BANK OF AMERICA CORP /DE/
"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. Buying this fund's new positions the day each filing went public, over 27 quarters, returned +12.2% per quarter versus +2.0% from owning every 13F stock, beating that baseline in 66.7% of quarters (excess t = 2.39, statistically significant). Caveat: across all 5,072 funds we tested, past performance shows near-zero persistence (rank correlation −0.018) — with thousands of funds, some will look significant by chance alone.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 5689 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| NVDA | $33.3B | | ADD |
| AAPL | $30.6B | | TRIM |
| MSFT | $26.2B | | TRIM |
| VTV | $25.8B | | TRIM |
| VUG | $23.9B | | ADD |
| SPY | $21.0B | | ADD |
| GOOGL | $19.8B | | HOLD |
| JPM | $19.3B | | ADD |
| IEFA | $18.4B | | TRIM |
| AVGO | $18.2B | | HOLD |
| AMZN | $17.5B | | HOLD |
| VOO | $16.4B | | HOLD |
| IEMG | $15.3B | | ADD |
| IVV | $13.1B | | TRIM |
| VEA | $12.7B | | TRIM |
| META | $12.0B | | ADD |
| IWF | $11.8B | | HOLD |
| XOM | $11.6B | | TRIM |
| GOVT | $10.9B | | ADD |
| VGT | $10.5B | | HOLD |
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.