Methodology — Not An Insider

What a 13F tells you

Certain institutional investment managers file Form 13F after each calendar quarter. The public information table lists covered long positions, reported values, share or principal amounts, and put/call indicators. Filing deadlines can be up to 45 days after quarter end, so every view names both dates instead of describing the data as live.

Which filings enter a snapshot

Only configured managers with a verified CIK and usable public information table are eligible. Duplicate accession numbers are ignored. Amendments are retained, and a reporting period is not published until the latest usable filing set has passed review. An unreliable manager is excluded rather than silently filled with an earlier or synthetic portfolio.

Security mapping and eligible positions

CUSIPs are stored exactly as filed, then mapped and cached through OpenFIGI when that service is configured. Source rows and share classes remain separate unless a reviewed grouping policy says otherwise. Put/call and principal-amount rows are retained but excluded from the default long-equity combined portfolio. Cash and short positions are not inferred.

Equal investor weighted

Each eligible manager’s disclosed long-equity positions are first normalised to 100%. The normalised manager portfolios are then averaged equally and matching securities are added together. A manager with a larger reported portfolio therefore receives no more influence than a smaller manager. This is the default consumer view.

combined security weight = sum of manager security weights ÷ eligible manager count

Capital weighted

Every eligible reported dollar counts equally. For each security, reported values are summed across managers and divided by the total eligible reported value. Large managers and large positions therefore have more influence.

security weight = combined reported security value ÷ combined eligible reported value

Official disclosed versus estimated current

Official disclosed: Uses the values reported for the filing period. It is labelled with the quarter-end date and does not move with today’s market.
Estimated current: Multiplies the last disclosed share count by the latest validated cached daily close available for that security. It always names the price date. Missing, non-matching-currency, or implausible prices are excluded rather than guessed.

The manager may have traded since the filing date. Estimated value is not an estimate of the manager’s current trade or intent.

What to verify

Check the linked filing, amendment status, report date, price date, included managers, and chosen weighting method before relying on a figure. If a verified snapshot is not available, the product shows an unavailable state rather than sample holdings.

Return to the combined portfolio or review the manager register.