Track Record

The receipts, in public

Every signal scored against SPY. Losing quarters stay on the page.

Every signal this site publishes is scored against the S&P 500 and the scoreboard is public — losing quarters included. Returns use dividend-adjusted closes; trading costs and taxes are not reflected. How everything is measured: Methodology.

Headline 13F signals

SignalSignals (n)Win rateAvgMedianSPYExcess
Heavy accumulation — 3+ tracked funds increased together
In that quarter, 3 or more tracked funds increased their share count in the same stock by 20% or more.
2,72456.1%+2.7%+1.8%+3.2%-0.5%
Share count tripled (3x)
A tracked fund at least tripled its share count, with the signal-quarter-end position value at $5M or more.
59854.9%+1.4%+1.2%+3.1%-1.8%
Heavy exit — 3+ tracked funds sold out together
In that quarter, 3 or more tracked funds sold their entire position in the same stock. Sells are noisier than buys and need care in interpretation.
13051.5%-0.4%+1.5%+4.2%-4.6%

Entry = the close on the first trading day after the quarter's filing deadline (the deadline is 45 days after quarter-end) — the first close at which every filing behind the signal was public; exit = the same rule one quarter later. Measured across 19 signal quarters (2021Q3 – 2026Q1), computed Oct 4, 2026.

Sensitivity: entering at the filing deadline\u2019s own close instead — the convention used before Oct 2026 — gives excess returns of S1 -0.5% · S2 -1.6% · S3 -3.9%. The change of basis moves no conclusion; the entry rule was changed because an audit of EDGAR acceptance timestamps found about 31% of the filings behind these signals were accepted only after the deadline day\u2019s close, so that close was not always tradeable on public information.

What each quarter’s BEST list did next

Each quarter we rank the most-bought stocks (the BEST list). The Top 30, equal-weighted, are then scored over the following quarter under two entry bases: at the filing deadline (the first day the list was public) and at quarter-end. n = how many of the 30 could be measured.

Super investors · 13F BEST

Quartern scoredFiled-entry avgSPYExcessQuarter-end avgSPYExcessHit rate*
2026 Q230 / 30-3.3%-1.5%-1.7%+3.9%+2.4%+1.5%47%
2026 Q130 / 30-1.1%+1.3%-2.4%+11.3%+15.1%-3.9%80%
2025 Q430 / 30-4.3%-4.3%+0.0%-4.8%-4.4%-0.4%23%
2025 Q330 / 30+4.0%+1.8%+2.2%+3.1%+2.7%+0.5%70%
2025 Q230 / 30+3.5%+3.6%-0.1%+5.3%+8.1%-2.8%67%
2025 Q130 / 30+6.7%+5.0%+1.8%+10.8%+10.8%-0.0%70%
2024 Q430 / 30-6.1%-8.0%+1.9%-0.6%-4.3%+3.6%43%
2024 Q330 / 30-2.1%-0.9%-1.2%+5.2%+2.5%+2.7%60%
2024 Q230 / 30+6.1%+5.8%+0.2%+7.1%+5.8%+1.4%70%
2024 Q130 / 30+1.1%+3.1%-1.9%+3.8%+4.4%-0.6%67%
2023 Q430 / 30+6.0%+5.2%+0.7%+12.4%+10.4%+2.0%83%
2023 Q330 / 30+6.5%+6.3%+0.2%+10.6%+11.6%-1.0%87%
2023 Q230 / 30-5.5%-4.3%-1.3%-2.4%-3.2%+0.8%43%
2023 Q130 / 30+8.7%+7.7%+0.9%+9.8%+8.7%+1.1%83%
2022 Q430 / 30-2.3%-0.4%-1.9%+10.2%+7.5%+2.7%73%
2022 Q330 / 30-2.9%-2.8%-0.1%+6.9%+7.6%-0.7%73%
2022 Q230 / 30-18.4%-16.4%-2.1%-7.3%-4.9%-2.4%17%
2022 Q130 / 30-3.7%-5.3%+1.6%-16.4%-16.1%-0.3%17%
2021 Q430 / 30-0.9%+3.2%-4.1%-4.2%-4.6%+0.4%30%
2021 Q330 / 30-1.9%+2.0%-3.9%+5.5%+11.1%-5.6%70%

Filed-entry basis: 8 of 20 scored quarters beat SPY. *Hit rate uses the quarter-end basis.

Insiders · Form 4 BEST

Quartern scoredFiled-entry avgSPYExcessQuarter-end avgSPYExcessHit rate*
2026 Q230 / 30-12.5%-1.5%-11.0%-5.1%+2.4%-7.5%23%
2026 Q130 / 30+15.6%+1.3%+14.3%+23.8%+15.1%+8.7%80%
2025 Q430 / 30+1.4%-4.3%+5.8%+2.0%-4.4%+6.4%57%
2025 Q330 / 30+8.6%+1.8%+6.8%+4.9%+2.7%+2.2%63%
2025 Q230 / 30+1.9%+3.6%-1.7%+10.3%+8.1%+2.2%50%
2025 Q130 / 30+3.7%+5.0%-1.2%+4.5%+10.8%-6.3%47%
2024 Q429 / 30-8.5%-8.0%-0.5%-0.2%-4.3%+4.1%45%
2024 Q330 / 30+0.7%-0.9%+1.6%+11.0%+2.5%+8.5%67%
2024 Q230 / 30+1.4%+5.8%-4.4%+4.2%+5.8%-1.6%57%
2024 Q129 / 30+0.4%+3.1%-2.6%+1.0%+4.4%-3.4%45%
2023 Q430 / 30+8.9%+5.2%+3.7%+4.7%+10.4%-5.7%47%
2023 Q330 / 30+12.8%+6.3%+6.4%+5.5%+11.6%-6.1%60%
2023 Q230 / 30-9.2%-4.3%-5.0%-2.2%-3.2%+1.0%53%
2023 Q130 / 30+7.4%+7.7%-0.3%+7.8%+8.7%-0.9%70%
2022 Q430 / 30-7.3%-0.4%-6.9%+9.7%+7.5%+2.2%57%
2022 Q330 / 30-4.7%-2.8%-2.0%+10.9%+7.6%+3.4%63%
2022 Q230 / 30-21.1%-16.4%-4.7%+3.2%-4.9%+8.1%43%
2022 Q130 / 30-6.5%-5.3%-1.2%-19.4%-16.1%-3.3%7%
2021 Q430 / 30+15.1%+3.2%+11.9%+3.4%-4.6%+8.0%47%
2021 Q330 / 30-6.3%+2.0%-8.3%-1.7%+11.1%-12.8%50%

Filed-entry basis: 7 of 20 scored quarters beat SPY. *Hit rate uses the quarter-end basis.

Politicians · House BEST

Quartern scoredFiled-entry avgSPYExcessQuarter-end avgSPYExcessHit rate*
2026 Q230 / 30-1.9%-1.5%-0.4%-1.3%+2.4%-3.7%37%
2026 Q130 / 30+7.7%+1.3%+6.4%+31.3%+15.1%+16.2%83%
2025 Q430 / 30-4.1%-4.3%+0.2%-7.9%-4.4%-3.5%27%
2025 Q330 / 30+1.8%+1.8%-0.0%+2.4%+2.7%-0.3%43%
2025 Q230 / 30+4.9%+3.6%+1.3%+8.2%+8.1%+0.1%70%
2025 Q130 / 30+5.2%+5.0%+0.2%+16.0%+10.8%+5.2%70%
2024 Q430 / 30-8.5%-8.0%-0.5%-3.1%-4.3%+1.1%43%
2024 Q330 / 30-2.4%-0.9%-1.5%-1.1%+2.5%-3.6%33%
2024 Q230 / 30+7.6%+5.8%+1.7%+11.1%+5.8%+5.3%80%
2024 Q129 / 30+1.6%+3.1%-1.5%+5.3%+4.4%+1.0%66%
2023 Q429 / 30+6.1%+5.2%+0.8%+12.8%+10.4%+2.5%83%
2023 Q330 / 30+6.9%+6.3%+0.5%+10.1%+11.6%-1.6%90%
2023 Q229 / 30-3.1%-4.3%+1.2%-0.8%-3.2%+2.4%48%
2023 Q130 / 30+9.4%+7.7%+1.7%+10.7%+8.7%+2.1%77%
2022 Q428 / 30+0.3%-0.4%+0.7%+13.3%+7.5%+5.9%71%
2022 Q330 / 30-3.0%-2.8%-0.3%+8.8%+7.6%+1.2%80%
2022 Q224 / 30-16.5%-16.4%-0.2%-8.2%-4.9%-3.2%29%
2022 Q129 / 30-5.4%-5.3%-0.1%-15.7%-16.1%+0.4%21%
2021 Q428 / 30-0.5%+3.2%-3.7%-6.9%-4.6%-2.2%36%
2021 Q329 / 30+1.7%+2.0%-0.3%+13.7%+11.1%+2.7%72%

Filed-entry basis: 10 of 20 scored quarters beat SPY. *Hit rate uses the quarter-end basis.

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