Swedbank AB
"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 19 quarters, returned -0.9% per quarter versus +1.8% from simply owning every 13F stock — it beat that baseline in only 52.6% of quarters (excess t = -2.28). Copying it would have systematically underperformed the simplest possible strategy.
Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)
Top 20 holdings of 684 · 2026 Q1
| Ticker | Value | Weight | QoQ |
|---|---|---|---|
| NVDA | $7.6B | | HOLD |
| MSFT | $5.6B | | ADD |
| AAPL | $4.9B | | ADD |
| AVGO | $3.8B | | HOLD |
| AMZN | $3.3B | | HOLD |
| GOOG | $2.9B | | TRIM |
| GOOGL | $2.7B | | HOLD |
| META | $1.8B | | TRIM |
| LLY | $1.5B | | TRIM |
| JPM | $1.4B | | TRIM |
| ADI | $1.1B | | TRIM |
| C | $1.1B | | TRIM |
| AMAT | $970M | | TRIM |
| KLAC | $939M | | TRIM |
| PLD | $912M | | TRIM |
| MA | $879M | | TRIM |
| MCK | $870M | | ADD |
| MRK | $853M | | TRIM |
| V | $840M | | TRIM |
| ANET | $792M | | TRIM |
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.