INSTITUTIONAL HOLDINGS

Who owns this name, from the quarterly 13F filings, in two layers. The top is the aggregate read — concentration regime, share of float held by institutions, net buyers against net sellers. Under it sits the ledger the aggregate is made of: which kind of manager owns it, which of them hold it as a conviction position (more than 2% of their own book), and who the biggest buyers and sellers were this quarter.

What it is for is spotting a cluster. Three hedge funds or value managers building the same name in the same quarter is a different signal from one index fund rebalancing into it, and the manager-kind breakdown plus the biggest-movers strip surface that without reading the whole holders table row by row.

• Menu path: Add Panel › Macro › Positioning & Options › Institutional Ownership.
• Or the command palette (Ctrl+P) by name. The panel follows the active symbol, so pointing the chart at a ticker points this at it too.

• Hero strip — symbol, filing quarter, total holders count, total float owned %, net-buyers count (positive = more managers building than trimming).
• Kind breakdown — six columns showing the count and total $ value held by manager kind: Passive (ETF sponsors), Mutual (Fidelity / Capital Group / T. Rowe), Hedge (Citadel / Millennium / D.E. Shaw), Value (Berkshire / Ruane / Baillie Gifford), Sov-Pen (Norges / GIC / CalPERS), Other.
• Quarterly actions — count of NEW / ADDED / REDUCED / SOLD-OUT across all 13F filers this quarter.
• Conviction holders — top 5 managers by portfolio weight on this issuer (filtered to >2% of their book). These are the managers most exposed to single-name risk on this name; their actions matter most.
• Top buyers — five biggest share-count adders this quarter, with the action tag (NEW / ADD).
• Top sellers — five biggest share-count reducers this quarter, with the action tag (TRIM / EXIT).
• Drill-down mnemonics — DES / HOLD / INS / FA shortcuts for the related panels.

The high-edge read here is the cluster move — multiple managers of the same kind building the same name in the same quarter. A single hedge fund adding NVDA isn't informative; three hedge funds doing it in the same quarter is. The kind breakdown surfaces this:

• Hedge cluster building — typically a thesis-driven trade with a 2-6 month horizon. Hedge funds turn over fastest, so when several add at once, something specific is in the air.
• Value cluster building — much rarer and much higher-edge. Value managers (Berkshire, Ruane, Baillie Gifford) take 5-10 year views. When two or three add in the same quarter, the name has likely passed both a quality screen and a price screen at the institutional level.
• Mutual cluster building — closer to a benchmark-tracking move than thesis conviction. Less informative, but worth noting if it diverges from sector-ETF flows (in the ETF Flows panel).
• Hedge cluster trimming alongside Mutual increasing — divergence signal. Smart money exiting on what mutual-fund flows are forcing them to add. Often a regime-shift tell.

• 13F lag is 45 days. The data shows positions as of the prior quarter end, filed 45 days later. By the time you read it, the position may have already changed materially. Treat it as "what they were doing recently" not "what they hold today."
• Long-only disclosure. 13F filings only cover long positions in US-listed equities. Short positions, options, futures, foreign equities, and private holdings are not in the dataset. The ledger is incomplete by design.
• Form 13F is a quarterly snapshot. A manager who held a position for 89 of 90 days but exited on day 90 shows as a NEW seller; a manager who held for 1 day mid-quarter shows nothing. Reality is noisier than the ledger suggests.
• Manager kind classification is heuristic. The classifier uses filer name patterns + AUM tier + filing pattern to infer Passive / Mutual / Hedge / Value / Sov-Pen. Most filers classify cleanly; edge cases (multi-strategy giants, mixed-mandate firms) get a best-guess tag.

• HOLD — the aggregate Holdings summary view (concentration regime, full holders table, net-flow count). The top of the panel is the report card; the table under it is the ledger that report card is computed from.
• DES — orient on the security before reading the ownership story.
• INS — Form 4 insider trades. Pair with this panel to triangulate what insiders AND institutions are doing.
• FA — financial fundamentals. When this panel flags a cluster build, Fundamentals is where you check if the financials support the thesis.