13F holdings
Migdal Insurance & Financial Holdings Ltd. portfolio
Managed by . 360 reported positions worth $11.5B as of 2026-03-31, filed with the SEC on 2026-05-14. Parsed from the filing itself, not a reseller.
$11.5B
Book value
360
Positions
45%
Top 10 weight
+89
New this quarter
-75
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 (89)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| GDX | VANECK ETF TRUST | $124.8M | 1,360,000 | 1.08% |
| XME | SPDR SERIES TRUST | $89.7M | 830,230 | 0.78% |
| VRT | VERTIV HOLDINGS CO | $63.9M | 255,172 | 0.55% |
| XBI | SPDR SERIES TRUST | $57.5M | 450,000 | 0.50% |
| AZN | ASTRAZENECA PLC | $55.9M | 286,000 | 0.48% |
| SNDK | SANDISK CORP | $51.5M | 81,000 | 0.45% |
| MRK | MERCK & CO INC | $37.6M | 310,002 | 0.33% |
| WDC | WESTERN DIGITAL CORP | $36.2M | 134,000 | 0.31% |
| NTR | NUTRIEN LTD | $35.2M | 462,500 | 0.30% |
| STX | SEAGATE TECHNOLOGY HLDNGS PL | $31.8M | 81,000 | 0.28% |
| BSX | BOSTON SCIENTIFIC CORP | $31.4M | 500,000 | 0.27% |
| TT | TRANE TECHNOLOGIES PLC | $20.8M | 50,000 | 0.18% |
| MELI | MERCADOLIBRE INC | $20.7M | 12,000 | 0.18% |
| LITE | LUMENTUM HLDGS INC | $14.1M | 20,000 | 0.12% |
| EMXC | ISHARES INC | $4.9M | 62,845 | 0.04% |
| IYT | ISHARES TR | $2.9M | 38,625 | 0.02% |
| XRT | SPDR SERIES TRUST | $2.7M | 33,500 | 0.02% |
| PAVE | GLOBAL X FDS | $970,606 | 19,102 | 0.01% |
| ILF | ISHARES TR | $944,832 | 26,600 | 0.01% |
| FLKR | FRANKLIN TEMPLETON ETF TR | $917,010 | 23,000 | 0.01% |
| KR | KROGER CO | $806,018 | 11,139 | 0.01% |
| SN | SHARKNINJA INC | $602,315 | 6,170 | 0.01% |
| IEFA | ISHARES TR | $496,104 | 5,480 | 0.00% |
| PBR | PETROLEO BRASILEIRO S A | $300,875 | 14,500 | 0.00% |
| FEMS | FIRST TR EXCH TRD ALPHDX FD | $296,088 | 6,500 | 0.00% |
Closed out (75)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| ITB | ISHARES U.S. HOME CONSTRUCTI | $51.0M | 530,000 | 0.00% |
| EXE | EXPAND ENERGY CORP | $50.8M | 460,000 | 0.00% |
| EQT | EQT CORP | $49.6M | 925,000 | 0.00% |
| HD | HOME DEPOT INC | $48.2M | 140,000 | 0.00% |
| FLIN | FRANKLIN FTSE INDIA ETF | $44.2M | 1,145,000 | 0.00% |
| EQIX | EQUINIX INC | $33.3M | 43,500 | 0.00% |
| CLBT | CELLEBRITE DI LTD | $24.3M | 1,350,000 | 0.00% |
| SMWB | SIMILARWEB LTD | $23.3M | 3,106,157 | 0.00% |
| MBLY | MOBILEYE GLOBAL INC-A | $20.9M | 1,999,090 | 0.00% |
| MNDY | MONDAY.COM LTD | $20.5M | 139,009 | 0.00% |
| SSYS | STRATASYS LTD | $18.5M | 2,130,983 | 0.00% |
| AZNN | ASTRAZENECA PLC-SPONS ADR | $17.8M | 194,000 | 0.00% |
| FROG | JFROG LTD | $17.1M | 274,047 | 0.00% |
| TBLA | TABOOLA.COM LTD | $15.2M | 3,299,179 | 0.00% |
| CORP | PIMCO INV GRADE CORP BD ETF | $13.8M | 140,919 | 0.00% |
| WIX | WIX.COM LTD | $11.5M | 110,534 | 0.00% |
| ODD | ODDITY TECH LTD-CL A | $11.3M | 280,764 | 0.00% |
| SNPE | DBX ETF TR XTRACKRS S&P 500 | $7.5M | 120,788 | 0.00% |
| SPTI | SS SPDR P INT TERM TSY ETF | $5.7M | 199,019 | 0.00% |
| ARBE | ARBE ROBOTICS LTD | $1.4M | 1,200,000 | 0.00% |
| EWC | ISHARES INC MSCI CDA ETF | $599,000 | 11,100 | 0.00% |
| KRE | SPDR SERIES TRUST STATE STREET SPD | $484,000 | 7,400 | 0.00% |
| EWP | ISHARES INC MSCI SPAIN ETF | $381,000 | 7,060 | 0.00% |
| EPOL | ISHARES TR MSCI POLAND ETF | $331,000 | 9,400 | 0.00% |
| ICSH | ISHARES TR ULTRA SHORT DUR | $298,000 | 5,900 | 0.00% |
Added to (86)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| TEVA | TEVA PHARMACEUTICAL INDS LTD | $1.1B | 37,902,212 | 9.90% | +1% |
| NVMI | NOVA LTD | $681.2M | 1,568,657 | 5.91% | +5% |
| XLI | SELECT SECTOR SPDR TR | $648.7M | 4,011,198 | 5.63% | +23% |
| GOOG | ALPHABET INC | $440.3M | 1,535,050 | 3.82% | +16% |
| RSP | INVESCO EXCHANGE TRADED FD T | $364.6M | 1,900,000 | 3.16% | +9518% |
| XLY | SELECT SECTOR SPDR TR | $322.6M | 2,960,332 | 2.80% | +4% |
| CAMT | CAMTEK LTD | $292.4M | 1,928,396 | 2.54% | +46% |
| SMH | VANECK ETF TRUST | $291.5M | 760,447 | 2.53% | +88% |
| AAPL | APPLE INC | $235.4M | 927,700 | 2.04% | +37% |
| EWY | ISHARES INC | $171.9M | 1,397,500 | 1.49% | +46796% |
| JPM | JPMORGAN CHASE & CO | $167.2M | 568,434 | 1.45% | +126% |
| LRCX | LAM RESEARCH CORP | $165.7M | 774,687 | 1.44% | +268% |
| ORA | ORMAT TECHNOLOGIES INC | $130.0M | 1,161,526 | 1.13% | +31% |
| CQQQ | INVESCO EXCH TRADED FD TR II | $116.8M | 2,539,000 | 1.01% | +39% |
| MU | MICRON TECHNOLOGY INC | $114.3M | 338,307 | 0.99% | +10361% |
Trimmed (103)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| CEG | CONSTELLATION ENERGY CORP | $24,016 | 86 | 0.00% | -100% |
| XLRE | SELECT SECTOR SPDR TR | $72,269 | 1,770 | 0.00% | -100% |
| ORCL | ORACLE CORP | $69,142 | 470 | 0.00% | -100% |
| QQQM | INVESCO EXCH TRADED FD TR II | $7.8M | 32,731 | 0.07% | -99% |
| ADBE | ADOBE INC | $161,891 | 666 | 0.00% | -99% |
| EPI | WISDOMTREE TR | $1.5M | 36,249 | 0.01% | -98% |
| VRNS | VARONIS SYS INC | $579,690 | 27,000 | 0.01% | -96% |
| XLG | INVESCO EXCHANGE TRADED FD T | $296,916 | 5,443 | 0.00% | -95% |
| EWU | ISHARES TR | $22,233 | 488 | 0.00% | -84% |
| IGV | ISHARES TR | $35.5M | 443,036 | 0.31% | -84% |
| EWG | ISHARES INC | $12,298 | 310 | 0.00% | -83% |
| WMT | WALMART INC | $194,729 | 1,575 | 0.00% | -81% |
| INVZ | INNOVIZ TECHNOLOGIES LTD | $880,908 | 1,392,740 | 0.01% | -81% |
| FPE | FIRST TR EXCH TRADED FD III | $4,686 | 264 | 0.00% | -79% |
| JNK | SPDR SERIES TRUST | $3.0M | 31,450 | 0.03% | -79% |
The book
Largest 150 of 360 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| TEVA | TEVA PHARMACEUTICAL INDS LTD | $1.1B | 37,902,212 | 9.90% | — |
| NVMI | NOVA LTD | $681.2M | 1,568,657 | 5.91% | — |
| XLI | SELECT SECTOR SPDR TR | $648.7M | 4,011,198 | 5.63% | — |
| XLK | SELECT SECTOR SPDR TR | $571.0M | 4,296,822 | 4.95% | — |
| GOOG | ALPHABET INC | $440.3M | 1,535,050 | 3.82% | — |
| RSP | INVESCO EXCHANGE TRADED FD T | $364.6M | 1,900,000 | 3.16% | — |
| TSEM | TOWER SEMICONDUCTOR LTD | $353.7M | 2,015,506 | 3.07% | — |
| NVDA | NVIDIA CORPORATION | $336.8M | 1,931,281 | 2.92% | — |
| XLY | SELECT SECTOR SPDR TR | $322.6M | 2,960,332 | 2.80% | — |
| XLC | SELECT SECTOR SPDR TR | $305.4M | 2,755,184 | 2.65% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $304.4M | 898,092 | 2.64% | — |
| AMZN | AMAZON COM INC | $297.4M | 1,428,130 | 2.58% | — |
| CAMT | CAMTEK LTD | $292.4M | 1,928,396 | 2.54% | — |
| SMH | VANECK ETF TRUST | $291.5M | 760,447 | 2.53% | — |
| AAPL | APPLE INC | $235.4M | 927,700 | 2.04% | — |
| LQD | ISHARES TR | $214.2M | 1,965,000 | 1.86% | — |
| META | META PLATFORMS INC | $188.6M | 329,583 | 1.64% | — |
| EWY | ISHARES INC | $171.9M | 1,397,500 | 1.49% | — |
| KBWB | INVESCO EXCH TRADED FD TR II | $171.2M | 2,163,750 | 1.49% | — |
| JPM | JPMORGAN CHASE & CO | $167.2M | 568,434 | 1.45% | — |
| LRCX | LAM RESEARCH CORP | $165.7M | 774,687 | 1.44% | — |
| XLU | SELECT SECTOR SPDR TR | $158.4M | 3,451,740 | 1.37% | — |
| MSFT | MICROSOFT CORP | $140.5M | 379,779 | 1.22% | — |
| AMAT | APPLIED MATLS INC | $138.4M | 405,000 | 1.20% | — |
| ORA | ORMAT TECHNOLOGIES INC | $130.0M | 1,161,526 | 1.13% | — |
| GDX | VANECK ETF TRUST | $124.8M | 1,360,000 | 1.08% | — |
| CQQQ | INVESCO EXCH TRADED FD TR II | $116.8M | 2,539,000 | 1.01% | — |
| MU | MICRON TECHNOLOGY INC | $114.3M | 338,307 | 0.99% | — |
| LLY | ELI LILLY & CO | $114.3M | 124,269 | 0.99% | — |
| ENLT | ENLIGHT RENEWABLE ENERGY LTD | $111.3M | 1,630,721 | 0.97% | — |
| TSLA | TESLA INC | $108.6M | 292,205 | 0.94% | — |
| NICE | NICE LTD | $101.6M | 921,270 | 0.88% | — |
| XLV | SELECT SECTOR SPDR TR | $99.7M | 680,149 | 0.87% | — |
| XLF | SELECT SECTOR SPDR TR | $93.5M | 1,893,809 | 0.81% | — |
| XME | SPDR SERIES TRUST | $89.7M | 830,230 | 0.78% | — |
| ABBV | ABBVIE INC | $89.6M | 412,152 | 0.78% | — |
| AVGO | BROADCOM INC | $88.4M | 285,561 | 0.77% | — |
| XLB | SELECT SECTOR SPDR TR | $85.0M | 1,700,551 | 0.74% | — |
| XLE | SELECT SECTOR SPDR TR | $78.6M | 1,282,511 | 0.68% | — |
| LMT | LOCKHEED MARTIN CORP | $75.1M | 124,220 | 0.65% | — |
| ETN | EATON CORP PLC | $74.0M | 207,000 | 0.64% | — |
| CCJ | CAMECO CORP | $71.6M | 659,385 | 0.62% | — |
| KWEB | KRANESHARES TRUST | $70.0M | 2,462,469 | 0.61% | — |
| NOC | NORTHROP GRUMMAN CORP | $68.2M | 100,000 | 0.59% | — |
| VRT | VERTIV HOLDINGS CO | $63.9M | 255,172 | 0.55% | — |
| GILD | GILEAD SCIENCES INC | $61.9M | 444,000 | 0.54% | — |
| XBI | SPDR SERIES TRUST | $57.5M | 450,000 | 0.50% | — |
| AZN | ASTRAZENECA PLC | $55.9M | 286,000 | 0.48% | — |
| PANW | PALO ALTO NETWORKS INC | $51.9M | 323,730 | 0.45% | — |
| SNDK | SANDISK CORP | $51.5M | 81,000 | 0.45% | — |
| SEDG | SOLAREDGE TECHNOLOGIES INC | $48.3M | 946,186 | 0.42% | — |
| MRK | MERCK & CO INC | $37.6M | 310,002 | 0.33% | — |
| BABA | ALIBABA GROUP HLDG LTD | $36.5M | 290,898 | 0.32% | — |
| WDC | WESTERN DIGITAL CORP | $36.2M | 134,000 | 0.31% | — |
| BAC | BANK AMERICA CORP | $35.6M | 730,000 | 0.31% | — |
| IGV | ISHARES TR | $35.5M | 443,036 | 0.31% | — |
| NTR | NUTRIEN LTD | $35.2M | 462,500 | 0.30% | — |
| UBER | UBER TECHNOLOGIES INC | $34.5M | 480,000 | 0.30% | — |
| TER | TERADYNE INC | $32.7M | 110,322 | 0.28% | — |
| STX | SEAGATE TECHNOLOGY HLDNGS PL | $31.8M | 81,000 | 0.28% | — |
| INTC | INTEL CORP | $31.8M | 719,879 | 0.28% | — |
| BSX | BOSTON SCIENTIFIC CORP | $31.4M | 500,000 | 0.27% | — |
| TXN | TEXAS INSTRS INC | $30.9M | 159,127 | 0.27% | — |
| MS | MORGAN STANLEY | $29.8M | 181,208 | 0.26% | — |
| MCHP | MICROCHIP TECHNOLOGY INC. | $29.5M | 457,301 | 0.26% | — |
| V | VISA INC | $29.5M | 97,527 | 0.26% | — |
| SPIB | SPDR SERIES TRUST | $28.8M | 859,071 | 0.25% | — |
| CHKP | CHECK POINT SOFTWARE TECH LT | $28.6M | 200,000 | 0.25% | — |
| SPY | STATE STR SPDR S&P 500 ETF T | $28.2M | 43,414 | 0.24% | — |
| GLBE | GLOBAL E ONLINE LTD | $27.6M | 895,000 | 0.24% | — |
| MA | MASTERCARD INCORPORATED | $27.5M | 55,122 | 0.24% | — |
| ESLT | ELBIT SYS LTD | $27.3M | 32,100 | 0.24% | — |
| TT | TRANE TECHNOLOGIES PLC | $20.8M | 50,000 | 0.18% | — |
| MELI | MERCADOLIBRE INC | $20.7M | 12,000 | 0.18% | — |
| TATT | TAT TECHNOLOGIES LTD | $19.1M | 470,025 | 0.17% | — |
| QQQ | INVESCO QQQ TR | $18.0M | 31,221 | 0.16% | — |
| NYAX | NAYAX LTD | $16.8M | 300,000 | 0.15% | — |
| JEF | JEFFERIES FINANCIAL GROUP IN | $16.4M | 398,000 | 0.14% | — |
| GILT | GILAT SATELLITE NETWORKS LTD | $16.4M | 1,091,053 | 0.14% | — |
| IYW | ISHARES TR | $14.6M | 80,351 | 0.13% | — |
| LITE | LUMENTUM HLDGS INC | $14.1M | 20,000 | 0.12% | — |
| URGN | UROGEN PHARMA LTD | $13.9M | 770,909 | 0.12% | — |
| GLW | CORNING INC | $13.6M | 100,000 | 0.12% | — |
| COHR | COHERENT CORP | $13.3M | 56,000 | 0.12% | — |
| CIEN | CIENA CORP | $13.2M | 34,000 | 0.11% | — |
| PERI | PERION NETWORK LTD | $12.9M | 1,287,102 | 0.11% | — |
| QLTA | ISHARES TR | $12.8M | 268,251 | 0.11% | — |
| BSJQ | INVESCO EXCH TRD SLF IDX FD | $12.7M | 547,860 | 0.11% | — |
| VTV | VANGUARD INDEX FDS | $10.3M | 52,646 | 0.09% | — |
| VEU | VANGUARD INTL EQUITY INDEX F | $10.0M | 132,561 | 0.09% | — |
| VOO | VANGUARD INDEX FDS | $9.3M | 15,635 | 0.08% | — |
| TLH | ISHARES TR | $8.7M | 86,496 | 0.08% | — |
| QQQM | INVESCO EXCH TRADED FD TR II | $7.8M | 32,731 | 0.07% | — |
| EEM | ISHARES TR | $5.9M | 104,784 | 0.05% | — |
| TIP | ISHARES TR | $5.9M | 53,462 | 0.05% | — |
| MINT | PIMCO ETF TR | $5.3M | 53,141 | 0.05% | — |
| SPMO | INVESCO EXCH TRADED FD TR II | $5.3M | 47,506 | 0.05% | — |
| GOOGL | ALPHABET INC | $5.2M | 18,535 | 0.04% | — |
| EMXC | ISHARES INC | $4.9M | 62,845 | 0.04% | — |
| ACWI | ISHARES TR | $4.5M | 32,260 | 0.04% | — |
| LMBS | FIRST TR EXCHANGE-TRADED FD | $4.0M | 80,919 | 0.03% | — |
| FEZ | SPDR INDEX SHS FDS | $3.9M | 62,102 | 0.03% | — |
| XAR | SPDR SERIES TRUST | $3.8M | 15,139 | 0.03% | — |
| HYG | ISHARES TR | $3.7M | 46,969 | 0.03% | — |
| GRID | FIRST TR EXCHANGE-TRADED FD | $3.6M | 21,865 | 0.03% | — |
| IEF | ISHARES TR | $3.5M | 36,783 | 0.03% | — |
| VCSH | VANGUARD SCOTTSDALE FDS | $3.5M | 44,238 | 0.03% | — |
| ONEQ | FIDELITY COMWLTH TR | $3.4M | 40,061 | 0.03% | — |
| QMMY | FIRST TR EXCHNG TRADED FD VI | $3.4M | 136,778 | 0.03% | — |
| CSCO | CISCO SYS INC | $3.2M | 41,170 | 0.03% | — |
| JNK | SPDR SERIES TRUST | $3.0M | 31,450 | 0.03% | — |
| IYT | ISHARES TR | $2.9M | 38,625 | 0.02% | — |
| FTNT | FORTINET INC | $2.9M | 34,916 | 0.02% | — |
| SOXX | ISHARES TR | $2.8M | 8,500 | 0.02% | — |
| XRT | SPDR SERIES TRUST | $2.7M | 33,500 | 0.02% | — |
| IGM | ISHARES TR | $2.6M | 21,533 | 0.02% | — |
| NET | CLOUDFLARE INC | $2.3M | 11,100 | 0.02% | — |
| CIBR | FIRST TR EXCHANGE-TRADED FD | $1.9M | 30,909 | 0.02% | — |
| CRWD | CROWDSTRIKE HLDGS INC | $1.9M | 4,780 | 0.02% | — |
| FFIV | F5 INC | $1.6M | 5,700 | 0.01% | — |
| VEA | VANGUARD TAX-MANAGED FDS | $1.6M | 25,633 | 0.01% | — |
| IBHF | ISHARES TR | $1.6M | 70,840 | 0.01% | — |
| EPI | WISDOMTREE TR | $1.5M | 36,249 | 0.01% | — |
| ASML | ASML HLDG NV | $1.3M | 1,027 | 0.01% | — |
| GD | GENERAL DYNAMICS CORP | $1.3M | 3,665 | 0.01% | — |
| OKTA | OKTA INC | $1.2M | 15,600 | 0.01% | — |
| IGIB | ISHARES TR | $1.2M | 22,229 | 0.01% | — |
| C | CITIGROUP INC | $1.1M | 10,250 | 0.01% | — |
| MRVL | MARVELL TECHNOLOGY INC | $1.1M | 11,747 | 0.01% | — |
| LDOS | LEIDOS HOLDINGS INC | $1.1M | 7,000 | 0.01% | — |
| RSSL | GLOBAL X FDS | $1.1M | 11,250 | 0.01% | — |
| SPSB | SPDR SERIES TRUST | $1.0M | 34,851 | 0.01% | — |
| TLT | ISHARES TR | $1.0M | 11,554 | 0.01% | — |
| TDIV | FIRST TR EXCHANGE TRADED FD | $995,887 | 10,633 | 0.01% | — |
| ZS | ZSCALER INC | $982,030 | 7,000 | 0.01% | — |
| PAVE | GLOBAL X FDS | $970,606 | 19,102 | 0.01% | — |
| NEE | NEXTERA ENERGY INC | $969,110 | 10,434 | 0.01% | — |
| COP | CONOCOPHILLIPS | $961,224 | 7,282 | 0.01% | — |
| ILF | ISHARES TR | $944,832 | 26,600 | 0.01% | — |
| RTX | RTX CORPORATION | $937,108 | 4,858 | 0.01% | — |
| BSCR | INVESCO EXCH TRD SLF IDX FD | $924,181 | 47,092 | 0.01% | — |
| FLKR | FRANKLIN TEMPLETON ETF TR | $917,010 | 23,000 | 0.01% | — |
| BUG | GLOBAL X FDS | $899,910 | 36,700 | 0.01% | — |
| TJX | TJX COS INC NEW | $892,723 | 5,590 | 0.01% | — |
| INVZ | INNOVIZ TECHNOLOGIES LTD | $880,908 | 1,392,740 | 0.01% | — |
| INFY | INFOSYS LTD | $880,568 | 65,179 | 0.01% | — |
| CAT | CATERPILLAR INC | $869,989 | 1,228 | 0.01% | — |
| QTEC | FIRST TR EXCHANGE-TRADED FD | $868,672 | 4,022 | 0.01% | — |
| HYS | PIMCO ETF TR | $829,170 | 8,890 | 0.01% | — |
| PLD | PROLOGIS INC. | $818,723 | 6,194 | 0.01% | — |
This table is the 150 largest positions by value, out of 360 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 2 options positions with a combined notional of $5.3M. 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 Migdal Insurance & Financial Holdings Ltd. (CIK 1415912, accession 0001178913-26-002681). 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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