What this measures
The value-weighted return of each manager’s disclosed long equity positions, rebalanced at every 13F filing date and repriced against live quotes. The year-to-date figure chains each quarter of 2026 together; the quarter boundaries fall on 31 December, so the start of the year is a real rebalance point in the data rather than a number cut in half.
The gap between "weekly" and "quarterly"
This page refreshes every Friday, and the figure genuinely moves — the last leg of every manager’s return is priced against the current market. What does not move weekly is what they own. A 13F is filed once a quarter, up to 45 days after that quarter ends, so at the worst point in the cycle you are looking at a portfolio up to four and a half months old. A manager can have sold a position long before it disappears from this list.
What a 13F cannot show you
It covers U.S.-listed long equity and some options. It does not cover short positions, cash, bonds, foreign listings or anything held through a structure that does not file. A manager who made the year on a short book will look flat here, and one who hedged a rising long book will look better than they were. This is a measure of the disclosed longs, and nothing more.
Why some managers are missing
A performance figure is suppressed below $100 million in reported holdings or fewer than four positions, because a return computed from a handful of names is noise. Managers whose most recent filing has gone stale are suppressed too, rather than carried forward on prices alone.
Reading it against the insider data
The most useful cross-check on this site is where a manager’s disclosed position overlaps with open-market insider buying in the same company. One is a professional allocating other people’s money with a quarter’s delay; the other is an officer spending their own, disclosed within two business days.
How often this updates
Rebuilt every Friday after the close. The companion evergreen view — which hedge funds are performing best over a trailing twelve months — is refreshed when new 13Fs land.
