6.3%
HOLD
BRK/B $146M
5.4%
HOLD
ABG $139M
5.1%
HOLD
FND $131M
4.8%
HOLD
BRK/A $118M
4.3%
TRIM
ANET $113M
4.2%
HOLD
MC $86M
3.2%
ADD
NVR $75M
2.8%
HOLD
KNSL $62M
2.3%
NEW
GOOS $19M
0.7%
TRIM
PATK $16M
0.6%
ADD
LKFN $12M
0.4%
ADD
CLVT $6M
0.2%
HOLD
BUR $5M
0.2%
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

KNSL

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.