13F holdings
PICTON MAHONEY ASSET MANAGEMENT portfolio
Managed by . 1,199 reported positions worth $9.6B as of 2026-03-31, filed with the SEC on 2026-05-13. Parsed from the filing itself, not a reseller.
$9.6B
Book value
1,199
Positions
25%
Top 10 weight
+266
New this quarter
-241
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 43 days old on 2026-05-13, 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 (266)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| SLF | SUN LIFE FINANCIAL INC | $86.2M | 1,374,917 | 0.90% |
| PEN | PENUMBRA INC | $26.3M | 80,000 | 0.27% |
| AU | ANGLOGOLD ASHANTI PLC | $25.4M | 261,357 | 0.27% |
| CDE | COEUR MNG INC | $20.2M | 1,079,102 | 0.21% |
| CGAU | CENTERRA GOLD INC | $19.5M | 1,100,036 | 0.20% |
| OVV | OVINTIV INC | $17.7M | 297,560 | 0.18% |
| CENX | CENTURY ALUM CO | $17.3M | 295,330 | 0.18% |
| MRK | MERCK & CO INC | $16.3M | 135,203 | 0.17% |
| WMB | WILLIAMS COS INC | $16.1M | 220,576 | 0.17% |
| FVICN 3.75 06/30/29 | FORTUNA MNG CORP | $14.7M | 8,500,000 | 0.15% |
| WDC 3 11/15/28 | WESTERN DIGITAL CORP | $14.3M | 2,000,000 | 0.15% |
| CTAS | CINTAS CORP | $14.0M | 82,857 | 0.15% |
| ACLXGBX | ARCELLX INC | $13.8M | 120,000 | 0.14% |
| SJM | SMUCKER J M CO | $12.2M | 126,050 | 0.13% |
| EQXCN 4.75 10/15/28 | EQUINOX GOLD CORP | $12.1M | 5,000,000 | 0.13% |
| AEIS 2.5 09/15/28 | ADVANCED ENERGY INDS | $12.0M | 5,000,000 | 0.13% |
| TW | TRADEWEB MKTS INC | $12.0M | 101,902 | 0.12% |
| CTRA | COTERRA ENERGY INC | $11.3M | 321,002 | 0.12% |
| CAT | CATERPILLAR INC | $11.2M | 15,803 | 0.12% |
| SO | SOUTHERN CO | $11.0M | 114,444 | 0.12% |
| AEAQ | ACTIVATE ENERGY ACQUISIT COR | $10.1M | 1,025,000 | 0.11% |
| GPAC | GENERAL PURP ACQUISITION COR | $9.9M | 1,000,000 | 0.10% |
| COHR | COHERENT CORP | $9.6M | 40,294 | 0.10% |
| CL | COLGATE PALMOLIVE CO | $9.2M | 108,372 | 0.10% |
| SEI | SOLARIS ENERGY INFRAS INC | $9.2M | 163,385 | 0.10% |
Closed out (241)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| VOE | VANGUARD INDEX FDS | $97.1M | 547,312 | 0.00% |
| CYBR | CYBERARK SOFTWARE LTD | $70.5M | 158,005 | 0.00% |
| CIGI | COLLIERS INTL GROUP INC | $55.3M | 375,697 | 0.00% |
| EXK | EXACT SCIENCES CORP | $40.6M | 400,000 | 0.00% |
| DAY | DAYFORCE INC | $38.0M | 550,000 | 0.00% |
| KRE | SPDR SERIES TRUST | $34.6M | 534,159 | 0.00% |
| RNAGBP | AVIDITY BIOSCIENCES INC | $30.7M | 425,000 | 0.00% |
| TPG | TPG INC | $28.1M | 440,521 | 0.00% |
| BROOKFIELD BUSINESS PART | BROOKFIELD BUSINESS PARTNERS | $22.2M | 627,777 | 0.00% |
| CADE | CADENCE BANK | $21.6M | 505,100 | 0.00% |
| 8QR | CONFLUENT INC | $17.1M | 565,500 | 0.00% |
| MEOH | METHANEX CORP | $16.8M | 422,784 | 0.00% |
| CDTX | CIDARA THERAPEUTICS INC | $16.6M | 75,000 | 0.00% |
| FTW | EQV VENTURES ACQUISITION COR | $16.3M | 1,549,997 | 0.00% |
| GVA 3.75 05/15/28 | GRANITE CONSTR INC | $15.3M | 6,000,000 | 0.00% |
| 9HI | HILLENBRAND INC | $15.1M | 477,243 | 0.00% |
| NGDN | NEW GOLD INC CDA | $14.2M | 1,635,694 | 0.00% |
| GFI | GOLD FIELDS LTD | $14.1M | 322,907 | 0.00% |
| DPZ | DOMINOS PIZZA INC | $12.4M | 29,842 | 0.00% |
| CRM | SALESFORCE INC | $10.6M | 40,197 | 0.00% |
| AEAQU | ACTIVATE ENERGY ACQUISITION | $10.2M | 1,025,000 | 0.00% |
| GPACU | GENERAL PURP ACQUISITION COR | $10.0M | 1,000,000 | 0.00% |
| INSM | INSMED INC | $10.0M | 57,259 | 0.00% |
| FSLR | FIRST SOLAR INC | $9.9M | 38,077 | 0.00% |
| CHURCHILL CAPITAL CORP I | CHURCHILL CAPITAL CORP IX | $9.5M | 898,300 | 0.00% |
Added to (336)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| TD | TORONTO DOMINION BK ONT | $350.0M | 3,746,718 | 3.65% | +10% |
| CNQ | CANADIAN NAT RES LTD MED TER | $262.5M | 5,381,403 | 2.74% | +15% |
| SHOP | SHOPIFY INC | $253.5M | 2,135,617 | 2.64% | +10% |
| AEM | AGNICO EAGLE MINES LTD | $196.7M | 968,916 | 2.05% | +26% |
| CP | CANADIAN PACIFIC KANSAS CITY | $195.2M | 2,479,436 | 2.03% | +10% |
| SU | SUNCOR ENERGY INC NEW | $190.2M | 2,874,698 | 1.98% | +201% |
| FNV | FRANCO NEV CORP | $188.1M | 759,289 | 1.96% | +20% |
| NVDA | NVIDIA CORPORATION | $155.2M | 889,790 | 1.62% | +11% |
| ENB | ENBRIDGE INC | $150.7M | 2,780,513 | 1.57% | +4% |
| BN | BROOKFIELD CORP | $148.2M | 3,655,199 | 1.54% | +1% |
| OR | OR ROYALTIES INC | $127.2M | 3,340,194 | 1.33% | +6% |
| GOOGL | ALPHABET INC | $119.0M | 413,828 | 1.24% | +8% |
| RCI | ROGERS COMMUNICATIONS INC | $115.1M | 2,992,163 | 1.20% | +7% |
| CLS | CELESTICA INC | $93.3M | 330,699 | 0.97% | +16% |
| AMZN | AMAZON COM INC | $75.4M | 362,073 | 0.79% | +6% |
Trimmed (183)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| IQV | IQVIA HLDGS INC | $853 | 5 | 0.00% | -100% |
| ACN | ACCENTURE PLC IRELAND | $595 | 3 | 0.00% | -100% |
| CHRD | CHORD ENERGY CORPORATION | $1,137 | 8 | 0.00% | -100% |
| DLB | DOLBY LABORATORIES INC | $961 | 16 | 0.00% | -100% |
| ADMA | ADMA BIOLOGICS INC | $577 | 64 | 0.00% | -100% |
| TAP | MOLSON COORS BEVERAGE CO | $904 | 21 | 0.00% | -100% |
| CNXC | CONCENTRIX CORP | $465 | 17 | 0.00% | -100% |
| EPRT | ESSENTIAL PPTYS RLTY TR INC | $1,063 | 35 | 0.00% | -100% |
| CNA | CNA FINL CORP | $1,056 | 23 | 0.00% | -100% |
| BBY | BEST BUY INC | $770 | 12 | 0.00% | -100% |
| PBI | PITNEY BOWES INC | $1,867 | 169 | 0.00% | -100% |
| FTNT | FORTINET INC | $1,226 | 15 | 0.00% | -100% |
| XEL | XCEL ENERGY INC | $1,430 | 18 | 0.00% | -100% |
| HIW | HIGHWOODS PPTYS INC | $749 | 35 | 0.00% | -100% |
| SR | SPIRE INC | $1,539 | 17 | 0.00% | -100% |
The book
Largest 150 of 1,199 holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| RY | ROYAL BK CDA | $429.2M | 2,654,433 | 4.47% | — |
| TD | TORONTO DOMINION BK ONT | $350.0M | 3,746,718 | 3.65% | — |
| CNQ | CANADIAN NAT RES LTD MED TER | $262.5M | 5,381,403 | 2.74% | — |
| SHOP | SHOPIFY INC | $253.5M | 2,135,617 | 2.64% | — |
| AEM | AGNICO EAGLE MINES LTD | $196.7M | 968,916 | 2.05% | — |
| CP | CANADIAN PACIFIC KANSAS CITY | $195.2M | 2,479,436 | 2.03% | — |
| SU | SUNCOR ENERGY INC NEW | $190.2M | 2,874,698 | 1.98% | — |
| FNV | FRANCO NEV CORP | $188.1M | 759,289 | 1.96% | — |
| NVDA | NVIDIA CORPORATION | $155.2M | 889,790 | 1.62% | — |
| ENB | ENBRIDGE INC | $150.7M | 2,780,513 | 1.57% | — |
| BN | BROOKFIELD CORP | $148.2M | 3,655,199 | 1.54% | — |
| TRP | TC ENERGY CORP | $129.1M | 2,064,368 | 1.35% | — |
| CVE | CENOVUS ENERGY INC | $128.8M | 4,867,402 | 1.34% | — |
| OR | OR ROYALTIES INC | $127.2M | 3,340,194 | 1.33% | — |
| GOOGL | ALPHABET INC | $119.0M | 413,828 | 1.24% | — |
| RCI | ROGERS COMMUNICATIONS INC | $115.1M | 2,992,163 | 1.20% | — |
| B | BARRICK MNG CORP | $114.1M | 2,790,362 | 1.19% | — |
| WPM | WHEATON PRECIOUS METALS CORP | $105.8M | 805,623 | 1.10% | — |
| AAPL | APPLE INC | $102.9M | 405,360 | 1.07% | — |
| CLS | CELESTICA INC | $93.3M | 330,699 | 0.97% | — |
| IAG | IAMGOLD CORP | $89.5M | 4,758,754 | 0.93% | — |
| SLF | SUN LIFE FINANCIAL INC | $86.2M | 1,374,917 | 0.90% | — |
| HBM | HUDBAY MINERALS INC | $78.7M | 3,758,830 | 0.82% | — |
| AMZN | AMAZON COM INC | $75.4M | 362,073 | 0.79% | — |
| MSFT | MICROSOFT CORP | $73.8M | 199,360 | 0.77% | — |
| RSP | INVESCO EXCHANGE TRADED FD T | $73.2M | 381,604 | 0.76% | — |
| WCN | WASTE CONNECTIONS INC | $71.4M | 439,114 | 0.74% | — |
| BGSI | BOYD GROUP SERVICES INC | $70.3M | 550,447 | 0.73% | — |
| TECK | TECK RESOURCES LTD | $69.9M | 1,349,983 | 0.73% | — |
| SPLV | INVESCO EXCH TRADED FD TR II | $69.6M | 951,612 | 0.73% | — |
| CCJ | CAMECO CORP | $64.9M | 597,374 | 0.68% | — |
| BEP | BROOKFIELD RENEWABLE ENERGY | $61.3M | 1,878,324 | 0.64% | — |
| AVGO | BROADCOM INC | $59.5M | 192,152 | 0.62% | — |
| GIL | GILDAN ACTIVEWEAR INC | $55.2M | 991,564 | 0.58% | — |
| MGA | MAGNA INTL INC | $53.5M | 958,016 | 0.56% | — |
| LITE 1.5 12/15/29 | LUMENTUM HLDGS INC | $50.4M | 5,000,000 | 0.53% | — |
| HO1 | HOLOGIC INC | $49.2M | 650,514 | 0.51% | — |
| AL | AIR LEASE CORP | $45.4M | 698,572 | 0.47% | — |
| PAAS | PAN AMERN SILVER CORP | $44.4M | 810,557 | 0.46% | — |
| BIP | BROOKFIELD INFRASTRUCTURE PA | $43.4M | 1,203,560 | 0.45% | — |
| SDA | SEALED AIR CORP NEW | $42.2M | 1,003,539 | 0.44% | — |
| EA* | ELECTRONIC ARTS INC | $41.7M | 204,600 | 0.43% | — |
| CAE | CAE INC | $40.5M | 1,554,416 | 0.42% | — |
| CHART INDS INC | CHART INDS INC | $39.9M | 192,779 | 0.42% | — |
| DSGX | DESCARTES SYS GROUP INC | $39.7M | 553,578 | 0.41% | — |
| JPM | JPMORGAN CHASE & CO | $37.5M | 127,375 | 0.39% | — |
| DOO | BRP INC | $36.9M | 512,818 | 0.38% | — |
| MFC | MANULIFE FINL CORP | $36.5M | 1,058,547 | 0.38% | — |
| FSV | FIRSTSERVICE CORP NEW | $34.0M | 244,183 | 0.35% | — |
| TSM | TAIWAN SEMICONDUCTOR MANUFAC | $33.7M | 99,636 | 0.35% | — |
| SCHW | SCHWAB CHARLES CORP | $33.2M | 353,629 | 0.35% | — |
| RBC | RBC BEARINGS INC | $32.9M | 60,623 | 0.34% | — |
| BMO | BANK MONTREAL MEDIUM | $32.2M | 237,936 | 0.34% | — |
| MS | MORGAN STANLEY | $30.6M | 186,230 | 0.32% | — |
| META | META PLATFORMS INC | $30.6M | 53,531 | 0.32% | — |
| LLY | ELI LILLY & CO | $30.3M | 32,987 | 0.32% | — |
| HWM | HOWMET AEROSPACE INC | $30.1M | 130,545 | 0.31% | — |
| AQN | ALGONQUIN POWER & UTILITIES | $29.9M | 4,880,746 | 0.31% | — |
| PWR | QUANTA SVCS INC | $29.0M | 52,789 | 0.30% | — |
| TJX | TJX COS INC NEW | $29.0M | 181,324 | 0.30% | — |
| KKR | KKR & CO INC | $27.9M | 302,038 | 0.29% | — |
| COF | CAPITAL ONE FINL CORP | $27.5M | 150,492 | 0.29% | — |
| CAH | CARDINAL HEALTH INC | $27.3M | 129,134 | 0.28% | — |
| KO | COCA COLA CO | $27.2M | 358,012 | 0.28% | — |
| ADI | ANALOG DEVICES INC | $26.9M | 84,552 | 0.28% | — |
| TER | TERADYNE INC | $26.4M | 89,026 | 0.28% | — |
| PEN | PENUMBRA INC | $26.3M | 80,000 | 0.27% | — |
| XPO | XPO INC | $25.9M | 132,878 | 0.27% | — |
| WMT | WALMART INC | $25.6M | 205,676 | 0.27% | — |
| AU | ANGLOGOLD ASHANTI PLC | $25.4M | 261,357 | 0.27% | — |
| BA | BOEING CO | $25.3M | 126,912 | 0.26% | — |
| SNDK | SANDISK CORP | $25.1M | 39,496 | 0.26% | — |
| PPL | PPL CORP | $24.7M | 647,653 | 0.26% | — |
| VTR | VENTAS INC | $24.7M | 302,350 | 0.26% | — |
| NET | CLOUDFLARE INC | $24.6M | 119,286 | 0.26% | — |
| TEVA | TEVA PHARMACEUTICAL INDS LTD | $24.4M | 810,218 | 0.25% | — |
| CNI | CANADIAN NATL RY CO | $24.2M | 234,955 | 0.25% | — |
| SPOT | SPOTIFY TECHNOLOGY S A | $24.0M | 49,561 | 0.25% | — |
| GH | GUARDANT HEALTH INC | $23.1M | 249,991 | 0.24% | — |
| HD | HOME DEPOT INC | $22.8M | 69,244 | 0.24% | — |
| RKT | ROCKET COS INC | $22.5M | 1,578,770 | 0.23% | — |
| MCO | MOODYS CORP | $22.2M | 50,782 | 0.23% | — |
| LPLA | LPL FINL HLDGS INC | $22.0M | 73,050 | 0.23% | — |
| TMO | THERMO FISHER SCIENTIFIC INC | $21.9M | 44,543 | 0.23% | — |
| JANUS HENDERSON GROUP PL | JANUS HENDERSON GROUP PLC | $21.8M | 425,031 | 0.23% | — |
| V | VISA INC | $21.7M | 71,745 | 0.23% | — |
| SII | SPROTT INC | $21.6M | 151,114 | 0.22% | — |
| NSC | NORFOLK SOUTHN CORP | $21.5M | 75,000 | 0.22% | — |
| AMD | ADVANCED MICRO DEVICES INC | $21.4M | 105,430 | 0.22% | — |
| HAS | HASBRO INC | $21.2M | 226,607 | 0.22% | — |
| ISRG | INTUITIVE SURGICAL INC | $21.2M | 45,961 | 0.22% | — |
| AON | AON PLC | $20.3M | 63,005 | 0.21% | — |
| CDE | COEUR MNG INC | $20.2M | 1,079,102 | 0.21% | — |
| ALF | CENTURION ACQUISITION CORP | $20.2M | 1,875,000 | 0.21% | — |
| AIZ | ASSURANT INC | $20.1M | 92,412 | 0.21% | — |
| WBD | WARNER BROS DISCOVERY INC | $20.0M | 727,800 | 0.21% | — |
| CGAU | CENTERRA GOLD INC | $19.5M | 1,100,036 | 0.20% | — |
| TRI4EUR | THOMSON REUTERS CORP | $19.5M | 215,779 | 0.20% | — |
| AME | AMETEK INC | $19.4M | 90,626 | 0.20% | — |
| VLY | VALLEY NATL BANCORP | $19.3M | 1,571,575 | 0.20% | — |
| AM6 | AMICUS THERAPEUTIC | $19.2M | 1,330,842 | 0.20% | — |
| APO | APOLLO GLOBAL MGMT INC | $19.2M | 172,486 | 0.20% | — |
| CRWD | CROWDSTRIKE HLDGS INC | $19.2M | 49,208 | 0.20% | — |
| C | CITIGROUP INC | $19.0M | 167,450 | 0.20% | — |
| ARES | ARES MANAGEMENT CORPORATION | $18.9M | 173,255 | 0.20% | — |
| WAB | WABTEC | $18.8M | 75,185 | 0.20% | — |
| SLSR | SOLARIS RES INC | $18.6M | 2,157,522 | 0.19% | — |
| PDS | PRECISION DRILLING CORP | $18.5M | 187,799 | 0.19% | — |
| MDB | MONGODB INC | $18.3M | 74,672 | 0.19% | — |
| NTRA | NATERA INC | $18.0M | 90,161 | 0.19% | — |
| LRCX | LAM RESEARCH CORP | $18.0M | 84,101 | 0.19% | — |
| TSLA | TESLA INC | $18.0M | 48,294 | 0.19% | — |
| LPAA | LAUNCH ONE ACQUISITION CORP | $17.9M | 1,669,756 | 0.19% | — |
| NFLX | NETFLIX INC | $17.8M | 184,915 | 0.19% | — |
| WBS | WEBSTER FINL CORP | $17.8M | 255,935 | 0.19% | — |
| OVV | OVINTIV INC | $17.7M | 297,560 | 0.18% | — |
| FIVE | FIVE BELOW INC | $17.5M | 76,438 | 0.18% | — |
| CM | CANADIAN IMPERIAL BANK OF CO | $17.4M | 183,173 | 0.18% | — |
| CENX | CENTURY ALUM CO | $17.3M | 295,330 | 0.18% | — |
| RDNT | RADNET INC | $17.3M | 309,120 | 0.18% | — |
| NTR | NUTRIEN LTD | $16.8M | 223,150 | 0.18% | — |
| SUNC | SUNOCOCORP LLC | $16.7M | 271,525 | 0.17% | — |
| ELAN | ELANCO ANIMAL HEALTH INC | $16.7M | 698,688 | 0.17% | — |
| PANW | PALO ALTO NETWORKS INC | $16.6M | 103,254 | 0.17% | — |
| CLH | CLEAN HARBORS INC | $16.5M | 57,420 | 0.17% | — |
| CRL | CHARLES RIV LABS INTL INC | $16.5M | 95,396 | 0.17% | — |
| HOOD | ROBINHOOD MKTS INC | $16.4M | 237,345 | 0.17% | — |
| GVA 3.25 06/15/30 | GRANITE CONSTR INC | $16.4M | 10,000,000 | 0.17% | — |
| TPR | TAPESTRY INC | $16.4M | 116,257 | 0.17% | — |
| MRK | MERCK & CO INC | $16.3M | 135,203 | 0.17% | — |
| SNOW | SNOWFLAKE INC | $16.2M | 107,420 | 0.17% | — |
| CUB | LIONHEART HOLDINGS | $16.1M | 1,500,000 | 0.17% | — |
| CGNX | COGNEX CORP | $16.1M | 328,655 | 0.17% | — |
| WMB | WILLIAMS COS INC | $16.1M | 220,576 | 0.17% | — |
| DASH | DOORDASH INC | $15.9M | 106,179 | 0.17% | — |
| ICE | INTERCONTINENTAL EXCHANGE IN | $15.9M | 101,249 | 0.17% | — |
| LYV 3.125 01/15/29 | LIVE NATION ENTERTAINMENT IN | $15.2M | 10,000,000 | 0.16% | — |
| EVRG | EVERGY INC | $15.2M | 185,564 | 0.16% | — |
| TLN | TALEN ENERGY CORP | $15.2M | 47,574 | 0.16% | — |
| FAST | FASTENAL CO | $15.0M | 323,709 | 0.16% | — |
| GPAT | GP-ACT III ACQUISITION CORP | $14.9M | 1,375,000 | 0.16% | — |
| SAIA | SAIA INC | $14.9M | 42,307 | 0.15% | — |
| FVICN 3.75 06/30/29 | FORTUNA MNG CORP | $14.7M | 8,500,000 | 0.15% | — |
| LITE | LUMENTUM HLDGS INC | $14.6M | 20,832 | 0.15% | — |
| PFGC | PERFORMANCE FOOD GROUP CO | $14.4M | 167,810 | 0.15% | — |
| INTC | INTEL CORP | $14.3M | 325,094 | 0.15% | — |
| WDC 3 11/15/28 | WESTERN DIGITAL CORP | $14.3M | 2,000,000 | 0.15% | — |
| BRZE | BRAZE INC | $14.2M | 600,172 | 0.15% | — |
| PG | PROCTER & GAMBLE CO | $14.0M | 97,226 | 0.15% | — |
| CTAS | CINTAS CORP | $14.0M | 82,857 | 0.15% | — |
This table is the 150 largest positions by value, out of 1,199 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 39 options positions with a combined notional of $4.0B. 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 PICTON MAHONEY ASSET MANAGEMENT (CIK 1539041, accession 0001539041-26-000013). 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
Free · no spam
Get the weekly edge report
The best-performing indicator per asset, what changed this week, and the honest caveats — straight to your inbox.