United Super Pty Ltd in its capacity as Trustee for the Cons
"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 anyway. Buying this fund's new positions the day each filing went public, over 29 quarters, returned +1.2% per quarter — versus +3.2% per quarter from simply owning every 13F stock. It beat that baseline in only 48.3% of quarters (excess t = -0.17, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 185 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| NVDA | $327M | | ADD |
| AMZN | $306M | | TRIM |
| GOOGL | $258M | | TRIM |
| C | $240M | | ADD |
| AAPL | $237M | | ADD |
| MSFT | $236M | | TRIM |
| META | $140M | | HOLD |
| LIN | $97M | | ADD |
| AVGO | $93M | | ADD |
| MA | $82M | | ADD |
| V | $81M | | ADD |
| MAR | $78M | | TRIM |
| LRCX | $71M | | TRIM |
| ABT | $68M | | ADD |
| CSCO | $67M | | HOLD |
| JPM | $67M | | ADD |
| TMO | $67M | | ADD |
| VZ | $61M | | TRIM |
| MRK | $60M | | TRIM |
| ADBE | $58M | | ADD |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q1
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.