Bank of Italy
Long book
$2.21B
Q1 2026
Positions
8
Top-10 weight
100%
concentration
Last quarter
+2.1%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsBank of Italy is a concentrated fundamental stock-picker, specialised in industrials (67% of the long book), running a $2.21B US long book across 8 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: FERRARI NV, TOTALENERGIES SE, STELLANTIS NV, FERROVIAL NV, XTRACKERS MSCI USA SELE EQTY.
Over the last 9 quarters its long book ran on average 6.5pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-8.6%
Q2 2024
-0.6%
Q3 2024
-5.1%
Q4 2024
-4.6%
Q1 2025
+11.2%
Q2 2025
+0.2%
Q3 2025
-9.6%
Q4 2025
-2.9%
Q1 2026
+2.1%
Sector allocation
Industrials 67%
Energy 33%
Long book by quarter
What does Bank of own?
Q1 2026 13F13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 23, 2026 | 8 | $2.21B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 27, 2026 | 8 | $2.30B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 4, 2025 | 8 | $2.08B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 15, 2025 | 8 | $2.07B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 23, 2025 | 8 | $1.89B | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 14, 2025 | 8 | $2.01B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 10, 2024 | 8 | $2.44B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 18, 2024 | 9 | $2.64B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | Apr 30, 2024 | 10 | $3.61B | $K fixed canonical | SEC ↗ |