13F holdings
FULLER & THALER ASSET MANAGEMENT, INC. portfolio
Managed by . 497 reported positions worth $29.7B as of 2026-03-31, filed with the SEC on 2026-05-14. Parsed from the filing itself, not a reseller.
$29.7B
Book value
497
Positions
13%
Top 10 weight
+56
New this quarter
-56
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 (56)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| AMCR | AMCOR PLC | $544.0M | 13,686,792 | 1.83% |
| INDV | INDIVIOR PHARMACEUTICALS INC | $138.1M | 4,529,583 | 0.46% |
| TTEK | TETRA TECH INC NEW | $99.8M | 3,314,443 | 0.34% |
| ECG | EVERUS CONSTR GROUP | $91.1M | 771,811 | 0.31% |
| VIAV | VIAVI SOLUTIONS INC | $88.5M | 2,659,193 | 0.30% |
| CGNX | COGNEX CORP | $81.2M | 1,656,815 | 0.27% |
| BILL | BILL HOLDINGS INC | $76.5M | 1,996,215 | 0.26% |
| LBRT | LIBERTY ENERGY INC | $71.4M | 2,478,018 | 0.24% |
| HNGE | HINGE HEALTH INC | $63.8M | 1,655,198 | 0.21% |
| LRN | STRIDE INC | $63.2M | 716,340 | 0.21% |
| AGX | ARGAN INC | $62.6M | 114,862 | 0.21% |
| KLIC | KULICKE & SOFFA INDS INC | $57.4M | 873,817 | 0.19% |
| MUR | MURPHY OIL CORP | $56.1M | 1,358,795 | 0.19% |
| MOG/A | MOOG INC | $56.0M | 191,195 | 0.19% |
| FIG | FIGMA INC | $53.8M | 2,543,373 | 0.18% |
| TREX | TREX INC | $53.7M | 1,474,843 | 0.18% |
| PL | PLANET LABS PBC | $51.7M | 1,850,668 | 0.17% |
| PEGA | PEGASYSTEMS INC | $45.5M | 1,069,134 | 0.15% |
| CELH | CELSIUS HLDGS INC | $43.3M | 1,219,168 | 0.15% |
| NMIH | NMI HLDGS INC | $40.2M | 1,070,580 | 0.14% |
| PENN | PENN ENTERTAINMENT INC | $32.6M | 2,168,909 | 0.11% |
| FIGS | FIGS INC | $31.5M | 2,133,406 | 0.11% |
| NAVN | NAVAN INC | $31.5M | 2,378,367 | 0.11% |
| RELY | REMITLY GLOBAL INC | $30.3M | 1,935,101 | 0.10% |
| HIMS | HIMS & HERS HEALTH INC | $29.5M | 1,419,677 | 0.10% |
Closed out (56)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| INDV | Indivior Plc | $228.6M | 6,371,534 | 0.00% |
| U | Unity Software Inc | $120.5M | 2,727,648 | 0.00% |
| 1RG | Rev Group Inc | $115.4M | 1,898,440 | 0.00% |
| CADE | Cadence Bank | $114.2M | 2,664,785 | 0.00% |
| ZETA | Zeta Global Holdings Corp Cl A | $82.0M | 4,027,355 | 0.00% |
| PII | Polaris Inc | $81.4M | 1,287,704 | 0.00% |
| LYFT | Lyft Inc Cl A | $80.2M | 4,139,818 | 0.00% |
| BIO | Bio Rad Laboratories Inc Cl A | $78.6M | 259,577 | 0.00% |
| QLYS | Qualys Inc | $78.6M | 591,358 | 0.00% |
| LTH | Life Time Group Holdings Inc Commo | $76.9M | 2,894,241 | 0.00% |
| COCO | Vita Coco Co Inc | $73.2M | 1,381,657 | 0.00% |
| INSP | Inspire Med Systems Inc | $61.6M | 668,099 | 0.00% |
| AMBA | Ambarella Inc | $60.1M | 848,092 | 0.00% |
| FRSH | Freshworks Inc Class A | $58.2M | 4,748,985 | 0.00% |
| CALX | Calix Inc | $57.9M | 1,094,173 | 0.00% |
| ESTC | Elastic Nv Ord | $54.9M | 727,763 | 0.00% |
| INTA | Intapp Inc | $52.0M | 1,134,697 | 0.00% |
| KSS | Kohls Corp | $49.8M | 2,439,777 | 0.00% |
| K4F | Onestream Inc Cl A | $47.6M | 2,592,382 | 0.00% |
| BLD* | Topbuild Corp | $46.1M | 110,435 | 0.00% |
| TGNA | Tegna Inc | $43.4M | 2,233,662 | 0.00% |
| CVLT | Commvault Systems Inc | $40.3M | 321,591 | 0.00% |
| KMT | Kennametal Inc | $36.7M | 1,290,870 | 0.00% |
| PTON | Peloton Interactive Inc Cl A | $35.5M | 5,763,106 | 0.00% |
| ZD | Ziff Davis Inc | $30.2M | 860,582 | 0.00% |
Added to (203)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| ALSN | ALLISON TRANSMISSION HLDGS I | $397.4M | 3,394,635 | 1.34% | +2% |
| EXEL | EXELIXIS INC | $366.4M | 8,542,236 | 1.23% | +7% |
| VRT | VERTIV HOLDINGS CO | $298.1M | 1,189,618 | 1.00% | +4% |
| LKQ | LKQ CORP | $292.0M | 9,942,144 | 0.98% | +20% |
| SAIC | SCIENCE APPLICATIONS INTL CO | $256.3M | 2,700,017 | 0.86% | +3% |
| ST | SENSATA TECHNOLOGIES HLDG PL | $241.7M | 6,862,391 | 0.81% | +14% |
| MTCH | MATCH GROUP INC NEW | $237.9M | 7,746,577 | 0.80% | +11% |
| GH | GUARDANT HEALTH INC | $235.6M | 2,550,314 | 0.79% | +4% |
| MOD | MODINE MFG CO | $234.4M | 1,081,680 | 0.79% | +6% |
| CRUS | CIRRUS LOGIC INC | $232.3M | 1,606,448 | 0.78% | +2% |
| BWA | BORGWARNER INC | $223.7M | 4,122,005 | 0.75% | +26% |
| DOCN | DIGITALOCEAN HLDGS INC | $219.8M | 2,562,044 | 0.74% | +6% |
| EHC | ENCOMPASS HEALTH CORP | $215.7M | 2,229,979 | 0.73% | +9% |
| AMG | AFFILIATED MANAGERS GROUP | $210.4M | 760,213 | 0.71% | +11% |
| WFRD | WEATHERFORD INTL PLC | $205.1M | 2,168,044 | 0.69% | +12% |
Trimmed (136)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| LYB | LYONDELLBASELL INDUSTRIES NV | $3.9M | 48,157 | 0.01% | -96% |
| CFG | CITIZENS FINL GROUP INC | $455,698 | 7,599 | 0.00% | -95% |
| KEY | KEYCORP | $67.7M | 3,376,891 | 0.23% | -75% |
| KTB | KONTOOR BRANDS INC | $21.2M | 301,469 | 0.07% | -71% |
| TKR | TIMKEN CO | $57.2M | 568,772 | 0.19% | -68% |
| VOE | VANGUARD INDEX FDS | $458,980 | 2,491 | 0.00% | -66% |
| IWM | ISHARES TR | $3.7M | 14,917 | 0.01% | -66% |
| DORM | DORMAN PRODS INC | $32.1M | 307,934 | 0.11% | -65% |
| IWS | ISHARES TR | $6.1M | 41,939 | 0.02% | -60% |
| TXRH | TEXAS ROADHOUSE INC | $394,189 | 2,387 | 0.00% | -60% |
| MUSA | MURPHY USA INC | $65.0M | 131,589 | 0.22% | -59% |
| IJT | ISHARES TR | $317,877 | 2,197 | 0.00% | -58% |
| DOW | DOW HLDGS INC | $8.6M | 205,817 | 0.03% | -54% |
| IWN | ISHARES TR | $13.3M | 69,913 | 0.04% | -53% |
| LASR | NLIGHT INC | $460,151 | 8,070 | 0.00% | -51% |
The book
Largest 150 of 497 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| AMCR | AMCOR PLC | $544.0M | 13,686,792 | 1.83% | — |
| DOC | HEALTHPEAK PROPERTIES INC | $479.8M | 29,201,584 | 1.62% | — |
| PRIM | PRIMORIS SVCS CORP | $424.4M | 2,966,901 | 1.43% | — |
| LITE | LUMENTUM HLDGS INC | $413.0M | 587,679 | 1.39% | — |
| ALSN | ALLISON TRANSMISSION HLDGS I | $397.4M | 3,394,635 | 1.34% | — |
| EXEL | EXELIXIS INC | $366.4M | 8,542,236 | 1.23% | — |
| FIX | COMFORT SYS USA INC | $334.0M | 242,196 | 1.12% | — |
| ONB | OLD NATL BANCORP IND | $332.7M | 15,055,918 | 1.12% | — |
| SON | SONOCO PRODS CO | $319.9M | 5,913,788 | 1.08% | — |
| JAZZ | JAZZ PHARMACEUTICALS PLC | $316.9M | 1,676,142 | 1.07% | — |
| BE | BLOOM ENERGY CORP | $311.5M | 2,299,320 | 1.05% | — |
| FNB | F N B CORP | $298.7M | 17,867,600 | 1.01% | — |
| VRT | VERTIV HOLDINGS CO | $298.1M | 1,189,618 | 1.00% | — |
| LKQ | LKQ CORP | $292.0M | 9,942,144 | 0.98% | — |
| DVN | DEVON ENERGY CORP NEW | $280.7M | 5,578,078 | 0.95% | — |
| PRMB | PRIMO BRANDS CORPORATION | $265.9M | 14,123,269 | 0.90% | — |
| SAIC | SCIENCE APPLICATIONS INTL CO | $256.3M | 2,700,017 | 0.86% | — |
| CE | CELANESE CORP DEL | $244.6M | 3,718,801 | 0.82% | — |
| ST | SENSATA TECHNOLOGIES HLDG PL | $241.7M | 6,862,391 | 0.81% | — |
| MTCH | MATCH GROUP INC NEW | $237.9M | 7,746,577 | 0.80% | — |
| GH | GUARDANT HEALTH INC | $235.6M | 2,550,314 | 0.79% | — |
| MOD | MODINE MFG CO | $234.4M | 1,081,680 | 0.79% | — |
| CRUS | CIRRUS LOGIC INC | $232.3M | 1,606,448 | 0.78% | — |
| WTM | WHITE MTNS INS GROUP LTD | $229.7M | 104,561 | 0.77% | — |
| BWA | BORGWARNER INC | $223.7M | 4,122,005 | 0.75% | — |
| DOCN | DIGITALOCEAN HLDGS INC | $219.8M | 2,562,044 | 0.74% | — |
| EHC | ENCOMPASS HEALTH CORP | $215.7M | 2,229,979 | 0.73% | — |
| EME | EMCOR GROUP INC | $214.7M | 290,790 | 0.72% | — |
| AMG | AFFILIATED MANAGERS GROUP | $210.4M | 760,213 | 0.71% | — |
| POR | PORTLAND GEN ELEC CO | $207.6M | 3,934,845 | 0.70% | — |
| WFRD | WEATHERFORD INTL PLC | $205.1M | 2,168,044 | 0.69% | — |
| AGCO | AGCO CORP | $202.3M | 1,746,334 | 0.68% | — |
| GPK | GRAPHIC PACKAGING HLDG CO | $201.9M | 20,315,566 | 0.68% | — |
| GTX | GARRETT MOTION INC | $198.0M | 10,897,535 | 0.67% | — |
| COLD | AMERICOLD REALTY TRUST INC | $195.4M | 17,051,517 | 0.66% | — |
| UGI | UGI CORP NEW | $194.6M | 5,342,372 | 0.66% | — |
| OPCH | OPTION CARE HEALTH INC | $191.8M | 7,125,280 | 0.65% | — |
| RYN | RAYONIER INC | $191.6M | 9,289,731 | 0.64% | — |
| CMC | COMMERCIAL METALS CO | $182.8M | 2,975,302 | 0.62% | — |
| DCI | DONALDSON INC | $179.2M | 2,111,613 | 0.60% | — |
| AWI | ARMSTRONG WORLD INDS INC NEW | $171.6M | 1,041,354 | 0.58% | — |
| THG | HANOVER INS GROUP INC | $171.6M | 989,837 | 0.58% | — |
| KRG | KITE REALTY GROUP TRUST | $171.4M | 6,979,970 | 0.58% | — |
| UTHR | UNITED THERAPEUTICS CORP DEL | $166.3M | 280,405 | 0.56% | — |
| MSM | MSC INDL DIRECT INC | $164.8M | 1,785,596 | 0.55% | — |
| STRL | STERLING INFRASTRUCTURE INC | $164.1M | 403,002 | 0.55% | — |
| TFX | TELEFLEX INCORPORATED | $163.1M | 1,363,950 | 0.55% | — |
| NXT | NEXTPOWER INC | $162.0M | 1,343,730 | 0.55% | — |
| ICUI | ICU MED INC | $157.6M | 1,220,539 | 0.53% | — |
| NXST | NEXSTAR MEDIA GROUP INC | $155.9M | 862,253 | 0.52% | — |
| GNTX | GENTEX CORP | $155.3M | 7,108,679 | 0.52% | — |
| R | RYDER SYS INC | $154.6M | 755,455 | 0.52% | — |
| CBT | CABOT CORP | $154.3M | 2,048,260 | 0.52% | — |
| CNO | CNO FINL GROUP INC | $154.1M | 3,752,992 | 0.52% | — |
| AYI | ACUITY INC | $154.0M | 549,645 | 0.52% | — |
| RL | RALPH LAUREN CORP | $153.1M | 445,115 | 0.52% | — |
| AIZ | ASSURANT INC | $151.9M | 697,535 | 0.51% | — |
| AEIS | ADVANCED ENERGY INDS | $151.7M | 469,935 | 0.51% | — |
| CCK | CROWN HLDGS INC | $151.4M | 1,510,014 | 0.51% | — |
| FHI | FEDERATED HERMES INC | $150.2M | 2,647,726 | 0.51% | — |
| ZION | ZIONS BANCORPORATION NATL AS | $149.5M | 2,594,137 | 0.50% | — |
| AIT | APPLIED INDL TECHNOLOGIES IN | $149.3M | 562,675 | 0.50% | — |
| AAP | ADVANCE AUTO PARTS INC | $149.2M | 2,828,907 | 0.50% | — |
| SR | SPIRE INC | $149.2M | 1,647,953 | 0.50% | — |
| OLN | OLIN CORP | $149.1M | 5,015,877 | 0.50% | — |
| XRAY | DENTSPLY SIRONA INC | $148.4M | 12,792,518 | 0.50% | — |
| MMSI | MERIT MED SYS INC | $145.8M | 2,115,526 | 0.49% | — |
| REYN | REYNOLDS CONSUMER PRODS INC | $145.1M | 6,851,657 | 0.49% | — |
| ELAN | ELANCO ANIMAL HEALTH INC | $143.9M | 6,015,064 | 0.48% | — |
| BBT | BEACON FINANCIAL CORP. | $143.1M | 4,770,552 | 0.48% | — |
| MWA | MUELLER WTR PRODS INC | $142.1M | 5,167,676 | 0.48% | — |
| VNT | VONTIER CORPORATION | $140.5M | 3,960,944 | 0.47% | — |
| DINO | HF SINCLAIR CORP | $140.4M | 2,250,185 | 0.47% | — |
| FTDR | FRONTDOOR INC | $139.7M | 2,641,913 | 0.47% | — |
| BTSG | BRIGHTSPRING HEALTH SVCS INC | $138.5M | 3,251,391 | 0.47% | — |
| FIS | FIDELITY NATL INFORMATION SV | $138.3M | 2,948,076 | 0.47% | — |
| INDV | INDIVIOR PHARMACEUTICALS INC | $138.1M | 4,529,583 | 0.46% | — |
| HWC | HANCOCK WHITNEY CORPORATION | $137.6M | 2,164,281 | 0.46% | — |
| HRB | BLOCK H & R INC | $135.9M | 4,280,293 | 0.46% | — |
| TMHC* | TAYLOR MORRISON HOME CORP | $135.8M | 2,332,054 | 0.46% | — |
| MMS | MAXIMUS INC | $133.4M | 2,081,466 | 0.45% | — |
| REZI | RESIDEO TECHNOLOGIES INC | $133.1M | 3,947,596 | 0.45% | — |
| PTEN | PATTERSON-UTI ENERGY INC | $132.7M | 12,253,350 | 0.45% | — |
| VSAT | VIASAT INC | $132.5M | 2,892,760 | 0.45% | — |
| SLGN | SILGAN HLDGS INC | $128.0M | 3,299,241 | 0.43% | — |
| BDC | BELDEN INC | $120.6M | 1,050,327 | 0.41% | — |
| CRC | CALIFORNIA RES CORP | $119.6M | 1,728,373 | 0.40% | — |
| PLXS | PLEXUS CORP | $119.3M | 588,778 | 0.40% | — |
| BCO | BRINKS CO | $118.2M | 1,140,871 | 0.40% | — |
| FHB | FIRST HAWAIIAN INC | $117.6M | 4,772,597 | 0.40% | — |
| ENSG | ENSIGN GROUP INC | $115.6M | 573,572 | 0.39% | — |
| EG | EVEREST GROUP LTD | $115.1M | 352,110 | 0.39% | — |
| CSG SYS INTL INC | CSG SYS INTL INC | $113.2M | 1,415,709 | 0.38% | — |
| KMPR | KEMPER CORP | $113.0M | 3,697,718 | 0.38% | — |
| VAC | MARRIOTT VACATIONS WORLDWIDE | $110.5M | 1,696,423 | 0.37% | — |
| FORM | FORMFACTOR INC | $110.3M | 1,137,356 | 0.37% | — |
| RRC | RANGE RES CORP | $110.2M | 2,439,309 | 0.37% | — |
| FIVE | FIVE BELOW INC | $109.4M | 478,730 | 0.37% | — |
| SKYW | SKYWEST INC | $108.6M | 1,182,334 | 0.37% | — |
| CROX | CROCS INC | $103.8M | 1,250,609 | 0.35% | — |
| WAFD | WAFD INC | $102.2M | 3,254,587 | 0.34% | — |
| GVA | GRANITE CONSTR INC | $101.8M | 849,271 | 0.34% | — |
| VSEC | VSE CORP | $101.4M | 549,899 | 0.34% | — |
| CRDO | CREDO TECHNOLOGY GROUP HOLDI | $101.3M | 1,079,325 | 0.34% | — |
| MATX | MATSON INC | $100.5M | 613,241 | 0.34% | — |
| TTEK | TETRA TECH INC NEW | $99.8M | 3,314,443 | 0.34% | — |
| EVR | EVERCORE INC | $98.8M | 331,109 | 0.33% | — |
| G | GENPACT LIMITED | $98.2M | 2,635,743 | 0.33% | — |
| BFAM | BRIGHT HORIZONS FAM SOL IN D | $96.6M | 1,176,639 | 0.33% | — |
| NVST | ENVISTA HOLDINGS CORPORATION | $95.7M | 3,773,752 | 0.32% | — |
| GMED | GLOBUS MED INC | $94.9M | 1,101,568 | 0.32% | — |
| HALO | HALOZYME THERAPEUTICS INC | $94.7M | 1,465,283 | 0.32% | — |
| VISN | VISTANCE NETWORKS INC | $94.4M | 5,186,631 | 0.32% | — |
| FCFS | FIRSTCASH HOLDINGS INC | $93.4M | 497,008 | 0.31% | — |
| FLO | FLOWERS FOODS INC | $92.5M | 11,348,812 | 0.31% | — |
| NATL | NCR ATLEOS CORPORATION | $92.1M | 2,114,418 | 0.31% | — |
| ALAB | ASTERA LABS INC | $91.5M | 834,660 | 0.31% | — |
| ECG | EVERUS CONSTR GROUP | $91.1M | 771,811 | 0.31% | — |
| HAS | HASBRO INC | $90.9M | 971,461 | 0.31% | — |
| SANM | SANMINA CORP | $90.6M | 698,678 | 0.30% | — |
| WTFC | WINTRUST FINL CORP | $90.4M | 650,600 | 0.30% | — |
| SF | STIFEL FINL CORP | $90.1M | 1,218,982 | 0.30% | — |
| VIAV | VIAVI SOLUTIONS INC | $88.5M | 2,659,193 | 0.30% | — |
| ACIW | ACI WORLDWIDE INC | $88.2M | 2,149,809 | 0.30% | — |
| TEX | TEREX CORP NEW | $88.0M | 1,488,426 | 0.30% | — |
| IDCC | INTERDIGITAL INC | $86.7M | 287,098 | 0.29% | — |
| FULT | FULTON FINL CORP PA | $86.6M | 4,256,403 | 0.29% | — |
| APLE | APPLE HOSPITALITY REIT INC | $85.2M | 7,404,409 | 0.29% | — |
| HMN | HORACE MANN EDUCATORS CORP N | $84.7M | 1,985,506 | 0.29% | — |
| SKY | CHAMPION HOMES INC | $83.9M | 1,127,535 | 0.28% | — |
| AVTR | AVANTOR INC | $83.4M | 10,632,112 | 0.28% | — |
| GEF | GREIF INC | $83.1M | 1,238,623 | 0.28% | — |
| PRGO | PERRIGO CO PLC | $82.3M | 7,662,883 | 0.28% | — |
| CGNX | COGNEX CORP | $81.2M | 1,656,815 | 0.27% | — |
| PRI | PRIMERICA INC | $80.0M | 319,301 | 0.27% | — |
| IRTC | IRHYTHM HOLDINGS INC | $79.6M | 674,698 | 0.27% | — |
| ZWS | ZURN ELKAY WATER SOLNS CORP | $79.6M | 1,774,315 | 0.27% | — |
| AIR | AAR CORP | $78.6M | 718,090 | 0.26% | — |
| VSXY | VICTORIAS SECRET AND CO | $76.9M | 1,658,221 | 0.26% | — |
| BILL | BILL HOLDINGS INC | $76.5M | 1,996,215 | 0.26% | — |
| JBL | JABIL INC | $75.6M | 284,752 | 0.25% | — |
| GFF | GRIFFON CORP | $72.8M | 1,002,013 | 0.25% | — |
| SWX | SOUTHWEST GAS HLDGS INC | $72.1M | 829,634 | 0.24% | — |
| LBRT | LIBERTY ENERGY INC | $71.4M | 2,478,018 | 0.24% | — |
| RRR | RED ROCK RESORTS INC | $69.3M | 1,298,973 | 0.23% | — |
| AGO | ASSURED GUARANTY LTD | $69.2M | 849,653 | 0.23% | — |
| RDN | RADIAN GROUP INC | $68.8M | 2,078,977 | 0.23% | — |
| KEY | KEYCORP | $67.7M | 3,376,891 | 0.23% | — |
| BOOT | BOOT BARN HLDGS INC | $67.5M | 461,233 | 0.23% | — |
| CACI | CACI INTL INC | $67.0M | 123,135 | 0.23% | — |
This table is the 150 largest positions by value, out of 497 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 FULLER & THALER ASSET MANAGEMENT, INC. (CIK 1082327, accession 0001420506-26-000992). 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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