13F holdings
FIRST TRUST ADVISORS LP portfolio
Managed by . 2,602 reported positions worth $140.0B as of 2026-03-31, filed with the SEC on 2026-05-13. Parsed from the filing itself, not a reseller.
$140.0B
Book value
2,602
Positions
10%
Top 10 weight
+119
New this quarter
-141
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 (119)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| FXN | FIRST TR EXCHANGE-TRADED FD | $672.4M | 29,937,777 | 0.48% |
| FTXR | FIRST TR EXCHANGE TRADED FD | $669.3M | 17,561,577 | 0.48% |
| AMCR | AMCOR PLC | $106.7M | 2,683,095 | 0.08% |
| PNFP | PINNACLE FINL PARTNERS INC | $57.2M | 664,345 | 0.04% |
| AZN | ASTRAZENECA PLC | $48.7M | 247,584 | 0.03% |
| NEO | NEOGENOMICS INC | $45.7M | 6,162,371 | 0.03% |
| IPGP | IPG PHOTONICS CORP | $15.0M | 130,492 | 0.01% |
| AGCO | AGCO CORP | $13.2M | 114,080 | 0.01% |
| GLOBAL SHIP LEASE INC | GLOBAL SHIP LEASE INC | $12.7M | 340,621 | 0.01% |
| FIG | FIGMA INC | $11.9M | 560,743 | 0.01% |
| QGEN | QIAGEN NV | $10.6M | 265,810 | 0.01% |
| DEC | DIVERSIFIED ENERGY CO | $10.5M | 604,692 | 0.01% |
| VG | VENTURE GLOBAL INC | $9.2M | 584,183 | 0.01% |
| SYRE | SPYRE THERAPEUTICS INC | $9.0M | 178,389 | 0.01% |
| FRPT | FRESHPET INC | $8.7M | 146,820 | 0.01% |
| LGLV | SPDR SERIES TRUST | $8.0M | 44,887 | 0.01% |
| FDLO | FIDELITY COVINGTON TRUST | $8.0M | 123,227 | 0.01% |
| PBR | PETROLEO BRASILEIRO S A | $7.6M | 365,207 | 0.01% |
| TNDM | TANDEM DIABETES CARE INC | $6.6M | 342,707 | 0.00% |
| BIL | SPDR SERIES TRUST | $6.5M | 70,557 | 0.00% |
| ATHM | AUTOHOME INC | $5.7M | 328,977 | 0.00% |
| PBF | PBF ENERGY INC | $5.3M | 112,152 | 0.00% |
| HAE | HAEMONETICS CORP MASS | $5.1M | 90,263 | 0.00% |
| TWST | TWIST BIOSCIENCE CORP | $5.0M | 104,650 | 0.00% |
| UNIT | UNITI GROUP LLC | $4.2M | 448,091 | 0.00% |
Closed out (141)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| FXO | FIRST TR EXCHANGE TRADED FD | $765.4M | 12,683,088 | 0.00% |
| FXU | FIRST TR EXCHANGE TRADED FD | $760.7M | 16,901,242 | 0.00% |
| 8QR | CONFLUENT INC | $112.4M | 3,716,584 | 0.00% |
| CADE | CADENCE BANK | $93.0M | 2,171,915 | 0.00% |
| AMCR | AMCOR PLC | $90.2M | 10,813,925 | 0.00% |
| EXK | EXACT SCIENCES CORP | $81.5M | 802,119 | 0.00% |
| AZNN | ASTRAZENECA PLC | $80.1M | 871,656 | 0.00% |
| PINNACLE FINL PARTNERS I | PINNACLE FINL PARTNERS INC | $61.1M | 640,304 | 0.00% |
| CMA | COMERICA INC | $42.1M | 483,971 | 0.00% |
| RPD | RAPID7 INC | $35.4M | 2,326,056 | 0.00% |
| IWV | ISHARES TR | $27.6M | 71,474 | 0.00% |
| CCOI | COGENT COMMUNICATIONS HLDGS | $25.4M | 1,177,398 | 0.00% |
| FRHC | FREEDOM HLDG CORP NEV | $24.9M | 204,723 | 0.00% |
| PGX | INVESCO EXCH TRADED FD TR II | $22.1M | 1,966,427 | 0.00% |
| FYC | FIRST TR EXCHANGE-TRADED ALP | $20.8M | 216,354 | 0.00% |
| BAC 7.25 PERP L | BANK AMERICA CORP | $17.4M | 13,936 | 0.00% |
| CIVI | CIVITAS RESOURCES INC | $14.7M | 542,440 | 0.00% |
| CDTX | CIDARA THERAPEUTICS INC | $13.2M | 59,551 | 0.00% |
| QGEN | QIAGEN NV | $12.1M | 270,044 | 0.00% |
| SPT | SPROUT SOCIAL INC | $11.6M | 1,028,538 | 0.00% |
| AVDL | AVADEL PHARMACEUTICALS PLC | $11.1M | 513,928 | 0.00% |
| IWB | ISHARES TR | $8.6M | 23,129 | 0.00% |
| 1RG | REV GROUP INC | $8.6M | 141,430 | 0.00% |
| AM6 | AMICUS THERAPEUTICS INC | $7.6M | 533,507 | 0.00% |
| DOMO | DOMO INC | $6.3M | 748,246 | 0.00% |
Added to (1363)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | $1.8B | 10,426,580 | 1.30% | +5% |
| AVGO | BROADCOM INC | $1.6B | 5,175,717 | 1.14% | +9% |
| MSFT | MICROSOFT CORP | $1.5B | 4,131,891 | 1.09% | +14% |
| AAPL | APPLE INC | $1.3B | 5,213,875 | 0.95% | +21% |
| PANW | PALO ALTO NETWORKS INC | $1.0B | 6,466,118 | 0.74% | +4% |
| CRWD | CROWDSTRIKE HLDGS INC | $1.0B | 2,584,496 | 0.72% | +17% |
| FTNT | FORTINET INC | $940.3M | 11,506,173 | 0.67% | +46% |
| CVX | CHEVRON CORPORATION | $885.3M | 4,278,833 | 0.63% | +4% |
| GEV | GE VERNOVA INC | $836.8M | 958,698 | 0.60% | +15% |
| ETN | EATON CORP PLC | $821.5M | 2,296,924 | 0.59% | +39% |
| IBM | INTERNATIONAL BUSINESS MACHS | $807.3M | 3,330,537 | 0.58% | +50% |
| ROST | ROSS STORES INC | $800.3M | 3,694,269 | 0.57% | +6% |
| JCI | JOHNSON CONTROLS INTERNATION | $754.5M | 5,761,677 | 0.54% | +28% |
| SNA | SNAP ON INC | $738.5M | 2,033,129 | 0.53% | +3% |
| FBT | FIRST TR EXCHANGE-TRADED FD | $705.9M | 3,515,093 | 0.50% | +49661% |
Trimmed (928)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| TGLS | TECNOGLASS INC | $261,196 | 5,863 | 0.00% | -100% |
| FDN | FIRST TR EXCHANGE-TRADED FD | $5.0M | 21,559 | 0.00% | -99% |
| AVTR | AVANTOR INC | $230,307 | 29,376 | 0.00% | -99% |
| TFX | TELEFLEX INCORPORATED | $312,899 | 2,616 | 0.00% | -98% |
| BIO | BIO RAD LABS INC | $424,257 | 1,522 | 0.00% | -97% |
| HCC | WARRIOR MET COAL INC | $1.0M | 11,265 | 0.00% | -97% |
| SHOO | MADDEN STEVEN LTD | $595,838 | 17,566 | 0.00% | -97% |
| AL | AIR LEASE CORP | $334,647 | 5,153 | 0.00% | -97% |
| LMB | LIMBACH HLDGS INC | $1.2M | 15,655 | 0.00% | -96% |
| JHX | JAMES HARDIE INDS PLC | $229,514 | 12,118 | 0.00% | -96% |
| EQH | EQUITABLE HLDGS INC | $3.1M | 83,657 | 0.00% | -96% |
| MIDD | MIDDLEBY CORP | $517,459 | 3,903 | 0.00% | -96% |
| SDA | SEALED AIR CORP NEW | $359,048 | 8,539 | 0.00% | -95% |
| LYV | LIVE NATION ENTERTAINMENT IN | $9.3M | 61,059 | 0.01% | -95% |
| BAM | BROOKFIELD ASSET MANAGMT LTD | $289,219 | 6,507 | 0.00% | -95% |
The book
Largest 150 of 2,602 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | $1.8B | 10,426,580 | 1.30% | — |
| CSCO | CISCO SYS INC | $1.7B | 22,139,390 | 1.23% | — |
| AVGO | BROADCOM INC | $1.6B | 5,175,717 | 1.14% | — |
| MSFT | MICROSOFT CORP | $1.5B | 4,131,891 | 1.09% | — |
| GOOGL | ALPHABET INC | $1.4B | 4,897,499 | 1.01% | — |
| AAPL | APPLE INC | $1.3B | 5,213,875 | 0.95% | — |
| META | META PLATFORMS INC | $1.1B | 1,883,184 | 0.77% | — |
| EXMOC | EXXON MOBIL CORP | $1.0B | 6,182,355 | 0.75% | — |
| PANW | PALO ALTO NETWORKS INC | $1.0B | 6,466,118 | 0.74% | — |
| CRWD | CROWDSTRIKE HLDGS INC | $1.0B | 2,584,496 | 0.72% | — |
| FTNT | FORTINET INC | $940.3M | 11,506,173 | 0.67% | — |
| AMZN | AMAZON COM INC | $902.9M | 4,335,130 | 0.65% | — |
| LRCX | LAM RESEARCH CORP | $902.8M | 4,225,554 | 0.65% | — |
| CVX | CHEVRON CORPORATION | $885.3M | 4,278,833 | 0.63% | — |
| AMAT | APPLIED MATLS INC | $885.0M | 2,589,257 | 0.63% | — |
| GEV | GE VERNOVA INC | $836.8M | 958,698 | 0.60% | — |
| KLAC | KLA CORP | $833.2M | 565,850 | 0.60% | — |
| ETN | EATON CORP PLC | $821.5M | 2,296,924 | 0.59% | — |
| IBM | INTERNATIONAL BUSINESS MACHS | $807.3M | 3,330,537 | 0.58% | — |
| ROST | ROSS STORES INC | $800.3M | 3,694,269 | 0.57% | — |
| NET | CLOUDFLARE INC | $778.7M | 3,774,026 | 0.56% | — |
| JCI | JOHNSON CONTROLS INTERNATION | $754.5M | 5,761,677 | 0.54% | — |
| SNA | SNAP ON INC | $738.5M | 2,033,129 | 0.53% | — |
| VZ | VERIZON COMMUNICATIONS INC | $738.3M | 14,707,701 | 0.53% | — |
| FBT | FIRST TR EXCHANGE-TRADED FD | $705.9M | 3,515,093 | 0.50% | — |
| CRM | SALESFORCE INC | $693.1M | 3,712,868 | 0.50% | — |
| ACN | ACCENTURE PLC IRELAND | $690.5M | 3,482,150 | 0.49% | — |
| COST | COSTCO WHOLESALE CORPORATION | $689.8M | 692,252 | 0.49% | — |
| FXN | FIRST TR EXCHANGE-TRADED FD | $672.4M | 29,937,777 | 0.48% | — |
| FTXR | FIRST TR EXCHANGE TRADED FD | $669.3M | 17,561,577 | 0.48% | — |
| JPM | JPMORGAN CHASE & CO | $657.9M | 2,236,537 | 0.47% | — |
| MISL | FIRST TR EXCHANGE-TRADED FD | $656.9M | 14,692,155 | 0.47% | — |
| FTXL | FIRST TR EXCHANGE TRADED FD | $647.7M | 4,392,245 | 0.46% | — |
| MPWR | MONOLITHIC PWR SYS INC | $646.6M | 591,353 | 0.46% | — |
| MLI | MUELLER INDS INC | $619.8M | 5,594,217 | 0.44% | — |
| PEP | PEPSICO INC | $615.6M | 3,964,236 | 0.44% | — |
| BKNG | BOOKING HOLDINGS INC | $593.3M | 140,909 | 0.42% | — |
| BKR | BAKER HUGHES COMPANY | $590.0M | 9,663,737 | 0.42% | — |
| PNC | PNC FINL SVCS GROUP INC | $586.1M | 2,816,605 | 0.42% | — |
| FIX | COMFORT SYS USA INC | $573.5M | 415,886 | 0.41% | — |
| PFE | PFIZER INC | $573.5M | 20,422,958 | 0.41% | — |
| V | VISA INC | $565.4M | 1,870,705 | 0.40% | — |
| PWR | QUANTA SVCS INC | $551.2M | 1,003,917 | 0.39% | — |
| GE | GE AEROSPACE | $550.7M | 1,940,719 | 0.39% | — |
| AKAM | AKAMAI TECHNOLOGIES INC | $549.0M | 4,780,460 | 0.39% | — |
| VLTO | VERALTO CORP | $543.8M | 6,150,388 | 0.39% | — |
| NFLX | NETFLIX INC. | $537.8M | 5,593,167 | 0.38% | — |
| MRK | MERCK & CO INC | $537.2M | 4,465,569 | 0.38% | — |
| ORCL | ORACLE CORP | $534.5M | 3,633,070 | 0.38% | — |
| ANET | ARISTA NETWORKS INC | $531.4M | 4,328,274 | 0.38% | — |
| CB | CHUBB LTD SWITZ | $523.4M | 1,605,984 | 0.37% | — |
| JNJ | JOHNSON & JOHNSON | $515.5M | 2,108,927 | 0.37% | — |
| QCOM | QUALCOMM INC | $514.9M | 3,998,634 | 0.37% | — |
| BNY | BANK NEW YORK MELLON CORP | $511.4M | 4,310,788 | 0.37% | — |
| ADP | AUTOMATIC DATA PROCESSING IN | $507.5M | 2,497,861 | 0.36% | — |
| PHM | PULTE GROUP INC | $507.4M | 4,314,501 | 0.36% | — |
| TXN | TEXAS INSTRS INC | $503.4M | 2,592,788 | 0.36% | — |
| EOG | EOG RES INC | $498.2M | 3,446,002 | 0.36% | — |
| TRV | TRAVELERS COMPANIES INC | $497.4M | 1,705,401 | 0.36% | — |
| MA | MASTERCARD INCORPORATED | $496.0M | 992,696 | 0.35% | — |
| ZS | ZSCALER INC | $493.6M | 3,518,678 | 0.35% | — |
| WSM | WILLIAMS SONOMA INC | $485.8M | 2,664,580 | 0.35% | — |
| BAC | BANK AMERICA CORP | $485.2M | 9,952,583 | 0.35% | — |
| HIG | HARTFORD INSURANCE GROUP INC | $468.1M | 3,461,607 | 0.33% | — |
| DOV | DOVER CORP | $467.3M | 2,241,753 | 0.33% | — |
| TSLA | TESLA INC | $465.5M | 1,252,229 | 0.33% | — |
| EME | EMCOR GROUP INC | $465.4M | 630,406 | 0.33% | — |
| ALL | ALLSTATE CORP | $463.0M | 2,232,938 | 0.33% | — |
| MTZ | MASTEC INC | $454.2M | 1,411,584 | 0.32% | — |
| MO | ALTRIA GROUP INC | $443.0M | 6,713,303 | 0.32% | — |
| AMP | AMERIPRISE FINL INC | $436.9M | 983,096 | 0.31% | — |
| GILD | GILEAD SCIENCES INC | $436.2M | 3,129,637 | 0.31% | — |
| DDOG | DATADOG INC | $435.1M | 3,685,562 | 0.31% | — |
| AGX | ARGAN INC | $431.0M | 791,353 | 0.31% | — |
| AXP | AMERICAN EXPRESS CO | $429.9M | 1,421,221 | 0.31% | — |
| ABT | ABBOTT LABORATORIES | $429.1M | 4,179,722 | 0.31% | — |
| FFIV | F5 INC | $427.3M | 1,476,987 | 0.31% | — |
| USB | US BANCORP | $422.3M | 8,118,845 | 0.30% | — |
| EWBC | EAST WEST BANCORP INC | $418.3M | 3,918,515 | 0.30% | — |
| PCAR | PACCAR INC | $416.4M | 3,605,471 | 0.30% | — |
| PRIM | PRIMORIS SVCS CORP | $412.8M | 2,886,163 | 0.29% | — |
| CTSH | COGNIZANT TECHNOLOGY SOLUTIO | $399.9M | 6,518,915 | 0.29% | — |
| CMCSA | COMCAST CORP NEW | $390.2M | 13,592,149 | 0.28% | — |
| COKE | COCA COLA CONS INC | $386.8M | 2,017,368 | 0.28% | — |
| MU | MICRON TECHNOLOGY INC | $384.1M | 1,137,009 | 0.27% | — |
| NTAP | NETAPP INC | $374.5M | 3,658,066 | 0.27% | — |
| LMT | LOCKHEED MARTIN CORP | $365.6M | 604,946 | 0.26% | — |
| COP | CONOCOPHILLIPS | $363.6M | 2,754,665 | 0.26% | — |
| SYF | SYNCHRONY FINANCIAL | $363.1M | 5,338,110 | 0.26% | — |
| STRL | STERLING INFRASTRUCTURE INC | $357.6M | 877,990 | 0.26% | — |
| UPS | UNITED PARCEL SVCS INC | $357.2M | 3,631,133 | 0.26% | — |
| RJF | RAYMOND JAMES FINL INC | $356.1M | 2,459,488 | 0.25% | — |
| HUBB | HUBBELL INC | $350.5M | 714,287 | 0.25% | — |
| STT | STATE STR CORP | $350.3M | 2,768,064 | 0.25% | — |
| AFL | AFLAC INC | $349.4M | 3,184,801 | 0.25% | — |
| RF | REGIONS FINANCIAL CORP NEW | $348.9M | 13,358,969 | 0.25% | — |
| WMT | WALMART INC | $347.6M | 2,797,281 | 0.25% | — |
| RMD | RESMED INC | $345.2M | 1,537,825 | 0.25% | — |
| NOC | NORTHROP GRUMMAN CORP | $345.2M | 505,987 | 0.25% | — |
| INGR | INGREDION INC | $344.1M | 3,054,149 | 0.25% | — |
| CHKP | CHECK POINT SOFTWARE TECH LT | $344.0M | 2,407,814 | 0.25% | — |
| CBOE | CBOE GLOBAL MKTS INC | $341.7M | 1,215,559 | 0.24% | — |
| BMY | BRISTOL-MYERS SQUIBB CO | $335.7M | 5,534,556 | 0.24% | — |
| GD | GENERAL DYNAMICS CORP | $335.7M | 977,989 | 0.24% | — |
| TROW | PRICE T ROWE GROUP INC | $333.0M | 3,694,171 | 0.24% | — |
| GOOG | ALPHABET INC | $332.7M | 1,159,739 | 0.24% | — |
| CINF | CINCINNATI FINL CORP | $331.1M | 2,104,457 | 0.24% | — |
| ABBV | ABBVIE INC | $330.6M | 1,519,986 | 0.24% | — |
| OKTA | OKTA INC | $330.2M | 4,194,608 | 0.24% | — |
| EBAY | EBAY INC. | $327.3M | 3,596,262 | 0.23% | — |
| ADI | ANALOG DEVICES INC | $321.0M | 1,008,833 | 0.23% | — |
| SCHW | SCHWAB CHARLES CORP | $317.4M | 3,377,185 | 0.23% | — |
| HII | HUNTINGTON INGALLS INDS INC | $316.2M | 832,452 | 0.23% | — |
| KO | COCA COLA CO | $308.5M | 4,056,824 | 0.22% | — |
| CNM | CORE & MAIN INC | $302.9M | 6,130,840 | 0.22% | — |
| HONGBP | HONEYWELL INTL INC | $290.6M | 1,285,577 | 0.21% | — |
| PGR | PROGRESSIVE CORP | $288.2M | 1,453,827 | 0.21% | — |
| TJX | TJX COS INC NEW | $288.1M | 1,804,182 | 0.21% | — |
| BWXT | BWX TECHNOLOGIES INC | $284.5M | 1,391,079 | 0.20% | — |
| LIN | LINDE PLC | $282.7M | 570,323 | 0.20% | — |
| SAIA | SAIA INC | $282.5M | 804,284 | 0.20% | — |
| WMS | ADVANCED DRAIN SYS INC DEL | $280.3M | 2,044,057 | 0.20% | — |
| POWL | POWELL INDS INC | $279.5M | 516,551 | 0.20% | — |
| GEN | GEN DIGITAL INC | $278.9M | 14,808,943 | 0.20% | — |
| EXPE | EXPEDIA GROUP INC | $275.1M | 1,191,528 | 0.20% | — |
| CHRW | C H ROBINSON WORLDWIDE IN | $273.0M | 1,643,687 | 0.20% | — |
| SPXC | SPX TECHNOLOGIES INC | $272.5M | 1,362,871 | 0.19% | — |
| DY | DYCOM INDS INC | $270.6M | 798,699 | 0.19% | — |
| ECL | ECOLAB INC | $268.5M | 1,009,396 | 0.19% | — |
| REGN | REGENERON PHARMACEUTICALS | $268.0M | 346,855 | 0.19% | — |
| WRB | BERKLEY W R CORP | $263.3M | 3,972,929 | 0.19% | — |
| ADSK | AUTODESK INC | $263.1M | 1,098,800 | 0.19% | — |
| AIT | APPLIED INDL TECHNOLOGIES IN | $259.7M | 978,840 | 0.19% | — |
| ACM | AECOM | $256.7M | 3,026,446 | 0.18% | — |
| PG | PROCTER & GAMBLE CO | $255.2M | 1,767,050 | 0.18% | — |
| WTFC | WINTRUST FINL CORP | $254.3M | 1,830,268 | 0.18% | — |
| DASH | DOORDASH INC | $253.8M | 1,690,472 | 0.18% | — |
| ACGL | ARCH CAP GROUP LTD | $252.1M | 2,626,148 | 0.18% | — |
| PLTR | PALANTIR TECHNOLOGIES INC | $251.6M | 1,720,293 | 0.18% | — |
| DT | DYNATRACE INC | $251.5M | 6,801,507 | 0.18% | — |
| LDOS | LEIDOS HOLDINGS INC | $248.5M | 1,597,764 | 0.18% | — |
| CL | COLGATE PALMOLIVE CO | $247.5M | 2,904,290 | 0.18% | — |
| PPG | PPG INDS INC | $244.5M | 2,287,261 | 0.17% | — |
| RL | RALPH LAUREN CORP | $242.0M | 703,637 | 0.17% | — |
| AMD | ADVANCED MICRO DEVICES INC | $241.3M | 1,186,116 | 0.17% | — |
| MNST | MONSTER BEVERAGE CORP NEW | $240.0M | 3,311,521 | 0.17% | — |
| RBRK | RUBRIK INC. | $239.7M | 4,895,715 | 0.17% | — |
| INFY | INFOSYS LTD | $237.6M | 17,585,905 | 0.17% | — |
| ALSN | ALLISON TRANSMISSION HLDGS I | $237.2M | 2,026,603 | 0.17% | — |
| UNM | UNUM GROUP | $237.2M | 3,247,940 | 0.17% | — |
This table is the 150 largest positions by value, out of 2,602 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 FIRST TRUST ADVISORS LP (CIK 1125816, accession 0001445546-26-003611). 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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