13F holdings
LAZARD ASSET MANAGEMENT LLC portfolio
Managed by . 1,844 reported positions worth $60.7B as of 2026-03-31, filed with the SEC on 2026-05-15. Parsed from the filing itself, not a reseller.
$60.7B
Book value
1,844
Positions
23%
Top 10 weight
+288
New this quarter
-275
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 45 days old on 2026-05-15, 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 (288)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| AZN | ASTRAZENECA PLC | $432.8M | 2,216,887 | 0.71% |
| RBA | RB GLOBAL INC | $210.1M | 2,191,875 | 0.35% |
| VIST | VISTA ENERGY S.A.B. DE C.V. | $102.6M | 1,359,618 | 0.17% |
| CPB | THE CAMPBELLS COMPANY | $61.3M | 2,750,811 | 0.10% |
| ACM | AECOM | $54.7M | 644,734 | 0.09% |
| COR | CENCORA INC | $47.3M | 150,465 | 0.08% |
| PAYX | PAYCHEX INC | $42.9M | 465,374 | 0.07% |
| PNFP | PINNACLE FINL PARTNERS INC | $27.2M | 316,022 | 0.04% |
| APA | APA CORPORATION | $20.6M | 485,271 | 0.03% |
| EDU | NEW ORIENTAL ED & TECHNOLOGY | $18.5M | 327,183 | 0.03% |
| WAB | WABTEC | $14.2M | 56,622 | 0.02% |
| ARE | ALEXANDRIA REAL ESTATE EQ IN | $13.5M | 291,687 | 0.02% |
| EQT | EQT CORP | $7.1M | 112,151 | 0.01% |
| SQM | SOCIEDAD QUIMICA Y MINERA DE | $6.3M | 77,306 | 0.01% |
| PLNT | PLANET FITNESS MASTER ISSUER | $5.8M | 78,468 | 0.01% |
| BIO | BIO RAD LABS INC | $5.1M | 18,290 | 0.01% |
| PLAB | PHOTRONICS INC | $4.7M | 117,365 | 0.01% |
| PFG | PRINCIPAL FINANCIAL GROUP IN | $4.7M | 51,957 | 0.01% |
| EQPT | EQUIPMENTSHARE COM INC | $4.3M | 212,551 | 0.01% |
| BOBS | BOBS DISC FURNITURE INC | $4.3M | 363,600 | 0.01% |
| MUSA | MURPHY USA INC | $4.1M | 8,246 | 0.01% |
| OFRM | ONCE UPON A FARM PBC | $4.0M | 241,647 | 0.01% |
| DGII | DIGI INTL INC | $3.9M | 80,896 | 0.01% |
| MGRC | MCGRATH RENTCORP | $3.9M | 35,155 | 0.01% |
| PLUS | EPLUS INC | $3.6M | 47,854 | 0.01% |
Closed out (275)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| AZNN | ASTRAZENECA PLC | $122.9M | 1,337,216 | 0.00% |
| BAX | BAXTER INTL INC | $118.3M | 6,188,011 | 0.00% |
| ESLT | ELBIT SYS LTD | $74.6M | 129,441 | 0.00% |
| KR | KROGER CO | $24.0M | 383,535 | 0.00% |
| MAKEMYTRIP LIMITED MAURI | MAKEMYTRIP LIMITED MAURITIUS | $18.8M | 228,977 | 0.00% |
| CBSH | COMMERCE BANCSHARES INC | $17.9M | 341,490 | 0.00% |
| LEG | LEGGETT & PLATT INC | $11.3M | 1,026,959 | 0.00% |
| DKS | DICKS SPORTING GOODS INC | $10.8M | 54,724 | 0.00% |
| BF/B | BROWN FORMAN CORP | $9.2M | 352,133 | 0.00% |
| ASCENDIS PHARMA A/S | ASCENDIS PHARMA A/S | $8.3M | 39,135 | 0.00% |
| WIT | WIPRO LTD | $7.5M | 2,644,109 | 0.00% |
| WLK | WESTLAKE CORPORATION | $5.5M | 74,428 | 0.00% |
| GHC | GRAHAM HLDGS CO | $5.0M | 4,549 | 0.00% |
| NHC | NATIONAL HEALTHCARE CORP | $5.0M | 36,225 | 0.00% |
| 1RG | REV GROUP INC | $4.9M | 79,812 | 0.00% |
| EXK | EXACT SCIENCES CORP | $4.7M | 46,626 | 0.00% |
| CSW | CSW INDUSTRIALS INC | $4.6M | 15,636 | 0.00% |
| QGEN | QIAGEN NV | $4.2M | 93,716 | 0.00% |
| LNN | LINDSAY CORP | $4.1M | 34,827 | 0.00% |
| ODD | ODDITY TECH LTD | $4.0M | 99,954 | 0.00% |
| MTSI | MACOM TECH SOLUTIONS HLDGS I | $3.8M | 22,440 | 0.00% |
| SRAD | SPORTRADAR GROUP AG | $3.7M | 155,995 | 0.00% |
| PLPC | PREFORMED LINE PRODS CO | $3.7M | 17,668 | 0.00% |
| RBLX | ROBLOX CORP | $3.5M | 43,074 | 0.00% |
| CYBR | CYBERARK SOFTWARE LTD | $3.3M | 7,483 | 0.00% |
Added to (801)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| AAPL | APPLE INC COM | $2.1B | 8,235,113 | 3.44% | +12% |
| MSFT | MICROSOFT | $2.0B | 5,298,695 | 3.23% | +8% |
| NVDA | NVIDIA CORPORATION | $1.8B | 10,321,287 | 2.96% | +23% |
| AMZN | AMAZON COM INC | $1.6B | 7,712,017 | 2.64% | +7% |
| AMT | AMERICAN TOWER | $1.3B | 7,325,943 | 2.08% | +20% |
| EXC | EXELON CORP | $1.2B | 24,620,304 | 1.99% | +6% |
| CCI | CROWN CASTLE INC | $1.1B | 13,463,182 | 1.80% | +16% |
| GOOG | ALPHABET INC | $987.1M | 3,441,182 | 1.63% | +20% |
| CNI | CANADIAN NATL RY CO | $934.5M | 9,077,518 | 1.54% | +2% |
| AVGO | BROADCOM INC | $842.4M | 2,721,809 | 1.39% | +12% |
| ED | CONSOLIDATED EDISON INC | $800.8M | 7,075,838 | 1.32% | +15% |
| V | VISA INC | $729.8M | 2,414,787 | 1.20% | +2% |
| LLY | ELI LILLY & CO | $660.5M | 718,105 | 1.09% | +7% |
| ADI | ANALOG DEVICES INC | $543.7M | 1,708,858 | 0.90% | +6% |
| BAC | BANK AMERICA CORP | $540.7M | 11,090,814 | 0.89% | +6% |
Trimmed (588)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| MDLZ | MONDELEZ INTL INC | $746,324 | 12,948 | 0.00% | -99% |
| SNAP | SNAP INC | $2,995 | 651 | 0.00% | -99% |
| MICC | MAGNUM ICE CREAM CO NV | $176,122 | 11,858 | 0.00% | -98% |
| CIFR | CIPHER DIGITAL INC | $3,333 | 259 | 0.00% | -98% |
| FSLY | FASTLY INC | $34,930 | 1,202 | 0.00% | -98% |
| ALB 7.25 03/01/27 | ALBEMARLE CORP | $38 | 2,636 | 0.00% | -97% |
| YEXT | YEXT INC | $52,408 | 13,648 | 0.00% | -97% |
| COIN | COINBASE GLOBAL INC | $83,638 | 479 | 0.00% | -97% |
| BE | BLOOM ENERGY CORP | $218,274 | 1,611 | 0.00% | -96% |
| COUR | COURSERA INC | $67,163 | 11,540 | 0.00% | -96% |
| VT | VANGUARD INTL EQUITY INDEX F | $138,741 | 1,349 | 0.00% | -95% |
| SEB | SEABOARD CORP DEL | $277,047 | 49 | 0.00% | -95% |
| DHT | DHT HOLDINGS INC | $428,304 | 23,443 | 0.00% | -95% |
| TME | TENCENT MUSIC ENTMT GROUP | $559,241 | 60,263 | 0.00% | -94% |
| ICLR | ICON PLC | $2.6M | 23,072 | 0.00% | -94% |
The book
Largest 150 of 1,844 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| AAPL | APPLE INC COM | $2.1B | 8,235,113 | 3.44% | — |
| MSFT | MICROSOFT | $2.0B | 5,298,695 | 3.23% | — |
| NVDA | NVIDIA CORPORATION | $1.8B | 10,321,287 | 2.96% | — |
| AMZN | AMAZON COM INC | $1.6B | 7,712,017 | 2.64% | — |
| AMT | AMERICAN TOWER | $1.3B | 7,325,943 | 2.08% | — |
| EXC | EXELON CORP | $1.2B | 24,620,304 | 1.99% | — |
| CCI | CROWN CASTLE INC | $1.1B | 13,463,182 | 1.80% | — |
| GOOGL | ALPHABET INC | $1.0B | 3,509,020 | 1.66% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $996.7M | 2,949,128 | 1.64% | — |
| GOOG | ALPHABET INC | $987.1M | 3,441,182 | 1.63% | — |
| CNI | CANADIAN NATL RY CO | $934.5M | 9,077,518 | 1.54% | — |
| AVGO | BROADCOM INC | $842.4M | 2,721,809 | 1.39% | — |
| FERROVIAL SE | FERROVIAL SE | $830.4M | 12,965,547 | 1.37% | — |
| ED | CONSOLIDATED EDISON INC | $800.8M | 7,075,838 | 1.32% | — |
| CSX | CSX CORP | $752.6M | 18,333,511 | 1.24% | — |
| V | VISA INC | $729.8M | 2,414,787 | 1.20% | — |
| LLY | ELI LILLY & CO | $660.5M | 718,105 | 1.09% | — |
| TMO | THERMO FISHER SCIENTIFIC INC | $600.7M | 1,222,057 | 0.99% | — |
| ADI | ANALOG DEVICES INC | $543.7M | 1,708,858 | 0.90% | — |
| BAC | BANK AMERICA CORP | $540.7M | 11,090,814 | 0.89% | — |
| AMX | AMERICA MOVIL SAB DE CV | $530.2M | 20,807,915 | 0.87% | — |
| PBR | PETROLEO BRASILEIRO S A | $524.0M | 25,251,430 | 0.86% | — |
| PG | PROCTER & GAMBLE CO | $516.6M | 3,576,736 | 0.85% | — |
| ICE | INTERCONTINENTAL EXCHANGE IN | $514.5M | 3,271,540 | 0.85% | — |
| TLK | TELEKOMUNIKASI IND | $469.4M | 25,129,891 | 0.77% | — |
| ASML | ASML HLDG NV | $448.6M | 339,642 | 0.74% | — |
| AZN | ASTRAZENECA PLC | $432.8M | 2,216,887 | 0.71% | — |
| KLAC | KLA CORP | $430.7M | 292,532 | 0.71% | — |
| SLB | SLB LIMITED | $403.9M | 7,859,902 | 0.67% | — |
| APH | AMPHENOL CORP | $401.7M | 3,178,900 | 0.66% | — |
| AON | AON PLC | $392.9M | 1,217,243 | 0.65% | — |
| MRK | MERCK & CO INC | $391.5M | 3,254,331 | 0.64% | — |
| DHR | DANAHER CORP DEL | $384.7M | 2,028,965 | 0.63% | — |
| VALE | VALE S A | $376.8M | 23,685,915 | 0.62% | — |
| META | META PLATFORMS INC | $364.4M | 636,999 | 0.60% | — |
| INFY | INFOSYS LTD | $361.8M | 26,776,494 | 0.60% | — |
| EXMOC | EXXON MOBIL CORP | $355.5M | 2,095,426 | 0.59% | — |
| AME | AMETEK INC | $346.9M | 1,618,526 | 0.57% | — |
| PANW | PALO ALTO NETWORKS INC | $332.4M | 2,073,481 | 0.55% | — |
| QCOM | QUALCOMM INC | $327.4M | 2,542,547 | 0.54% | — |
| LIN | LINDE PLC | $324.8M | 654,947 | 0.53% | — |
| WM | WASTE MGMT INC DEL | $318.6M | 1,386,375 | 0.52% | — |
| JNJ | JOHNSON & JOHNSON | $318.5M | 1,302,952 | 0.52% | — |
| IQV | IQVIA HLDGS INC | $317.0M | 1,858,834 | 0.52% | — |
| CB | CHUBB LTD SWITZ | $316.7M | 971,744 | 0.52% | — |
| KO | COCA COLA CO | $312.8M | 4,112,600 | 0.51% | — |
| BSX | BOSTON SCIENTIFIC CORP | $306.3M | 4,880,504 | 0.50% | — |
| ISRG | INTUITIVE SURGICAL INC | $299.0M | 648,649 | 0.49% | — |
| ADSK | AUTODESK INC | $299.0M | 1,248,808 | 0.49% | — |
| ASX | ASE TECHNOLOGY HLDG CO LTD | $293.3M | 13,530,133 | 0.48% | — |
| PAC | GRUPO AEROPORTUNARIO DEL PAC | $289.5M | 1,172,634 | 0.48% | — |
| MDT | MEDTRONIC PLC | $286.7M | 3,309,161 | 0.47% | — |
| ACN | ACCENTURE PLC IRELAND | $286.3M | 1,443,886 | 0.47% | — |
| MRSH | MARSH & MCLENNAN COS INC | $281.6M | 1,623,755 | 0.46% | — |
| HDB | HDFC BANK LTD | $272.1M | 10,937,089 | 0.45% | — |
| ROK | ROCKWELL AUTOMATION INC | $271.5M | 756,499 | 0.45% | — |
| TT | TRANE TECHNOLOGIES PLC | $270.1M | 648,093 | 0.44% | — |
| SCHW | SCHWAB CHARLES CORP | $269.1M | 2,863,815 | 0.44% | — |
| SPGI | S&P GLOBAL INC | $268.2M | 630,575 | 0.44% | — |
| MU | MICRON TECHNOLOGY INC | $260.2M | 770,167 | 0.43% | — |
| TX | TERNIUM SA | $254.4M | 6,336,127 | 0.42% | — |
| CDNS | CADENCE DESIGN SYSTEM INC | $249.1M | 896,325 | 0.41% | — |
| TTE | TOTALENERGIES SE | $248.7M | 2,659,978 | 0.41% | — |
| TER | TERADYNE INC | $246.3M | 830,964 | 0.41% | — |
| CRH | CRH PLC | $245.5M | 2,336,754 | 0.40% | — |
| TJX | TJX COS INC NEW | $239.5M | 1,499,665 | 0.39% | — |
| MCD | MCDONALDS CORP | $233.9M | 752,498 | 0.39% | — |
| EFX | EQUIFAX INC | $222.7M | 1,236,747 | 0.37% | — |
| CRM | SALESFORCE INC | $218.8M | 1,172,071 | 0.36% | — |
| PEP | PEPSICO INC | $218.6M | 1,407,731 | 0.36% | — |
| MRVL | MARVELL TECHNOLOGY INC | $214.1M | 2,161,634 | 0.35% | — |
| RBA | RB GLOBAL INC | $210.1M | 2,191,875 | 0.35% | — |
| BAP | CREDICORP LTD | $201.2M | 593,276 | 0.33% | — |
| ETN | EATON CORP PLC | $198.9M | 555,969 | 0.33% | — |
| LMT | LOCKHEED MARTIN CORP | $194.7M | 322,075 | 0.32% | — |
| AMD | ADVANCED MICRO DEVICES INC | $193.8M | 952,596 | 0.32% | — |
| SU | SUNCOR ENERGY INC NEW | $191.5M | 2,895,460 | 0.32% | — |
| COP | CONOCOPHILLIPS | $191.3M | 1,449,245 | 0.31% | — |
| ARCO | ARCOS DORADOS HLDGS INC | $191.2M | 23,174,841 | 0.31% | — |
| IVV | ISHARES TR | $190.2M | 291,105 | 0.31% | — |
| TSLA | TESLA INC | $190.0M | 511,170 | 0.31% | — |
| PTC | PTC INC | $186.1M | 1,305,846 | 0.31% | — |
| AMAT | APPLIED MATLS INC | $186.0M | 544,306 | 0.31% | — |
| MA | MASTERCARD | $183.4M | 367,121 | 0.30% | — |
| ALL | ALLSTATE CORP | $182.4M | 879,507 | 0.30% | — |
| HD | HOME DEPOT | $181.1M | 550,550 | 0.30% | — |
| COST | COSTCO WHOLESALE CORPORATION | $180.2M | 180,870 | 0.30% | — |
| BX | BLACKSTONE INC | $173.5M | 1,509,211 | 0.29% | — |
| CL | COLGATE PALMOLIVE CO | $172.0M | 2,018,463 | 0.28% | — |
| AEM | AGNICO EAGLE MINES LTD | $167.5M | 825,276 | 0.28% | — |
| ODFL | OLD DOMINION FREIGHT LINE IN | $163.2M | 835,025 | 0.27% | — |
| UL | UNILEVER PLC | $159.2M | 2,794,600 | 0.26% | — |
| ADBE | ADOBE INC | $158.6M | 652,589 | 0.26% | — |
| IPGP | IPG PHOTONICS CORP | $157.5M | 1,374,460 | 0.26% | — |
| B | BARRICK MNG CORP | $156.8M | 3,837,842 | 0.26% | — |
| LRCX | LAM RESEARCH CORP | $155.9M | 729,835 | 0.26% | — |
| SNPS | SYNOPSYS INC | $154.6M | 390,010 | 0.25% | — |
| J | JACOBS SOLUTIONS INC | $153.1M | 1,202,807 | 0.25% | — |
| CBRE | CBRE GROUP INC | $152.5M | 1,125,703 | 0.25% | — |
| USB | US BANCORP | $152.1M | 2,925,255 | 0.25% | — |
| IR | INGERSOLL RAND INC | $150.8M | 1,882,143 | 0.25% | — |
| TRMB | TRIMBLE INC | $149.6M | 2,294,066 | 0.25% | — |
| GE | GE AEROSPACE | $148.6M | 523,540 | 0.24% | — |
| AEE | AMEREN CORP | $146.4M | 1,331,922 | 0.24% | — |
| HCA | HCA HEALTHCARE INC | $145.4M | 307,343 | 0.24% | — |
| KB | KB FINL GROUP INC | $145.4M | 1,457,537 | 0.24% | — |
| AMP | AMERIPRISE FINL INC | $144.5M | 325,116 | 0.24% | — |
| UNH | UNITEDHEALTH GROUP INC | $143.0M | 528,530 | 0.24% | — |
| FISV | FISERV INC | $142.6M | 2,555,482 | 0.23% | — |
| ZBRA | ZEBRA TECHNOLOGIES CORPORATI | $130.5M | 623,965 | 0.21% | — |
| URI | UNITED RENTALS INC | $126.2M | 173,254 | 0.21% | — |
| MCO | MOODYS CORP | $124.9M | 286,213 | 0.21% | — |
| JPM | JPMORGAN CHASE | $122.7M | 417,116 | 0.20% | — |
| HRB | BLOCK H & R INC | $119.4M | 3,761,094 | 0.20% | — |
| COHR | COHERENT CORP | $119.0M | 499,664 | 0.20% | — |
| BMY | BRISTOL-MYERS SQUIBB CO | $116.7M | 1,924,036 | 0.19% | — |
| CHKP | CHECK POINT SOFTWARE TECH LT | $115.6M | 809,115 | 0.19% | — |
| BRSL | BRIGHTSTAR LOTTERY PLC | $115.4M | 9,060,606 | 0.19% | — |
| BABA | ALIBABA GROUP HLDG LTD | $114.8M | 915,289 | 0.19% | — |
| BA | BOEING CO | $112.9M | 567,240 | 0.19% | — |
| OMC | OMNICOM GROUP INC | $111.6M | 1,481,974 | 0.18% | — |
| CCEP | COCA-COLA EUROPACIFIC PARTNE | $110.2M | 1,209,597 | 0.18% | — |
| NKE | NIKE INC | $109.5M | 2,073,621 | 0.18% | — |
| NFLX | NETFLIX | $109.4M | 1,137,492 | 0.18% | — |
| ZTS | ZOETIS INC | $107.9M | 912,970 | 0.18% | — |
| LH | LABCORP HOLDINGS INC | $104.9M | 393,132 | 0.17% | — |
| INTU | INTUIT | $104.5M | 241,587 | 0.17% | — |
| GS | GOLDMAN SACHS GROUP INC | $102.8M | 121,523 | 0.17% | — |
| VIST | VISTA ENERGY S.A.B. DE C.V. | $102.6M | 1,359,618 | 0.17% | — |
| SHG | SHINHAN FINANCIAL GROUP CO L | $102.1M | 1,664,989 | 0.17% | — |
| PM | PHILIP MORRIS INTL INC | $101.0M | 610,714 | 0.17% | — |
| RELX | RELX PLC | $100.8M | 3,040,217 | 0.17% | — |
| EMR | EMERSON ELEC CO | $100.7M | 768,633 | 0.17% | — |
| TEL | TE CONNECTIVITY PLC | $100.4M | 480,509 | 0.17% | — |
| ARGX | ARGENX SE | $97.4M | 133,347 | 0.16% | — |
| WMT | WALMART INC | $95.3M | 766,542 | 0.16% | — |
| DIS | DISNEY WALT CO | $95.2M | 987,573 | 0.16% | — |
| VRTX | VERTEX PHARMACEUTICALS INC | $95.2M | 213,131 | 0.16% | — |
| DE | DEERE & CO | $95.0M | 168,587 | 0.16% | — |
| SAN | BANCO SANTANDER SA | $94.6M | 8,388,093 | 0.16% | — |
| UBER | UBER TECHNOLOGIES INC | $94.4M | 1,312,658 | 0.16% | — |
| QLTY | GMO US Qlty ETF | $94.0M | 2,597,522 | 0.15% | — |
| MANH | MANHATTAN ASSOCIATES INC | $93.2M | 699,768 | 0.15% | — |
| AEP | AMERICAN ELEC PWR CO INC | $92.7M | 707,010 | 0.15% | — |
| GAM | GENERAL AMERN INVS CO INC | $92.4M | 1,580,674 | 0.15% | — |
| FIX | COMFORT SYS USA INC | $92.0M | 66,710 | 0.15% | — |
| GD | GENERAL DYNAMICS CORP | $90.3M | 263,168 | 0.15% | — |
| HIG | HARTFORD INSURANCE GROUP INC | $89.3M | 660,624 | 0.15% | — |
| RTX | RTX CORPORATION | $88.7M | 460,015 | 0.15% | — |
| CAH | CARDINAL HEALTH INC | $88.3M | 417,671 | 0.15% | — |
This table is the 150 largest positions by value, out of 1,844 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 12 options positions with a combined notional of $47.6M. 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 LAZARD ASSET MANAGEMENT LLC (CIK 1207017, accession 0001207017-26-000036). 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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