13F holdings
Kestra Investment Management, LLC portfolio
Managed by . 439 reported positions worth $5.8B as of 2026-03-31, filed with the SEC on 2026-05-11. Parsed from the filing itself, not a reseller.
$5.8B
Book value
439
Positions
45%
Top 10 weight
+96
New this quarter
-86
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 41 days old on 2026-05-11, 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 (96)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| VXF | VANGUARD INDEX FDS | $104.6M | 508,333 | 1.80% |
| SPTI | SPDR SERIES TRUST | $82.2M | 2,868,259 | 1.42% |
| IAGG | ISHARES TR | $36.8M | 736,346 | 0.64% |
| JPIB | J P MORGAN EXCHANGE TRADED F | $31.7M | 663,626 | 0.55% |
| XFIV | BONDBLOXX ETF TRUST | $31.5M | 639,942 | 0.54% |
| SCHO | SCHWAB STRATEGIC TR | $29.3M | 1,208,324 | 0.51% |
| XEMD | BONDBLOXX ETF TRUST | $22.2M | 504,648 | 0.38% |
| DFCF | DIMENSIONAL ETF TRUST | $14.2M | 335,901 | 0.24% |
| PAAA | PGIM ETF TR | $7.9M | 154,021 | 0.14% |
| CGSD | CAPITAL GRP FIXED INCM ETF T | $6.2M | 240,119 | 0.11% |
| CAIE | CALAMOS ETF TR | $4.2M | 168,151 | 0.07% |
| KEYS | KEYSIGHT TECHNOLOGIES INC | $3.6M | 12,899 | 0.06% |
| BWA | BORGWARNER INC | $3.1M | 57,129 | 0.05% |
| PFE | PFIZER INC | $2.9M | 101,867 | 0.05% |
| USB | US BANCORP | $2.4M | 46,946 | 0.04% |
| RNG | RINGCENTRAL INC | $2.0M | 53,303 | 0.03% |
| PAYX | PAYCHEX INC | $1.7M | 18,539 | 0.03% |
| MRVL | MARVELL TECHNOLOGY INC | $1.6M | 16,500 | 0.03% |
| WBS | WEBSTER FINL CORP | $1.5M | 22,146 | 0.03% |
| DECK | DECKERS OUTDOOR CORP | $1.4M | 13,499 | 0.02% |
| W | WAYFAIR INC | $1.3M | 16,799 | 0.02% |
| FMC | FMC CORP | $1.1M | 64,942 | 0.02% |
| BEN | FRANKLIN RESOURCES INC | $1.1M | 47,201 | 0.02% |
| TTEK | TETRA TECH INC NEW | $1.1M | 36,546 | 0.02% |
| COKE | COCA COLA CONS INC | $1.0M | 5,461 | 0.02% |
Closed out (86)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| MTUM | ISHARES TR | $35.0M | 139,788 | 0.00% |
| MEAR | ISHARES U S ETF TR | $19.8M | 393,836 | 0.00% |
| HIMU | BLACKROCK ETF TRUST II | $13.2M | 271,457 | 0.00% |
| DGCB | DIMENSIONAL ETF TRUST | $6.1M | 112,523 | 0.00% |
| HYD | VANECK ETF TRUST | $4.3M | 83,920 | 0.00% |
| EMHY | ISHARES INC | $3.9M | 95,908 | 0.00% |
| SPMO | INVESCO EXCH TRADED FD TR II | $3.6M | 29,946 | 0.00% |
| DFGP | DIMENSIONAL ETF TRUST | $3.1M | 56,533 | 0.00% |
| FYEE | FIDELITY GREENWOOD STREET TR | $2.7M | 92,480 | 0.00% |
| TOPT | ISHARES TR | $2.6M | 84,092 | 0.00% |
| TWLO | TWILIO INC | $2.6M | 18,066 | 0.00% |
| MAT | MATTEL INC | $2.1M | 107,157 | 0.00% |
| RL | RALPH LAUREN CORP | $2.0M | 5,726 | 0.00% |
| MSI | MOTOROLA SOLUTIONS INC | $1.9M | 5,052 | 0.00% |
| MCK | MCKESSON CORP | $1.8M | 2,224 | 0.00% |
| ZBRA | ZEBRA TECHNOLOGIES CORPORATI | $1.4M | 5,677 | 0.00% |
| ADBE | ADOBE INC | $1.3M | 3,791 | 0.00% |
| MTZ | MASTEC INC | $1.2M | 5,703 | 0.00% |
| P | PURE STORAGE INC | $1.2M | 18,046 | 0.00% |
| JBL | JABIL INC | $1.1M | 4,661 | 0.00% |
| BUFR | FIRST TR EXCHNG TRADED FD VI | $1.0M | 30,418 | 0.00% |
| STT | STATE STR CORP | $1.0M | 7,976 | 0.00% |
| PGR | PROGRESSIVE CORP | $1.0M | 4,462 | 0.00% |
| TLN | TALEN ENERGY CORP | $1.0M | 2,668 | 0.00% |
| VEEV | VEEVA SYS INC | $972,613 | 4,357 | 0.00% |
Added to (195)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| IUSV | ISHARES TR | $398.1M | 3,893,371 | 6.87% | +3% |
| VEU | VANGUARD INTL EQUITY INDEX F | $363.2M | 4,836,410 | 6.26% | +68% |
| IUSB | ISHARES TR | $353.2M | 7,645,647 | 6.09% | +66% |
| SPYG | SPDR SERIES TRUST | $350.4M | 3,579,192 | 6.04% | +37% |
| AVEM | AMERICAN CENTY ETF TR | $245.9M | 3,051,056 | 4.24% | +107% |
| DFIV | DIMENSIONAL ETF TRUST | $212.5M | 4,025,407 | 3.66% | +65% |
| QUAL | ISHARES TR | $178.5M | 930,665 | 3.08% | +14% |
| VGIT | VANGUARD SCOTTSDALE FDS | $178.4M | 2,996,562 | 3.08% | +380% |
| DIHP | DIMENSIONAL ETF TRUST | $165.5M | 5,137,263 | 2.85% | +92% |
| CGGR | CAPITAL GROUP GROWTH ETF | $153.2M | 3,811,756 | 2.64% | +82% |
| CGDV | CAPITAL GROUP DIVIDEND VALUE | $140.3M | 3,298,834 | 2.42% | +61% |
| PAVE | GLOBAL X FDS | $136.9M | 2,695,326 | 2.36% | +300% |
| FTEC | FIDELITY COVINGTON TRUST | $113.9M | 547,277 | 1.96% | +96% |
| IVE | ISHARES TR | $109.9M | 520,387 | 1.90% | +96% |
| BNDX | VANGUARD CHARLOTTE FDS | $103.9M | 2,163,059 | 1.79% | +180% |
Trimmed (129)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| USIG | ISHARES TR | $299,043 | 5,837 | 0.01% | -99% |
| JAAA | JANUS DETROIT STR TR | $987,378 | 19,602 | 0.02% | -99% |
| IGSB | ISHARES TR | $256,504 | 4,880 | 0.00% | -99% |
| VO | VANGUARD INDEX FDS | $1.8M | 6,143 | 0.03% | -98% |
| IGLB | ISHARES TR | $962,966 | 19,403 | 0.02% | -98% |
| HYDB | ISHARES TR | $548,416 | 11,789 | 0.01% | -98% |
| USRT | ISHARES TR | $783,693 | 13,240 | 0.01% | -96% |
| CGMS | CAPITAL GRP FIXED INCM ETF T | $861,091 | 31,623 | 0.01% | -88% |
| ICVT | ISHARES TR | $461,218 | 4,531 | 0.01% | -87% |
| ALITEUR | ALIGHT INC | $10,367 | 17,790 | 0.00% | -83% |
| EME | EMCOR GROUP INC | $378,559 | 513 | 0.01% | -81% |
| SPMB | SPDR SERIES TRUST | $775,889 | 34,653 | 0.01% | -79% |
| FBND | FIDELITY MERRIMACK STR TR | $1.6M | 35,985 | 0.03% | -78% |
| FBUF | FIDELITY GREENWOOD STREET TR | $427,068 | 14,189 | 0.01% | -73% |
| MPT | MEDICAL PROPERTIES TRUST INC | $58,392 | 12,611 | 0.00% | -72% |
The book
Largest 150 of 439 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| IUSV | ISHARES TR | $398.1M | 3,893,371 | 6.87% | — |
| VEU | VANGUARD INTL EQUITY INDEX F | $363.2M | 4,836,410 | 6.26% | — |
| IUSB | ISHARES TR | $353.2M | 7,645,647 | 6.09% | — |
| SPYG | SPDR SERIES TRUST | $350.4M | 3,579,192 | 6.04% | — |
| AVEM | AMERICAN CENTY ETF TR | $245.9M | 3,051,056 | 4.24% | — |
| DFIV | DIMENSIONAL ETF TRUST | $212.5M | 4,025,407 | 3.66% | — |
| QUAL | ISHARES TR | $178.5M | 930,665 | 3.08% | — |
| VGIT | VANGUARD SCOTTSDALE FDS | $178.4M | 2,996,562 | 3.08% | — |
| IUSG | ISHARES TR | $175.9M | 1,133,813 | 3.03% | — |
| DIHP | DIMENSIONAL ETF TRUST | $165.5M | 5,137,263 | 2.85% | — |
| CGGR | CAPITAL GROUP GROWTH ETF | $153.2M | 3,811,756 | 2.64% | — |
| CGDV | CAPITAL GROUP DIVIDEND VALUE | $140.3M | 3,298,834 | 2.42% | — |
| PAVE | GLOBAL X FDS | $136.9M | 2,695,326 | 2.36% | — |
| FTEC | FIDELITY COVINGTON TRUST | $113.9M | 547,277 | 1.96% | — |
| IVE | ISHARES TR | $109.9M | 520,387 | 1.90% | — |
| VXF | VANGUARD INDEX FDS | $104.6M | 508,333 | 1.80% | — |
| BNDX | VANGUARD CHARLOTTE FDS | $103.9M | 2,163,059 | 1.79% | — |
| MUB | ISHARES TR | $97.3M | 916,625 | 1.68% | — |
| STIP | ISHARES TR | $95.5M | 923,635 | 1.65% | — |
| BINC | BLACKROCK ETF TRUST II | $95.4M | 1,836,270 | 1.64% | — |
| DEM | WISDOMTREE TR | $94.9M | 1,910,625 | 1.64% | — |
| DFIC | DIMENSIONAL ETF TRUST | $90.9M | 2,557,353 | 1.57% | — |
| VWO | VANGUARD INTL EQUITY INDEX F | $90.2M | 1,668,727 | 1.56% | — |
| SPTI | SPDR SERIES TRUST | $82.2M | 2,868,259 | 1.42% | — |
| TOTL | SSGA ACTIVE ETF TR | $78.7M | 1,981,354 | 1.36% | — |
| DFAI | DIMENSIONAL ETF TRUST | $70.4M | 1,806,176 | 1.21% | — |
| VWOB | VANGUARD WHITEHALL FDS | $69.1M | 1,052,328 | 1.19% | — |
| LRGF | ISHARES TR | $63.6M | 964,191 | 1.10% | — |
| MLN | VANECK ETF TRUST | $56.7M | 3,251,917 | 0.98% | — |
| FSMD | FIDELITY COVINGTON TRUST | $55.0M | 1,230,588 | 0.95% | — |
| VTEB | VANGUARD MUN BD FDS | $54.8M | 1,098,741 | 0.95% | — |
| MBB | ISHARES TR | $51.7M | 544,803 | 0.89% | — |
| CGCP | CAPITAL GRP FIXED INCM ETF T | $44.8M | 2,003,929 | 0.77% | — |
| FDVV | FIDELITY COVINGTON TRUST | $44.3M | 801,268 | 0.76% | — |
| ONEY | SPDR SERIES TRUST | $42.1M | 350,816 | 0.73% | — |
| IAGG | ISHARES TR | $36.8M | 736,346 | 0.64% | — |
| INTF | ISHARES TR | $33.6M | 863,114 | 0.58% | — |
| VMBS | VANGUARD SCOTTSDALE FDS | $32.7M | 696,072 | 0.56% | — |
| JPIB | J P MORGAN EXCHANGE TRADED F | $31.7M | 663,626 | 0.55% | — |
| CGIB | CAPITAL GRP FIXED INCM ETF T | $31.7M | 1,256,014 | 0.55% | — |
| CGMM | CAPITAL GROUP EQUITY ETF TR | $31.6M | 1,077,203 | 0.55% | — |
| JMBS | JANUS DETROIT STR TR | $31.5M | 696,640 | 0.54% | — |
| XFIV | BONDBLOXX ETF TRUST | $31.5M | 639,942 | 0.54% | — |
| SCHO | SCHWAB STRATEGIC TR | $29.3M | 1,208,324 | 0.51% | — |
| NVDA | NVIDIA CORPORATION | $29.1M | 167,142 | 0.50% | — |
| CGGO | CAPITAL GROUP GBL GROWTH EQT | $23.9M | 716,897 | 0.41% | — |
| XEMD | BONDBLOXX ETF TRUST | $22.2M | 504,648 | 0.38% | — |
| MSFT | MICROSOFT CORP | $21.9M | 59,166 | 0.38% | — |
| AAPL | APPLE INC | $21.1M | 83,101 | 0.36% | — |
| DFUS | DIMENSIONAL ETF TRUST | $17.9M | 252,541 | 0.31% | — |
| AVLV | AMERICAN CENTY ETF TR | $17.7M | 219,931 | 0.31% | — |
| AVUS | AMERICAN CENTY ETF TR | $17.7M | 158,988 | 0.30% | — |
| AVUV | AMERICAN CENTY ETF TR | $15.0M | 135,582 | 0.26% | — |
| DFCF | DIMENSIONAL ETF TRUST | $14.2M | 335,901 | 0.24% | — |
| DFGX | DIMENSIONAL ETF TRUST | $13.6M | 258,466 | 0.23% | — |
| AVDV | AMERICAN CENTY ETF TR | $11.5M | 115,444 | 0.20% | — |
| GOOGL | ALPHABET INC | $10.9M | 37,895 | 0.19% | — |
| DFSD | DIMENSIONAL ETF TRUST | $10.1M | 210,864 | 0.17% | — |
| MUNI | PIMCO ETF TR | $9.9M | 188,886 | 0.17% | — |
| AVIG | AMERICAN CENTY ETF TR | $9.4M | 225,124 | 0.16% | — |
| PAAA | PGIM ETF TR | $7.9M | 154,021 | 0.14% | — |
| INFL | LISTED FDS TR | $7.6M | 146,401 | 0.13% | — |
| DUHP | DIMENSIONAL ETF TRUST | $7.3M | 198,262 | 0.13% | — |
| AMZN | AMAZON COM INC | $7.1M | 34,202 | 0.12% | — |
| AVGO | BROADCOM INC | $7.1M | 22,868 | 0.12% | — |
| QCOM | QUALCOMM INC | $7.0M | 53,994 | 0.12% | — |
| JPM | JPMORGAN CHASE & CO | $6.9M | 23,296 | 0.12% | — |
| MU | MICRON TECHNOLOGY INC | $6.4M | 18,903 | 0.11% | — |
| CGSD | CAPITAL GRP FIXED INCM ETF T | $6.2M | 240,119 | 0.11% | — |
| META | META PLATFORMS INC | $5.8M | 10,065 | 0.10% | — |
| JANUS HENDERSON GROUP PL | JANUS HENDERSON GROUP PLC | $5.3M | 102,785 | 0.09% | — |
| VOO | VANGUARD INDEX FDS | $5.1M | 8,597 | 0.09% | — |
| IVV | ISHARES TR | $4.9M | 7,505 | 0.08% | — |
| QRVO | QORVO INC | $4.9M | 63,151 | 0.08% | — |
| PM | PHILIP MORRIS INTL INC | $4.8M | 29,185 | 0.08% | — |
| CSCO | CISCO SYS INC | $4.7M | 60,171 | 0.08% | — |
| JNJ | JOHNSON & JOHNSON | $4.5M | 18,357 | 0.08% | — |
| CHWY | CHEWY INC | $4.5M | 165,406 | 0.08% | — |
| CAIE | CALAMOS ETF TR | $4.2M | 168,151 | 0.07% | — |
| THC | TENET HEALTHCARE CORP | $4.1M | 21,948 | 0.07% | — |
| DFAS | DIMENSIONAL ETF TRUST | $4.1M | 58,192 | 0.07% | — |
| SCHW | SCHWAB CHARLES CORP | $3.9M | 41,499 | 0.07% | — |
| TSLA | TESLA INC | $3.9M | 10,478 | 0.07% | — |
| VTI | VANGUARD INDEX FDS | $3.8M | 11,992 | 0.07% | — |
| DG | DOLLAR GEN CORP | $3.7M | 31,413 | 0.06% | — |
| NRG | NRG ENERGY INC | $3.7M | 25,211 | 0.06% | — |
| KEYS | KEYSIGHT TECHNOLOGIES INC | $3.6M | 12,899 | 0.06% | — |
| DFAC | DIMENSIONAL ETF TRUST | $3.6M | 92,851 | 0.06% | — |
| IEFA | ISHARES TR | $3.5M | 39,089 | 0.06% | — |
| FDX | FEDEX CORP | $3.3M | 9,350 | 0.06% | — |
| LYB | LYONDELLBASELL INDUSTRIES NV | $3.3M | 40,962 | 0.06% | — |
| GOOG | ALPHABET INC | $3.1M | 10,880 | 0.05% | — |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $3.1M | 6,478 | 0.05% | — |
| BWA | BORGWARNER INC | $3.1M | 57,129 | 0.05% | — |
| VZ | VERIZON COMMUNICATIONS INC | $3.1M | 60,944 | 0.05% | — |
| ADSK | AUTODESK INC | $3.0M | 12,395 | 0.05% | — |
| LVS | LAS VEGAS SANDS CORP | $2.9M | 54,130 | 0.05% | — |
| TFSL | TFS FINL CORP | $2.9M | 203,968 | 0.05% | — |
| PFE | PFIZER INC | $2.9M | 101,867 | 0.05% | — |
| NYT | NEW YORK TIMES CO MTN BE | $2.8M | 33,472 | 0.05% | — |
| ALNY | ALNYLAM PHARMACEUTICALS INC | $2.8M | 8,396 | 0.05% | — |
| RSP | INVESCO EXCHANGE TRADED FD T | $2.7M | 14,191 | 0.05% | — |
| ADT | ADT INC DEL | $2.7M | 410,834 | 0.05% | — |
| QQQ | INVESCO QQQ TR | $2.7M | 4,655 | 0.05% | — |
| DELL | DELL TECHNOLOGIES INC | $2.7M | 16,327 | 0.05% | — |
| LLY | ELI LILLY & CO | $2.7M | 2,901 | 0.05% | — |
| MDT | MEDTRONIC PLC | $2.7M | 30,775 | 0.05% | — |
| EXPE | EXPEDIA GROUP INC | $2.7M | 11,534 | 0.05% | — |
| VAL | VALARIS LTD | $2.7M | 27,067 | 0.05% | — |
| RNR | RENAISSANCERE HLDGS LTD | $2.6M | 8,868 | 0.05% | — |
| LNG | CHENIERE ENERGY INC | $2.6M | 9,214 | 0.05% | — |
| INTU | INTUIT | $2.6M | 5,973 | 0.04% | — |
| CF | CF INDUSTRIES HOLD | $2.6M | 19,830 | 0.04% | — |
| UPS | UNITED PARCEL SVCS INC | $2.6M | 26,171 | 0.04% | — |
| HYG | ISHARES TR | $2.6M | 32,324 | 0.04% | — |
| NFLX | NETFLIX INC. | $2.5M | 26,405 | 0.04% | — |
| PEGA | PEGASYSTEMS INC | $2.5M | 59,218 | 0.04% | — |
| WU | WESTERN UN CO | $2.5M | 286,938 | 0.04% | — |
| NTAP | NETAPP INC | $2.5M | 24,056 | 0.04% | — |
| V | VISA INC | $2.5M | 8,115 | 0.04% | — |
| USB | US BANCORP | $2.4M | 46,946 | 0.04% | — |
| ABBV | ABBVIE INC | $2.4M | 11,136 | 0.04% | — |
| MLI | MUELLER INDS INC | $2.4M | 21,667 | 0.04% | — |
| EXMOC | EXXON MOBIL CORP | $2.4M | 14,120 | 0.04% | — |
| STWD | STARWOOD PPTY TR INC | $2.4M | 138,677 | 0.04% | — |
| TPR | TAPESTRY INC | $2.3M | 16,205 | 0.04% | — |
| APAM | ARTISAN PARTNERS ASSET MGMT | $2.3M | 62,392 | 0.04% | — |
| MRK | MERCK & CO INC | $2.2M | 18,594 | 0.04% | — |
| ANF | ABERCROMBIE & FITCH CO | $2.2M | 23,595 | 0.04% | — |
| COR | CENCORA INC | $2.1M | 6,664 | 0.04% | — |
| PCTY | PAYLOCITY HLDG CORP | $2.1M | 19,290 | 0.04% | — |
| AMAT | APPLIED MATLS INC | $2.0M | 5,963 | 0.04% | — |
| ENSG | ENSIGN GROUP INC | $2.0M | 9,899 | 0.03% | — |
| RNG | RINGCENTRAL INC | $2.0M | 53,303 | 0.03% | — |
| RHI | ROBERT HALF INC. | $2.0M | 76,965 | 0.03% | — |
| GILD | GILEAD SCIENCES INC | $1.9M | 13,936 | 0.03% | — |
| ITT | ITT INC | $1.9M | 10,060 | 0.03% | — |
| KNSL | KINSALE CAP GROUP INC | $1.9M | 5,434 | 0.03% | — |
| VTV | VANGUARD INDEX FDS | $1.9M | 9,433 | 0.03% | — |
| LRCX | LAM RESEARCH CORP | $1.8M | 8,615 | 0.03% | — |
| VUG | VANGUARD INDEX FDS | $1.8M | 4,182 | 0.03% | — |
| CAH | CARDINAL HEALTH INC | $1.8M | 8,613 | 0.03% | — |
| CHE | CHEMED CORP NEW | $1.8M | 4,745 | 0.03% | — |
| AIT | APPLIED INDL TECHNOLOGIES IN | $1.8M | 6,751 | 0.03% | — |
| VO | VANGUARD INDEX FDS | $1.8M | 6,143 | 0.03% | — |
| IPGP | IPG PHOTONICS CORP | $1.8M | 15,313 | 0.03% | — |
| FIX | COMFORT SYS USA INC | $1.8M | 1,271 | 0.03% | — |
| CAT | CATERPILLAR INC | $1.7M | 2,444 | 0.03% | — |
| MANH | MANHATTAN ASSOCIATES INC | $1.7M | 12,987 | 0.03% | — |
| ROKU | ROKU INC | $1.7M | 18,057 | 0.03% | — |
This table is the 150 largest positions by value, out of 439 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 Kestra Investment Management, LLC (CIK 1962449, accession 0001962449-26-000002). 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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