13F holdings
HB Wealth Management, LLC portfolio
Managed by . 1,526 reported positions worth $15.4B as of 2026-03-31, filed with the SEC on 2026-04-27. Parsed from the filing itself, not a reseller.
$15.4B
Book value
1,526
Positions
49%
Top 10 weight
+203
New this quarter
-62
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 27 days old on 2026-04-27, 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 (203)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| AKRE | PROFESIONALLY MANAGED PORTFO | $3.1M | 57,814 | 0.02% |
| TTE | TOTALENERGIES SE | $2.4M | 26,082 | 0.02% |
| IEV | ISHARES TR | $1.7M | 24,772 | 0.01% |
| DFAX | DIMENSIONAL ETF TRUST | $1.7M | 49,074 | 0.01% |
| EQBK | EQUITY BANCSHARES INC | $1.6M | 35,681 | 0.01% |
| PNFP | PINNACLE FINL PARTNERS INC | $1.5M | 17,475 | 0.01% |
| SOLS | SOLSTICE ADVANCED MATLS INC | $1.2M | 15,260 | 0.01% |
| AMCR | AMCOR PLC | $1.1M | 27,032 | 0.01% |
| PAPR | INNOVATOR ETFS TRUST | $1.0M | 25,246 | 0.01% |
| SILJ | AMPLIFY ETF TR | $915,799 | 33,152 | 0.01% |
| Q | QNITY ELECTRONICS INC | $913,820 | 7,920 | 0.01% |
| KNRG | SIMPLIFY EXCHANGE TRADED FUN | $808,146 | 31,798 | 0.01% |
| GRNY | TIDAL TRUST I | $794,417 | 33,281 | 0.01% |
| BAPR | INNOVATOR ETFS TRUST | $749,443 | 15,301 | 0.00% |
| PYLD | PIMCO ETF TR | $747,250 | 28,521 | 0.00% |
| NBIS | NEBIUS GROUP N.V. | $735,036 | 7,084 | 0.00% |
| NUKZ | EXCHANGE TRADED CONCEPTS TRU | $711,635 | 10,820 | 0.00% |
| EWJ | ISHARES INC | $626,551 | 7,420 | 0.00% |
| HTFL | HEARTFLOW INC | $613,457 | 25,214 | 0.00% |
| FIGR | FIGURE TECHNOLOGY SOLUTIO | $597,554 | 17,601 | 0.00% |
| CALF | PACER FDS TR | $592,374 | 13,202 | 0.00% |
| THIR | THOR FINL TECHNOLOGIES TR | $585,559 | 18,882 | 0.00% |
| UI | UBIQUITI INC | $544,510 | 689 | 0.00% |
| MOH | MOLINA HEALTHCARE INC | $530,001 | 3,976 | 0.00% |
| NBR | NABORS INDUSTRIES LTD | $529,871 | 6,157 | 0.00% |
Closed out (62)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| AZNN | ASTRAZENECA PLC | $4.6M | 49,922 | 0.00% |
| BSCQ | INVESCO EXCH TRD SLF IDX FD | $2.4M | 124,904 | 0.00% |
| PMT 5.5 03/15/26 | PENNYMAC CORP | $1.5M | 1,444,000 | 0.00% |
| INN 1.5 02/15/26 | SUMMIT HOTEL PPTYS | $1.2M | 1,265,000 | 0.00% |
| AMCR | AMCOR PLC | $1.0M | 125,779 | 0.00% |
| SYU1 | SYNOVUS FINL CORP | $889,799 | 17,778 | 0.00% |
| PINNACLE FINL PARTNERS I | PINNACLE FINL PARTNERS INC | $850,181 | 8,910 | 0.00% |
| VAC 0 01/15/26 | MARRIOTT VACATIONS WORLDWIDE | $694,743 | 702,000 | 0.00% |
| CMA | COMERICA INC | $665,191 | 7,652 | 0.00% |
| SHYG | ISHARES TR | $554,738 | 12,940 | 0.00% |
| GBTC | GRAYSCALE BITCOIN TRUST ETF | $491,857 | 7,195 | 0.00% |
| DAY | DAYFORCE INC | $397,739 | 5,751 | 0.00% |
| FOUR | SHIFT4 PMTS INC | $391,359 | 6,215 | 0.00% |
| NKTR | NEKTAR THERAPEUTICS | $390,836 | 9,244 | 0.00% |
| EZPZ | FRANKLIN CRYPTO INDEX ETF | $389,540 | 17,203 | 0.00% |
| CADE | CADENCE BANK | $349,917 | 8,168 | 0.00% |
| EXK | EXACT SCIENCES CORP | $339,515 | 3,343 | 0.00% |
| CYBR | CYBERARK SOFTWARE LTD | $329,192 | 738 | 0.00% |
| DOX | AMDOCS LTD | $326,790 | 4,059 | 0.00% |
| 62C | PIPER SANDLER COMPANIES | $324,083 | 954 | 0.00% |
| EQL | ALPS ETF TR | $300,682 | 6,483 | 0.00% |
| GOSS | GOSSAMER BIO INC | $297,364 | 95,924 | 0.00% |
| SLVP | ISHARES INC | $286,566 | 8,362 | 0.00% |
| EHC | ENCOMPASS HEALTH CORP | $286,153 | 2,696 | 0.00% |
| SCHR | SCHWAB STRATEGIC TR | $271,607 | 10,829 | 0.00% |
Added to (852)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| VIG | VANGUARD SPECIALIZED FUNDS | $1.2B | 5,763,602 | 7.96% | +1% |
| JCPB | J P MORGAN EXCHANGE TRADED F | $676.2M | 14,422,179 | 4.39% | +16% |
| AVUS | AMERICAN CENTY ETF TR | $638.7M | 5,744,706 | 4.14% | +9% |
| VXUS | VANGUARD STAR FDS | $618.3M | 8,063,098 | 4.01% | +6% |
| JPST | J P MORGAN EXCHANGE TRADED F | $480.9M | 9,550,931 | 3.12% | +1% |
| AAPL | APPLE INC | $403.2M | 1,588,842 | 2.62% | +3% |
| QLTY | GMO ETF TRUST | $213.6M | 5,905,175 | 1.39% | +1079% |
| MSFT | MICROSOFT CORP | $200.1M | 540,626 | 1.30% | +2% |
| NVDA | NVIDIA CORPORATION | $193.0M | 1,106,883 | 1.25% | +9% |
| GSLC | GOLDMAN SACHS ETF TR | $156.2M | 1,248,350 | 1.01% | +3% |
| IVV | ISHARES TR | $146.6M | 224,445 | 0.95% | +4% |
| AMZN | AMAZON COM INC | $133.0M | 638,805 | 0.86% | +3% |
| GOOGL | ALPHABET INC | $130.9M | 455,267 | 0.85% | +5% |
| JMST | J P MORGAN EXCHANGE TRADED F | $130.1M | 2,551,982 | 0.84% | +17% |
| VOO | VANGUARD INDEX FDS | $117.7M | 196,976 | 0.76% | +2% |
Trimmed (269)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| BAND 0.5 04/01/28 | BANDWIDTH INC | $290,235 | 327,000 | 0.00% | -81% |
| PEB 1.75 12/15/26 | PEBBLEBROOK HOTEL TR | $413,971 | 422,000 | 0.00% | -69% |
| BSCR | INVESCO EXCH TRD SLF IDX FD | $535,102 | 27,266 | 0.00% | -69% |
| BXMT 5.5 03/15/27 | BLACKSTONE MORTGAGE TRUST IN | $454,776 | 459,000 | 0.00% | -69% |
| SNAP 0 05/01/27 | SNAP INC | $337,629 | 358,000 | 0.00% | -67% |
| RDFN 0.5 04/01/27 | REDFIN CORP | $429,979 | 450,000 | 0.00% | -65% |
| MGPI 1.875 11/15/41 | MGP INGREDIENTS INC NEW | $542,926 | 567,000 | 0.00% | -64% |
| CAG | CONAGRA BRANDS INC | $339,869 | 21,620 | 0.00% | -62% |
| SPB 3.375 06/01/29 | SPECTRUM BRANDS INC | $404,445 | 411,000 | 0.00% | -58% |
| PRMB | PRIMO BRANDS CORPORATION | $203,420 | 10,803 | 0.00% | -57% |
| TSLX | SIXTH STREET SPECIALTY LENDI | $634,420 | 34,516 | 0.00% | -54% |
| KYN | KAYNE ANDERSON ENERGY INFRST | $634,332 | 44,421 | 0.00% | -53% |
| LYFT | LYFT INC | $170,054 | 12,786 | 0.00% | -53% |
| COWG | PACER FDS TR | $441,878 | 13,097 | 0.00% | -52% |
| PNR | PENTAIR PLC | $382,849 | 4,395 | 0.00% | -52% |
The book
Largest 150 of 1,526 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| VTI | VANGUARD INDEX FDS | $2.7B | 8,726,405 | 17.28% | — |
| VIG | VANGUARD SPECIALIZED FUNDS | $1.2B | 5,763,602 | 7.96% | — |
| JCPB | J P MORGAN EXCHANGE TRADED F | $676.2M | 14,422,179 | 4.39% | — |
| AVUS | AMERICAN CENTY ETF TR | $638.7M | 5,744,706 | 4.14% | — |
| VXUS | VANGUARD STAR FDS | $618.3M | 8,063,098 | 4.01% | — |
| JPST | J P MORGAN EXCHANGE TRADED F | $480.9M | 9,550,931 | 3.12% | — |
| AAPL | APPLE INC | $403.2M | 1,588,842 | 2.62% | — |
| SPY | STATE STR SPDR S&P 500 ETF T | $296.9M | 456,556 | 1.93% | — |
| IVW | ISHARES TR | $253.0M | 2,236,643 | 1.64% | — |
| SPYG | SPDR SERIES TRUST | $251.3M | 2,767,124 | 1.63% | — |
| HD | HOME DEPOT INC | $223.5M | 679,680 | 1.45% | — |
| QLTY | GMO ETF TRUST | $213.6M | 5,905,175 | 1.39% | — |
| MSFT | MICROSOFT CORP | $200.1M | 540,626 | 1.30% | — |
| NVDA | NVIDIA CORPORATION | $193.0M | 1,106,883 | 1.25% | — |
| SCHB | SCHWAB STRATEGIC TR | $165.5M | 6,595,221 | 1.07% | — |
| GSLC | GOLDMAN SACHS ETF TR | $156.2M | 1,248,350 | 1.01% | — |
| IVV | ISHARES TR | $146.6M | 224,445 | 0.95% | — |
| ITOT | ISHARES TR | $142.8M | 1,002,300 | 0.93% | — |
| AVDE | AMERICAN CENTY ETF TR | $141.3M | 1,664,927 | 0.92% | — |
| AMZN | AMAZON COM INC | $133.0M | 638,805 | 0.86% | — |
| GOOGL | ALPHABET INC | $130.9M | 455,267 | 0.85% | — |
| JMST | J P MORGAN EXCHANGE TRADED F | $130.1M | 2,551,982 | 0.84% | — |
| VOO | VANGUARD INDEX FDS | $117.7M | 196,976 | 0.76% | — |
| GSIE | GOLDMAN SACHS ETF TR | $110.2M | 2,554,536 | 0.71% | — |
| GOOG | ALPHABET INC | $99.3M | 346,079 | 0.64% | — |
| TROW | PRICE T ROWE GROUP INC | $88.3M | 980,026 | 0.57% | — |
| AVEM | AMERICAN CENTY ETF TR | $85.5M | 1,060,539 | 0.55% | — |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $85.4M | 178,143 | 0.55% | — |
| AVGO | BROADCOM INC | $82.3M | 266,035 | 0.53% | — |
| SCHX | SCHWAB STRATEGIC TR | $78.6M | 3,067,334 | 0.51% | — |
| VEU | VANGUARD INTL EQUITY INDEX F | $76.8M | 1,022,660 | 0.50% | — |
| JPM | JPMORGAN CHASE & CO | $75.8M | 257,834 | 0.49% | — |
| JNJ | JOHNSON & JOHNSON | $74.1M | 303,233 | 0.48% | — |
| DUHP | DIMENSIONAL ETF TRUST | $73.1M | 1,987,725 | 0.47% | — |
| ALB | ALBEMARLE CORP | $72.5M | 403,557 | 0.47% | — |
| DFAC | DIMENSIONAL ETF TRUST | $71.2M | 1,831,592 | 0.46% | — |
| EXMOC | EXXON MOBIL CORP | $59.2M | 348,977 | 0.38% | — |
| V | VISA INC | $58.7M | 194,330 | 0.38% | — |
| LLY | ELI LILLY & CO | $58.0M | 63,028 | 0.38% | — |
| DFAU | DIMENSIONAL ETF TRUST | $57.7M | 1,278,772 | 0.37% | — |
| META | META PLATFORMS INC | $57.6M | 100,664 | 0.37% | — |
| QQQ | INVESCO QQQ TR | $56.1M | 97,210 | 0.36% | — |
| WMT | WALMART INC | $54.4M | 437,733 | 0.35% | — |
| SCHG | SCHWAB STRATEGIC TR | $50.6M | 1,737,859 | 0.33% | — |
| IWD | ISHARES TR | $50.5M | 236,311 | 0.33% | — |
| SCHD | SCHWAB STRATEGIC TR | $50.4M | 1,643,156 | 0.33% | — |
| KO | COCA COLA CO | $47.8M | 629,106 | 0.31% | — |
| IWF | ISHARES TR | $45.2M | 106,056 | 0.29% | — |
| RSP | INVESCO EXCHANGE TRADED FD T | $43.8M | 228,456 | 0.28% | — |
| TSLA | TESLA INC | $43.6M | 117,245 | 0.28% | — |
| HTRB | HARTFORD FDS EXCHANGE TRADED | $40.8M | 1,210,171 | 0.26% | — |
| GEM | GOLDMAN SACHS ETF TR | $40.6M | 940,014 | 0.26% | — |
| AVUV | AMERICAN CENTY ETF TR | $39.9M | 361,409 | 0.26% | — |
| PG | PROCTER & GAMBLE CO | $38.9M | 269,183 | 0.25% | — |
| CVX | CHEVRON CORPORATION | $38.8M | 187,340 | 0.25% | — |
| JSCP | J P MORGAN EXCHANGE TRADED F | $35.6M | 752,086 | 0.23% | — |
| VUG | VANGUARD INDEX FDS | $35.3M | 80,808 | 0.23% | — |
| SCHF | SCHWAB STRATEGIC TR | $35.0M | 1,413,474 | 0.23% | — |
| CAT | CATERPILLAR INC | $33.2M | 46,888 | 0.22% | — |
| CSCO | CISCO SYS INC | $32.8M | 422,373 | 0.21% | — |
| VO | VANGUARD INDEX FDS | $32.6M | 113,646 | 0.21% | — |
| T | AT&T INC | $32.5M | 1,120,220 | 0.21% | — |
| RTX | RTX CORPORATION | $31.6M | 163,866 | 0.21% | — |
| MINT | PIMCO ETF TR | $30.7M | 305,731 | 0.20% | — |
| ABBV | ABBVIE INC | $30.7M | 141,104 | 0.20% | — |
| COST | COSTCO WHOLESALE CORPORATION | $30.5M | 30,632 | 0.20% | — |
| IJR | ISHARES TR | $30.4M | 244,385 | 0.20% | — |
| IWV | ISHARES TR | $29.8M | 80,307 | 0.19% | — |
| GLD | SPDR GOLD TR | $29.5M | 68,661 | 0.19% | — |
| MRK | MERCK & CO INC | $29.0M | 241,439 | 0.19% | — |
| EFA | ISHARES TR | $28.5M | 293,508 | 0.18% | — |
| MGK | VANGUARD WORLD FD | $27.8M | 75,664 | 0.18% | — |
| ORCL | ORACLE CORP | $27.3M | 185,529 | 0.18% | — |
| MCD | MCDONALDS CORP | $27.0M | 86,975 | 0.18% | — |
| MA | MASTERCARD INCORPORATED | $26.2M | 52,428 | 0.17% | — |
| LRCX | LAM RESEARCH CORP | $24.4M | 114,207 | 0.16% | — |
| VB | VANGUARD INDEX FDS | $23.9M | 91,104 | 0.15% | — |
| ACN | ACCENTURE PLC IRELAND | $23.3M | 117,501 | 0.15% | — |
| PEP | PEPSICO INC | $23.2M | 149,599 | 0.15% | — |
| DGRW | WISDOMTREE TR | $23.2M | 263,766 | 0.15% | — |
| NFLX | NETFLIX INC. | $22.8M | 237,387 | 0.15% | — |
| HDV | ISHARES TR | $22.8M | 168,114 | 0.15% | — |
| IBM | INTERNATIONAL BUSINESS MACHS | $22.8M | 94,006 | 0.15% | — |
| HONGBP | HONEYWELL INTL INC | $21.0M | 92,990 | 0.14% | — |
| BAC | BANK AMERICA CORP | $20.8M | 427,643 | 0.14% | — |
| NEE | NEXTERA ENERGY INC | $20.5M | 220,760 | 0.13% | — |
| DVY | ISHARES TR | $20.5M | 135,137 | 0.13% | — |
| VGT | VANGUARD WORLD FD | $20.3M | 29,116 | 0.13% | — |
| AXP | AMERICAN EXPRESS CO | $20.2M | 66,907 | 0.13% | — |
| AMGN | AMGEN INC | $19.8M | 56,143 | 0.13% | — |
| DGRO | ISHARES TR | $19.7M | 280,645 | 0.13% | — |
| IEFA | ISHARES TR | $19.6M | 216,717 | 0.13% | — |
| BRK/A | BERKSHIRE HATHAWAY INC DEL | $19.4M | 27 | 0.13% | — |
| NEU | NEWMARKET CORP | $19.2M | 29,946 | 0.12% | — |
| VEA | VANGUARD TAX-MANAGED FDS | $18.9M | 295,068 | 0.12% | — |
| VONG | VANGUARD SCOTTSDALE FDS | $18.7M | 170,845 | 0.12% | — |
| MS | MORGAN STANLEY | $18.5M | 112,615 | 0.12% | — |
| SO | SOUTHERN CO | $18.5M | 191,309 | 0.12% | — |
| ABT | ABBOTT LABORATORIES | $18.4M | 179,588 | 0.12% | — |
| IAU | ISHARES GOLD TR | $18.2M | 206,417 | 0.12% | — |
| PM | PHILIP MORRIS INTL INC | $17.0M | 102,958 | 0.11% | — |
| TXN | TEXAS INSTRS INC | $16.2M | 83,589 | 0.11% | — |
| GS | GOLDMAN SACHS GROUP INC | $16.1M | 19,083 | 0.10% | — |
| SLDE | SLIDE INS HLDGS INC | $16.1M | 892,403 | 0.10% | — |
| IXUS | ISHARES TR | $15.7M | 180,736 | 0.10% | — |
| CB | CHUBB LTD SWITZ | $15.5M | 47,449 | 0.10% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $15.4M | 45,536 | 0.10% | — |
| IWB | ISHARES TR | $15.1M | 42,229 | 0.10% | — |
| GD | GENERAL DYNAMICS CORP | $15.0M | 43,760 | 0.10% | — |
| UNP | UNION PAC CORP | $14.8M | 61,174 | 0.10% | — |
| ACWV | ISHARES INC | $14.7M | 122,732 | 0.10% | — |
| AMD | ADVANCED MICRO DEVICES INC | $14.6M | 71,721 | 0.09% | — |
| MGV | VANGUARD WORLD FD | $14.2M | 97,653 | 0.09% | — |
| PLTR | PALANTIR TECHNOLOGIES INC | $14.1M | 96,614 | 0.09% | — |
| VT | VANGUARD INTL EQUITY INDEX F | $14.0M | 101,448 | 0.09% | — |
| MGC | VANGUARD WORLD FD | $14.0M | 59,355 | 0.09% | — |
| GEV | GE VERNOVA INC | $13.9M | 15,964 | 0.09% | — |
| VTV | VANGUARD INDEX FDS | $13.8M | 70,402 | 0.09% | — |
| VBR | VANGUARD INDEX FDS | $13.8M | 63,575 | 0.09% | — |
| ILOW | AB ACTIVE ETFS INC | $13.8M | 322,516 | 0.09% | — |
| IGM | ISHARES TR | $13.7M | 115,929 | 0.09% | — |
| USB | US BANCORP | $13.7M | 263,377 | 0.09% | — |
| LOW | LOWES COS INC | $13.6M | 57,577 | 0.09% | — |
| MU | MICRON TECHNOLOGY INC | $13.6M | 40,117 | 0.09% | — |
| DFUS | DIMENSIONAL ETF TRUST | $13.4M | 189,380 | 0.09% | — |
| UNH | UNITEDHEALTH GROUP INC | $13.3M | 49,228 | 0.09% | — |
| VV | VANGUARD INDEX FDS | $13.1M | 43,989 | 0.09% | — |
| IJH | ISHARES TR | $13.1M | 193,452 | 0.08% | — |
| VYM | VANGUARD WHITEHALL FDS | $13.0M | 87,951 | 0.08% | — |
| SDY | SPDR SERIES TRUST | $13.0M | 89,123 | 0.08% | — |
| TMO | THERMO FISHER SCIENTIFIC INC | $12.8M | 26,063 | 0.08% | — |
| ISRG | INTUITIVE SURGICAL INC | $12.7M | 27,536 | 0.08% | — |
| KLAC | KLA CORP | $12.7M | 8,596 | 0.08% | — |
| ICE | INTERCONTINENTAL EXCHANGE IN | $12.6M | 80,419 | 0.08% | — |
| AMAT | APPLIED MATLS INC | $12.6M | 36,844 | 0.08% | — |
| CRH | CRH PLC | $12.3M | 117,286 | 0.08% | — |
| UBER | UBER TECHNOLOGIES INC | $12.3M | 171,158 | 0.08% | — |
| PWR | QUANTA SVCS INC | $12.3M | 22,395 | 0.08% | — |
| AGG | ISHARES TR | $12.1M | 121,691 | 0.08% | — |
| IWM | ISHARES TR | $12.0M | 48,265 | 0.08% | — |
| ACWI | ISHARES TR | $11.9M | 85,709 | 0.08% | — |
| GE | GE AEROSPACE | $11.8M | 41,612 | 0.08% | — |
| DAL | DELTA AIR LINES INC | $11.8M | 177,145 | 0.08% | — |
| TJX | TJX COS INC NEW | $11.5M | 72,218 | 0.07% | — |
| WFC | WELLS FARGO & CO | $11.5M | 144,344 | 0.07% | — |
| FDX | FEDEX CORP | $11.4M | 31,962 | 0.07% | — |
| PNC | PNC FINL SVCS GROUP INC | $11.3M | 54,330 | 0.07% | — |
| C | CITIGROUP INC | $11.2M | 99,177 | 0.07% | — |
| DHR | DANAHER CORP DEL | $10.9M | 57,271 | 0.07% | — |
| DUK | DUKE ENERGY CORP NEW | $10.8M | 82,846 | 0.07% | — |
This table is the 150 largest positions by value, out of 1,526 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 21 options positions with a combined notional of $36.5M. 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 HB Wealth Management, LLC (CIK 1911253, accession 0001172661-26-001543). 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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