13F holdings
DEPRINCE RACE & ZOLLO INC portfolio
Managed by . 184 reported positions worth $5.3B as of 2026-03-31, filed with the SEC on 2026-04-24. Parsed from the filing itself, not a reseller.
$5.3B
Book value
184
Positions
16%
Top 10 weight
+27
New this quarter
-26
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 24 days old on 2026-04-24, 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 (27)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| RYN | RAYONIER INC | $85.8M | 4,159,595 | 1.62% |
| LPX | LOUISIANA PAC CORP | $56.6M | 777,956 | 1.07% |
| WHD | CACTUS INC | $41.9M | 884,418 | 0.79% |
| BOH | BANK HAWAII CORP | $34.4M | 463,100 | 0.65% |
| IPAR | INTERPARFUMS INC | $30.3M | 333,367 | 0.57% |
| MSFT | MICROSOFT CORP | $29.7M | 80,170 | 0.56% |
| SAP | SAP SE | $27.7M | 161,950 | 0.52% |
| ICE | INTERCONTINENTAL EXCHANGE IN | $27.5M | 175,030 | 0.52% |
| COLM | COLUMBIA SPORTSWEAR CO | $27.4M | 500,029 | 0.52% |
| AVY | AVERY DENNISON CORP | $26.8M | 155,172 | 0.51% |
| ABT | ABBOTT LABORATORIES | $25.2M | 244,980 | 0.48% |
| BYD | BOYD GAMING CORP | $21.8M | 265,398 | 0.41% |
| MGEE | MGE ENERGY INC | $21.4M | 277,117 | 0.40% |
| GBX | GREENBRIER COS INC | $20.3M | 385,800 | 0.38% |
| ATEN | A10 NETWORKS INC | $13.1M | 564,800 | 0.25% |
| CLX | CLOROX CO DEL | $12.9M | 124,717 | 0.24% |
| ASO | ACADEMY SPORTS & OUTDOORS IN | $10.9M | 193,450 | 0.21% |
| HY | HYSTER-YALE INC | $8.7M | 267,479 | 0.16% |
| PAC | GRUPO AEROPORTUNARIO DEL PAC | $7.2M | 29,144 | 0.14% |
| BVN | COMPANIA DE MINAS BUENAVENTU | $5.3M | 146,786 | 0.10% |
| IOSP | INNOSPEC INC | $5.0M | 68,029 | 0.09% |
| OXM | OXFORD INDS INC | $4.7M | 120,954 | 0.09% |
| FELE | FRANKLIN ELEC INC | $4.0M | 43,117 | 0.08% |
| MNRO | MONRO INC | $3.1M | 191,959 | 0.06% |
| MLR | MILLER INDS INC TENN | $2.6M | 58,140 | 0.05% |
Closed out (26)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| PCH | POTLATCHDELTIC CORPORATION | $93.9M | 2,359,326 | 0.00% |
| ENS | ENERSYS | $81.3M | 553,783 | 0.00% |
| PZZA | PAPA JOHNS INTL INC | $63.8M | 1,657,994 | 0.00% |
| OLED | UNIVERSAL DISPLAY CORP | $50.0M | 428,335 | 0.00% |
| BWA | BORGWARNER INC | $45.4M | 1,008,171 | 0.00% |
| WFRD | WEATHERFORD INTL PLC | $42.1M | 537,851 | 0.00% |
| APOG | APOGEE ENTERPRISES INC | $31.0M | 852,351 | 0.00% |
| SON | SONOCO PRODS CO | $28.6M | 655,339 | 0.00% |
| IDA | IDACORP INC | $26.2M | 206,923 | 0.00% |
| QCOM | QUALCOMM INC | $25.9M | 151,267 | 0.00% |
| HP | HELMERICH & PAYNE INC | $23.1M | 806,151 | 0.00% |
| REXR | REXFORD INDL RLTY INC | $21.8M | 562,507 | 0.00% |
| HST | HOST HOTELS & RESORTS INC | $21.3M | 1,199,649 | 0.00% |
| NBTB | NBT BANCORP INC | $20.6M | 496,089 | 0.00% |
| GDEN | GOLDEN ENTMT INC | $18.5M | 681,469 | 0.00% |
| CINF | CINCINNATI FINL CORP | $16.5M | 100,755 | 0.00% |
| HLIO | HELIOS TECHNOLOGIES INC | $12.5M | 233,025 | 0.00% |
| GPK | GRAPHIC PACKAGING HLDG CO | $11.6M | 772,811 | 0.00% |
| KLIC | KULICKE & SOFFA INDS INC | $10.3M | 225,583 | 0.00% |
| CALAVO GROWERS INC | CALAVO GROWERS INC | $8.9M | 410,469 | 0.00% |
| WTRG | ESSENTIAL UTILS INC | $8.9M | 231,228 | 0.00% |
| INFY | INFOSYS LTD | $7.6M | 423,904 | 0.00% |
| CLAR | CLARUS CORP NEW | $3.9M | 1,169,606 | 0.00% |
| CCS | CENTURY CMNTYS INC | $2.0M | 34,432 | 0.00% |
| AEO | AMERICAN EAGLE OUTFITTERS IN | $345,289 | 13,094 | 0.00% |
Added to (53)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| WERN | WERNER ENTERPRISES INC | $89.8M | 3,055,017 | 1.70% | +11% |
| GBCI | GLACIER BANCORP INC NEW | $84.2M | 1,885,725 | 1.59% | +13% |
| WH | WYNDHAM HOTELS & RESORTS INC | $77.8M | 957,559 | 1.47% | +229% |
| PRMB | PRIMO BRANDS CORPORATION | $72.2M | 3,833,041 | 1.36% | +442% |
| SSB | SOUTHSTATE BK CORP | $67.4M | 728,548 | 1.27% | +346% |
| SMG | SCOTTS MIRACLE-GRO CO | $66.1M | 1,087,339 | 1.25% | +5% |
| MSM | MSC INDL DIRECT INC | $65.1M | 705,775 | 1.23% | +43% |
| VSH | VISHAY INTERTECHNOLOGY INC | $57.3M | 3,181,050 | 1.08% | +8% |
| SNDR | SCHNEIDER NATIONAL INC | $56.9M | 2,160,106 | 1.08% | +18% |
| FBK | FB FINL CORP | $53.8M | 1,036,393 | 1.02% | +9% |
| UFPI | UFP INDUSTRIES INC | $53.4M | 579,797 | 1.01% | +27% |
| MTCH | MATCH GROUP INC NEW | $47.6M | 1,549,147 | 0.90% | +97% |
| SCL | STEPAN CO | $47.4M | 947,452 | 0.89% | +5% |
| CFR | CULLEN FROST BANKERS INC | $45.0M | 328,489 | 0.85% | +2% |
| LHX | L3HARRIS TECHNOLOGIES INC | $43.5M | 126,047 | 0.82% | +5% |
Trimmed (77)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| WTI | W & T OFFSHORE INC | $390,124 | 114,406 | 0.01% | -92% |
| SNDK | SANDISK CORP | $23.6M | 37,167 | 0.45% | -71% |
| KALU | KAISER ALUMINIUM CORPORATION | $1.8M | 14,742 | 0.03% | -69% |
| KMT | KENNAMETAL INC | $17.7M | 490,023 | 0.33% | -64% |
| SFBS | SERVISFIRST BANCSHARES INC | $17.0M | 233,777 | 0.32% | -56% |
| LW | LAMB WESTON HLDGS INC | $15.3M | 362,327 | 0.29% | -54% |
| NNN | NNN REIT INC | $24.2M | 575,208 | 0.46% | -44% |
| WDC | WESTERN DIGITAL CORP | $32.0M | 118,245 | 0.60% | -35% |
| KBH | KB HOME | $35.7M | 690,251 | 0.67% | -35% |
| JOUT | JOHNSON OUTDOORS INC | $8.1M | 174,998 | 0.15% | -34% |
| COP | CONOCOPHILLIPS | $25.5M | 193,071 | 0.48% | -34% |
| OMC | OMNICOM GROUP INC | $26.7M | 354,761 | 0.50% | -32% |
| FCX | FREEPORT MCMORAN INC | $40.6M | 690,145 | 0.77% | -29% |
| HDB | HDFC BANK LTD | $5.9M | 237,344 | 0.11% | -28% |
| SCCO | SOUTHERN COPPER CORP | $8.5M | 49,688 | 0.16% | -27% |
The book
Largest 150 of 184 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| BC | BRUNSWICK CORP | $119.3M | 1,639,183 | 2.25% | — |
| WERN | WERNER ENTERPRISES INC | $89.8M | 3,055,017 | 1.70% | — |
| RYN | RAYONIER INC | $85.8M | 4,159,595 | 1.62% | — |
| GBCI | GLACIER BANCORP INC NEW | $84.2M | 1,885,725 | 1.59% | — |
| C | CITIGROUP INC | $78.3M | 690,170 | 1.48% | — |
| INDB | INDEPENDENT BK CORP MASS | $77.9M | 1,036,188 | 1.47% | — |
| WH | WYNDHAM HOTELS & RESORTS INC | $77.8M | 957,559 | 1.47% | — |
| FLS | FLOWSERVE CORP | $77.0M | 1,047,200 | 1.45% | — |
| PRMB | PRIMO BRANDS CORPORATION | $72.2M | 3,833,041 | 1.36% | — |
| WFC | WELLS FARGO & CO | $68.6M | 862,227 | 1.30% | — |
| SBCF | SEACOAST BKG CORP FLA | $67.8M | 2,237,739 | 1.28% | — |
| JPM | JPMORGAN CHASE & CO | $67.6M | 229,747 | 1.28% | — |
| SSB | SOUTHSTATE BK CORP | $67.4M | 728,548 | 1.27% | — |
| IEX | IDEX CORP | $66.2M | 349,496 | 1.25% | — |
| SMG | SCOTTS MIRACLE-GRO CO | $66.1M | 1,087,339 | 1.25% | — |
| MSM | MSC INDL DIRECT INC | $65.1M | 705,775 | 1.23% | — |
| JNJ | JOHNSON & JOHNSON | $63.8M | 260,858 | 1.20% | — |
| NWL | NEWELL BRANDS INC | $63.1M | 18,385,859 | 1.19% | — |
| VSH | VISHAY INTERTECHNOLOGY INC | $57.3M | 3,181,050 | 1.08% | — |
| SNDR | SCHNEIDER NATIONAL INC | $56.9M | 2,160,106 | 1.08% | — |
| UNP | UNION PAC CORP | $56.9M | 234,467 | 1.07% | — |
| LPX | LOUISIANA PAC CORP | $56.6M | 777,956 | 1.07% | — |
| TKR | TIMKEN CO | $55.9M | 555,387 | 1.06% | — |
| DLX | DELUXE CORP MEDIUM TERM NTS | $54.4M | 1,975,849 | 1.03% | — |
| FBK | FB FINL CORP | $53.8M | 1,036,393 | 1.02% | — |
| WTTR | SELECT WATER SOLUTIONS INC | $53.8M | 3,517,163 | 1.02% | — |
| GEF | GREIF INC | $53.5M | 797,912 | 1.01% | — |
| UFPI | UFP INDUSTRIES INC | $53.4M | 579,797 | 1.01% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $52.6M | 155,671 | 0.99% | — |
| KGS | KODIAK GAS SVCS INC | $52.6M | 901,371 | 0.99% | — |
| RHI | ROBERT HALF INC. | $49.8M | 1,959,962 | 0.94% | — |
| MTCH | MATCH GROUP INC NEW | $47.6M | 1,549,147 | 0.90% | — |
| SCL | STEPAN CO | $47.4M | 947,452 | 0.89% | — |
| CFR | CULLEN FROST BANKERS INC | $45.0M | 328,489 | 0.85% | — |
| EXMOC | EXXON MOBIL CORP | $44.9M | 264,700 | 0.85% | — |
| FUL | FULLER H B CO | $44.9M | 727,546 | 0.85% | — |
| PH | PARKER-HANNIFIN CORP | $44.9M | 50,115 | 0.85% | — |
| VFC | V F CORP | $44.0M | 2,590,391 | 0.83% | — |
| LHX | L3HARRIS TECHNOLOGIES INC | $43.5M | 126,047 | 0.82% | — |
| FITB | FIFTH THIRD BANCORP | $43.3M | 931,824 | 0.82% | — |
| KNX | KNIGHT-SWIFT TRANSN HLDGS IN | $42.5M | 738,749 | 0.80% | — |
| RTX | RTX CORPORATION | $42.2M | 218,995 | 0.80% | — |
| WHD | CACTUS INC | $41.9M | 884,418 | 0.79% | — |
| USB | US BANCORP | $41.7M | 802,012 | 0.79% | — |
| EG | EVEREST GROUP LTD | $41.6M | 127,428 | 0.79% | — |
| NBHC | NATIONAL BK HLDGS CORP | $41.6M | 1,062,271 | 0.79% | — |
| EMR | EMERSON ELEC CO | $41.4M | 316,238 | 0.78% | — |
| EXE | EXPAND ENERGY CORPORATION | $40.9M | 372,833 | 0.77% | — |
| MDLZ | MONDELEZ INTL INC | $40.7M | 706,831 | 0.77% | — |
| TTC | TORO CO | $40.7M | 435,589 | 0.77% | — |
| ALL | ALLSTATE CORP | $40.6M | 195,671 | 0.77% | — |
| FCX | FREEPORT MCMORAN INC | $40.6M | 690,145 | 0.77% | — |
| EMN | EASTMAN CHEM CO | $37.9M | 496,124 | 0.72% | — |
| RPM | RPM INTL INC | $37.3M | 375,644 | 0.71% | — |
| IFF | INTERNATIONAL FLAVORS&FRAGRA | $37.2M | 513,376 | 0.70% | — |
| HIG | HARTFORD INSURANCE GROUP INC | $36.5M | 269,686 | 0.69% | — |
| JCI | JOHNSON CONTROLS INTERNATION | $36.2M | 276,530 | 0.68% | — |
| AVNT | AVIENT CORPORATION | $36.1M | 994,020 | 0.68% | — |
| HUBG | HUB GROUP INC | $36.0M | 999,050 | 0.68% | — |
| MLKN | MILLERKNOLL INC | $35.8M | 2,476,206 | 0.68% | — |
| KBH | KB HOME | $35.7M | 690,251 | 0.67% | — |
| RNST | RENASANT CORP | $35.3M | 976,243 | 0.67% | — |
| MKC | MCCORMICK & CO INC | $35.1M | 694,914 | 0.66% | — |
| POOL | POOL CORP | $34.5M | 170,676 | 0.65% | — |
| BOH | BANK HAWAII CORP | $34.4M | 463,100 | 0.65% | — |
| NOG | NORTHERN OIL & GAS INC | $34.2M | 1,169,115 | 0.65% | — |
| VAC | MARRIOTT VACATIONS WORLDWIDE | $34.1M | 524,247 | 0.64% | — |
| HONGBP | HONEYWELL INTL INC | $34.1M | 151,027 | 0.64% | — |
| KWR | QUAKER HOUGHTON | $34.0M | 273,889 | 0.64% | — |
| WY | WEYERHAEUSER CO | $33.9M | 1,386,011 | 0.64% | — |
| NX | QUANEX BLDG PRODS CORP | $33.1M | 1,844,405 | 0.63% | — |
| ELV | ELEVANCE HEALTH INC FORMERLY | $32.9M | 112,360 | 0.62% | — |
| GS | GOLDMAN SACHS GROUP INC | $32.6M | 38,557 | 0.62% | — |
| HLNE | HAMILTON LANE INC | $32.4M | 325,465 | 0.61% | — |
| WD | WALKER & DUNLOP INC | $32.3M | 728,463 | 0.61% | — |
| CARR | CARRIER GLOBAL CORPORATION | $32.2M | 572,588 | 0.61% | — |
| WDC | WESTERN DIGITAL CORP | $32.0M | 118,245 | 0.60% | — |
| TFC | TRUIST FINL CORP | $31.7M | 688,601 | 0.60% | — |
| CBU | COMMUNITY FINANCIAL SYSTEM I | $31.1M | 530,874 | 0.59% | — |
| IPAR | INTERPARFUMS INC | $30.3M | 333,367 | 0.57% | — |
| MSFT | MICROSOFT CORP | $29.7M | 80,170 | 0.56% | — |
| MRSH | MARSH & MCLENNAN COS INC | $29.5M | 170,276 | 0.56% | — |
| CMCSA | COMCAST CORP NEW | $29.4M | 1,022,776 | 0.55% | — |
| CVX | CHEVRON CORPORATION | $29.1M | 140,791 | 0.55% | — |
| BANR | BANNER CORP | $28.8M | 475,352 | 0.54% | — |
| THO | THOR INDS INC | $28.6M | 357,976 | 0.54% | — |
| TRGP | TARGA RES CORP | $27.9M | 111,308 | 0.53% | — |
| SAP | SAP SE | $27.7M | 161,950 | 0.52% | — |
| ICE | INTERCONTINENTAL EXCHANGE IN | $27.5M | 175,030 | 0.52% | — |
| DTE | DTE ENERGY CO | $27.4M | 187,521 | 0.52% | — |
| COLM | COLUMBIA SPORTSWEAR CO | $27.4M | 500,029 | 0.52% | — |
| AVY | AVERY DENNISON CORP | $26.8M | 155,172 | 0.51% | — |
| OMC | OMNICOM GROUP INC | $26.7M | 354,761 | 0.50% | — |
| UPS | UNITED PARCEL SVCS INC | $26.3M | 267,596 | 0.50% | — |
| AIZ | ASSURANT INC | $26.3M | 120,545 | 0.50% | — |
| NXPI | NXP SEMICONDUCTORS N V | $25.9M | 131,771 | 0.49% | — |
| CG | CARLYLE GROUP INC | $25.5M | 527,290 | 0.48% | — |
| COP | CONOCOPHILLIPS | $25.5M | 193,071 | 0.48% | — |
| ABT | ABBOTT LABORATORIES | $25.2M | 244,980 | 0.48% | — |
| BALL | BALL CORP | $25.1M | 425,218 | 0.47% | — |
| ACN | ACCENTURE PLC IRELAND | $24.5M | 123,508 | 0.46% | — |
| NNN | NNN REIT INC | $24.2M | 575,208 | 0.46% | — |
| NEE | NEXTERA ENERGY INC | $23.9M | 257,250 | 0.45% | — |
| WLK | WESTLAKE CORPORATION | $23.8M | 203,366 | 0.45% | — |
| SNDK | SANDISK CORP | $23.6M | 37,167 | 0.45% | — |
| ADI | ANALOG DEVICES INC | $23.2M | 72,837 | 0.44% | — |
| AIN | ALBANY INTL CORP | $22.9M | 439,053 | 0.43% | — |
| CCK | CROWN HLDGS INC | $22.0M | 219,278 | 0.42% | — |
| NTST | NETSTREIT CORP | $21.9M | 1,161,665 | 0.41% | — |
| IVT | INVENTRUST PPTYS CORP | $21.9M | 717,682 | 0.41% | — |
| BYD | BOYD GAMING CORP | $21.8M | 265,398 | 0.41% | — |
| MGEE | MGE ENERGY INC | $21.4M | 277,117 | 0.40% | — |
| COF | CAPITAL ONE FINL CORP | $21.3M | 116,549 | 0.40% | — |
| GBX | GREENBRIER COS INC | $20.3M | 385,800 | 0.38% | — |
| FAF | FIRST AMERN FINL CORP | $18.1M | 299,780 | 0.34% | — |
| WGO | WINNEBAGO INDS INC | $17.8M | 573,448 | 0.34% | — |
| KMT | KENNAMETAL INC | $17.7M | 490,023 | 0.33% | — |
| SFBS | SERVISFIRST BANCSHARES INC | $17.0M | 233,777 | 0.32% | — |
| GM | GENERAL MTRS CO | $16.9M | 227,163 | 0.32% | — |
| LW | LAMB WESTON HLDGS INC | $15.3M | 362,327 | 0.29% | — |
| BAP | CREDICORP LTD | $14.6M | 42,957 | 0.28% | — |
| KFRC | KFORCE INC | $13.6M | 466,110 | 0.26% | — |
| ATEN | A10 NETWORKS INC | $13.1M | 564,800 | 0.25% | — |
| CLX | CLOROX CO DEL | $12.9M | 124,717 | 0.24% | — |
| NTAP | NETAPP INC | $12.2M | 119,130 | 0.23% | — |
| TNC | TENNANT CO | $12.2M | 183,084 | 0.23% | — |
| IBN | ICICI BANK LIMITED | $12.0M | 462,784 | 0.23% | — |
| LKQ | LKQ CORP | $11.9M | 405,247 | 0.22% | — |
| SNN | SMITH & NEPHEW PLC | $11.4M | 360,049 | 0.22% | — |
| ASO | ACADEMY SPORTS & OUTDOORS IN | $10.9M | 193,450 | 0.21% | — |
| LECO | LINCOLN ELEC HLDGS INC | $10.3M | 41,425 | 0.19% | — |
| MRTN | MARTEN TRANS LTD | $10.1M | 767,686 | 0.19% | — |
| GABC | GERMAN AMERN BANCORP INC | $9.8M | 233,513 | 0.18% | — |
| ITUB | ITAU UNIBANCO HLDG S A | $9.2M | 1,092,846 | 0.17% | — |
| HY | HYSTER-YALE INC | $8.7M | 267,479 | 0.16% | — |
| CX | CEMEX SA EURO MTN BE 144A | $8.7M | 759,338 | 0.16% | — |
| SCCO | SOUTHERN COPPER CORP | $8.5M | 49,688 | 0.16% | — |
| SYBT | STOCK YDS BANCORP INC | $8.4M | 126,497 | 0.16% | — |
| JOUT | JOHNSON OUTDOORS INC | $8.1M | 174,998 | 0.15% | — |
| PBR/A | PETROLEO BRASILEIRO S A | $7.9M | 422,169 | 0.15% | — |
| PAC | GRUPO AEROPORTUNARIO DEL PAC | $7.2M | 29,144 | 0.14% | — |
| MMI | MARCUS & MILLICHAP INC | $6.8M | 257,172 | 0.13% | — |
| ASIX | ADVANSIX INC | $6.7M | 275,482 | 0.13% | — |
| BSAC | BANCO SANTANDER CHILE NEW | $6.5M | 193,499 | 0.12% | — |
| TOWN | TOWNEBANK PORTSMOUTH VA | $6.4M | 189,953 | 0.12% | — |
| CHCT | COMMUNITY HEALTHCARE TR INC | $6.2M | 388,614 | 0.12% | — |
| VNOM | VIPER ENERGY INC | $6.0M | 126,757 | 0.11% | — |
| HDB | HDFC BANK LTD | $5.9M | 237,344 | 0.11% | — |
| FSBC | FIVE STAR BANCORP | $5.9M | 155,274 | 0.11% | — |
| MOV | MOVADO GROUP INC | $5.4M | 221,761 | 0.10% | — |
This table is the 150 largest positions by value, out of 184 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 DEPRINCE RACE & ZOLLO INC (CIK 1008894, accession 0001172661-26-001532). 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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