Follow The Filings

What the superinvestors bought and sold in 2026 Q3

7 of 137 filed, holdings as of 30 Sep 2026, updated today

2026 Q3

7 of 137 filed
Pick managers

Combine any of the managers. A manager counts once it has a 13F for both quarters.

Early read. 7 of 137 managers have filed 2026 Q3 so far, due 16 Nov. Everything below covers the managers with a book in both quarters and will change as filings land.

2026 Q3 13F filing tracker

24 days to the 16 November deadline. 7 of 137 managers have filed. Most file in the final days before the deadline.

Just filed

  1. Murphy Pohlad, Murphy Pohlad Asset Management filed 22 Oct $288M book
  2. John Armitage, Egerton Capital (UK) filed 20 Oct $9.8B book
  3. Kentucky Trust Co., Kentucky Trust filed 15 Oct $200M book
  4. Claude Leveille, Courant Investment Management filed 15 Oct $87M book
  5. David Katz, Matrix Asset Advisors filed 13 Oct $1.2B book
  6. Himanshu Shah, Shah Capital Management filed 9 Oct $605M book
  7. Andrew Steginsky, Steginsky Capital filed 7 Oct $610M book

Biggest books still to file

  1. Warren Buffett, Berkshire Hathaway $299.3B last quarter
  2. Dodge & Cox $191B last quarter
  3. Lewis Sanders, Sanders Capital $99.8B last quarter
  4. Bill Nygren / Oakmark, Harris Associates L P $75.4B last quarter
  5. Ron Baron, Bamco Inc. (Baron Capital) $66.6B last quarter
  6. First Eagle Investment Management $59.9B last quarter
  7. Chris Hohn, Tci Fund Management $52.8B last quarter
  8. Philippe Laffont, Coatue Management $48.6B last quarter
  9. Eric Mandelblatt, Soroban Capital Partners $47.8B last quarter
  10. Ben Hoskin, Value Aligned Research Advisors $40.1B last quarter
  11. Andreas Halvorsen, Viking Global Investors $35.1B last quarter
  12. Dan Sundheim, D1 Capital Partners $34.8B last quarter

The quarter at a glance

5 of 7 managers were net sellers. Setting price aside, they took $38M out, led by Materials (−$252M), while adding to Consumer Discretionary (+$277M). APH was the most widely bought stock (3 bought, 0 sold); GOOG / GOOGL the most widely sold (3 sold, 0 bought).

Net buyers 0 of 7 managers 5 sold more than they bought and 2 were about even.
Net bought −$38M What they bought less what they sold, not counting price changes. Prices alone took $198M off their holdings.
Positions opened 20 10 closed out. Shares received in spin-offs and mergers, and stocks no filer we track holds now, are not counted.

Most bought and sold

Ranked by how many managers bought minus how many sold, with price moves taken out. Open a stock to see who.

Most bought

  1. 1 APH Amphenol 3 bought, 0 sold +$82M

    Bought by

    Sold by

    No manager sold.

    APH: every holder and its history

  2. 2 LIN Linde 2 bought, 0 sold +$48M

    Bought by

    Sold by

    No manager sold.

    LIN: every holder and its history

  3. 3 ACN Accenture 2 bought, 0 sold +$3.8M

    Bought by

    Sold by

    No manager sold.

    ACN: every holder and its history

  4. 4 VTV Vanguard Index Funds 2 bought, 0 sold +$590K

    Bought by

    Sold by

    No manager sold.

    VTV: every holder and its history

  5. 5 VZ Verizon 2 bought, 0 sold +$173K

    Bought by

    Sold by

    No manager sold.

    VZ: every holder and its history

  6. 6 AMZN Amazon 1 bought, 0 sold +$285M

    Bought by

    Sold by

    No manager sold.

    AMZN: every holder and its history

  7. 7 ICE Intercontinental Exchange 1 bought, 0 sold +$223M

    Bought by

    Sold by

    No manager sold.

    ICE: every holder and its history

  8. 8 SPGI S&P Global 1 bought, 0 sold +$173M

    Bought by

    Sold by

    No manager sold.

    SPGI: every holder and its history

  9. 9 META Meta Platforms 1 bought, 0 sold +$141M

    Bought by

    Sold by

    No manager sold.

    META: every holder and its history

  10. 10 DIS Disney 1 bought, 0 sold +$98M

    Bought by

    Sold by

    No manager sold.

    DIS: every holder and its history

Not counted as buying: 2 names the managers received for a stock they held (spin-offs, mergers, CUSIP changes).

Most sold

  1. 1 GOOG / GOOGL Alphabet 0 bought, 3 sold −$420M

    Sold by

    Bought by

    No manager bought.

    GOOG / GOOGL: every holder and its history

  2. 2 LMT Lockheed Martin 0 bought, 3 sold −$17M

    Sold by

    Bought by

    No manager bought.

    LMT: every holder and its history

  3. 3 AMAT Applied Materials 0 bought, 2 sold −$267M

    Sold by

    Bought by

    No manager bought.

    AMAT: every holder and its history

  4. 4 VMC Vulcan Materials 0 bought, 2 sold −$236M

    Sold by

    Bought by

    No manager bought.

    VMC: every holder and its history

  5. 5 LAMR Lamar Advertising 0 bought, 2 sold −$32M

    Sold by

    Bought by

    No manager bought.

    LAMR: every holder and its history

  6. 6 JPM JPMorgan Chase 0 bought, 2 sold −$16M

    Sold by

    Bought by

    No manager bought.

    JPM: every holder and its history

  7. 7 NKE Nike 0 bought, 2 sold −$8.6M

    Sold by

    Bought by

    No manager bought.

    NKE: every holder and its history

  8. 8 AMGN Amgen 0 bought, 2 sold −$8.1M

    Sold by

    Bought by

    No manager bought.

    AMGN: every holder and its history

  9. 9 COST Costco 0 bought, 2 sold −$1.7M

    Sold by

    Bought by

    No manager bought.

    COST: every holder and its history

  10. 10 ABBV AbbVie 0 bought, 2 sold −$1.4M

    Sold by

    Bought by

    No manager bought.

    ABBV: every holder and its history

Not counted as selling: 11 names no tracked filer holds now (mergers, delistings, CUSIP changes, full exits).

Biggest bets by size

Stocks 2 or more managers bought or sold, ranked by each manager’s trade as a share of its own book, added up. Two managers putting 5% each into a stock outrank ten adding 0.2%. Price moves are taken out.

Bought the most of their books

  1. APH Amphenol avg 0.29% of book 3 managers: John Armitage 0.84%, Kentucky Trust Co. 0.03% and 1 more

    Bought by

    Sold by

    No manager sold.

    APH: every holder and its history

  2. ACN Accenture avg 0.42% of book 2 managers: Murphy Pohlad 0.69%, David Katz 0.15%

    Bought by

    Sold by

    No manager sold.

    ACN: every holder and its history

  3. LIN Linde avg 0.25% of book 2 managers: John Armitage 0.49%, Kentucky Trust Co. 0.01%

    Bought by

    Sold by

    No manager sold.

    LIN: every holder and its history

  4. XOM Exxon Mobil avg 0.14% of book 2 managers: Kentucky Trust Co. 0.28%, David Katz <0.01%

    Bought by

    Sold by

    XOM: every holder and its history

  5. VTV Vanguard Index Funds avg 0.04% of book 2 managers: David Katz 0.04%, Murphy Pohlad 0.03%

    Bought by

    Sold by

    No manager sold.

    VTV: every holder and its history

  6. VZ Verizon avg 0.04% of book 2 managers: Kentucky Trust Co. 0.04%, Murphy Pohlad 0.03%

    Bought by

    Sold by

    No manager sold.

    VZ: every holder and its history

Sold the most of their books

  1. JPM JPMorgan Chase avg 8.6% of book 2 managers: Claude Leveille 17.1%, Murphy Pohlad 0.04%

    Sold by

    Bought by

    No manager bought.

    JPM: every holder and its history

  2. GOOG / GOOGL Alphabet avg 2.2% of book 3 managers: John Armitage 4.1%, Andrew Steginsky 2.2% and 1 more

    Sold by

    Bought by

    No manager bought.

    GOOG / GOOGL: every holder and its history

  3. AMAT Applied Materials avg 1.4% of book 2 managers: John Armitage 2.7%, Murphy Pohlad 0.02%

    Sold by

    Bought by

    No manager bought.

    AMAT: every holder and its history

  4. VMC Vulcan Materials avg 1.2% of book 2 managers: John Armitage 2.4%, Kentucky Trust Co. 0.09%

    Sold by

    Bought by

    No manager bought.

    VMC: every holder and its history

  5. LMT Lockheed Martin avg 0.47% of book 3 managers: David Katz 1.4%, Murphy Pohlad 0.01% and 1 more

    Sold by

    Bought by

    No manager bought.

    LMT: every holder and its history

  6. NKE Nike avg 0.45% of book 2 managers: David Katz 0.65%, Murphy Pohlad 0.24%

    Sold by

    Bought by

    No manager bought.

    NKE: every holder and its history

  7. AMGN Amgen avg 0.36% of book 2 managers: David Katz 0.66%, Kentucky Trust Co. 0.06%

    Sold by

    Bought by

    No manager bought.

    AMGN: every holder and its history

  8. LAMR Lamar Advertising avg 0.21% of book 2 managers: John Armitage 0.33%, Murphy Pohlad 0.09%

    Sold by

    Bought by

    No manager bought.

    LAMR: every holder and its history

  9. INTC Intel avg 0.21% of book 2 managers: Murphy Pohlad 0.33%, Kentucky Trust Co. 0.08%

    Sold by

    Bought by

    No manager bought.

    INTC: every holder and its history

  10. COST Costco avg 0.15% of book 2 managers: Andrew Steginsky 0.27%, Murphy Pohlad 0.03%

    Sold by

    Bought by

    No manager bought.

    COST: every holder and its history

Opened and closed

New positions started from zero, and positions sold down to zero. Shares received in spin-offs and mergers, and names no tracked filer holds now, are left out.

Opened by the most managers

  1. ICE Intercontinental Exchange 1 manager John Armitage (avg 2.3% of book)

    Opened by

    ICE: every holder and its history

  2. META Meta Platforms 1 manager John Armitage (avg 1.4% of book)

    Opened by

    META: every holder and its history

  3. TMO Thermo Fisher Scientific 1 manager John Armitage (avg 1.4% of book)

    Opened by

    TMO: every holder and its history

  4. DIS Disney 1 manager John Armitage (avg 1.00% of book)

    Opened by

    DIS: every holder and its history

  5. UBER Uber 1 manager David Katz (avg 0.93% of book)

    Opened by

    UBER: every holder and its history

  6. ACN Accenture 1 manager Murphy Pohlad (avg 0.69% of book)

    Opened by

    ACN: every holder and its history

  7. CRM Salesforce 1 manager Murphy Pohlad (avg 0.49% of book)

    Opened by

    CRM: every holder and its history

  8. BSX Boston Scientific 1 manager Murphy Pohlad (avg 0.38% of book)

    Opened by

    BSX: every holder and its history

  9. ELTX Elicio Therapeutics IPO or first pick 1 manager Himanshu Shah (avg 0.38% of book)

    Opened by

    ELTX: every holder and its history

  10. KHC Kraft Heinz 1 manager Murphy Pohlad (avg 0.36% of book)

    Opened by

    KHC: every holder and its history

Closed out by the most managers

  1. AMAT Applied Materials 1 manager John Armitage (was avg 3.6% of book)

    Closed by

    AMAT: every holder and its history

  2. UBER Uber 1 manager John Armitage (was avg 1.6% of book)

    Closed by

    UBER: every holder and its history

  3. LMT Lockheed Martin 1 manager David Katz (was avg 1.4% of book)

    Closed by

    LMT: every holder and its history

  4. NKE Nike 1 manager David Katz (was avg 0.75% of book)

    Closed by

    NKE: every holder and its history

  5. XOM Exxon Mobil 1 manager Murphy Pohlad (was avg 0.20% of book)

    Closed by

    XOM: every holder and its history

  6. VYM Vanguard Whitehall Funds 1 manager Murphy Pohlad (was avg 0.07% of book)

    Closed by

    VYM: every holder and its history

  7. CL Colgate-Palmolive 1 manager David Katz (was avg 0.02% of book)

    Closed by

    CL: every holder and its history

  8. IBM IBM 1 manager David Katz (was avg 0.02% of book)

    Closed by

    IBM: every holder and its history

  9. TSLA Tesla 1 manager David Katz (was avg 0.02% of book)

    Closed by

    TSLA: every holder and its history

  10. AEP American Electric Power 1 manager Kentucky Trust Co. (was avg <0.01% of book)

    Closed by

    AEP: every holder and its history

New to tracked filers

Stocks no tracked filer held last quarter. IPOs and first-time picks count as buying in the lists above. A stake held before an IPO first shows up on the 13F the quarter the company lists, so a new position can be an old one. Shares received for a stock a manager already held count as neither bought nor sold.

IPOs and first-time picks

  1. ELTX Elicio Therapeutics 1 manager Himanshu Shah (avg 0.38% of book)

    Opened by

    ELTX: every holder and its history

  2. REAX Real Remax Group 1 manager Himanshu Shah (avg 0.06% of book)

    Opened by

    REAX: every holder and its history

Received in spin-offs and mergers

  1. BZFD Buzzfeed 1 holder
  2. Mobility Global Mobility Global 1 holder

Where the money went

Net bought by sector, with price moves taken out. Pick a sector to see its names.

Communication Services gained weight (+1.4 pts) even though managers sold $182M of it: weight follows price, not buying. Names without a sector (funds, foreign listings, private shares): +$16M.

Who moved the most

The biggest new positions, measured against each manager’s own book, and the managers that traded the most of theirs.

Biggest new bets

  1. John Armitage, Egerton Capital (UK) opened ICE (Intercontinental Exchange) 2.3% of book
  2. David Katz, Matrix Asset Advisors opened UBER (Uber) 0.93% of book
  3. Murphy Pohlad, Murphy Pohlad Asset Management opened ACN (Accenture) 0.69% of book
  4. Himanshu Shah, Shah Capital Management opened ELTX IPO or first pick (Elicio Therapeutics) 0.38% of book
  5. Kentucky Trust Co., Kentucky Trust opened PRMB (Primo Brands Corporation Ordinary Shares -) <0.01% of book

Most active managers

  1. John Armitage, Egerton Capital (UK) 4 opened, 2 closed, +$22M net 29% of book traded
  2. Claude Leveille, Courant Investment Management 0 opened, 0 closed, −$15M net 14% of book traded
  3. David Katz, Matrix Asset Advisors 1 opened, 5 closed, −$9.4M net 10% of book traded
  4. Murphy Pohlad, Murphy Pohlad Asset Management 10 opened, 2 closed, −$1.3M net 8% of book traded
  5. Himanshu Shah, Shah Capital Management 2 opened, 0 closed, −$13M net 7% of book traded
  6. Kentucky Trust Co., Kentucky Trust 3 opened, 1 closed, +$436K net 5% of book traded

What they hold

Most owned counts managers, with the change since last quarter. Largest is the share of the combined book, each manager counting once. Biggest average position is the average weight among holders, three or more.

Most owned

  1. 1 GOOG / GOOGL Alphabet 5 managers no change
  2. 2 COST Costco 4 managers no change
  3. 3 JPM JPMorgan Chase 4 managers no change
  4. 4 LOW Lowe's 4 managers no change
  5. 5 BRK.B / BRK.A Berkshire Hathaway 4 managers no change
  6. 6 TMO Thermo Fisher Scientific 4 managers +1
  7. 7 AMZN Amazon 3 managers no change
  8. 8 V Visa 3 managers no change
  9. 9 MSFT Microsoft 3 managers no change
  10. 10 AAPL Apple 3 managers no change

Largest

  1. 1 VEON Veon Ltd. 8.1% held by 1
  2. 2 GOOG / GOOGL Alphabet 7.5% held by 5
  3. 3 PGR Progressive 3.9% held by 1
  4. 4 NVAX Novavax 3.1% held by 1
  5. 5 SCHW Charles Schwab 2.9% held by 1
  6. 6 COST Costco 2.9% held by 4
  7. 7 JPM JPMorgan Chase 2.5% held by 4
  8. 8 AMZN Amazon 2.4% held by 3
  9. 9 V Visa 2.2% held by 3
  10. 10 MSFT Microsoft 2.0% held by 3

Biggest average position

  1. 1 GOOG / GOOGL Alphabet avg 10.5% held by 5
  2. 2 AMZN Amazon avg 5.6% held by 3
  3. 3 V Visa avg 5.2% held by 3
  4. 4 COST Costco avg 5.0% held by 4
  5. 5 MSFT Microsoft avg 4.6% held by 3
  6. 6 JPM JPMorgan Chase avg 4.3% held by 4
  7. 7 AAPL Apple avg 3.6% held by 3
  8. 8 NVDA Nvidia avg 3.5% held by 3
  9. 9 LOW Lowe's avg 3.3% held by 4
  10. 10 APH Amphenol avg 3.1% held by 3

See all 432 stocks

Did the combined book beat SPY?

Each quarter’s combined book held to the next quarter-end, at the 13Fs’ own prices. Price only, no dividends, and today’s managers throughout. Nobody could have copied it: 13Fs arrive about 45 days after the quarter ends.

Combined book, 8 quarters +44.2% SPY +37.2% Difference +7.0 pts
2024 Q2, the start +0.0% Combined book +0.0% SPY 2024 Q3, since 2024 Q2 +7.7% Combined book +5.4% SPY That quarter: book +7.7%, SPY +5.4% 2024 Q4, since 2024 Q2 +10.4% Combined book +7.7% SPY That quarter: book +2.5%, SPY +2.1% 2025 Q1, since 2024 Q2 +6.2% Combined book +2.8% SPY That quarter: book −3.8%, SPY −4.6% 2025 Q2, since 2024 Q2 +18.8% Combined book +13.5% SPY That quarter: book +11.9%, SPY +10.5% 2025 Q3, since 2024 Q2 +29.1% Combined book +22.4% SPY That quarter: book +8.6%, SPY +7.8% 2025 Q4, since 2024 Q2 +31.8% Combined book +25.3% SPY That quarter: book +2.1%, SPY +2.4% 2026 Q1, since 2024 Q2 +26.0% Combined book +19.5% SPY That quarter: book −4.4%, SPY −4.6% 2026 Q2, since 2024 Q2 +44.2% Combined book +37.2% SPY That quarter: book +14.5%, SPY +14.8%
Quarter by quarter
Quarter Each manager once By dollars SPY Book − SPY Managers
2026 Q2 +14.5% +11.5% +14.8% −0.4 pts 135
2026 Q1 −4.4% −4.2% −4.6% +0.2 pts 136
2025 Q4 +2.1% +2.6% +2.4% −0.2 pts 136
2025 Q3 +8.6% +6.3% +7.8% +0.8 pts 136
2025 Q2 +11.9% +8.1% +10.5% +1.4 pts 136
2025 Q1 −3.8% −2.0% −4.6% +0.7 pts 136
2024 Q4 +2.5% +1.1% +2.1% +0.3 pts 134
2024 Q3 +7.7% +6.9% +5.4% +2.3 pts 133

All 432 names

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6 matching names.

Ticker Company Sector Held by Weight Net bought Bought / sold Opened / closed
PFF iShares Preferred and Income Securities ETF — 1 0.41% +$109K 0 / 0 0 / 0
PM Philip Morris International Consumer Staples 1 0.04% −$8K 0 / 0 0 / 0
RRC Range Resources Energy 1 0.02% −$5K 0 / 0 0 / 0
CARR Carrier Global Industrials 1 <0.01% $0 0 / 0 0 / 0
PGX Invesco Preferred ETF — 1 <0.01% $0 0 / 0 0 / 0
LHX L3Harris Industrials 1 <0.01% $0 0 / 0 0 / 0

How the numbers work

Same managers in both quarters

Changes compare only managers with a 13F in both 2026 Q2 and 2026 Q3: 7 this time. Not in 2026 Q3: Torray Investment Partners, Dodge & Cox, Tweedy, Browne Co., Mason Hawkins, Southeastern Asset Management, Bill Nygren / Oakmark, Harris Associates L P, Harry Burn, Sound Shore Management, Greenhaven Associates, David Rolfe, Wedgewood Partners, Thomas Russo, Gardner Russo & Quinn, Wallace Weitz, Weitz Investment Management, Leon Cooperman, Omega Advisors, Don Yacktman, Yacktman Asset Management, Farallon Capital Management, Prem Watsa, Fairfax Financial Holdings, Carl Icahn, Icahn Capital, Lee Ainslie, Maverick Capital, John Rogers, Ariel Investments, Howard Marks, Oaktree Capital Management, Ron Baron, Bamco Inc. (Baron Capital), Richard Pzena, Pzena Investment Management, George Soros, Soros Fund Management, Steven Check, Check Capital Management, Polen Capital Management, John Paulson, Paulson & Co., Christopher Davis, Davis Selected Advisers, Kahn Brothers Group, Dan Loeb, Third Point, Murray Stahl, Horizon Kinetics Asset Management, Bruce Berkowitz, Fairholme Capital Management, Stephen Mandel, Lone Pine Capital, Seth Klarman, Baupost Group, Alex Roepers, Atlantic Investment Management, Warren Buffett, Berkshire Hathaway, Mairs & Power, Thomas Gayner, Markel Group, Third Avenue Management, Andreas Halvorsen, Viking Global Investors, Jensen Investment Management, Robert Karr, Joho Capital, Chuck Akre, Akre Capital Management, Christopher Bloomstran, Semper Augustus Investments Group, Muhlenkamp & Co., Philippe Laffont, Coatue Management, Bill Miller, Miller Value Partners, Glenview Capital Management, Arnold Van Den Berg, Van Den Berg Management I, Sarah Ketterer, Causeway Capital Management, Gates Foundation Trust, Chase Coleman, Tiger Global Management, King Street Capital Management, William Von Mueffling, Cantillon Capital Management, Spencer Waxman, Shannon River Fund Management, Palo Alto Investors, Hillman Capital Management, Abrams Bison, Abrams Bison Investments, First Eagle Investment Management, Nelson Peltz, Trian Fund Management, David Abrams, Abrams Capital Management, Ako Capital, First Pacific Advisors, Alex Sacerdote, Whale Rock Capital Management, Francis Chou, Chou Associates Management, Nathan Fischel, Dafna Capital Management, Valueact Capital, Valueact Holdings, Chris James, Meritage Group, Senator Investment Group, Triple Frond Partners, Lindsell Train, David Einhorn, DME Capital Management, Lewis Sanders, Sanders Capital, Starboard Value, Eric Mandelblatt, Soroban Capital Partners, Corvex Management, Stanley Druckenmiller, Duquesne Family Office, Brad Gerstner, Altimeter Capital Management, Lyrical Asset Management, Ben Tsai, Spruce House Investment Management, Mohnish Pabrai, Dalal Street, Glenn Greenberg, Brave Warrior Advisors, Vulcan Value Partners, Glenn Welling, Engaged Capital, Nehal Chopra, Ratan Capital Management, Glen Kacher, Light Street Capital Management, Terry Smith, Fundsmith, Sachem Head Capital Management, Davidson Kempner Capital Management, James Silverman, Opaleye Management, Marc Stad, Dragoneer Investment Group, Michael Krensavage, Krensavage Asset Management, Altarock Partners, Norbert Lou, Punch Card Management, Francois Rochon, Giverny Capital, Chris Hohn, Tci Fund Management, David Tepper, Appaloosa, Bryan Lawrence, Oakcliff Capital Partners, Pat Dorsey, Dorsey Asset Management, Clifford Sosin, Cas Investment Partners, Cathie Wood, Ark Investment Management, Dev Kantesaria, Valley Forge Capital Management, Li Lu, Himalaya Capital Management, Ruane, Cunniff & Goldfarb, Scott Miller, Greenhaven Road Investment Management, Dan Sundheim, D1 Capital Partners, Duan Yongping, H&H International Investment, Josh Kushner, Thrive Capital Management, Josh Tarasoff, Greenlea Lane Capital Management, Robert Vinall, Rv Capital AG, Dennis Hong, Shawspring Partners, Greg Alexander, Conifer Management, Gavin Baker, Atreides Management, Paul Singer, Elliott Investment Management, David Witzke, Avidity Partners Management, Henry Ellenbogen, Durable Capital Partners, Ben Jacobs, Anomaly Capital Management, Ryan Packard, Hiddenite Capital Partners, Grant Wonders, Voyager Global Management, Samantha Mclemore, Patient Capital Management, Eric Khrom, Khrom Capital Management, Ram Parameswaran, Octahedron Capital Management, Guy Spier, Aquamarine Zurich AG, Mala Gaonkar, Surgocap Partners, Ben Hoskin, Value Aligned Research Advisors, Estuary Capital Management, Jana Partners Management, Bill Ackman, Pershing Square, Rule One Partners, Situational Awareness, Ning Jin, Avantyr Capital Partners.

Buying versus price

Each holding’s dollar change splits into price (what last quarter’s shares earned by this quarter’s 13F price) and net bought (shares added or cut, times this quarter’s price), using each 13F’s own values. The two add back to the change exactly. Stock splits are adjusted first.

Who counts as a buyer or a seller

A manager bought a stock if it opened a position, or added at least 5% to its shares or a trade worth 0.25% of its book; it sold if it closed the position or cut it by the same amounts. Smaller changes count as holding, and a stock split never counts. A manager was a net buyer for the quarter when its trading added up to at least 0.25% of its book. GOOG and GOOGL count once.

IPOs, spin-offs, mergers and first-time picks

A stock no tracked filer held last quarter is an IPO, a first-time pick, or shares received for a stock a manager already held. Received shares are not counted as buying: when most holders of a stock open the new one at the same share ratio (a spin-off, a merger into a new company, a CUSIP change), they got it, they did not buy it. IPOs and first-time picks are counted as buying and marked “IPO or first pick”. A stake held before an IPO first shows up the quarter the company lists, so it can read as a new position. Dollar totals (net bought, sectors, the most traded books) leave all of these out. A stock no tracked filer holds now (a merger, a delisting, a CUSIP change, or a stock every holder sold) is not counted as selling. Choose them under All names to see them.

Biggest bets by size

Each manager’s trade in a stock, in dollars at this quarter’s 13F price, as a share of its own book: a new position is about its size, an add is the shares added. Buyers count up and sellers down, added across managers, for stocks 2 or more managers bought or sold. One manager’s single bet is under Biggest new bets.

Each manager once, or by dollars

By default every manager counts the same, so a list leads with what the most managers did. By dollars ranks by money moved and weighs holdings by size, so the largest books set the order.

Sectors

GICS sectors where the company has one. Funds, foreign listings and private shares have none; their buying is shown on its own, never filed under Other. Sector weights are shares of the names that have a sector.

The combined book against SPY

Each quarter-end’s combined book is held to the next quarter-end at the 13Fs’ own prices: price only, no dividends, and today’s managers for every quarter. SPY is the same filings’ price for SPY. It is a record of what the managers held, not something anyone could have copied, because 13Fs arrive about 45 days after the quarter ends.

What a 13F leaves out

Long US-listed stock only: no shorts, cash, bonds or foreign listings, and options are left out here.