13F holdings
NORTHERN TRUST CORP portfolio
Managed by . 4,396 reported positions worth $756.6B as of 2026-03-31, filed with the SEC on 2026-05-14. Parsed from the filing itself, not a reseller.
$756.6B
Book value
4,396
Positions
28%
Top 10 weight
+131
New this quarter
-184
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 (131)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| AZN | ASTRAZENECA PLC | $459.0M | 2,327,550 | 0.06% |
| AMCR | AMCOR PLC | $149.9M | 3,771,469 | 0.02% |
| PNFP | PINNACLE FINL PARTNERS INC | $122.4M | 1,420,630 | 0.02% |
| PIPR | PIPER SANDLER COMPANIES | $57.8M | 754,781 | 0.01% |
| QGEN | QIAGEN NV | $40.3M | 1,006,157 | 0.01% |
| VSNT | VERSANT MEDIA GROUP INC | $36.1M | 975,369 | 0.00% |
| INDV | INDIVIOR PHARMACEUTICALS INC | $35.4M | 1,161,403 | 0.00% |
| DFTX | DEFINIUM THERAPEUTICS INC | $15.1M | 798,987 | 0.00% |
| RPG | INVESCO EXCHANGE TRADED FD T | $10.1M | 215,494 | 0.00% |
| IREN | IREN LIMITED | $9.8M | 284,726 | 0.00% |
| MUNB | NORTHERN FDS | $9.2M | 91,343 | 0.00% |
| SUNB | SUNBELT RENTALS HOLDINGS INC | $8.3M | 126,829 | 0.00% |
| FPS | FORGENT POWER SOLUTIONS INC | $5.4M | 184,900 | 0.00% |
| XXI | TWENTY ONE CAP INC | $4.8M | 745,845 | 0.00% |
| ASST | STRIVE INC | $4.0M | 396,271 | 0.00% |
| BBUC | BROOKFIELD BUSINESS CORP | $3.9M | 123,586 | 0.00% |
| CDNL | CARDINAL INFRASTRUCTURE GROU | $3.8M | 95,417 | 0.00% |
| ESGG | FLEXSHARES TR | $3.3M | 16,733 | 0.00% |
| YSS | YORK SPACE SYSTEMS INC | $3.0M | 136,622 | 0.00% |
| AKTS | AKTIS ONCOLOGY INC | $2.7M | 149,476 | 0.00% |
| CBC | CENTRAL BANCOMPANY | $2.6M | 108,792 | 0.00% |
| FUBO | FUBOTV INC | $2.5M | 259,331 | 0.00% |
| WLTH | WEALTHFRONT CORP | $2.4M | 256,616 | 0.00% |
| MANE | VERADERMICS INC | $2.2M | 34,537 | 0.00% |
| ATAI | ATAIBECKLEY INC | $1.9M | 538,050 | 0.00% |
Closed out (184)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| AZNN | ASTRAZENECA PLC | $437.3M | 4,756,686 | 0.00% |
| AMCR | AMCOR PLC | $162.7M | 19,514,316 | 0.00% |
| CMA | COMERICA INC | $121.9M | 1,402,411 | 0.00% |
| CYBR | CYBERARK SOFTWARE LTD | $118.3M | 265,164 | 0.00% |
| EXK | EXACT SCIENCES CORP | $110.9M | 1,091,519 | 0.00% |
| CADE | CADENCE BANK | $105.9M | 2,471,074 | 0.00% |
| FYBR | FRONTIER COMMUNICATIONS PARE | $87.2M | 2,289,885 | 0.00% |
| DAY | DAYFORCE INC | $84.8M | 1,226,453 | 0.00% |
| RNAGBP | AVIDITY BIOSCIENCES INC | $73.5M | 1,019,087 | 0.00% |
| PINNACLE FINL PARTNERS I | PINNACLE FINL PARTNERS INC | $72.7M | 762,417 | 0.00% |
| 62C | PIPER SANDLER COMPANIES | $62.6M | 184,351 | 0.00% |
| SYU1 | SYNOVUS FINL CORP | $56.7M | 1,133,001 | 0.00% |
| QGEN | QIAGEN NV | $49.4M | 1,098,653 | 0.00% |
| 8QR | CONFLUENT INC | $47.5M | 1,570,203 | 0.00% |
| TGNA | TEGNA INC | $45.0M | 2,317,389 | 0.00% |
| CDTX | CIDARA THERAPEUTICS INC | $39.6M | 179,081 | 0.00% |
| INDV | INDIVIOR PLC | $39.0M | 1,086,214 | 0.00% |
| PCH | POTLATCHDELTIC CORPORATION | $34.6M | 870,152 | 0.00% |
| 1RG | REV GROUP INC | $25.6M | 421,425 | 0.00% |
| 9HI | HILLENBRAND INC | $25.0M | 789,077 | 0.00% |
| CIVI | CIVITAS RESOURCES INC | $21.3M | 787,951 | 0.00% |
| ALEX | ALEXANDER & BALDWIN INC NEW | $18.5M | 896,715 | 0.00% |
| AVDL | AVADEL PHARMACEUTICALS PLC | $17.2M | 797,200 | 0.00% |
| DVAX | DYNAVAX TECHNOLOGIES CORP | $15.2M | 987,127 | 0.00% |
| ANYWHERE REAL ESTATE INC | ANYWHERE REAL ESTATE INC | $12.8M | 904,109 | 0.00% |
Added to (2455)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| GUNR | FLEXSHARES TR | $4.2B | 76,877,898 | 0.56% | +16% |
| VEA | VANGUARD TAX-MANAGED FDS | $3.4B | 53,670,869 | 0.45% | +3% |
| GE | GE AEROSPACE | $2.9B | 10,265,761 | 0.39% | +2% |
| VWO | VANGUARD INTL EQUITY INDEX F | $2.7B | 50,333,913 | 0.36% | +6% |
| IBM | INTERNATIONAL BUSINESS MACHS | $2.5B | 10,304,788 | 0.33% | +2% |
| TJX | TJX COS INC NEW | $2.2B | 13,633,062 | 0.29% | +1% |
| EFA | ISHARES TR | $2.1B | 22,026,841 | 0.28% | +3% |
| INTC | INTEL CORP | $2.0B | 44,887,372 | 0.26% | +2% |
| COP | CONOCOPHILLIPS | $1.7B | 12,560,577 | 0.22% | +6% |
| IJH | ISHARES TR | $1.6B | 23,838,148 | 0.21% | +2% |
| PANW | PALO ALTO NETWORKS INC | $1.4B | 8,680,485 | 0.18% | +15% |
| TILT | FLEXSHARES TR | $1.4B | 5,711,879 | 0.18% | +3% |
| VEU | VANGUARD INTL EQUITY INDEX F | $1.3B | 17,534,310 | 0.17% | +3% |
| BA | BOEING CO | $1.3B | 6,472,901 | 0.17% | +2% |
| IJR | ISHARES TR | $1.2B | 9,555,089 | 0.16% | +1% |
Trimmed (899)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| ARCC | ARES CAPITAL CORP | $336,758 | 18,688 | 0.00% | -98% |
| ELME | ELME COMMUNITIES | $136,229 | 67,776 | 0.00% | -96% |
| TLT | ISHARES TR | $2.4M | 27,618 | 0.00% | -88% |
| HYPR | HYPERFINE INC | $191,557 | 177,368 | 0.00% | -87% |
| AIV | APARTMENT INVT & MGMT CO | $829,247 | 203,746 | 0.00% | -84% |
| IMMATICS N.V | IMMATICS N.V | $358,589 | 36,442 | 0.00% | -82% |
| ZLAB | ZAI LAB LTD | $483,586 | 25,709 | 0.00% | -73% |
| SSL | SASOL LTD | $597,068 | 46,070 | 0.00% | -73% |
| PFLT | PENNANTPARK FLOATING RATE CA | $102,623 | 12,764 | 0.00% | -72% |
| BBCA | J P MORGAN EXCHANGE TRADED F | $641,301 | 6,818 | 0.00% | -71% |
| BBDC | BARINGS BDC INC | $157,596 | 19,149 | 0.00% | -71% |
| PMVP | PMV PHARMACEUTICALS INC | $143,123 | 115,422 | 0.00% | -70% |
| SPSM | SPDR SERIES TRUST | $468,994 | 9,706 | 0.00% | -69% |
| MOAT | VANECK ETF TRUST | $579,813 | 5,996 | 0.00% | -69% |
| STEVANATO GROUP S P A | STEVANATO GROUP S P A | $163,557 | 11,895 | 0.00% | -69% |
The book
Largest 150 of 4,396 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| NVDA | NVIDIA CORPORATION | $44.1B | 252,741,836 | 5.83% | — |
| AAPL | APPLE INC | $40.4B | 159,265,625 | 5.34% | — |
| MSFT | MICROSOFT CORP | $29.5B | 79,696,955 | 3.90% | — |
| AMZN | AMAZON COM INC | $19.8B | 95,126,682 | 2.62% | — |
| GOOGL | ALPHABET INC | $18.7B | 64,991,458 | 2.47% | — |
| GOOG | ALPHABET INC | $15.0B | 52,345,296 | 1.98% | — |
| AVGO | BROADCOM INC | $14.7B | 47,625,547 | 1.95% | — |
| META | META PLATFORMS INC | $12.6B | 21,979,768 | 1.66% | — |
| TSLA | TESLA INC | $9.5B | 25,659,609 | 1.26% | — |
| JPM | JPMORGAN CHASE & CO | $9.2B | 31,221,042 | 1.21% | — |
| SPY | STATE STR SPDR S&P 500 ETF T | $9.0B | 13,839,818 | 1.19% | — |
| LLY | ELI LILLY & CO | $8.1B | 8,827,564 | 1.07% | — |
| BRK/B | BERKSHIRE HATHAWAY INC DEL | $7.4B | 15,487,316 | 0.98% | — |
| EXMOC | EXXON MOBIL CORP | $7.3B | 42,776,808 | 0.96% | — |
| JNJ | JOHNSON & JOHNSON | $7.2B | 29,319,669 | 0.95% | — |
| IVV | ISHARES TR | $6.1B | 9,280,154 | 0.80% | — |
| V | VISA INC | $5.3B | 17,650,961 | 0.71% | — |
| WMT | WALMART INC | $5.2B | 41,765,304 | 0.69% | — |
| COST | COSTCO WHOLESALE CORPORATION | $4.9B | 4,928,107 | 0.65% | — |
| ABBV | ABBVIE INC | $4.6B | 21,211,382 | 0.61% | — |
| MA | MASTERCARD INCORPORATED | $4.3B | 8,688,907 | 0.57% | — |
| GUNR | FLEXSHARES TR | $4.2B | 76,877,898 | 0.56% | — |
| CVX | CHEVRON CORPORATION | $4.2B | 20,277,273 | 0.55% | — |
| NFLX | NETFLIX INC. | $4.1B | 42,640,707 | 0.54% | — |
| CAT | CATERPILLAR INC | $4.0B | 5,678,795 | 0.53% | — |
| PG | PROCTER & GAMBLE CO | $3.9B | 27,110,576 | 0.52% | — |
| HD | HOME DEPOT INC | $3.7B | 11,339,555 | 0.49% | — |
| CSCO | CISCO SYS INC | $3.7B | 47,361,518 | 0.49% | — |
| MU | MICRON TECHNOLOGY INC | $3.5B | 10,399,487 | 0.46% | — |
| VEA | VANGUARD TAX-MANAGED FDS | $3.4B | 53,670,869 | 0.45% | — |
| AMD | ADVANCED MICRO DEVICES INC | $3.3B | 16,427,217 | 0.44% | — |
| MRK | MERCK & CO INC | $3.3B | 27,090,023 | 0.43% | — |
| VTI | VANGUARD INDEX FDS | $3.1B | 9,715,051 | 0.41% | — |
| BAC | BANK AMERICA CORP | $3.1B | 63,136,722 | 0.41% | — |
| KO | COCA COLA CO | $3.1B | 40,244,508 | 0.40% | — |
| PLTR | PALANTIR TECHNOLOGIES INC | $3.1B | 20,901,773 | 0.40% | — |
| LRCX | LAM RESEARCH CORP | $3.0B | 14,189,351 | 0.40% | — |
| AMAT | APPLIED MATLS INC | $3.0B | 8,788,352 | 0.40% | — |
| ITW | ILLINOIS TOOL WKS INC | $2.9B | 11,201,579 | 0.39% | — |
| GE | GE AEROSPACE | $2.9B | 10,265,761 | 0.39% | — |
| ORCL | ORACLE CORP | $2.8B | 18,807,683 | 0.37% | — |
| VWO | VANGUARD INTL EQUITY INDEX F | $2.7B | 50,333,913 | 0.36% | — |
| GS | GOLDMAN SACHS GROUP INC | $2.7B | 3,156,087 | 0.35% | — |
| MCD | MCDONALDS CORP | $2.6B | 8,222,023 | 0.34% | — |
| IBM | INTERNATIONAL BUSINESS MACHS | $2.5B | 10,304,788 | 0.33% | — |
| WFC | WELLS FARGO & CO | $2.5B | 31,251,400 | 0.33% | — |
| GEV | GE VERNOVA INC | $2.4B | 2,787,345 | 0.32% | — |
| PM | PHILIP MORRIS INTL INC | $2.4B | 14,437,223 | 0.32% | — |
| UNH | UNITEDHEALTH GROUP INC | $2.4B | 8,779,907 | 0.31% | — |
| IGF | ISHARES TR | $2.3B | 35,024,708 | 0.31% | — |
| RTX | RTX CORPORATION | $2.3B | 12,123,723 | 0.31% | — |
| IWF | ISHARES TR | $2.3B | 5,474,587 | 0.31% | — |
| KLAC | KLA CORP | $2.3B | 1,571,945 | 0.31% | — |
| PEP | PEPSICO INC | $2.3B | 14,853,134 | 0.30% | — |
| VZ | VERIZON COMMUNICATIONS INC | $2.2B | 44,326,558 | 0.29% | — |
| LIN | LINDE PLC | $2.2B | 4,471,719 | 0.29% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $2.2B | 6,509,047 | 0.29% | — |
| AMGN | AMGEN INC | $2.2B | 6,217,838 | 0.29% | — |
| TJX | TJX COS INC NEW | $2.2B | 13,633,062 | 0.29% | — |
| C | CITIGROUP INC | $2.1B | 18,871,558 | 0.28% | — |
| EFA | ISHARES TR | $2.1B | 22,026,841 | 0.28% | — |
| TDTT | FLEXSHARES TR | $2.1B | 88,184,475 | 0.28% | — |
| NFRA | FLEXSHARES TR | $2.1B | 33,287,053 | 0.28% | — |
| MS | MORGAN STANLEY | $2.1B | 12,818,061 | 0.28% | — |
| AGG | ISHARES TR | $2.1B | 20,758,453 | 0.27% | — |
| NEE | NEXTERA ENERGY INC | $2.1B | 22,176,123 | 0.27% | — |
| T | AT&T INC | $2.0B | 68,723,236 | 0.26% | — |
| ABT | ABBOTT LABORATORIES | $2.0B | 19,394,974 | 0.26% | — |
| INTC | INTEL CORP | $2.0B | 44,887,372 | 0.26% | — |
| GILD | GILEAD SCIENCES INC | $1.9B | 13,820,379 | 0.25% | — |
| DIS | DISNEY WALT CO | $1.9B | 19,952,805 | 0.25% | — |
| CRM | SALESFORCE INC | $1.9B | 10,242,400 | 0.25% | — |
| AXP | AMERICAN EXPRESS CO | $1.9B | 6,292,668 | 0.25% | — |
| TXN | TEXAS INSTRS INC | $1.8B | 9,521,566 | 0.24% | — |
| WELL | WELLTOWER INC | $1.8B | 8,999,817 | 0.24% | — |
| PFE | PFIZER INC | $1.7B | 62,026,552 | 0.23% | — |
| PLD | PROLOGIS INC. | $1.7B | 12,944,980 | 0.23% | — |
| APH | AMPHENOL CORP | $1.7B | 13,469,540 | 0.22% | — |
| TMO | THERMO FISHER SCIENTIFIC INC | $1.7B | 3,415,610 | 0.22% | — |
| ADI | ANALOG DEVICES INC | $1.7B | 5,257,988 | 0.22% | — |
| COP | CONOCOPHILLIPS | $1.7B | 12,560,577 | 0.22% | — |
| UNP | UNION PAC CORP | $1.6B | 6,676,592 | 0.21% | — |
| ISRG | INTUITIVE SURGICAL INC | $1.6B | 3,504,272 | 0.21% | — |
| IJH | ISHARES TR | $1.6B | 23,838,148 | 0.21% | — |
| ETN | EATON CORP PLC | $1.6B | 4,380,146 | 0.21% | — |
| SCHW | SCHWAB CHARLES CORP | $1.5B | 16,360,776 | 0.20% | — |
| DE | DEERE & CO | $1.5B | 2,708,753 | 0.20% | — |
| QCOM | QUALCOMM INC | $1.5B | 11,790,442 | 0.20% | — |
| BKNG | BOOKING HOLDINGS INC | $1.5B | 357,433 | 0.20% | — |
| BMY | BRISTOL-MYERS SQUIBB CO | $1.5B | 24,758,771 | 0.20% | — |
| BLK | BLACKROCK INC | $1.5B | 1,531,523 | 0.19% | — |
| EQIX | EQUINIX INC | $1.5B | 1,500,559 | 0.19% | — |
| ACN | ACCENTURE PLC IRELAND | $1.5B | 7,380,278 | 0.19% | — |
| LOW | LOWES COS INC | $1.5B | 6,144,504 | 0.19% | — |
| INTU | INTUIT | $1.4B | 3,335,324 | 0.19% | — |
| NEM | NEWMONT CORP | $1.4B | 12,913,822 | 0.18% | — |
| PANW | PALO ALTO NETWORKS INC | $1.4B | 8,680,485 | 0.18% | — |
| TILT | FLEXSHARES TR | $1.4B | 5,711,879 | 0.18% | — |
| DHR | DANAHER CORP DEL | $1.3B | 7,080,901 | 0.18% | — |
| UBER | UBER TECHNOLOGIES INC | $1.3B | 18,635,245 | 0.18% | — |
| VEU | VANGUARD INTL EQUITY INDEX F | $1.3B | 17,534,310 | 0.17% | — |
| IGSB | ISHARES TR | $1.3B | 24,747,406 | 0.17% | — |
| SPGI | S&P GLOBAL INC | $1.3B | 3,039,331 | 0.17% | — |
| BA | BOEING CO | $1.3B | 6,472,901 | 0.17% | — |
| HONGBP | HONEYWELL INTL INC | $1.3B | 5,624,515 | 0.17% | — |
| MCK | MCKESSON CORP | $1.3B | 1,462,181 | 0.17% | — |
| ANET | ARISTA NETWORKS INC | $1.2B | 10,143,211 | 0.16% | — |
| USHY | ISHARES TR | $1.2B | 33,695,245 | 0.16% | — |
| ADP | AUTOMATIC DATA PROCESSING IN | $1.2B | 6,000,697 | 0.16% | — |
| IJR | ISHARES TR | $1.2B | 9,555,089 | 0.16% | — |
| RAVI | FLEXSHARES TR | $1.2B | 15,703,681 | 0.16% | — |
| GLW | CORNING INC | $1.2B | 8,698,937 | 0.16% | — |
| LMT | LOCKHEED MARTIN CORP | $1.2B | 1,941,095 | 0.16% | — |
| COF | CAPITAL ONE FINL CORP | $1.2B | 6,401,387 | 0.15% | — |
| CB | CHUBB LTD SWITZ | $1.2B | 3,578,627 | 0.15% | — |
| GD | GENERAL DYNAMICS CORP | $1.2B | 3,374,579 | 0.15% | — |
| PGR | PROGRESSIVE CORP | $1.2B | 5,837,447 | 0.15% | — |
| ADBE | ADOBE INC | $1.2B | 4,751,645 | 0.15% | — |
| VRTX | VERTEX PHARMACEUTICALS INC | $1.1B | 2,564,264 | 0.15% | — |
| NOW | SERVICENOW INC | $1.1B | 10,837,127 | 0.15% | — |
| PH | PARKER-HANNIFIN CORP | $1.1B | 1,246,740 | 0.15% | — |
| IWD | ISHARES TR | $1.1B | 5,157,221 | 0.15% | — |
| SBUX | STARBUCKS CORP | $1.1B | 12,273,320 | 0.15% | — |
| ICE | INTERCONTINENTAL EXCHANGE IN | $1.1B | 6,932,110 | 0.14% | — |
| SYK | STRYKER CORPORATION | $1.1B | 3,303,484 | 0.14% | — |
| MO | ALTRIA GROUP INC | $1.1B | 16,039,394 | 0.14% | — |
| CME | CME GROUP INC | $1.0B | 3,552,814 | 0.14% | — |
| CTVA | CORTEVA INC | $1.0B | 12,475,876 | 0.14% | — |
| TT | TRANE TECHNOLOGIES PLC | $1.0B | 2,505,124 | 0.14% | — |
| CMCSA | COMCAST CORP NEW | $1.0B | 36,359,424 | 0.14% | — |
| MDT | MEDTRONIC PLC | $1.0B | 12,036,821 | 0.14% | — |
| GNR | SPDR INDEX SHS FDS | $1.0B | 13,800,351 | 0.14% | — |
| IWM | ISHARES TR | $1.0B | 4,147,706 | 0.14% | — |
| DLR | DIGITAL RLTY TR INC | $995.8M | 5,525,709 | 0.13% | — |
| IWR | ISHARES TR | $990.3M | 10,185,510 | 0.13% | — |
| BNY | BANK NEW YORK MELLON CORP | $987.2M | 8,321,680 | 0.13% | — |
| WMB | WILLIAMS COS INC | $977.0M | 13,423,842 | 0.13% | — |
| WDC | WESTERN DIGITAL CORP | $975.5M | 3,606,563 | 0.13% | — |
| ASML | ASML HLDG NV | $973.2M | 736,801 | 0.13% | — |
| TMUS | T-MOBILE US INC | $964.9M | 4,594,338 | 0.13% | — |
| DUK | DUKE ENERGY CORP NEW | $964.0M | 7,362,197 | 0.13% | — |
| APP | APPLOVIN CORP | $958.1M | 2,407,191 | 0.13% | — |
| SO | SOUTHERN CO | $948.5M | 9,827,426 | 0.13% | — |
| IWB | ISHARES TR | $947.9M | 2,658,525 | 0.13% | — |
| SPG | SIMON PPTY GROUP INC NEW | $933.1M | 5,002,392 | 0.12% | — |
| CMI | CUMMINS INC | $926.5M | 1,722,109 | 0.12% | — |
| AMT | AMERICAN TOWER CORP | $921.5M | 5,339,734 | 0.12% | — |
| CRWD | CROWDSTRIKE HLDGS INC | $917.3M | 2,349,671 | 0.12% | — |
| BSV | VANGUARD BD INDEX FDS | $907.5M | 11,574,338 | 0.12% | — |
| PNC | PNC FINL SVCS GROUP INC | $904.3M | 4,345,760 | 0.12% | — |
This table is the 150 largest positions by value, out of 4,396 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 NORTHERN TRUST CORP (CIK 73124, accession 0000073124-26-000036). 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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