Smart Money Flows · 9REMORAS

Lag

A 13F portrays the portfolio on the last day of the quarter and is only published up to 45 days later. What you see here is where the money stood on —, not where it stands today. That is exactly why this page sits next to the Council: one shows what the managers did, the other what the market is doing now.

Rotation wheel

each manager's dominant move between the last two quarters

into a cyclical / offense sector into a defensive sector other destinations

Each arrow is one manager. It leaves the sector they cut the most and lands on the sector they added the most, between the two quarters. Thickness is the size of the move in percentage points of the portfolio. Node size is the sector's aggregate weight in the most recent quarter. Click a manager to isolate their arrow.

Value is the total equity reported in each manager's most recent 13F. Put options count toward the declared total but are left out of the sector reading, because they are protection rather than directional allocation.

Where the money went

Go deeper

NextPortfolios Sector allocation, quarter-over-quarter change and top holdings, one manager at a time. DetailCoverage Which managers are in, which are out and why, and how much of the value is classified. CompareCouncil rotation map What the live tape says about the same sectors, and where the two readings part ways.