13F holdings
Harel Insurance Investments & Financial Services Ltd. portfolio
Managed by . 509 reported positions worth $14.7B as of 2026-03-31, filed with the SEC on 2026-05-05. Parsed from the filing itself, not a reseller.
$14.7B
Book value
509
Positions
45%
Top 10 weight
+108
New this quarter
-33
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 35 days old on 2026-05-05, 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 (108)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| PATK | PATRICK INDS INC | $5.2M | 47,000 | 0.04% |
| FOR | FORESTAR GROUP INC | $3.8M | 157,313 | 0.03% |
| IT | GARTNER INC | $1.3M | 8,520 | 0.01% |
| PFE | PFIZER INC | $674,000 | 24,000 | 0.00% |
| SIL | GLOBAL X FDS | $661,000 | 7,600 | 0.00% |
| IWF | ISHARES TR | $597,000 | 1,400 | 0.00% |
| BMY | BRISTOL-MYERS SQUIBB CO | $552,000 | 9,100 | 0.00% |
| STRL | STERLING INFRASTRUCTURE INC | $525,000 | 1,290 | 0.00% |
| QCOM | QUALCOMM INC | $465,000 | 3,610 | 0.00% |
| ARM | ARM HOLDINGS PLC | $431,000 | 2,850 | 0.00% |
| TUR | ISHARES INC | $425,000 | 11,000 | 0.00% |
| WDC | WESTERN DIGITAL CORP | $405,000 | 1,499 | 0.00% |
| SLB | SLB LIMITED | $360,000 | 7,000 | 0.00% |
| EIS | ISHARES INC | $342,000 | 2,950 | 0.00% |
| TMUS | T-MOBILE US INC | $336,000 | 1,600 | 0.00% |
| RIOT | RIOT PLATFORMS INC | $329,000 | 26,625 | 0.00% |
| PEP | PEPSICO INC | $328,000 | 2,112 | 0.00% |
| SYLD | CAMBRIA ETF TR | $324,000 | 4,300 | 0.00% |
| SCHV | SCHWAB STRATEGIC TR | $320,000 | 10,500 | 0.00% |
| EOG | EOG RES INC | $318,000 | 2,200 | 0.00% |
| GILD | GILEAD SCIENCES INC | $313,000 | 2,249 | 0.00% |
| UEC | URANIUM ENERGY CORP | $309,000 | 22,890 | 0.00% |
| PAAS | PAN AMERN SILVER CORP | $309,000 | 5,652 | 0.00% |
| MOS | MOSAIC CO | $306,000 | 12,000 | 0.00% |
| NVO | NOVO-NORDISK A S | $282,000 | 7,675 | 0.00% |
Closed out (33)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| GRID | FIRST TR EXCHANGE TRADED FD | $233.7M | 1,527,000 | 0.00% |
| MGIC | MAGIC SOFTWARE ENTERPRISES L | $71.3M | 2,767,656 | 0.00% |
| FTEC | FIDELITY COVINGTON TRUST | $23.6M | 104,900 | 0.00% |
| VOX | VANGUARD WORLD FD | $19.9M | 102,700 | 0.00% |
| FDN | FIRST TR EXCHANGE-TRADED FD | $15.3M | 57,000 | 0.00% |
| INMD | INMODE LTD | $13.2M | 899,991 | 0.00% |
| VCR | VANGUARD WORLD FD | $10.0M | 25,300 | 0.00% |
| KBWP | INVESCO EXCH TRADED FD TR II | $8.0M | 62,500 | 0.00% |
| RDDT | REDDIT INC | $3.0M | 13,000 | 0.00% |
| QQQM | INVESCO EXCH TRADED FD TR II | $2.0M | 7,800 | 0.00% |
| ESTC | ELASTIC N V | $1.8M | 23,500 | 0.00% |
| GXO | GXO LOGISTICS INCORPORATED | $658,000 | 12,500 | 0.00% |
| CWAN | CLEARWATER ANALYTICS HLDGS I | $656,000 | 27,199 | 0.00% |
| INVZ | INNOVIZ TECHNOLOGIES LTD | $569,000 | 667,260 | 0.00% |
| AIG | AMERICAN INTL GROUP INC | $556,000 | 6,500 | 0.00% |
| CYBR | CYBERARK SOFTWARE LTD | $515,000 | 1,155 | 0.00% |
| LSCC | LATTICE SEMICONDUCTOR CORP | $331,000 | 4,503 | 0.00% |
| CRWV | COREWEAVE INC | $329,000 | 4,600 | 0.00% |
| JBHT | HUNT J B TRANS SVCS INC | $289,000 | 1,488 | 0.00% |
| BRKR | BRUKER CORP | $244,000 | 5,182 | 0.00% |
| CSGP | COSTAR GROUP INC | $185,000 | 2,755 | 0.00% |
| MAR | MARRIOTT INTL INC NEW | $37,000 | 120 | 0.00% |
| ARCC | ARES CAPITAL CORP | $12,000 | 610 | 0.00% |
| NCLH | NORWEGIAN CRUISE LINE HLDG L | $8,000 | 358 | 0.00% |
| H | HYATT HOTELS CORP | $5,000 | 32 | 0.00% |
Added to (222)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| TEVA | TEVA PHARMACEUTICAL INDS LTD | $1.4B | 45,956,714 | 9.39% | +2% |
| NVMI | NOVA LTD | $940.7M | 2,166,073 | 6.38% | +47% |
| GOOGL | ALPHABET INC | $713.8M | 2,482,119 | 4.84% | +57% |
| NVDA | NVIDIA CORPORATION | $711.2M | 4,077,941 | 4.82% | +130% |
| AAPL | APPLE INC | $589.0M | 2,320,981 | 3.99% | +552% |
| MSFT | MICROSOFT CORP | $502.1M | 1,356,359 | 3.41% | +139% |
| XLI | SELECT SECTOR SPDR TR | $474.2M | 2,931,874 | 3.22% | +3790% |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $470.9M | 1,390,459 | 3.19% | +15% |
| PAVE | GLOBAL X FDS | $454.1M | 8,938,139 | 3.08% | +43% |
| PANW | PALO ALTO NETWORKS INC | $442.8M | 2,761,909 | 3.00% | +1665% |
| AMZN | AMAZON COM INC | $406.4M | 1,951,562 | 2.76% | +50% |
| META | META PLATFORMS INC | $383.3M | 669,977 | 2.60% | +268% |
| CAMT | CAMTEK LTD | $349.0M | 2,302,009 | 2.37% | +38% |
| SHLD | GLOBAL X FDS | $329.1M | 4,645,365 | 2.23% | +151% |
| IAI | ISHARES TR | $297.2M | 1,810,236 | 2.02% | +54% |
Trimmed (98)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| SPIB | SPDR SERIES TRUST | $0 | 1 | 0.00% | -100% |
| SNPS | SYNOPSYS INC | $348,000 | 878 | 0.00% | -100% |
| XLC | SELECT SECTOR SPDR TR | $2.4M | 21,407 | 0.02% | -98% |
| EPI | WISDOMTREE TR | $2.7M | 66,000 | 0.02% | -96% |
| IVV | ISHARES TR | $204,000 | 313 | 0.00% | -95% |
| PWR | QUANTA SVCS INC | $110,000 | 200 | 0.00% | -94% |
| SPLV | INVESCO EXCH TRADED FD TR II | $37,000 | 501 | 0.00% | -92% |
| BAC | BANK AMERICA CORP | $6.0M | 122,490 | 0.04% | -91% |
| AZNN | ASTRAZENECA PLC | $21,000 | 105 | 0.00% | -91% |
| KKR | KKR & CO INC | $42,000 | 450 | 0.00% | -91% |
| XLU | SELECT SECTOR SPDR TR | $31.0M | 675,005 | 0.21% | -89% |
| UBER | UBER TECHNOLOGIES INC | $223,000 | 3,100 | 0.00% | -88% |
| JPM | JPMORGAN CHASE & CO | $7.2M | 24,545 | 0.05% | -86% |
| XEL | XCEL ENERGY INC | $60,000 | 761 | 0.00% | -85% |
| ORLY | OREILLY AUTOMOTIVE INC | $8,000 | 85 | 0.00% | -81% |
The book
Largest 150 of 509 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| TEVA | TEVA PHARMACEUTICAL INDS LTD | $1.4B | 45,956,714 | 9.39% | — |
| NVMI | NOVA LTD | $940.7M | 2,166,073 | 6.38% | — |
| GOOGL | ALPHABET INC | $713.8M | 2,482,119 | 4.84% | — |
| NVDA | NVIDIA CORPORATION | $711.2M | 4,077,941 | 4.82% | — |
| AAPL | APPLE INC | $589.0M | 2,320,981 | 3.99% | — |
| MSFT | MICROSOFT CORP | $502.1M | 1,356,359 | 3.41% | — |
| XLI | SELECT SECTOR SPDR TR | $474.2M | 2,931,874 | 3.22% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $470.9M | 1,390,459 | 3.19% | — |
| PAVE | GLOBAL X FDS | $454.1M | 8,938,139 | 3.08% | — |
| PANW | PALO ALTO NETWORKS INC | $442.8M | 2,761,909 | 3.00% | — |
| XLV | SELECT SECTOR SPDR TR | $416.2M | 2,838,549 | 2.82% | — |
| AMZN | AMAZON COM INC | $406.4M | 1,951,562 | 2.76% | — |
| META | META PLATFORMS INC | $383.3M | 669,977 | 2.60% | — |
| TSEM | TOWER SEMICONDUCTOR LTD | $349.2M | 1,989,929 | 2.37% | — |
| CAMT | CAMTEK LTD | $349.0M | 2,302,009 | 2.37% | — |
| SHLD | GLOBAL X FDS | $329.1M | 4,645,365 | 2.23% | — |
| CLIP | GLOBAL X FDS | $301.1M | 3,000,000 | 2.04% | — |
| IAI | ISHARES TR | $297.2M | 1,810,236 | 2.02% | — |
| ESLT | ELBIT SYS LTD | $228.9M | 269,599 | 1.55% | — |
| AVGO | BROADCOM INC | $228.0M | 736,534 | 1.55% | — |
| FCOM | FIDELITY COVINGTON TRUST | $214.3M | 3,145,739 | 1.45% | — |
| VGT | VANGUARD WORLD FD | $212.9M | 305,172 | 1.44% | — |
| SMH | VANECK ETF TRUST | $204.8M | 534,268 | 1.39% | — |
| XLK | SELECT SECTOR SPDR TR | $188.3M | 1,416,839 | 1.28% | — |
| GE | GE AEROSPACE | $188.3M | 662,739 | 1.28% | — |
| ENLT | ENLIGHT RENEWABLE ENERGY LTD | $184.4M | 2,701,148 | 1.25% | — |
| MISL | FIRST TR EXCHANGE-TRADED FD | $176.7M | 3,953,000 | 1.20% | — |
| SNOW | SNOWFLAKE INC | $176.7M | 1,171,833 | 1.20% | — |
| COPX | GLOBAL X FDS | $174.9M | 2,290,355 | 1.19% | — |
| GS | GOLDMAN SACHS GROUP INC | $170.1M | 201,115 | 1.15% | — |
| HONGBP | HONEYWELL INTL INC | $163.2M | 722,086 | 1.11% | — |
| DDOG | DATADOG INC | $156.8M | 1,328,431 | 1.06% | — |
| LRCX | LAM RESEARCH CORP | $156.6M | 732,364 | 1.06% | — |
| COST | COSTCO WHOLESALE CORPORATION | $153.9M | 154,450 | 1.04% | — |
| WMT | WALMART INC | $141.8M | 1,141,116 | 0.96% | — |
| XLY | SELECT SECTOR SPDR TR | $135.8M | 1,246,345 | 0.92% | — |
| MDB | MONGODB INC | $134.6M | 549,970 | 0.91% | — |
| ORA | ORMAT TECHNOLOGIES INC | $128.5M | 1,147,863 | 0.87% | — |
| NICE | NICE LTD | $113.4M | 1,028,172 | 0.77% | — |
| IYC | ISHARES TR | $102.6M | 1,058,741 | 0.70% | — |
| XME | SPDR SERIES TRUST | $87.9M | 814,000 | 0.60% | — |
| ORCL | ORACLE CORP | $87.1M | 592,338 | 0.59% | — |
| GLBE | GLOBAL E ONLINE LTD | $63.0M | 2,041,555 | 0.43% | — |
| ETOR | ETORO GROUP LTD | $59.7M | 1,988,552 | 0.40% | — |
| MRVL | MARVELL TECHNOLOGY INC | $57.3M | 578,965 | 0.39% | — |
| SEDG 2.25 07/01/29 | SOLAREDGE TECHNOLOGIES INC | $54.5M | 31,200,000 | 0.37% | — |
| SPY | STATE STR SPDR S&P 500 ETF T | $51.8M | 79,580 | 0.35% | — |
| RSPD | INVESCO EXCHANGE TRADED FD T | $46.7M | 871,842 | 0.32% | — |
| QQQ | INVESCO QQQ TR | $43.6M | 75,513 | 0.30% | — |
| VTV | VANGUARD INDEX FDS | $42.4M | 216,309 | 0.29% | — |
| PERI | PERION NETWORK LTD | $34.8M | 3,478,513 | 0.24% | — |
| XLU | SELECT SECTOR SPDR TR | $31.0M | 675,005 | 0.21% | — |
| RTX | RTX CORPORATION | $27.5M | 142,746 | 0.19% | — |
| LMT | LOCKHEED MARTIN CORP | $26.7M | 44,104 | 0.18% | — |
| MBLY | MOBILEYE GLOBAL INC | $24.6M | 3,585,733 | 0.17% | — |
| BA | BOEING CO | $24.6M | 123,681 | 0.17% | — |
| EWJ | ISHARES INC | $24.1M | 285,045 | 0.16% | — |
| ASHR | DBX ETF TR | $24.0M | 735,613 | 0.16% | — |
| DXJ | WISDOMTREE TR | $21.8M | 137,735 | 0.15% | — |
| NYAX | NAYAX LTD | $21.3M | 380,000 | 0.14% | — |
| VEU | VANGUARD INTL EQUITY INDEX F | $19.3M | 257,145 | 0.13% | — |
| NOC | NORTHROP GRUMMAN CORP | $18.5M | 27,129 | 0.13% | — |
| GD | GENERAL DYNAMICS CORP | $17.4M | 50,839 | 0.12% | — |
| HWM | HOWMET AEROSPACE INC | $17.3M | 75,014 | 0.12% | — |
| LQD | ISHARES TR | $14.0M | 128,217 | 0.09% | — |
| COHR | COHERENT CORP | $13.2M | 55,600 | 0.09% | — |
| TDG | TRANSDIGM GROUP INC | $12.2M | 10,566 | 0.08% | — |
| LHX | L3HARRIS TECHNOLOGIES INC | $12.1M | 34,946 | 0.08% | — |
| GOOG | ALPHABET INC | $11.9M | 41,530 | 0.08% | — |
| CAT | CATERPILLAR INC | $11.4M | 16,135 | 0.08% | — |
| ZIM | ZIM INTEGRATED SHIPPING SERV | $10.3M | 391,770 | 0.07% | — |
| EXMOC | EXXON MOBIL CORP | $10.2M | 60,019 | 0.07% | — |
| TSLA | TESLA INC | $10.1M | 27,246 | 0.07% | — |
| NYT | NEW YORK TIMES CO MTN BE | $9.4M | 112,499 | 0.06% | — |
| RNG | RINGCENTRAL INC | $9.2M | 248,716 | 0.06% | — |
| FFIV | F5 INC | $8.9M | 30,799 | 0.06% | — |
| CVX | CHEVRON CORPORATION | $8.6M | 41,778 | 0.06% | — |
| XLE | SELECT SECTOR SPDR TR | $8.3M | 140,786 | 0.06% | — |
| V | VISA INC | $8.3M | 27,341 | 0.06% | — |
| VRSN | VERISIGN INC | $8.2M | 32,993 | 0.06% | — |
| MU | MICRON TECHNOLOGY INC | $8.2M | 24,232 | 0.06% | — |
| EME | EMCOR GROUP INC | $8.2M | 11,039 | 0.06% | — |
| LOPE | GRAND CANYON ED INC | $8.1M | 47,775 | 0.06% | — |
| MCK | MCKESSON CORP | $8.0M | 9,288 | 0.05% | — |
| YUM | YUM BRANDS INC | $8.0M | 51,462 | 0.05% | — |
| VOO | VANGUARD INDEX FDS | $7.6M | 12,737 | 0.05% | — |
| FEZ | SPDR INDEX SHS FDS | $7.5M | 121,558 | 0.05% | — |
| MELI | MERCADOLIBRE INC | $7.5M | 4,327 | 0.05% | — |
| DECK | DECKERS OUTDOOR CORP | $7.5M | 74,549 | 0.05% | — |
| ADBE | ADOBE INC | $7.3M | 30,089 | 0.05% | — |
| JPM | JPMORGAN CHASE & CO | $7.2M | 24,545 | 0.05% | — |
| RMD | RESMED INC | $7.1M | 31,576 | 0.05% | — |
| CHE | CHEMED CORP NEW | $7.0M | 18,615 | 0.05% | — |
| RKLB | ROCKET LAB CORP | $6.8M | 106,167 | 0.05% | — |
| COR | CENCORA INC | $6.8M | 21,640 | 0.05% | — |
| CBOE | CBOE GLOBAL MKTS INC | $6.8M | 24,068 | 0.05% | — |
| MEDP | MEDPACE HLDGS INC | $6.8M | 14,071 | 0.05% | — |
| AXON | AXON ENTERPRISE INC | $6.4M | 15,083 | 0.04% | — |
| BAC | BANK AMERICA CORP | $6.0M | 122,490 | 0.04% | — |
| NTNX | NUTANIX INC | $5.9M | 154,021 | 0.04% | — |
| PEGA | PEGASYSTEMS INC | $5.8M | 137,302 | 0.04% | — |
| PCTY | PAYLOCITY HLDG CORP | $5.6M | 51,476 | 0.04% | — |
| DOCU | DOCUSIGN INC | $5.5M | 115,884 | 0.04% | — |
| RDVY | FIRST TR EXCHANGE TRADED FD | $5.5M | 80,000 | 0.04% | — |
| WIX | WIX COM LTD | $5.2M | 57,989 | 0.04% | — |
| PATK | PATRICK INDS INC | $5.2M | 47,000 | 0.04% | — |
| SLQD | ISHARES TR | $5.2M | 102,652 | 0.04% | — |
| LYFT | LYFT INC | $5.0M | 376,804 | 0.03% | — |
| RSP | INVESCO EXCHANGE TRADED FD T | $4.9M | 25,741 | 0.03% | — |
| ACWI | ISHARES TR | $4.7M | 34,207 | 0.03% | — |
| CW | CURTISS WRIGHT CORP | $4.7M | 6,899 | 0.03% | — |
| KRT | KARAT PACKAGING INC | $4.2M | 151,181 | 0.03% | — |
| SLV | ISHARES SILVER TR | $4.2M | 63,500 | 0.03% | — |
| DOCS | DOXIMITY INC | $4.1M | 175,402 | 0.03% | — |
| SPMO | INVESCO EXCH TRADED FD TR II | $4.0M | 35,580 | 0.03% | — |
| PINS | PINTEREST INC | $3.9M | 214,173 | 0.03% | — |
| GDDY | GODADDY INC | $3.9M | 47,103 | 0.03% | — |
| FOR | FORESTAR GROUP INC | $3.8M | 157,313 | 0.03% | — |
| ANF | ABERCROMBIE & FITCH CO | $3.8M | 41,600 | 0.03% | — |
| LDOS | LEIDOS HOLDINGS INC | $3.7M | 23,649 | 0.02% | — |
| HEDJ | WISDOMTREE TR | $3.6M | 68,065 | 0.02% | — |
| PLTR | PALANTIR TECHNOLOGIES INC | $3.4M | 23,424 | 0.02% | — |
| DAX | GLOBAL X FDS | $3.3M | 77,910 | 0.02% | — |
| HII | HUNTINGTON INGALLS INDS INC | $2.8M | 7,343 | 0.02% | — |
| NFLX | NETFLIX INC. | $2.7M | 28,372 | 0.02% | — |
| EPI | WISDOMTREE TR | $2.7M | 66,000 | 0.02% | — |
| SDG | ISHARES TR | $2.7M | 31,830 | 0.02% | — |
| PBD | INVESCO EXCH TRADED FD TR II | $2.7M | 148,261 | 0.02% | — |
| EVX | VANECK ETF TRUST | $2.7M | 68,549 | 0.02% | — |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $2.7M | 5,539 | 0.02% | — |
| TBLU | TORTOISE CAPITAL SERIES TRUS | $2.6M | 52,550 | 0.02% | — |
| ICLN | ISHARES TR | $2.6M | 144,045 | 0.02% | — |
| KTOS | KRATOS DEFENSE & SEC SOLUTIO | $2.5M | 34,942 | 0.02% | — |
| FIW | FIRST TR EXCHANGE-TRADED FD | $2.4M | 23,188 | 0.02% | — |
| XLC | SELECT SECTOR SPDR TR | $2.4M | 21,407 | 0.02% | — |
| DRS | LEONARDO DRS INC | $2.2M | 49,735 | 0.02% | — |
| AMD | ADVANCED MICRO DEVICES INC | $2.2M | 10,593 | 0.01% | — |
| ABNB | AIRBNB INC | $2.1M | 16,650 | 0.01% | — |
| CRM | SALESFORCE INC | $2.1M | 11,220 | 0.01% | — |
| DBEU | DBX ETF TR | $2.0M | 42,114 | 0.01% | — |
| XLF | SELECT SECTOR SPDR TR | $2.0M | 40,532 | 0.01% | — |
| EXEL | EXELIXIS INC | $1.8M | 41,748 | 0.01% | — |
| ANET | ARISTA NETWORKS INC | $1.7M | 14,235 | 0.01% | — |
| MOG/A | MOOG INC | $1.7M | 5,949 | 0.01% | — |
| AVAV | AEROVIRONMENT INC | $1.7M | 9,341 | 0.01% | — |
| REGN | REGENERON PHARMACEUTICALS | $1.6M | 2,104 | 0.01% | — |
| ADP | AUTOMATIC DATA PROCESSING IN | $1.6M | 7,926 | 0.01% | — |
| FSLR | FIRST SOLAR INC | $1.5M | 7,562 | 0.01% | — |
| JNJ | JOHNSON & JOHNSON | $1.5M | 5,968 | 0.01% | — |
| HRL | HORMEL FOODS CORP | $1.4M | 63,592 | 0.01% | — |
This table is the 150 largest positions by value, out of 509 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 Harel Insurance Investments & Financial Services Ltd. (CIK 1429390, accession 0001178913-26-002381). Every other 13F site is reading the same file.
One quirk worth naming: this manager still reports position values in thousands, although Form 13F has required whole dollars since 2023. We detect that by comparing this filing’s implied price per share against what every other manager holding the same securities reported for them this quarter — and multiply by 1,000. Figures on this page are therefore 1,000x the numbers you will read in the document itself.
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
Free · no spam
Get the weekly edge report
The best-performing indicator per asset, what changed this week, and the honest caveats — straight to your inbox.