13F holdings
Daiwa Securities Group Inc. portfolio
Managed by . 1,113 reported positions worth $34.6B as of 2026-03-31, filed with the SEC on 2026-05-13. Parsed from the filing itself, not a reseller.
$34.6B
Book value
1,113
Positions
41%
Top 10 weight
+80
New this quarter
-300
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 43 days old on 2026-05-13, 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 (80)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| NET 0 08/15/26 | CLOUDFLARE INC | $23.5M | 20,000,000 | 0.07% |
| BABA 0.5 06/01/31 | ALIBABA GROUP HLDG LTD | $17.4M | 12,500,000 | 0.05% |
| AWK 3.625 06/15/26 | AMERICAN WTR CAP CORP | $14.0M | 14,000,000 | 0.04% |
| YSS | YORK SPACE SYSTEMS INC | $13.8M | 622,792 | 0.04% |
| LOAR | LOAR HOLDINGS INC | $11.7M | 203,400 | 0.03% |
| AKAM 0.375 09/01/27 | AKAMAI TECHNOLOGIES INC | $8.7M | 7,500,000 | 0.03% |
| AKAM 1.125 02/15/29 | AKAMAI TECHNOLOGIES INC | $8.6M | 7,500,000 | 0.02% |
| FOUR | SHIFT4 PMTS INC | $7.2M | 163,600 | 0.02% |
| BOX 1.5 09/15/29 | BOX INC | $6.9M | 7,500,000 | 0.02% |
| ORCL 6.5 01/15/29 D | ORACLE CORP | $6.9M | 150,000 | 0.02% |
| JAN | JANUS LIVING INC | $6.4M | 270,264 | 0.02% |
| STRL | STERLING INFRASTRUCTURE INC | $4.1M | 10,000 | 0.01% |
| SPY | STATE STR SPDR S&P 500 ETF T | $3.9M | 6,000 | 0.01% |
| AMCR | AMCOR PLC | $3.1M | 78,891 | 0.01% |
| FTAI | FTAI AVIATION LTD | $2.7M | 10,836 | 0.01% |
| DY | DYCOM INDS INC | $2.4M | 7,000 | 0.01% |
| NNE | NANO NUCLEAR ENERGY INC | $2.3M | 113,800 | 0.01% |
| ASTS | AST SPACEMOBILE INC | $2.0M | 24,675 | 0.01% |
| BETR | BETTER HOME & FINANCE HOLDIN | $2.0M | 55,200 | 0.01% |
| CDE | COEUR MNG INC | $1.8M | 94,500 | 0.01% |
| UAMY | UNITED STATES ANTIMONY CORP | $1.6M | 185,100 | 0.00% |
| SMCI 3.5 03/01/29 | SUPER MICRO COMPUTER INC | $1.6M | 2,000,000 | 0.00% |
| XYZ 0 05/01/26 | BLOCK INC | $1.5M | 1,500,000 | 0.00% |
| CRML | CRITICAL METALS CORP | $1.4M | 175,000 | 0.00% |
| AR | ANTERO RESOURCES CORP | $1.2M | 28,700 | 0.00% |
Closed out (300)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| IBIT | ISHARES BITCOIN TRUST ETF | $94.1M | 1,895,000 | 0.00% |
| AVAV | AEROVIRONMENT INC | $23.7M | 97,890 | 0.00% |
| AMCR | AMCOR PLC | $15.6M | 373,510 | 0.00% |
| IONS 0 04/01/26 | IONIS PHARMACEUTICALS INC | $13.7M | 10,000,000 | 0.00% |
| DBX 0 03/01/26 | DROPBOX INC | $7.4M | 7,500,000 | 0.00% |
| TXRH | TEXAS ROADHOUSE INC | $5.4M | 32,767 | 0.00% |
| SPOT 0 03/15/26 | SPOTIFY USA INC | $5.1M | 4,500,000 | 0.00% |
| AZNN | ASTRAZENECA PLC | $5.0M | 54,060 | 0.00% |
| HLI | HOULIHAN LOKEY INC | $3.4M | 19,513 | 0.00% |
| HDB | HDFC BANK LTD | $3.2M | 86,274 | 0.00% |
| LYFT | LYFT INC | $2.9M | 150,904 | 0.00% |
| SFM | SPROUTS FMRS MKT INC | $2.7M | 33,522 | 0.00% |
| CYBR | CYBERARK SOFTWARE LTD | $2.3M | 5,242 | 0.00% |
| DAY | DAYFORCE INC | $2.2M | 31,747 | 0.00% |
| USFD | US FOODS HLDG CORP | $1.8M | 24,438 | 0.00% |
| K4F | ONESTREAM INC | $1.7M | 91,247 | 0.00% |
| QRVO | QORVO INC | $1.5M | 17,700 | 0.00% |
| WIX | WIX COM LTD | $985,000 | 9,479 | 0.00% |
| ESTC | ELASTIC N V | $920,000 | 12,200 | 0.00% |
| NVST | ENVISTA HOLDINGS CORPORATION | $893,000 | 41,132 | 0.00% |
| BAH | BOOZ ALLEN HAMILTON HLDG COR | $885,000 | 10,494 | 0.00% |
| NGDN | NEW GOLD INC CDA | $872,000 | 100,100 | 0.00% |
| DINO | HF SINCLAIR CORP | $797,000 | 17,300 | 0.00% |
| INDV | INDIVIOR PLC | $785,000 | 21,890 | 0.00% |
| DV | DOUBLEVERIFY HLDGS INC | $781,000 | 68,280 | 0.00% |
Added to (680)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | $2.3B | 13,306,993 | 6.70% | +37% |
| MSFT | MICROSOFT CORP | $2.2B | 6,022,434 | 6.43% | +90% |
| AAPL | APPLE INC | $1.8B | 7,236,979 | 5.30% | +24% |
| GOOGL | ALPHABET INC | $1.6B | 5,421,852 | 4.50% | +52% |
| AVGO | BROADCOM INC | $1.4B | 4,563,290 | 4.08% | +45% |
| AMZN | AMAZON COM INC | $1.3B | 6,426,782 | 3.86% | +17% |
| META | META PLATFORMS INC | $951.6M | 1,663,260 | 2.75% | +8% |
| PLTR | PALANTIR TECHNOLOGIES INC | $909.4M | 6,217,069 | 2.62% | +39% |
| NFLX | NETFLIX INC | $822.1M | 8,550,235 | 2.37% | +2% |
| GOOG | ALPHABET INC | $676.3M | 2,357,746 | 1.95% | +96% |
| PLD | PROLOGIS INC | $644.2M | 4,873,945 | 1.86% | +1% |
| MU | MICRON TECHNOLOGY INC | $636.5M | 1,884,021 | 1.84% | +185% |
| VTR | VENTAS INC | $440.2M | 5,382,664 | 1.27% | +14% |
| EXR | EXTRA SPACE STORAGE INC | $383.9M | 2,927,433 | 1.11% | +5% |
| CCI | CROWN CASTLE INC | $356.6M | 4,385,192 | 1.03% | +2% |
Trimmed (270)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| BTQ | BTQ TECHNOLOGIES CORP | $534 | 200 | 0.00% | -100% |
| PFGC | PERFORMANCE FOOD GROUP CO | $68,100 | 795 | 0.00% | -99% |
| RCAT | RED CAT HLDGS INC | $14,399 | 1,100 | 0.00% | -98% |
| NYT | NEW YORK TIMES CO MTN BE | $128,944 | 1,540 | 0.00% | -95% |
| CRWD | CROWDSTRIKE HLDGS INC | $30.0M | 76,825 | 0.09% | -95% |
| VERIS RESIDENTIAL INC | VERIS RESIDENTIAL INC | $604,557 | 32,038 | 0.00% | -94% |
| NTST | NETSTREIT CORP | $723,599 | 38,428 | 0.00% | -93% |
| COLD | AMERICOLD REALTY TRUST INC | $1.4M | 119,298 | 0.00% | -92% |
| WTRG | ESSENTIAL UTILS INC | $108,850 | 2,703 | 0.00% | -90% |
| HPP | HUDSON PACIFIC PROPERTIES IN | $125,008 | 21,152 | 0.00% | -89% |
| FSV | FIRSTSERVICE CORP NEW | $464,754 | 3,345 | 0.00% | -89% |
| TME | TENCENT MUSIC ENTMT GROUP | $22,272 | 2,400 | 0.00% | -89% |
| VUZI | VUZIX CORP | $6,006 | 2,600 | 0.00% | -88% |
| NSA* | NATIONAL STORAGE AFFILIATES | $1.3M | 33,557 | 0.00% | -88% |
| MOH | MOLINA HEALTHCARE INC | $601,183 | 4,510 | 0.00% | -88% |
The book
Largest 150 of 1,113 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | $2.3B | 13,306,993 | 6.70% | — |
| MSFT | MICROSOFT CORP | $2.2B | 6,022,434 | 6.43% | — |
| AAPL | APPLE INC | $1.8B | 7,236,979 | 5.30% | — |
| GOOGL | ALPHABET INC | $1.6B | 5,421,852 | 4.50% | — |
| AVGO | BROADCOM INC | $1.4B | 4,563,290 | 4.08% | — |
| AMZN | AMAZON COM INC | $1.3B | 6,426,782 | 3.86% | — |
| META | META PLATFORMS INC | $951.6M | 1,663,260 | 2.75% | — |
| PLTR | PALANTIR TECHNOLOGIES INC | $909.4M | 6,217,069 | 2.62% | — |
| WELL | WELLTOWER INC | $846.9M | 4,283,582 | 2.44% | — |
| NFLX | NETFLIX INC | $822.1M | 8,550,235 | 2.37% | — |
| DLR | DIGITAL RLTY TR INC | $746.6M | 4,142,697 | 2.15% | — |
| GOOG | ALPHABET INC | $676.3M | 2,357,746 | 1.95% | — |
| PLD | PROLOGIS INC | $644.2M | 4,873,945 | 1.86% | — |
| MU | MICRON TECHNOLOGY INC | $636.5M | 1,884,021 | 1.84% | — |
| VTR | VENTAS INC | $440.2M | 5,382,664 | 1.27% | — |
| EQIX | EQUINIX INC | $430.7M | 439,415 | 1.24% | — |
| EXR | EXTRA SPACE STORAGE INC | $383.9M | 2,927,433 | 1.11% | — |
| CCI | CROWN CASTLE INC | $356.6M | 4,385,192 | 1.03% | — |
| IRM | IRON MTN INC DEL | $317.4M | 3,107,440 | 0.92% | — |
| UNH | UNITEDHEALTH GROUP INC | $311.1M | 1,149,823 | 0.90% | — |
| KIM | KIMCO REALTY CORP | $300.2M | 13,357,982 | 0.87% | — |
| SPG | SIMON PPTY GROUP INC NEW | $294.4M | 1,578,080 | 0.85% | — |
| TSLA | TESLA INC | $261.0M | 702,158 | 0.75% | — |
| LRCX | LAM RESEARCH CORP | $249.1M | 1,165,720 | 0.72% | — |
| PSA | PUBLIC STORAGE OPER CO | $241.3M | 890,981 | 0.70% | — |
| ORCL | ORACLE CORP | $239.3M | 1,626,844 | 0.69% | — |
| BXP | BXP INC | $224.2M | 4,319,777 | 0.65% | — |
| ESS | ESSEX PPTY TR INC | $223.8M | 924,804 | 0.65% | — |
| ADC | AGREE RLTY CORP | $223.3M | 2,961,683 | 0.64% | — |
| SUI | SUN CMNTYS INC | $222.7M | 1,768,350 | 0.64% | — |
| ELS | EQUITY LIFESTYLE PROPERTIES | $220.1M | 3,526,349 | 0.64% | — |
| TMUS | T-MOBILE US INC | $214.1M | 1,019,493 | 0.62% | — |
| IVV | ISHARES TR | $180.0M | 275,565 | 0.52% | — |
| PEP | PEPSICO INC | $179.0M | 1,152,702 | 0.52% | — |
| JPM | JPMORGAN CHASE & CO | $172.1M | 584,966 | 0.50% | — |
| EGP | EASTGROUP PPTYS INC | $162.9M | 880,158 | 0.47% | — |
| WMT | WALMART INC | $162.9M | 1,310,670 | 0.47% | — |
| EPRT | ESSENTIAL PPTYS RLTY TR INC | $160.4M | 5,283,108 | 0.46% | — |
| QCOM | QUALCOMM INC | $152.9M | 1,187,359 | 0.44% | — |
| UDR | UDR INC | $150.4M | 4,453,170 | 0.43% | — |
| COST | COSTCO WHOLESALE CORPORATION | $148.6M | 149,179 | 0.43% | — |
| LAMR | LAMAR ADVERTISING CO | $147.8M | 1,166,939 | 0.43% | — |
| HR | HEALTHCARE RLTY TR | $143.1M | 8,422,975 | 0.41% | — |
| HST | HOST HOTELS & RESORTS INC | $142.5M | 7,434,999 | 0.41% | — |
| LLY | ELI LILLY & CO | $138.5M | 150,533 | 0.40% | — |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $138.2M | 288,342 | 0.40% | — |
| INVH | INVITATION HOMES INC | $136.3M | 5,485,116 | 0.39% | — |
| JNJ | JOHNSON & JOHNSON | $134.0M | 548,385 | 0.39% | — |
| EXMOC | EXXON MOBIL CORP | $132.1M | 778,677 | 0.38% | — |
| KRC | KILROY REALTY CORP | $131.0M | 4,643,089 | 0.38% | — |
| ADP | AUTOMATIC DATA PROCESSING IN | $123.9M | 610,039 | 0.36% | — |
| CAT | CATERPILLAR INC | $123.7M | 174,585 | 0.36% | — |
| V | VISA INC | $118.5M | 392,148 | 0.34% | — |
| IBN | ICICI BANK LIMITED | $115.9M | 4,474,438 | 0.33% | — |
| GS | GOLDMAN SACHS GROUP INC | $113.4M | 134,053 | 0.33% | — |
| OHI | OMEGA HEALTHCARE INVS INC | $111.7M | 2,548,984 | 0.32% | — |
| O | REALTY INCOME CORP | $109.1M | 1,783,981 | 0.32% | — |
| AMD | ADVANCED MICRO DEVICES INC | $105.3M | 517,408 | 0.30% | — |
| CSCO | CISCO SYS INC | $100.2M | 1,291,435 | 0.29% | — |
| QQQ | INVESCO QQQ TR | $98.3M | 170,245 | 0.28% | — |
| CVX | CHEVRON CORPORATION | $97.2M | 469,979 | 0.28% | — |
| GEV | GE VERNOVA INC | $90.4M | 103,525 | 0.26% | — |
| CURB | CURBLINE PPTYS CORP | $87.5M | 3,394,397 | 0.25% | — |
| MA | MASTERCARD INCORPORATED | $87.4M | 174,862 | 0.25% | — |
| AMGN | AMGEN INC | $85.5M | 243,124 | 0.25% | — |
| INTC | INTEL CORP | $84.8M | 1,920,650 | 0.24% | — |
| HD | HOME DEPOT INC | $84.5M | 256,959 | 0.24% | — |
| ABBV | ABBVIE INC | $79.1M | 363,737 | 0.23% | — |
| RHP | RYMAN HOSPITALITY PPTYS INC | $75.9M | 822,588 | 0.22% | — |
| LIN | LINDE PLC | $75.4M | 152,130 | 0.22% | — |
| AMAT | APPLIED MATLS INC | $74.5M | 217,905 | 0.21% | — |
| CTRE | CARETRUST REIT INC | $72.7M | 1,982,935 | 0.21% | — |
| PG | PROCTER & GAMBLE CO | $70.8M | 489,857 | 0.20% | — |
| KO | COCA COLA CO | $67.4M | 886,380 | 0.19% | — |
| PM | PHILIP MORRIS INTL INC | $67.0M | 405,338 | 0.19% | — |
| GE | GE AEROSPACE | $66.1M | 232,783 | 0.19% | — |
| INFY | INFOSYS LTD | $66.0M | 4,884,900 | 0.19% | — |
| MCD | MCDONALDS CORP | $64.3M | 206,912 | 0.19% | — |
| KLAC | KLA CORP | $62.5M | 42,435 | 0.18% | — |
| MRK | MERCK & CO INC | $61.8M | 513,752 | 0.18% | — |
| WY | WEYERHAEUSER CO | $60.7M | 2,484,971 | 0.18% | — |
| IBM | INTERNATIONAL BUSINESS MACHS | $59.4M | 244,993 | 0.17% | — |
| BAC | BANK AMERICA CORP | $58.2M | 1,194,156 | 0.17% | — |
| VZ | VERIZON COMMUNICATIONS INC | $56.8M | 1,131,389 | 0.16% | — |
| HONGBP | HONEYWELL INTL INC | $56.7M | 250,834 | 0.16% | — |
| AXP | AMERICAN EXPRESS CO | $56.3M | 186,062 | 0.16% | — |
| ISRG | INTUITIVE SURGICAL INC | $54.1M | 117,461 | 0.16% | — |
| TXN | TEXAS INSTRS INC | $53.4M | 275,191 | 0.15% | — |
| T | AT&T INC | $50.9M | 1,757,488 | 0.15% | — |
| CRM | SALESFORCE INC | $50.3M | 269,306 | 0.15% | — |
| ADI | ANALOG DEVICES INC | $49.9M | 156,967 | 0.14% | — |
| GILD | GILEAD SCIENCES INC | $46.8M | 335,572 | 0.13% | — |
| SOFI | SOFI TECHNOLOGIES INC | $45.7M | 2,878,986 | 0.13% | — |
| HIW | HIGHWOODS PPTYS INC | $45.0M | 2,102,346 | 0.13% | — |
| RTX | RTX CORPORATION | $44.2M | 229,059 | 0.13% | — |
| DHR | DANAHER CORP DEL | $43.8M | 231,170 | 0.13% | — |
| NEE | NEXTERA ENERGY INC | $43.1M | 464,510 | 0.12% | — |
| WFC | WELLS FARGO & CO | $43.1M | 541,429 | 0.12% | — |
| BA | BOEING CO | $43.0M | 216,135 | 0.12% | — |
| ADBE | ADOBE INC | $43.0M | 176,741 | 0.12% | — |
| INTU | INTUIT | $40.4M | 93,437 | 0.12% | — |
| SHW | SHERWIN WILLIAMS CO | $40.1M | 124,990 | 0.12% | — |
| MO | ALTRIA GROUP INC | $39.5M | 598,393 | 0.11% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $39.3M | 116,332 | 0.11% | — |
| DIS | DISNEY WALT CO | $37.4M | 388,049 | 0.11% | — |
| TT | TRANE TECHNOLOGIES PLC | $36.9M | 88,501 | 0.11% | — |
| TRV | TRAVELERS COMPANIES INC | $36.6M | 125,465 | 0.11% | — |
| PANW | PALO ALTO NETWORKS INC | $35.6M | 222,019 | 0.10% | — |
| TMO | THERMO FISHER SCIENTIFIC INC | $35.4M | 72,046 | 0.10% | — |
| C | CITIGROUP INC | $35.2M | 310,124 | 0.10% | — |
| MS | MORGAN STANLEY | $34.3M | 208,373 | 0.10% | — |
| JCI | JOHNSON CONTROLS INTERNATION | $34.2M | 261,295 | 0.10% | — |
| PWR | QUANTA SVCS INC | $34.1M | 62,166 | 0.10% | — |
| RRX | REGAL REXNORD CORPORATION | $34.1M | 182,061 | 0.10% | — |
| TJX | TJX COS INC NEW | $34.1M | 213,444 | 0.10% | — |
| ETN | EATON CORP PLC | $34.0M | 95,114 | 0.10% | — |
| AME | AMETEK INC | $33.2M | 154,948 | 0.10% | — |
| IEMG | ISHARES INC | $32.7M | 469,500 | 0.09% | — |
| AEP | AMERICAN ELEC PWR CO INC | $32.7M | 249,766 | 0.09% | — |
| SNPS | SYNOPSYS INC | $32.5M | 82,074 | 0.09% | — |
| PH | PARKER-HANNIFIN CORP | $32.4M | 36,200 | 0.09% | — |
| PGR | PROGRESSIVE CORP | $32.3M | 163,059 | 0.09% | — |
| APH | AMPHENOL CORP | $32.0M | 253,623 | 0.09% | — |
| KRMN | KARMAN HLDGS INC | $31.6M | 395,277 | 0.09% | — |
| ABT | ABBOTT LABORATORIES | $31.1M | 303,289 | 0.09% | — |
| CW | CURTISS WRIGHT CORP | $30.9M | 45,364 | 0.09% | — |
| APP | APPLOVIN CORP | $30.8M | 77,499 | 0.09% | — |
| UBER | UBER TECHNOLOGIES INC | $30.5M | 423,386 | 0.09% | — |
| VRTX | VERTEX PHARMACEUTICALS INC | $30.2M | 67,539 | 0.09% | — |
| CRWD | CROWDSTRIKE HLDGS INC | $30.0M | 76,825 | 0.09% | — |
| SCHW | SCHWAB CHARLES CORP | $29.6M | 314,809 | 0.09% | — |
| COP | CONOCOPHILLIPS | $29.1M | 220,463 | 0.08% | — |
| SITM | SITIME CORP | $29.0M | 84,019 | 0.08% | — |
| CB | CHUBB LTD SWITZ | $29.0M | 88,870 | 0.08% | — |
| BMY | BRISTOL-MYERS SQUIBB CO | $29.0M | 477,467 | 0.08% | — |
| ADSK | AUTODESK INC | $28.6M | 119,418 | 0.08% | — |
| RGEN | REPLIGEN CORP | $28.3M | 239,852 | 0.08% | — |
| REGN | REGENERON PHARMACEUTICALS | $28.2M | 36,525 | 0.08% | — |
| CMCSA | COMCAST CORP NEW | $27.6M | 960,469 | 0.08% | — |
| SBUX | STARBUCKS CORP | $27.4M | 305,759 | 0.08% | — |
| PFE | PFIZER INC | $27.3M | 970,940 | 0.08% | — |
| CDNS | CADENCE DESIGN SYSTEM INC | $27.0M | 97,255 | 0.08% | — |
| NOW | SERVICENOW INC | $26.8M | 255,953 | 0.08% | — |
| ANET | ARISTA NETWORKS INC | $26.7M | 217,839 | 0.08% | — |
| UNP | UNION PAC CORP | $26.6M | 109,481 | 0.08% | — |
| DUK | DUKE ENERGY CORP NEW | $26.4M | 201,462 | 0.08% | — |
| DE | DEERE & CO | $26.2M | 46,553 | 0.08% | — |
| CEG | CONSTELLATION ENERGY CORP | $25.5M | 91,170 | 0.07% | — |
| MMM | 3M CO | $25.4M | 175,124 | 0.07% | — |
| ORLY | OREILLY AUTOMOTIVE INC | $25.4M | 274,997 | 0.07% | — |
This table is the 150 largest positions by value, out of 1,113 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 63 options positions with a combined notional of $135.1M. 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 Daiwa Securities Group Inc. (CIK 1481045, accession 0001481045-26-000007). 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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