XXEC, Inc.
"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 17 quarters, returned +1.0% per quarter — versus +0.6% per quarter from simply owning every 13F stock. It beat that baseline in only 47.1% of quarters (excess t = -0.30, not statistically significant). Its filings tell you what it bought — not what you should buy.
Quarterly compounding, invested quarters only · entry after the actual SEC deadline plus a 2-day buffer
Top 20 holdings of 23 · 2026 Q2
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| GNTX | $7.7B | | ADD ×121.5 |
| NVO | $2.9B | | ADD ×238.3 |
| HTFL | $2.5B | | ADD ×277.3 |
| OLED | $2.5B | | ADD ×587.7 |
| PAYX | $1.1B | | ADD ×3294.9 |
| BRK/B | $1.1B | | ADD ×5163.5 |
| VRSK | $993M | | ADD ×1393.7 |
| NDSN | $896M | | ADD ×1438.4 |
| XYL | $851M | | ADD ×552.8 |
| CSX | $766M | | ADD ×992.5 |
| V | $571M | | ADD ×1532.2 |
| MSFT | $511M | | ADD ×2032.5 |
| MA | $505M | | ADD ×2390.9 |
| INTU | $437M | | ADD ×2023.2 |
| MCO | $366M | | ADD ×2369.1 |
| CB | $228M | | ADD ×1481.7 |
| WCN | $165M | | NEW |
| MKC | $155M | | NEW |
| MTD | $77M | | ADD ×6776.9 |
| FICO | $33M | | ADD ×7601.7 |
QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.
New positions in 2026 Q2
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 is the first trading session after the actual SEC filing deadline plus a 2-day buffer. 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.