13F holdings
Capula Management Ltd portfolio
Managed by . 413 reported positions worth $11.5B as of 2026-03-31, filed with the SEC on 2026-05-14. Parsed from the filing itself, not a reseller.
$11.5B
Book value
413
Positions
90%
Top 10 weight
+209
New this quarter
-113
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 44 days old on 2026-05-14, 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 (209)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| AAUC | ALLIED GOLD CORP | $43.2M | 1,002,000 | 0.38% |
| CHART INDS INC | CHART INDS INC | $34.4M | 166,320 | 0.30% |
| PEN | PENUMBRA INC | $33.4M | 101,779 | 0.29% |
| K4F | ONESTREAM INC | $25.8M | 1,074,711 | 0.22% |
| DBRG | DIGITALBRIDGE GROUP INC | $25.7M | 1,665,769 | 0.22% |
| MASI* | MASIMO CORP | $25.4M | 142,800 | 0.22% |
| IWM | ISHARES TR | $22.6M | 91,315 | 0.20% |
| CSG SYS INTL INC | CSG SYS INTL INC | $20.6M | 257,088 | 0.18% |
| SNCY | SUN CTRY AIRLS HLDGS INC | $20.1M | 1,218,670 | 0.18% |
| BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $17.4M | 12,500 | 0.15% |
| CTRA | COTERRA ENERGY INC | $14.5M | 412,352 | 0.13% |
| JAZZ 3.125 09/15/30 | JAZZ INVESTMENTS I LTD | $14.1M | 10,000 | 0.12% |
| NEE 7.375 02/15/29 | NEXTERA ENERGY INC | $13.8M | 549,593 | 0.12% |
| T86 | TRI POINTE HOMES INC | $13.7M | 294,100 | 0.12% |
| JANUS HENDERSON GROUP PL | JANUS HENDERSON GROUP PLC | $11.6M | 225,417 | 0.10% |
| PPL | PPL CORP | $11.5M | 450,000 | 0.10% |
| PKST | PEAKSTONE REALTY TRUST | $11.1M | 531,511 | 0.10% |
| WBS | WEBSTER FINL CORP | $10.1M | 145,990 | 0.09% |
| IMXI | INTERNATIONAL MONEY EXPRESS | $10.0M | 630,191 | 0.09% |
| ENHABIT INC | ENHABIT INC | $9.1M | 645,000 | 0.08% |
| EFA | ISHARES TR | $7.8M | 79,930 | 0.07% |
| LQD | ISHARES TR | $7.5M | 69,044 | 0.07% |
| XLC | SELECT SECTOR SPDR TR | $7.2M | 65,292 | 0.06% |
| HYG | ISHARES TR | $7.1M | 89,555 | 0.06% |
| FERG | FERGUSON ENTERPRISES INC | $7.1M | 30,461 | 0.06% |
Closed out (113)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| IBIT | ISHARES BITCOIN TRUST ETF | $470.7M | 9,481,233 | 0.00% |
| ETHA | ISHARES ETHEREUM TR | $207.0M | 9,227,427 | 0.00% |
| FBTC | FIDELITY WISE ORIGIN BITCOIN | $161.1M | 2,112,794 | 0.00% |
| DELL | DELL TECHNOLOGIES INC | $87.4M | 694,686 | 0.00% |
| FETH | FIDELITY ETHEREUM FD | $61.4M | 2,074,703 | 0.00% |
| EXK | EXACT SCIENCES CORP | $42.0M | 413,170 | 0.00% |
| DAY | DAYFORCE INC | $36.8M | 532,716 | 0.00% |
| CYBR | CYBERARK SOFTWARE LTD | $35.4M | 79,291 | 0.00% |
| RNAGBP | AVIDITY BIOSCIENCES INC | $28.1M | 389,566 | 0.00% |
| FYBR | FRONTIER COMMUNICATIONS PARE | $25.1M | 658,205 | 0.00% |
| SMCI | SUPER MICRO COMPUTER INC | $23.0M | 785,000 | 0.00% |
| 8ZV | ASPEN INSURANCE HOLDINGS LTD | $16.5M | 445,997 | 0.00% |
| ASTS | AST SPACEMOBILE INC | $16.2M | 223,243 | 0.00% |
| AL | AIR LEASE CORP | $15.7M | 243,831 | 0.00% |
| DLTR | DOLLAR TREE INC | $13.5M | 110,099 | 0.00% |
| SNOW | SNOWFLAKE INC | $12.7M | 57,848 | 0.00% |
| DBX 0 03/01/28 | DROPBOX INC | $12.6M | 12,500 | 0.00% |
| NGDN | NEW GOLD INC CDA | $11.9M | 1,369,532 | 0.00% |
| VRT | VERTIV HOLDINGS CO | $10.1M | 62,511 | 0.00% |
| LVS | LAS VEGAS SANDS CORP | $9.8M | 150,000 | 0.00% |
| LULU | LULULEMON ATHLETICA INC | $8.3M | 40,000 | 0.00% |
| 8QR | CONFLUENT INC | $7.5M | 247,073 | 0.00% |
| FOX | FOX CORP | $6.4M | 97,942 | 0.00% |
| SO 7.125 12/15/28 A | SOUTHERN CO | $5.6M | 221,990 | 0.00% |
| EMB | ISHARES TR | $4.1M | 42,482 | 0.00% |
Added to (110)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| IVV | ISHARES TR | $5.9B | 9,094,984 | 51.82% | +1375% |
| SPY | STATE STR SPDR S&P 500 ETF T | $4.0B | 6,159,222 | 34.94% | +9% |
| CWAN | CLEARWATER ANALYTICS HLDGS I | $63.3M | 2,677,322 | 0.55% | +2053% |
| NVDA | NVIDIA CORPORATION | $58.7M | 336,778 | 0.51% | +39% |
| AM6 | AMICUS THERAPEUTIC | $46.2M | 3,191,610 | 0.40% | +10539% |
| LBRDK | LIBERTY BROADBAND CORP | $42.2M | 838,294 | 0.37% | +498% |
| NSC | NORFOLK SOUTHN CORP | $41.5M | 144,749 | 0.36% | +189% |
| KVUE | KENVUE INC | $38.7M | 2,247,472 | 0.34% | +138% |
| SDA | SEALED AIR CORP NEW | $38.6M | 918,694 | 0.34% | +62% |
| FXI | ISHARES TR | $37.5M | 1,044,191 | 0.33% | +173% |
| HO1 | HOLOGIC INC | $35.2M | 465,126 | 0.31% | +137% |
| AES | AES CORP | $34.9M | 2,474,180 | 0.30% | +21705% |
| EA* | ELECTRONIC ARTS INC | $30.2M | 148,098 | 0.26% | +12% |
| EVRG 4.5 12/15/27 | EVERGY INC | $20.3M | 15,000 | 0.18% | +50% |
| MSFT | MICROSOFT CORP | $19.3M | 52,158 | 0.17% | +1283% |
Trimmed (91)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| COIN | COINBASE GLOBAL INC | $19,556 | 112 | 0.00% | -100% |
| AMGN | AMGEN INC | $21,463 | 61 | 0.00% | -100% |
| IBM | INTERNATIONAL BUSINESS MACHS | $157,069 | 648 | 0.00% | -100% |
| PYPL | PAYPAL HLDGS INC | $80,781 | 1,786 | 0.00% | -100% |
| SMH | VANECK ETF TRUST | $18,787 | 49 | 0.00% | -100% |
| UBER | UBER TECHNOLOGIES INC | $358,427 | 4,983 | 0.00% | -100% |
| VOO | VANGUARD INDEX FDS | $38.5M | 64,495 | 0.34% | -99% |
| SLB | SLB LIMITED | $17,473 | 340 | 0.00% | -99% |
| CAT | CATERPILLAR INC | $964,923 | 1,362 | 0.01% | -99% |
| KO | COCA COLA CO | $3,042 | 40 | 0.00% | -99% |
| EXMOC | EXXON MOBIL CORP | $1.5M | 9,007 | 0.01% | -99% |
| NKE | NIKE INC | $384,635 | 7,282 | 0.00% | -99% |
| PEP | PEPSICO INC | $5,280 | 34 | 0.00% | -99% |
| JD | JD.COM INC | $629,545 | 21,290 | 0.01% | -98% |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $783,971 | 1,636 | 0.01% | -98% |
The book
Largest 150 of 413 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| IVV | ISHARES TR | $5.9B | 9,094,984 | 51.82% | — |
| SPY | STATE STR SPDR S&P 500 ETF T | $4.0B | 6,159,222 | 34.94% | — |
| CWAN | CLEARWATER ANALYTICS HLDGS I | $63.3M | 2,677,322 | 0.55% | — |
| NVDA | NVIDIA CORPORATION | $58.7M | 336,778 | 0.51% | — |
| AM6 | AMICUS THERAPEUTIC | $46.2M | 3,191,610 | 0.40% | — |
| AAUC | ALLIED GOLD CORP | $43.2M | 1,002,000 | 0.38% | — |
| LBRDK | LIBERTY BROADBAND CORP | $42.2M | 838,294 | 0.37% | — |
| NSC | NORFOLK SOUTHN CORP | $41.5M | 144,749 | 0.36% | — |
| KVUE | KENVUE INC | $38.7M | 2,247,472 | 0.34% | — |
| SDA | SEALED AIR CORP NEW | $38.6M | 918,694 | 0.34% | — |
| VOO | VANGUARD INDEX FDS | $38.5M | 64,495 | 0.34% | — |
| FXI | ISHARES TR | $37.5M | 1,044,191 | 0.33% | — |
| HO1 | HOLOGIC INC | $35.2M | 465,126 | 0.31% | — |
| AES | AES CORP | $34.9M | 2,474,180 | 0.30% | — |
| CHART INDS INC | CHART INDS INC | $34.4M | 166,320 | 0.30% | — |
| WBD | WARNER BROS DISCOVERY INC | $33.8M | 1,231,919 | 0.30% | — |
| PEN | PENUMBRA INC | $33.4M | 101,779 | 0.29% | — |
| EA* | ELECTRONIC ARTS INC | $30.2M | 148,098 | 0.26% | — |
| K4F | ONESTREAM INC | $25.8M | 1,074,711 | 0.22% | — |
| DBRG | DIGITALBRIDGE GROUP INC | $25.7M | 1,665,769 | 0.22% | — |
| MASI* | MASIMO CORP | $25.4M | 142,800 | 0.22% | — |
| IWM | ISHARES TR | $22.6M | 91,315 | 0.20% | — |
| CSG SYS INTL INC | CSG SYS INTL INC | $20.6M | 257,088 | 0.18% | — |
| EVRG 4.5 12/15/27 | EVERGY INC | $20.3M | 15,000 | 0.18% | — |
| SNCY | SUN CTRY AIRLS HLDGS INC | $20.1M | 1,218,670 | 0.18% | — |
| QQQ | INVESCO QQQ TR | $19.5M | 33,752 | 0.17% | — |
| MSFT | MICROSOFT CORP | $19.3M | 52,158 | 0.17% | — |
| AMZN | AMAZON COM INC | $19.1M | 91,529 | 0.17% | — |
| TSLA | TESLA INC | $18.5M | 49,824 | 0.16% | — |
| BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $17.4M | 12,500 | 0.15% | — |
| CTRA | COTERRA ENERGY INC | $14.5M | 412,352 | 0.13% | — |
| BABA | ALIBABA GROUP HLDG LTD | $14.4M | 114,546 | 0.13% | — |
| JAZZ 3.125 09/15/30 | JAZZ INVESTMENTS I LTD | $14.1M | 10,000 | 0.12% | — |
| NEE 7.375 02/15/29 | NEXTERA ENERGY INC | $13.8M | 549,593 | 0.12% | — |
| T86 | TRI POINTE HOMES INC | $13.7M | 294,100 | 0.12% | — |
| AAPL | APPLE INC | $12.8M | 50,323 | 0.11% | — |
| AVGO | BROADCOM INC | $11.6M | 37,485 | 0.10% | — |
| JANUS HENDERSON GROUP PL | JANUS HENDERSON GROUP PLC | $11.6M | 225,417 | 0.10% | — |
| PPL | PPL CORP | $11.5M | 450,000 | 0.10% | — |
| PKST | PEAKSTONE REALTY TRUST | $11.1M | 531,511 | 0.10% | — |
| WBS | WEBSTER FINL CORP | $10.1M | 145,990 | 0.09% | — |
| IMXI | INTERNATIONAL MONEY EXPRESS | $10.0M | 630,191 | 0.09% | — |
| ENHABIT INC | ENHABIT INC | $9.1M | 645,000 | 0.08% | — |
| GOOGL | ALPHABET INC | $8.9M | 30,791 | 0.08% | — |
| KWEB | KRANESHARES TRUST | $8.4M | 297,080 | 0.07% | — |
| EFA | ISHARES TR | $7.8M | 79,930 | 0.07% | — |
| LQD | ISHARES TR | $7.5M | 69,044 | 0.07% | — |
| META | META PLATFORMS INC | $7.5M | 13,079 | 0.07% | — |
| MU | MICRON TECHNOLOGY INC | $7.4M | 21,845 | 0.06% | — |
| XLC | SELECT SECTOR SPDR TR | $7.2M | 65,292 | 0.06% | — |
| HYG | ISHARES TR | $7.1M | 89,555 | 0.06% | — |
| FERG | FERGUSON ENTERPRISES INC | $7.1M | 30,461 | 0.06% | — |
| GOOG | ALPHABET INC | $6.9M | 24,039 | 0.06% | — |
| JHX | JAMES HARDIE INDS PLC | $6.6M | 349,531 | 0.06% | — |
| 430 | TERNS PHARMACEUTICALS INC | $6.4M | 120,976 | 0.06% | — |
| SN | SHARKNINJA INC | $6.4M | 59,973 | 0.06% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $6.1M | 17,984 | 0.05% | — |
| NOVT 6.5 11/01/28 | NOVANTA INC | $5.9M | 220,000 | 0.05% | — |
| SEMREUR | SEMRUSH HLDGS INC | $5.8M | 488,521 | 0.05% | — |
| ZIM | ZIM INTEGRATED SHIPPING SERV | $5.4M | 206,368 | 0.05% | — |
| VAL | VALARIS LTD | $5.4M | 55,415 | 0.05% | — |
| ORCL 6.5 01/15/29 D | ORACLE CORP | $5.4M | 233,490 | 0.05% | — |
| MRVL | MARVELL TECHNOLOGY INC | $5.2M | 52,013 | 0.04% | — |
| SNDK | SANDISK CORP | $4.9M | 7,700 | 0.04% | — |
| KOS 3.125 03/15/30 | KOSMOS ENERGY LTD | $4.7M | 6,000 | 0.04% | — |
| VSEC 5.75 02/01/29 | VSE CORP | $4.7M | 191,152 | 0.04% | — |
| UAA | UNDER ARMOUR INC | $4.4M | 749,640 | 0.04% | — |
| ALNY | ALNYLAM PHARMACEUTICALS INC | $4.3M | 13,115 | 0.04% | — |
| NWSA | NEWS CORP NEW | $4.2M | 169,482 | 0.04% | — |
| WHR 8.5 02/15/29 A | WHIRLPOOL CORP | $4.1M | 200,000 | 0.04% | — |
| SHOP | SHOPIFY INC | $4.1M | 34,189 | 0.04% | — |
| KRE | SPDR SERIES TRUST | $4.0M | 61,536 | 0.03% | — |
| CDE | COEUR MNG INC | $4.0M | 213,088 | 0.03% | — |
| HEI/A | HEICO CORP NEW | $4.0M | 18,716 | 0.03% | — |
| ALSN | ALLISON TRANSMISSION HLDGS I | $3.9M | 33,692 | 0.03% | — |
| CRWV | COREWEAVE INC | $3.8M | 48,804 | 0.03% | — |
| CRDO | CREDO TECHNOLOGY GROUP HOLDI | $3.6M | 38,073 | 0.03% | — |
| AVO | MISSION PRODUCE INC | $3.6M | 258,000 | 0.03% | — |
| INTC | INTEL CORP | $3.5M | 79,221 | 0.03% | — |
| HD | HOME DEPOT INC | $3.5M | 10,535 | 0.03% | — |
| SELECT MED HLDGS CORP | SELECT MED HLDGS CORP | $3.4M | 206,810 | 0.03% | — |
| ASML | ASML HLDG NV | $3.4M | 2,539 | 0.03% | — |
| XBI | SPDR SERIES TRUST | $3.3M | 25,933 | 0.03% | — |
| LLY | ELI LILLY & CO | $3.2M | 3,499 | 0.03% | — |
| PLTR | PALANTIR TECHNOLOGIES INC | $3.2M | 21,638 | 0.03% | — |
| ORCL | ORACLE CORP | $3.1M | 21,032 | 0.03% | — |
| ROKU | ROKU INC | $3.1M | 32,690 | 0.03% | — |
| JPM | JPMORGAN CHASE & CO | $3.1M | 10,401 | 0.03% | — |
| AMAT | APPLIED MATLS INC | $3.1M | 8,947 | 0.03% | — |
| AXS | AXIS CAP HLDGS LTD | $3.0M | 29,685 | 0.03% | — |
| CEG | CONSTELLATION ENERGY CORP | $3.0M | 10,760 | 0.03% | — |
| LRCX | LAM RESEARCH CORP | $3.0M | 13,964 | 0.03% | — |
| LAUR | LAUREATE ED INC | $2.9M | 81,884 | 0.02% | — |
| AMD | ADVANCED MICRO DEVICES INC | $2.8M | 13,870 | 0.02% | — |
| NET | CLOUDFLARE INC | $2.8M | 13,526 | 0.02% | — |
| HUBS | HUBSPOT INC | $2.7M | 11,027 | 0.02% | — |
| CRM | SALESFORCE INC | $2.6M | 14,055 | 0.02% | — |
| TALK | TALKSPACE INC | $2.6M | 500,000 | 0.02% | — |
| RITM | RITHM CAPITAL CORP | $2.6M | 272,699 | 0.02% | — |
| SNPS | SYNOPSYS INC | $2.6M | 6,517 | 0.02% | — |
| ALAB | ASTERA LABS INC | $2.6M | 23,571 | 0.02% | — |
| BATRK | ATLANTA BRAVES HLDGS INC | $2.5M | 58,641 | 0.02% | — |
| GTX | GARRETT MOTION INC | $2.5M | 137,043 | 0.02% | — |
| LBTYK | LIBERTY GLOBAL LTD | $2.5M | 210,109 | 0.02% | — |
| KLAC | KLA CORP | $2.4M | 1,660 | 0.02% | — |
| V | VISA INC | $2.4M | 7,969 | 0.02% | — |
| Z | ZILLOW GROUP INC | $2.4M | 57,352 | 0.02% | — |
| IOT | SAMSARA INC | $2.4M | 74,267 | 0.02% | — |
| LEN | LENNAR CORP | $2.3M | 27,050 | 0.02% | — |
| LAZ | LAZARD INC | $2.3M | 55,093 | 0.02% | — |
| CNQ | CANADIAN NAT RES LTD MED TER | $2.3M | 48,008 | 0.02% | — |
| APLSUSD | APELLIS PHARMACEUTICALS INC | $2.3M | 56,266 | 0.02% | — |
| TXN | TEXAS INSTRS INC | $2.2M | 11,398 | 0.02% | — |
| CCO | CLEAR CHANNEL OUTDOOR HLDGS | $2.2M | 928,318 | 0.02% | — |
| TXNM | TXNM ENERGY INC | $2.1M | 36,021 | 0.02% | — |
| COST | COSTCO WHOLESALE CORPORATION | $2.1M | 2,101 | 0.02% | — |
| MCD | MCDONALDS CORP | $2.1M | 6,722 | 0.02% | — |
| ADI | ANALOG DEVICES INC | $2.1M | 6,545 | 0.02% | — |
| COPX | GLOBAL X FDS | $2.0M | 26,800 | 0.02% | — |
| QCOM | QUALCOMM INC | $2.0M | 15,733 | 0.02% | — |
| WTM | WHITE MTNS INS GROUP LTD | $2.0M | 921 | 0.02% | — |
| SPHR | SPHERE ENTERTAINMENT CO | $2.0M | 17,011 | 0.02% | — |
| MA | MASTERCARD INCORPORATED | $2.0M | 3,978 | 0.02% | — |
| XLV | SELECT SECTOR SPDR TR | $2.0M | 13,489 | 0.02% | — |
| BKV | BKV CORP | $2.0M | 68,589 | 0.02% | — |
| LYFT | LYFT INC | $2.0M | 147,053 | 0.02% | — |
| BAM | BROOKFIELD ASSET MANAGMT LTD | $1.9M | 37,800 | 0.02% | — |
| PDD | PDD HOLDINGS INC | $1.8M | 17,584 | 0.02% | — |
| UTE0 | CANTALOUPE INC | $1.8M | 163,953 | 0.02% | — |
| LIF | LIFE360 INC | $1.7M | 41,872 | 0.01% | — |
| BIDU | BAIDU INC | $1.7M | 15,290 | 0.01% | — |
| LOW | LOWES COS INC | $1.7M | 6,988 | 0.01% | — |
| LTH | LIFE TIME GROUP HOLDINGS INC | $1.6M | 60,756 | 0.01% | — |
| CSCO | CISCO SYS INC | $1.6M | 21,064 | 0.01% | — |
| CMI | CUMMINS INC | $1.6M | 2,964 | 0.01% | — |
| NFLX | NETFLIX INC. | $1.6M | 16,554 | 0.01% | — |
| VSEC | VSE CORP | $1.6M | 8,576 | 0.01% | — |
| EXMOC | EXXON MOBIL CORP | $1.5M | 9,007 | 0.01% | — |
| XLP | SELECT SECTOR SPDR TR | $1.5M | 18,375 | 0.01% | — |
| HWM | HOWMET AEROSPACE INC | $1.5M | 6,531 | 0.01% | — |
| JNJ | JOHNSON & JOHNSON | $1.5M | 6,095 | 0.01% | — |
| CDNS | CADENCE DESIGN SYSTEM INC | $1.5M | 5,355 | 0.01% | — |
| NRG | NRG ENERGY INC | $1.5M | 10,004 | 0.01% | — |
| WMT | WALMART INC | $1.4M | 11,608 | 0.01% | — |
| TECK | TECK RESOURCES LTD | $1.4M | 20,196 | 0.01% | — |
| MP | MP MATERIALS CORP | $1.4M | 29,486 | 0.01% | — |
| BA | BOEING CO | $1.4M | 7,092 | 0.01% | — |
| EQX | EQUINOX GOLD CORP | $1.4M | 70,000 | 0.01% | — |
| ABBV | ABBVIE INC | $1.4M | 6,392 | 0.01% | — |
| HUBB | HUBBELL INC | $1.4M | 2,825 | 0.01% | — |
This table is the 150 largest positions by value, out of 413 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.
This manager also disclosed 655 options positions with a combined notional of $2.6B. Notional is not ownership, so it is excluded from the book value above rather than folded in to make the fund look bigger.
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 Capula Management Ltd (CIK 1557017, accession 0001172661-26-001894). 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
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