13F
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WestEnd Advisors, LLC

13F equity value
$4.1B
Positions
391
Top 10 concentration
61.9%
Quarters / total new picks
27 / 785
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 27 quarters, returned +0.1% per quarter — versus +3.9% per quarter from simply owning every 13F stock. It beat that baseline in only 29.6% of quarters (excess t = -1.53, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
-5.5%
t-stat
-1.53
Quarterly win rate
30%
Annualized excess
-17.1%
$1 → follow vs universe
$0.87 vs $2.57
Cumulative return: $1 invested in new picks vs universe
1.00 20180331: universe 1.04120180630: universe 0.95920190331: universe 0.94220190630: universe 1.01320190930: universe 1.08920200331: universe 1.31320200630: universe 1.45020200930: universe 1.77920201231: universe 1.86020210630: universe 2.00820210930: universe 1.80320211231: universe 1.53420220331: universe 1.64720220630: universe 1.52620220930: universe 1.63920221231: universe 1.52320230331: universe 1.60420230930: universe 1.82120231231: universe 1.90220240331: universe 1.94520240630: universe 2.12220240930: universe 2.10420241231: universe 1.96320250331: universe 2.14020250630: universe 2.20820250930: universe 2.48220251231: universe 2.568 20180331: follow 1.11620180630: follow 1.25820190331: follow 1.05520190630: follow 1.05320190930: follow 1.06820200331: follow 1.16720200630: follow 1.19520200930: follow 1.29820201231: follow 1.15120210630: follow 1.22220210930: follow 1.18220211231: follow 0.85120220331: follow 0.87120220630: follow 0.78620220930: follow 0.80720221231: follow 0.85920230331: follow 0.66220230930: follow 0.72920231231: follow 0.65520240331: follow 0.68520240630: follow 0.83820240930: follow 0.82820241231: follow 0.80620250331: follow 0.86520250630: follow 0.76620250930: follow 0.78720251231: follow 0.868 0.60 1.69 2.77 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 391 · 2026 Q1

Ticker Value Weight QoQ
XLK $428M
10.3%
HOLD
XLF $383M
9.3%
TRIM
XLC $315M
7.6%
HOLD
VEU $285M
6.9%
HOLD
XLV $275M
6.7%
HOLD
IEUR $270M
6.5%
ADD
XLP $232M
5.6%
ADD
IEI $143M
3.5%
ADD
IJR $117M
2.8%
ADD
VCSH $115M
2.8%
ADD
XLU $111M
2.7%
ADD
IBB $109M
2.6%
ADD
XLY $102M
2.5%
HOLD
IGM $99M
2.4%
HOLD
TLT $82M
2.0%
ADD
IEF $74M
1.8%
ADD
VCIT $59M
1.4%
ADD
NVDA $57M
1.4%
TRIM
VPL $56M
1.4%
TRIM
EEMA $55M
1.3%
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

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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.