13F holdings
Concurrent Investment Advisors, LLC portfolio
Managed by . 1,851 reported positions worth $9.2B as of 2026-03-31, filed with the SEC on 2026-04-21. Parsed from the filing itself, not a reseller.
$9.2B
Book value
1,851
Positions
19%
Top 10 weight
+251
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 21 days old on 2026-04-21, 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 (251)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| CTA | SIMPLIFY EXCHANGE TRADED FUN | $44.3M | 1,464,649 | 0.48% |
| DFIC | DIMENSIONAL ETF TRUST | $23.1M | 650,295 | 0.25% |
| DFEM | DIMENSIONAL ETF TRUST | $17.5M | 507,422 | 0.19% |
| AVEM | AMERICAN CENTY ETF TR | $16.0M | 198,408 | 0.17% |
| CGVV | CAPITAL GROUP EQUITY ETF TR | $15.0M | 559,215 | 0.16% |
| AVUS | AMERICAN CENTY ETF TR | $13.6M | 122,596 | 0.15% |
| BBRE | J P MORGAN EXCHANGE TRADED F | $13.4M | 140,215 | 0.15% |
| DFAR | DIMENSIONAL ETF TRUST | $10.6M | 446,859 | 0.12% |
| DIHP | DIMENSIONAL ETF TRUST | $10.4M | 321,433 | 0.11% |
| DFNM | DIMENSIONAL ETF TRUST | $9.2M | 192,157 | 0.10% |
| HGER | HARBOR ETF TRUST | $7.5M | 240,709 | 0.08% |
| DUHP | DIMENSIONAL ETF TRUST | $6.9M | 186,599 | 0.07% |
| RSPG | INVESCO EXCHANGE TRADED FD T | $5.0M | 46,052 | 0.06% |
| AZN | ASTRAZENECA PLC | $4.6M | 23,353 | 0.05% |
| AVDV | AMERICAN CENTY ETF TR | $4.3M | 42,609 | 0.05% |
| IPGP | IPG PHOTONICS CORP | $4.1M | 35,394 | 0.04% |
| IDEF | BLACKROCK ETF TRUST | $3.3M | 100,139 | 0.04% |
| BLCR | BLACKROCK ETF TRUST | $3.2M | 78,302 | 0.04% |
| DBB | INVESCO DB MULTI-SECTOR COMM | $2.9M | 123,986 | 0.03% |
| AXTI | AXT INC | $2.4M | 41,908 | 0.03% |
| PKE | PARK AEROSPACE CORP | $2.3M | 83,070 | 0.02% |
| JIVE | J P MORGAN EXCHANGE TRADED F | $2.2M | 25,792 | 0.02% |
| AVSF | AMERICAN CENTY ETF TR | $2.0M | 43,587 | 0.02% |
| BAH | BOOZ ALLEN HAMILTON HLDG COR | $1.8M | 23,586 | 0.02% |
| PDBC | INVESCO ACTVELY MNGD ETC FD | $1.8M | 104,846 | 0.02% |
Closed out (113)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| SANM | SANMINA CORPORATION | $5.6M | 37,379 | 0.00% |
| W | WAYFAIR INC | $5.3M | 52,501 | 0.00% |
| AZNN | ASTRAZENECA PLC | $4.6M | 50,240 | 0.00% |
| TRN | TRINITY INDS INC | $2.2M | 82,722 | 0.00% |
| CADE | CADENCE BANK | $2.1M | 48,655 | 0.00% |
| XSOE | WISDOMTREE TR | $2.0M | 50,423 | 0.00% |
| HYLB | DBX ETF TR | $1.9M | 50,673 | 0.00% |
| VIAV | VIAVI SOLUTIONS INC | $1.7M | 95,107 | 0.00% |
| DMCY | ADVISORS INNER CIRCLE FD III | $1.5M | 49,017 | 0.00% |
| SYU1 | SYNOVUS FINL CORP | $1.5M | 29,976 | 0.00% |
| VSS | VANGUARD INTL EQUITY INDEX F | $1.4M | 9,783 | 0.00% |
| TRFK | PACER FDS TR | $1.3M | 21,014 | 0.00% |
| ORLA MNG LTD NEW | ORLA MNG LTD NEW | $1.2M | 88,828 | 0.00% |
| ERO | ERO COPPER CORP | $1.1M | 40,351 | 0.00% |
| TMDX | TRANSMEDICS GROUP INC | $1.1M | 9,344 | 0.00% |
| GUNR | FLEXSHARES TR | $1.1M | 23,814 | 0.00% |
| SJNK | SPDR SERIES TRUST | $1.1M | 42,402 | 0.00% |
| EES | WISDOMTREE TR | $1.1M | 18,469 | 0.00% |
| IWC | ISHARES TR | $982,658 | 6,231 | 0.00% |
| GEN | GEN DIGITAL INC | $960,992 | 35,344 | 0.00% |
| EPR | EPR PPTYS | $782,372 | 15,678 | 0.00% |
| CORP | PIMCO ETF TR | $747,672 | 7,641 | 0.00% |
| NFRA | FLEXSHARES TR | $725,636 | 11,992 | 0.00% |
| XMVTX | BLACKROCK MUNIVEST FD II INC | $714,541 | 66,100 | 0.00% |
| IGBH | ISHARES U S ETF TR | $694,369 | 28,192 | 0.00% |
Added to (876)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| AAPL | APPLE INC | $266.8M | 1,067,360 | 2.91% | +2% |
| MSFT | MICROSOFT CORP | $215.1M | 580,993 | 2.35% | +4% |
| VOO | VANGUARD INDEX FDS | $205.6M | 344,117 | 2.25% | +20% |
| BIL | SPDR SERIES TRUST | $155.6M | 1,697,549 | 1.70% | +697% |
| FTSM | FIRST TR EXCHANGE-TRADED FD | $154.9M | 2,590,899 | 1.69% | +4481% |
| AMZN | AMAZON COM INC | $136.7M | 656,416 | 1.49% | +2% |
| GLD | SPDR GOLD TR | $106.4M | 247,238 | 1.16% | +78% |
| IVV | ISHARES TR | $105.1M | 160,880 | 1.15% | +9% |
| AVGO | BROADCOM INC | $84.5M | 272,962 | 0.92% | +6% |
| JPM | JPMORGAN CHASE & CO | $71.4M | 242,746 | 0.78% | +3% |
| LMBS | FIRST TR EXCHANGE-TRADED FD | $71.0M | 1,424,840 | 0.77% | +18% |
| VTV | VANGUARD INDEX FDS | $67.4M | 343,483 | 0.74% | +4% |
| IEFA | ISHARES TR | $64.1M | 708,145 | 0.70% | +41% |
| FBND | FIDELITY MERRIMACK STR TR | $60.4M | 1,323,905 | 0.66% | +302% |
| VTI | VANGUARD INDEX FDS | $56.3M | 175,449 | 0.61% | +4% |
Trimmed (546)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| FIIG | FIRST TR EXCHANGE-TRADED FD | $752,760 | 36,278 | 0.01% | -95% |
| VFLO | VICTORY PORTFOLIOS II | $537,889 | 13,624 | 0.01% | -94% |
| CVNA | CARVANA CO | $233,584 | 743 | 0.00% | -93% |
| DDWM | WISDOMTREE TR | $515,911 | 11,696 | 0.01% | -92% |
| QGRW | WISDOMTREE TR | $482,236 | 9,026 | 0.01% | -91% |
| IWV | ISHARES TR | $3.4M | 9,136 | 0.04% | -90% |
| ARKK | ARK ETF TR | $970,145 | 14,353 | 0.01% | -89% |
| IYW | ISHARES TR | $3.3M | 18,081 | 0.04% | -88% |
| EFAV | ISHARES TR | $246,831 | 2,701 | 0.00% | -86% |
| RSPT | INVESCO EXCHANGE TRADED FD T | $245,348 | 5,421 | 0.00% | -86% |
| IAU | ISHARES GOLD TR | $31.1M | 353,230 | 0.34% | -86% |
| VISN | VISTANCE NETWORKS INC | $289,617 | 15,913 | 0.00% | -86% |
| BEAM | BEAM THERAPEUTICS INC | $277,405 | 11,641 | 0.00% | -85% |
| TTWO | TAKE-TWO INTERACTIVE SOFTWAR | $365,990 | 1,853 | 0.00% | -83% |
| MGC | VANGUARD WORLD FD | $2.8M | 11,930 | 0.03% | -82% |
The book
Largest 150 of 1,851 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| AAPL | APPLE INC | $266.8M | 1,067,360 | 2.91% | — |
| NVDA | NVIDIA CORPORATION | $238.7M | 1,368,739 | 2.61% | — |
| MSFT | MICROSOFT CORP | $215.1M | 580,993 | 2.35% | — |
| VOO | VANGUARD INDEX FDS | $205.6M | 344,117 | 2.25% | — |
| BIL | SPDR SERIES TRUST | $155.6M | 1,697,549 | 1.70% | — |
| FTSM | FIRST TR EXCHANGE-TRADED FD | $154.9M | 2,590,899 | 1.69% | — |
| AMZN | AMAZON COM INC | $136.7M | 656,416 | 1.49% | — |
| SPY | STATE STR SPDR S&P 500 ETF T | $124.0M | 190,608 | 1.35% | — |
| GOOGL | ALPHABET INC | $108.6M | 377,691 | 1.19% | — |
| GLD | SPDR GOLD TR | $106.4M | 247,238 | 1.16% | — |
| IVV | ISHARES TR | $105.1M | 160,880 | 1.15% | — |
| AVGO | BROADCOM INC | $84.5M | 272,962 | 0.92% | — |
| QQQ | INVESCO QQQ TR | $81.6M | 141,451 | 0.89% | — |
| WMT | WALMART INC | $80.1M | 644,183 | 0.87% | — |
| GOOG | ALPHABET INC | $75.2M | 262,154 | 0.82% | — |
| META | META PLATFORMS INC | $73.2M | 127,924 | 0.80% | — |
| JPM | JPMORGAN CHASE & CO | $71.4M | 242,746 | 0.78% | — |
| LMBS | FIRST TR EXCHANGE-TRADED FD | $71.0M | 1,424,840 | 0.77% | — |
| VTV | VANGUARD INDEX FDS | $67.4M | 343,483 | 0.74% | — |
| IEFA | ISHARES TR | $64.1M | 708,145 | 0.70% | — |
| FBND | FIDELITY MERRIMACK STR TR | $60.4M | 1,323,905 | 0.66% | — |
| VTI | VANGUARD INDEX FDS | $56.3M | 175,449 | 0.61% | — |
| VUG | VANGUARD INDEX FDS | $55.6M | 127,406 | 0.61% | — |
| XLK | SELECT SECTOR SPDR TR | $54.5M | 409,833 | 0.59% | — |
| BOND | PIMCO ETF TR | $52.3M | 566,907 | 0.57% | — |
| VWO | VANGUARD INTL EQUITY INDEX F | $51.1M | 945,800 | 0.56% | — |
| JNJ | JOHNSON & JOHNSON | $48.1M | 196,768 | 0.53% | — |
| EXMOC | EXXON MOBIL CORP | $48.1M | 283,419 | 0.53% | — |
| IJR | ISHARES TR | $46.9M | 376,969 | 0.51% | — |
| CTA | SIMPLIFY EXCHANGE TRADED FUN | $44.3M | 1,464,649 | 0.48% | — |
| IEMG | ISHARES INC | $43.1M | 618,497 | 0.47% | — |
| FTCS | FIRST TR EXCHANGE-TRADED FD | $42.7M | 460,550 | 0.47% | — |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $41.2M | 85,931 | 0.45% | — |
| VIG | VANGUARD SPECIALIZED FUNDS | $41.0M | 190,557 | 0.45% | — |
| AGG | ISHARES TR | $40.9M | 412,073 | 0.45% | — |
| BAC | BANK AMERICA CORP | $40.8M | 835,971 | 0.44% | — |
| CGGR | CAPITAL GROUP GROWTH ETF | $40.7M | 1,012,061 | 0.44% | — |
| HD | HOME DEPOT INC | $40.7M | 123,616 | 0.44% | — |
| IWD | ISHARES TR | $40.5M | 189,584 | 0.44% | — |
| CGDV | CAPITAL GROUP DIVIDEND VALUE | $40.5M | 951,643 | 0.44% | — |
| MU | MICRON TECHNOLOGY INC | $40.2M | 118,898 | 0.44% | — |
| LLY | ELI LILLY & CO | $39.4M | 42,833 | 0.43% | — |
| TLT | ISHARES TR | $38.9M | 448,241 | 0.42% | — |
| SPYM | SPDR SERIES TRUST | $38.7M | 505,424 | 0.42% | — |
| EFA | ISHARES TR | $37.1M | 381,980 | 0.41% | — |
| IJH | ISHARES TR | $36.4M | 538,822 | 0.40% | — |
| SMH | VANECK ETF TRUST | $34.0M | 88,688 | 0.37% | — |
| FV | FIRST TR EXCHANGE TRADED FD | $34.0M | 562,364 | 0.37% | — |
| ABBV | ABBVIE INC | $33.9M | 156,097 | 0.37% | — |
| CVX | CHEVRON CORPORATION | $33.6M | 162,632 | 0.37% | — |
| SPYG | SPDR SERIES TRUST | $31.7M | 324,188 | 0.35% | — |
| IVW | ISHARES TR | $31.7M | 279,982 | 0.35% | — |
| IAU | ISHARES GOLD TR | $31.1M | 353,230 | 0.34% | — |
| MRK | MERCK & CO INC | $30.6M | 254,138 | 0.33% | — |
| TSLA | TESLA INC | $30.3M | 82,147 | 0.33% | — |
| V | VISA INC | $29.7M | 98,298 | 0.32% | — |
| XLF | SELECT SECTOR SPDR TR | $29.5M | 598,487 | 0.32% | — |
| PLTR | PALANTIR TECHNOLOGIES INC | $29.1M | 198,702 | 0.32% | — |
| KO | COCA COLA CO | $29.0M | 381,189 | 0.32% | — |
| CAT | CATERPILLAR INC | $28.9M | 40,732 | 0.32% | — |
| QQQM | INVESCO EXCH TRADED FD TR II | $28.8M | 121,295 | 0.31% | — |
| CSCO | CISCO SYS INC | $28.6M | 368,916 | 0.31% | — |
| SCHG | SCHWAB STRATEGIC TR | $28.4M | 974,922 | 0.31% | — |
| VZ | VERIZON COMMUNICATIONS INC | $28.4M | 565,661 | 0.31% | — |
| DYNF | BLACKROCK ETF TRUST | $28.3M | 486,778 | 0.31% | — |
| IWM | ISHARES TR | $27.9M | 112,657 | 0.31% | — |
| VCIT | VANGUARD SCOTTSDALE FDS | $27.3M | 330,049 | 0.30% | — |
| VEA | VANGUARD TAX-MANAGED FDS | $26.9M | 420,230 | 0.29% | — |
| IWF | ISHARES TR | $26.2M | 61,417 | 0.29% | — |
| PG | PROCTER & GAMBLE CO | $25.9M | 179,251 | 0.28% | — |
| TOTL | SSGA ACTIVE ETF TR | $25.8M | 648,377 | 0.28% | — |
| MOAT | VANECK ETF TRUST | $25.7M | 265,625 | 0.28% | — |
| IVE | ISHARES TR | $25.1M | 119,031 | 0.27% | — |
| VYM | VANGUARD WHITEHALL FDS | $24.2M | 163,633 | 0.26% | — |
| IEF | ISHARES TR | $24.2M | 253,712 | 0.26% | — |
| NEE | NEXTERA ENERGY INC | $24.0M | 258,870 | 0.26% | — |
| EFV | ISHARES TR | $23.9M | 322,068 | 0.26% | — |
| DGRW | WISDOMTREE TR | $23.9M | 272,557 | 0.26% | — |
| SPYV | SPDR SERIES TRUST | $23.9M | 421,795 | 0.26% | — |
| ORCL | ORACLE CORP | $23.6M | 160,097 | 0.26% | — |
| CB | CHUBB LTD SWITZ | $23.2M | 71,317 | 0.25% | — |
| DFIC | DIMENSIONAL ETF TRUST | $23.1M | 650,295 | 0.25% | — |
| RDVY | FIRST TR EXCHANGE TRADED FD | $23.0M | 337,481 | 0.25% | — |
| QUAL | ISHARES TR | $22.6M | 117,621 | 0.25% | — |
| AVUV | AMERICAN CENTY ETF TR | $22.5M | 203,435 | 0.25% | — |
| IWR | ISHARES TR | $22.4M | 230,568 | 0.24% | — |
| XLC | SELECT SECTOR SPDR TR | $22.2M | 200,281 | 0.24% | — |
| XLV | SELECT SECTOR SPDR TR | $21.9M | 149,093 | 0.24% | — |
| GS | GOLDMAN SACHS GROUP INC | $21.8M | 25,740 | 0.24% | — |
| MCD | MCDONALDS CORP | $21.7M | 69,922 | 0.24% | — |
| NFLX | NETFLIX INC. | $21.5M | 223,668 | 0.23% | — |
| CME | CME GROUP INC | $21.3M | 71,999 | 0.23% | — |
| MGK | VANGUARD WORLD FD | $20.3M | 55,178 | 0.22% | — |
| IUSB | ISHARES TR | $20.2M | 437,299 | 0.22% | — |
| UBER | UBER TECHNOLOGIES INC | $20.1M | 279,558 | 0.22% | — |
| MA | MASTERCARD INCORPORATED | $20.0M | 39,983 | 0.22% | — |
| DBMF | LITMAN GREGORY FDS TR | $19.9M | 661,094 | 0.22% | — |
| COST | COSTCO WHOLESALE CORPORATION | $19.7M | 19,792 | 0.22% | — |
| RSP | INVESCO EXCHANGE TRADED FD T | $19.7M | 102,744 | 0.22% | — |
| XLE | SELECT SECTOR SPDR TR | $19.7M | 321,857 | 0.22% | — |
| CGBL | CAPITAL GROUP CORE BALANCED | $19.7M | 572,908 | 0.22% | — |
| VIOV | VANGUARD ADMIRAL FDS INC | $19.6M | 192,669 | 0.21% | — |
| USFR | WISDOMTREE TR | $19.6M | 388,807 | 0.21% | — |
| FENI | FIDELITY COVINGTON TRUST | $19.6M | 525,841 | 0.21% | — |
| IBM | INTERNATIONAL BUSINESS MACHS | $19.5M | 80,414 | 0.21% | — |
| MPC | MARATHON PETE CORP | $19.5M | 79,694 | 0.21% | — |
| COWZ | PACER FDS TR | $19.0M | 303,295 | 0.21% | — |
| SHY | ISHARES TR | $18.8M | 228,030 | 0.21% | — |
| XLP | SELECT SECTOR SPDR TR | $18.7M | 228,120 | 0.20% | — |
| GEV | GE VERNOVA INC | $18.5M | 21,179 | 0.20% | — |
| OMFL | INVESCO EXCH TRD SLF IDX FD | $18.4M | 306,114 | 0.20% | — |
| VGT | VANGUARD WORLD FD | $18.3M | 26,209 | 0.20% | — |
| IUSG | ISHARES TR | $18.2M | 117,066 | 0.20% | — |
| PEP | PEPSICO INC | $18.0M | 115,844 | 0.20% | — |
| SPTS | SPDR SERIES TRUST | $18.0M | 615,436 | 0.20% | — |
| VO | VANGUARD INDEX FDS | $17.9M | 62,392 | 0.20% | — |
| AMD | ADVANCED MICRO DEVICES INC | $17.8M | 87,296 | 0.19% | — |
| RTX | RTX CORPORATION | $17.7M | 91,707 | 0.19% | — |
| LRCX | LAM RESEARCH CORP | $17.6M | 82,201 | 0.19% | — |
| DFEM | DIMENSIONAL ETF TRUST | $17.5M | 507,422 | 0.19% | — |
| DIA | STATE STR SPDR DOW JONES IND | $17.2M | 37,219 | 0.19% | — |
| BRK/A | BERKSHIRE HATHAWAY INC DEL | $17.2M | 24 | 0.19% | — |
| SGOV | ISHARES TR | $17.2M | 170,784 | 0.19% | — |
| FVD | FIRST TR EXCHANGE-TRADED FD | $17.2M | 365,461 | 0.19% | — |
| XLU | SELECT SECTOR SPDR TR | $17.1M | 372,588 | 0.19% | — |
| VB | VANGUARD INDEX FDS | $16.5M | 63,123 | 0.18% | — |
| JCI | JOHNSON CONTROLS INTERNATION | $16.3M | 124,526 | 0.18% | — |
| IUSV | ISHARES TR | $16.2M | 158,595 | 0.18% | — |
| AVEM | AMERICAN CENTY ETF TR | $16.0M | 198,408 | 0.17% | — |
| JAAA | JANUS DETROIT STR TR | $15.8M | 314,389 | 0.17% | — |
| AMGN | AMGEN INC | $15.2M | 43,060 | 0.17% | — |
| CGVV | CAPITAL GROUP EQUITY ETF TR | $15.0M | 559,215 | 0.16% | — |
| TJX | TJX COS INC NEW | $14.7M | 92,059 | 0.16% | — |
| OKE | ONEOK INC NEW | $14.7M | 162,449 | 0.16% | — |
| BSV | VANGUARD BD INDEX FDS | $14.4M | 183,970 | 0.16% | — |
| GE | GE AEROSPACE | $14.3M | 51,309 | 0.16% | — |
| ETN | EATON CORP PLC | $14.3M | 40,098 | 0.16% | — |
| AVDE | AMERICAN CENTY ETF TR | $14.2M | 167,301 | 0.15% | — |
| LHX | L3HARRIS TECHNOLOGIES INC | $14.2M | 41,079 | 0.15% | — |
| TFC | TRUIST FINL CORP | $14.1M | 307,570 | 0.15% | — |
| PANW | PALO ALTO NETWORKS INC | $14.1M | 88,161 | 0.15% | — |
| FNDE | SCHWAB STRATEGIC TR | $14.1M | 367,504 | 0.15% | — |
| VTEB | VANGUARD MUN BD FDS | $14.0M | 281,255 | 0.15% | — |
| RWL | INVESCO EXCH TRADED FD TR II | $13.9M | 121,344 | 0.15% | — |
| BX | BLACKSTONE INC | $13.9M | 120,926 | 0.15% | — |
| URI | UNITED RENTALS INC | $13.8M | 18,986 | 0.15% | — |
| DFAI | DIMENSIONAL ETF TRUST | $13.8M | 354,819 | 0.15% | — |
| DFAC | DIMENSIONAL ETF TRUST | $13.7M | 352,500 | 0.15% | — |
| DBEF | DBX ETF TR | $13.6M | 276,098 | 0.15% | — |
| AVUS | AMERICAN CENTY ETF TR | $13.6M | 122,596 | 0.15% | — |
This table is the 150 largest positions by value, out of 1,851 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 78 options positions with a combined notional of $39.3M. 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 Concurrent Investment Advisors, LLC (CIK 2001015, accession 0002085853-26-000427). 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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