13F holdings
CANADA PENSION PLAN INVESTMENT BOARD portfolio
Managed by . 1,680 reported positions worth $155.0B as of 2026-03-31, filed with the SEC on 2026-05-15. Parsed from the filing itself, not a reseller.
$155.0B
Book value
1,680
Positions
27%
Top 10 weight
+95
New this quarter
-386
Exited
134 days
Age today
How old this actually is
Every position on this page is a snapshot of 2026-03-31. It was already 45 days old on 2026-05-15, the day it first became public. Today it is 134 days old.
That lag is the law, not a service level — Rule 13f-1 gives managers 45 days after quarter end to file, and no product can shorten it. A fund can have sold every share below before you read this sentence. Treat it as a record of what happened, never as a position you can follow.
What changed
Positions opened and closed
Against its 2025-12-31 filing. This is the part worth reading — the holdings table below is mostly years old.
New positions (95)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| SW | SMURFIT WESTROCK PLC | $149.7M | 3,757,109 | 0.10% |
| AZN | ASTRAZENECA PLC | $128.5M | 661,545 | 0.08% |
| AHR | AMERICAN HEALTHCARE REIT INC | $106.2M | 2,251,400 | 0.07% |
| VVV | VALVOLINE INC | $48.1M | 1,428,028 | 0.03% |
| SUNB | SUNBELT RENTALS HOLDINGS INC | $45.4M | 697,931 | 0.03% |
| LINE | LINEAGE INC | $31.3M | 954,248 | 0.02% |
| AL | AIR LEASE CORP | $24.5M | 377,300 | 0.02% |
| AU | ANGLOGOLD ASHANTI PLC | $18.0M | 185,300 | 0.01% |
| UWMC | UWM HOLDINGS CORPORATION | $13.0M | 3,588,200 | 0.01% |
| FBIN | FORTUNE BRANDS INNOVATIONS I | $10.4M | 266,400 | 0.01% |
| ASO | ACADEMY SPORTS & OUTDOORS IN | $8.5M | 150,400 | 0.01% |
| ALV | AUTOLIV INC | $8.2M | 77,600 | 0.01% |
| COHR | COHERENT CORP | $8.1M | 33,803 | 0.01% |
| BURL | BURLINGTON STORES INC | $7.4M | 22,822 | 0.00% |
| CACI | CACI INTL INC | $7.0M | 12,820 | 0.00% |
| FDS | FACTSET RESH SYS INC | $6.1M | 28,140 | 0.00% |
| JKHY | HENRY JACK & ASSOC INC | $5.5M | 34,500 | 0.00% |
| EIKN | EIKON THERAPEUTICS INC | $4.0M | 379,024 | 0.00% |
| PR | PERMIAN RESOURCES CORP | $3.6M | 170,600 | 0.00% |
| SN | SHARKNINJA INC | $3.3M | 30,900 | 0.00% |
| KD | KYNDRYL HLDGS INC | $3.2M | 242,100 | 0.00% |
| PNFP | PINNACLE FINL PARTNERS INC | $3.1M | 35,485 | 0.00% |
| Z | ZILLOW GROUP INC | $3.0M | 71,400 | 0.00% |
| CIGI | COLLIERS INTL GROUP INC | $2.6M | 24,300 | 0.00% |
| KNX | KNIGHT-SWIFT TRANSN HLDGS IN | $2.5M | 43,300 | 0.00% |
Closed out (386)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| QQQ | INVESCO QQQ TR | $312.7M | 509,000 | 0.00% |
| CIVI | CIVITAS RESOURCES INC | $258.0M | 9,524,201 | 0.00% |
| NTSK | NETSKOPE INC | $157.2M | 8,960,263 | 0.00% |
| XLE | SELECT SECTOR SPDR TR | $120.7M | 2,700,000 | 0.00% |
| EXK | EXACT SCIENCES CORP | $69.6M | 685,252 | 0.00% |
| CYBR | CYBERARK SOFTWARE LTD | $56.1M | 125,695 | 0.00% |
| HR | HEALTHCARE RLTY TR | $50.6M | 2,984,111 | 0.00% |
| EMN | EASTMAN CHEM CO | $32.3M | 505,939 | 0.00% |
| PTON 0 02/15/26 | PELOTON INTERACTIVE INC | $29.6M | 29,957,000 | 0.00% |
| AKAM | AKAMAI TECHNOLOGIES INC | $27.9M | 320,010 | 0.00% |
| CMA | COMERICA INC | $23.0M | 264,600 | 0.00% |
| TDY | TELEDYNE TECHNOLOGIES INC | $18.7M | 36,561 | 0.00% |
| PINS | PINTEREST INC | $15.6M | 602,832 | 0.00% |
| THC | TENET HEALTHCARE CORP | $12.8M | 64,300 | 0.00% |
| FLG | FLAGSTAR BANK NATIONAL ASSOC | $12.0M | 953,000 | 0.00% |
| CALM | CAL MAINE FOODS INC | $11.8M | 148,700 | 0.00% |
| DAY | DAYFORCE INC | $11.2M | 162,539 | 0.00% |
| PRMB | PRIMO BRANDS CORPORATION | $11.1M | 679,000 | 0.00% |
| FSM | FORTUNA MNG CORP | $10.6M | 1,081,000 | 0.00% |
| QUBT | QUANTUM COMPUTING INC | $10.5M | 1,026,700 | 0.00% |
| CTRA | COTERRA ENERGY INC | $10.3M | 393,010 | 0.00% |
| AI | C3 AI INC | $9.0M | 670,300 | 0.00% |
| STLD | STEEL DYNAMICS INC | $8.4M | 49,475 | 0.00% |
| CGAU | CENTERRA GOLD INC | $8.2M | 571,400 | 0.00% |
| FSS | FEDERAL SIGNAL CORP | $8.0M | 73,900 | 0.00% |
Added to (699)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | $8.5B | 48,786,351 | 5.49% | +9% |
| AAPL | APPLE INC | $6.5B | 25,754,832 | 4.22% | +6% |
| MSFT | MICROSOFT CORP | $5.6B | 14,999,474 | 3.58% | +19% |
| AMZN | AMAZON COM INC | $3.9B | 18,519,822 | 2.49% | +4% |
| GOOGL | ALPHABET INC | $3.5B | 12,208,787 | 2.26% | +11% |
| GOOG | ALPHABET INC | $2.4B | 8,255,065 | 1.53% | +7% |
| META | META PLATFORMS INC | $2.4B | 4,132,946 | 1.53% | +4% |
| TSLA | TESLA INC | $2.3B | 6,059,110 | 1.45% | +20% |
| CEG | CONSTELLATION ENERGY CORP | $2.1B | 7,672,648 | 1.38% | +5330% |
| MA | MASTERCARD INCORPORATED | $1.9B | 3,899,114 | 1.26% | +5% |
| JPM | JPMORGAN CHASE & CO | $1.9B | 6,524,314 | 1.24% | +17% |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.4B | 2,991,382 | 0.92% | +4% |
| DLR | DIGITAL RLTY TR INC | $1.4B | 7,582,063 | 0.88% | +2% |
| LLY | ELI LILLY & CO | $1.3B | 1,447,591 | 0.86% | +9% |
| TMUS | T-MOBILE US INC | $1.3B | 6,062,911 | 0.82% | +5% |
Trimmed (589)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| DOW | DOW HLDGS INC | $416,917 | 10,010 | 0.00% | -100% |
| RKT | ROCKET COS INC | $165,272 | 11,598 | 0.00% | -99% |
| ENPH | ENPHASE ENERGY INC | $257,486 | 6,810 | 0.00% | -99% |
| STNE | STONECO LTD | $248,766 | 17,618 | 0.00% | -99% |
| LYB | LYONDELLBASELL INDUSTRIES NV | $1.6M | 20,310 | 0.00% | -98% |
| ECHO | ECHOSTAR CORP | $229,106 | 1,957 | 0.00% | -98% |
| FMC | FMC CORP | $346,122 | 20,100 | 0.00% | -98% |
| SHAK | SHAKE SHACK INC | $1.2M | 14,100 | 0.00% | -97% |
| UCTT | ULTRA CLEAN HLDGS INC | $223,848 | 3,600 | 0.00% | -97% |
| MICC | MAGNUM ICE CREAM CO NV | $630,558 | 42,993 | 0.00% | -97% |
| GPI | GROUP 1 AUTOMOTIVE INC | $317,405 | 960 | 0.00% | -97% |
| BB | BLACKBERRY LTD | $356,692 | 110,000 | 0.00% | -96% |
| PRIM | PRIMORIS SVCS CORP | $572,160 | 4,000 | 0.00% | -96% |
| LYFT | LYFT INC | $700,910 | 52,700 | 0.00% | -95% |
| ROYAL CARIBBEAN GROUP | ROYAL CARIBBEAN GROUP | $900,389 | 3,272 | 0.00% | -95% |
The book
Largest 150 of 1,680 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | $8.5B | 48,786,351 | 5.49% | — |
| AAPL | APPLE INC | $6.5B | 25,754,832 | 4.22% | — |
| MSFT | MICROSOFT CORP | $5.6B | 14,999,474 | 3.58% | — |
| AMZN | AMAZON COM INC | $3.9B | 18,519,822 | 2.49% | — |
| GOOGL | ALPHABET INC | $3.5B | 12,208,787 | 2.26% | — |
| BG | BUNGE GLOBAL SA | $3.3B | 26,247,358 | 2.15% | — |
| AVGO | BROADCOM INC | $3.2B | 10,292,092 | 2.05% | — |
| GOOG | ALPHABET INC | $2.4B | 8,255,065 | 1.53% | — |
| META | META PLATFORMS INC | $2.4B | 4,132,946 | 1.53% | — |
| TSLA | TESLA INC | $2.3B | 6,059,110 | 1.45% | — |
| CEG | CONSTELLATION ENERGY CORP | $2.1B | 7,672,648 | 1.38% | — |
| CNQ | CANADIAN NAT RES LTD MED TER | $2.0B | 40,281,315 | 1.27% | — |
| MA | MASTERCARD INCORPORATED | $1.9B | 3,899,114 | 1.26% | — |
| JPM | JPMORGAN CHASE & CO | $1.9B | 6,524,314 | 1.24% | — |
| RY | ROYAL BK CDA | $1.6B | 9,965,831 | 1.04% | — |
| VIK | VIKING HOLDINGS LTD | $1.5B | 20,144,744 | 0.95% | — |
| UNP | UNION PAC CORP | $1.5B | 6,084,355 | 0.95% | — |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $1.4B | 2,991,382 | 0.92% | — |
| DLR | DIGITAL RLTY TR INC | $1.4B | 7,582,063 | 0.88% | — |
| LYV | LIVE NATION ENTERTAINMENT IN | $1.3B | 8,798,835 | 0.87% | — |
| LLY | ELI LILLY & CO | $1.3B | 1,447,591 | 0.86% | — |
| TMUS | T-MOBILE US INC | $1.3B | 6,062,911 | 0.82% | — |
| EXMOC | EXXON MOBIL CORP | $1.3B | 7,431,709 | 0.81% | — |
| TD | TORONTO DOMINION BK ONT | $1.2B | 12,476,893 | 0.75% | — |
| EQIX | EQUINIX INC | $1.2B | 1,183,533 | 0.75% | — |
| LNG | CHENIERE ENERGY INC | $1.2B | 4,074,529 | 0.75% | — |
| SRAD | SPORTRADAR GROUP AG | $1.1B | 68,171,745 | 0.74% | — |
| JNJ | JOHNSON & JOHNSON | $1.1B | 4,544,422 | 0.72% | — |
| TRP | TC ENERGY CORP | $1.1B | 17,519,449 | 0.71% | — |
| LIN | LINDE PLC | $1.0B | 2,057,744 | 0.66% | — |
| SHOP | SHOPIFY INC | $986.5M | 8,312,252 | 0.64% | — |
| WMT | WALMART INC | $983.1M | 7,910,057 | 0.63% | — |
| PLTR | PALANTIR TECHNOLOGIES INC | $919.7M | 6,287,283 | 0.59% | — |
| BAC | BANK AMERICA CORP | $901.1M | 18,484,065 | 0.58% | — |
| MU | MICRON TECHNOLOGY INC | $882.2M | 2,611,344 | 0.57% | — |
| COST | COSTCO WHOLESALE CORPORATION | $873.0M | 876,126 | 0.56% | — |
| CM | CANADIAN IMPERIAL BANK OF CO | $853.4M | 9,002,513 | 0.55% | — |
| BMO | BANK MONTREAL MEDIUM | $845.2M | 6,238,876 | 0.55% | — |
| ARES | ARES MANAGEMENT CORPORATION | $830.8M | 7,614,645 | 0.54% | — |
| GE | GE AEROSPACE | $825.5M | 2,909,075 | 0.53% | — |
| NFLX | NETFLIX INC. | $816.5M | 8,492,181 | 0.53% | — |
| CSCO | CISCO SYS INC | $767.5M | 9,891,453 | 0.50% | — |
| CVX | CHEVRON CORPORATION | $752.3M | 3,636,055 | 0.49% | — |
| ENB | ENBRIDGE INC | $748.0M | 13,796,294 | 0.48% | — |
| AMAT | APPLIED MATLS INC | $719.5M | 2,105,121 | 0.46% | — |
| AEM | AGNICO EAGLE MINES LTD | $718.6M | 3,539,686 | 0.46% | — |
| AMD | ADVANCED MICRO DEVICES INC | $699.5M | 3,438,286 | 0.45% | — |
| ISRG | INTUITIVE SURGICAL INC | $690.9M | 1,498,674 | 0.45% | — |
| KO | COCA COLA CO | $690.4M | 9,078,741 | 0.45% | — |
| IWM | ISHARES TR | $689.7M | 2,781,000 | 0.44% | — |
| EQH | EQUITABLE HLDGS INC | $676.1M | 18,218,634 | 0.44% | — |
| HD | HOME DEPOT INC | $646.8M | 1,966,518 | 0.42% | — |
| BNS | BANK NOVA SCOTIA B C | $632.1M | 9,113,642 | 0.41% | — |
| PG | PROCTER & GAMBLE CO | $631.5M | 4,372,047 | 0.41% | — |
| B | BARRICK MNG CORP | $626.2M | 15,319,859 | 0.40% | — |
| LRCX | LAM RESEARCH CORP | $608.4M | 2,847,498 | 0.39% | — |
| SU | SUNCOR ENERGY INC NEW | $589.1M | 8,904,324 | 0.38% | — |
| ABBV | ABBVIE INC | $575.6M | 2,646,492 | 0.37% | — |
| SPY | STATE STR SPDR S&P 500 ETF T | $570.3M | 877,000 | 0.37% | — |
| TTE | TOTALENERGIES SE | $568.0M | 6,074,174 | 0.37% | — |
| ORCL | ORACLE CORP | $543.3M | 3,693,467 | 0.35% | — |
| GS | GOLDMAN SACHS GROUP INC | $540.4M | 638,828 | 0.35% | — |
| TXN | TEXAS INSTRS INC | $522.6M | 2,692,103 | 0.34% | — |
| UNH | UNITEDHEALTH GROUP INC | $521.6M | 1,927,492 | 0.34% | — |
| PEP | PEPSICO INC | $510.6M | 3,288,048 | 0.33% | — |
| INTC | INTEL CORP | $505.3M | 11,449,752 | 0.33% | — |
| C | CITIGROUP INC | $504.5M | 4,448,155 | 0.33% | — |
| BSX | BOSTON SCIENTIFIC CORP | $504.3M | 8,035,947 | 0.33% | — |
| PM | PHILIP MORRIS INTL INC | $498.8M | 3,016,923 | 0.32% | — |
| BN | BROOKFIELD CORP | $494.1M | 12,190,707 | 0.32% | — |
| COF | CAPITAL ONE FINL CORP | $492.0M | 2,696,879 | 0.32% | — |
| MS | MORGAN STANLEY | $491.2M | 2,984,976 | 0.32% | — |
| CRC | CALIFORNIA RES CORP | $485.0M | 7,006,895 | 0.31% | — |
| VST | VISTRA CORP | $478.6M | 3,183,593 | 0.31% | — |
| DHR | DANAHER CORP DEL | $464.2M | 2,448,500 | 0.30% | — |
| CNI | CANADIAN NATL RY CO | $462.2M | 4,490,181 | 0.30% | — |
| WAY | WAYSTAR HLDG CORP | $458.7M | 19,025,452 | 0.30% | — |
| SM | SM ENERGY COMPANY | $451.9M | 14,493,791 | 0.29% | — |
| NEE | NEXTERA ENERGY INC | $451.3M | 4,859,090 | 0.29% | — |
| MFC | MANULIFE FINL CORP | $447.6M | 12,990,620 | 0.29% | — |
| T | AT&T INC | $439.4M | 15,155,681 | 0.28% | — |
| MRK | MERCK & CO INC | $435.1M | 3,616,870 | 0.28% | — |
| CP | CANADIAN PACIFIC KANSAS CITY | $432.4M | 5,493,273 | 0.28% | — |
| PLD | PROLOGIS INC. | $432.3M | 3,270,901 | 0.28% | — |
| MDLN | MEDLINE INC | $416.4M | 9,356,746 | 0.27% | — |
| TRGP | TARGA RES CORP | $416.3M | 1,660,407 | 0.27% | — |
| WPM | WHEATON PRECIOUS METALS CORP | $412.0M | 3,138,503 | 0.27% | — |
| AMT | AMERICAN TOWER CORP | $411.9M | 2,386,605 | 0.27% | — |
| SPG | SIMON PPTY GROUP INC NEW | $411.9M | 2,208,113 | 0.27% | — |
| WFC | WELLS FARGO & CO | $411.3M | 5,166,047 | 0.27% | — |
| WELL | WELLTOWER INC | $400.8M | 2,027,043 | 0.26% | — |
| ADBE | ADOBE INC | $393.7M | 1,619,635 | 0.25% | — |
| IBM | INTERNATIONAL BUSINESS MACHS | $386.8M | 1,595,760 | 0.25% | — |
| GEV | GE VERNOVA INC | $385.6M | 441,803 | 0.25% | — |
| LMT | LOCKHEED MARTIN CORP | $373.5M | 617,920 | 0.24% | — |
| UBER | UBER TECHNOLOGIES INC | $368.1M | 5,117,947 | 0.24% | — |
| TJX | TJX COS INC NEW | $364.5M | 2,282,469 | 0.24% | — |
| VTR | VENTAS INC | $360.2M | 4,404,125 | 0.23% | — |
| ADI | ANALOG DEVICES INC | $359.9M | 1,131,214 | 0.23% | — |
| PH | PARKER-HANNIFIN CORP | $358.6M | 400,595 | 0.23% | — |
| PCG | PG&E CORP | $355.4M | 20,225,202 | 0.23% | — |
| GEHC | GE HEALTHCARE TECHNOLOGIES I | $354.4M | 4,978,835 | 0.23% | — |
| VZ | VERIZON COMMUNICATIONS INC | $353.1M | 7,033,821 | 0.23% | — |
| MCD | MCDONALDS CORP | $352.7M | 1,134,929 | 0.23% | — |
| CAT | CATERPILLAR INC | $352.4M | 497,436 | 0.23% | — |
| RNW | RENEW ENERGY GLOBAL PLC | $350.4M | 76,501,166 | 0.23% | — |
| BKNG | BOOKING HOLDINGS INC | $347.2M | 82,475 | 0.22% | — |
| STX | SEAGATE TECHNOLOGY HLDNGS PL | $346.1M | 883,574 | 0.22% | — |
| APH | AMPHENOL CORP | $342.6M | 2,711,727 | 0.22% | — |
| IQV | IQVIA HLDGS INC | $340.9M | 1,999,089 | 0.22% | — |
| SCHW | SCHWAB CHARLES CORP | $340.2M | 3,619,439 | 0.22% | — |
| CCI | CROWN CASTLE INC | $312.6M | 3,844,708 | 0.20% | — |
| ACN | ACCENTURE PLC IRELAND | $306.7M | 1,546,493 | 0.20% | — |
| UBS | UBS GROUP AG | $305.9M | 7,956,822 | 0.20% | — |
| NU | NU HLDGS LTD | $305.4M | 21,249,411 | 0.20% | — |
| CRM | SALESFORCE INC | $295.1M | 1,580,727 | 0.19% | — |
| NTR | NUTRIEN LTD | $294.6M | 3,901,406 | 0.19% | — |
| FNV | FRANCO NEV CORP | $292.8M | 1,182,118 | 0.19% | — |
| GDS | GDS HLDGS LTD | $282.2M | 7,004,083 | 0.18% | — |
| BA | BOEING CO | $281.5M | 1,414,530 | 0.18% | — |
| GILD | GILEAD SCIENCES INC | $280.0M | 2,009,256 | 0.18% | — |
| V | VISA INC | $278.1M | 920,059 | 0.18% | — |
| TMO | THERMO FISHER SCIENTIFIC INC | $276.4M | 562,420 | 0.18% | — |
| QCOM | QUALCOMM INC | $276.4M | 2,146,599 | 0.18% | — |
| MPC | MARATHON PETE CORP | $273.9M | 1,121,573 | 0.18% | — |
| GD | GENERAL DYNAMICS CORP | $273.4M | 796,499 | 0.18% | — |
| NOW | SERVICENOW INC | $269.6M | 2,578,310 | 0.17% | — |
| BLK | BLACKROCK INC | $268.5M | 279,194 | 0.17% | — |
| CCJ | CAMECO CORP | $268.4M | 2,467,381 | 0.17% | — |
| KGC | KINROSS GOLD CORP | $268.3M | 8,775,156 | 0.17% | — |
| CUBE | CUBESMART | $266.3M | 7,265,720 | 0.17% | — |
| ABT | ABBOTT LABORATORIES | $265.8M | 2,588,711 | 0.17% | — |
| ANET | ARISTA NETWORKS INC | $265.5M | 2,162,202 | 0.17% | — |
| AXP | AMERICAN EXPRESS CO | $265.0M | 876,202 | 0.17% | — |
| WCN | WASTE CONNECTIONS INC | $261.8M | 1,611,310 | 0.17% | — |
| ORLY | OREILLY AUTOMOTIVE INC | $256.0M | 2,773,581 | 0.17% | — |
| MRVL | MARVELL TECHNOLOGY INC | $255.9M | 2,583,570 | 0.17% | — |
| TECK | TECK RESOURCES LTD | $254.4M | 4,908,208 | 0.16% | — |
| OTIS | OTIS WORLDWIDE CORP | $251.3M | 3,260,413 | 0.16% | — |
| SLF | SUN LIFE FINANCIAL INC. | $250.1M | 3,991,930 | 0.16% | — |
| HONGBP | HONEYWELL INTL INC | $249.3M | 1,102,941 | 0.16% | — |
| BMY | BRISTOL-MYERS SQUIBB CO | $248.4M | 4,095,618 | 0.16% | — |
| NOC | NORTHROP GRUMMAN CORP | $248.0M | 363,568 | 0.16% | — |
| CME | CME GROUP INC | $244.0M | 826,274 | 0.16% | — |
| AMGN | AMGEN INC | $242.6M | 689,490 | 0.16% | — |
| KLAC | KLA CORP | $238.1M | 161,692 | 0.15% | — |
| CMCSA | COMCAST CORP NEW | $234.8M | 8,179,075 | 0.15% | — |
| TDG | TRANSDIGM GROUP INC | $233.5M | 201,457 | 0.15% | — |
| INTU | INTUIT | $230.5M | 533,033 | 0.15% | — |
| DIS | DISNEY WALT CO | $227.8M | 2,363,211 | 0.15% | — |
This table is the 150 largest positions by value, out of 1,680 reported. The search box only searches what is on this page — a name absent from it may still be in the filing further down the book. The full info table is here.
Rows are aggregated by CUSIP — a manager files the same security multiple times when different internal desks hold it. Tickers link to our own backtest of that asset where we cover it.
Read the original
This page was built from one document: the 2026-03-31 Form 13F info table filed by CANADA PENSION PLAN INVESTMENT BOARD (CIK 1283718, accession 0001104659-26-062533). Every other 13F site is reading the same file.
If anything here disagrees with it, the filing wins — and we would want to know. All 13F filings by this manager
What a 13F cannot show you
A 13F is a long-only equity snapshot, and the holes in it are structural. Anyone selling you this data as "what the smart money is doing" is selling you one leg of a position:
- No short positions. None, ever. A fund shown here as bullish may be net short the same name through a book you cannot see.
- No cash, bonds, FX, commodities or non-US listings. A macro fund's entire thesis can be invisible.
- No intra-quarter round trips. Bought and sold inside the same quarter means it never appears at all.
- Options are notional, not ownership. We keep puts and calls in a separate bucket rather than adding their notional into a fund's book size, which is how a $2B fund gets reported as a $20B one.
- Confidential treatment. Managers can ask the SEC to withhold a position while they build it. Those holdings are legally absent from the filing, so a "new" position may be months old.
Tested and published by IndicatorEdge · backtest grid generated 2026-06-25 · base rates recomputed 2026-07-31 · how we test
Free · no spam
Get the weekly edge report
The best-performing indicator per asset, what changed this week, and the honest caveats — straight to your inbox.