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🏛️ Institutional Intelligence Center

Follow the money. See what the world's 5 largest institutions ($35T AUM) are buying and selling — based on actual SEC 13F filings.

What are 13F Filings?

Institutions managing >$100M in assets must report their holdings to the SEC every quarter
Filings are published ~45 days after quarter-end
TradePro tracks: BlackRock ($10T), Vanguard ($8T), State Street ($4T), Berkshire Hathaway, and Fidelity — ~$35T AUM total
Filings show what they held at quarter-end — not exactly when they bought or sold

Page Sections

🏆 Smart Money Universe (SMU)

The top 50 most institutionally owned stocks. Columns: #, Holding, WL, Count, Value, BLK/VGD/SST/BRK/FID QoQ, Σ QoQ, MCS.

Count — how many of the 5 institutions own this stock
QoQ columns — quarter-over-quarter change in position size per institution
NEW ▲ — new position opened this quarter
EXIT — position fully closed (warning signal)
Σ QoQ — weighted aggregate change across all institutions
Click any column header to sort ascending/descending

📋 Watchlist vs Smart Money (WvSM)

Compares your personal watchlist against institutional holdings.

✅ Green — institutions own this stock. Your idea is validated by smart money.
⚠️ Warning — institutions do not hold this stock. Not necessarily bad, but worth noting.

📈 Post-Filing Performance

Shows how each stock has performed since the most recent 13F filing date. Helps you answer: "Has the market already priced in the institutional position?"

Examples from Q4 2025: AMZN +24.6%, AVGO +18.9%, GOOGL +8.9%, NVDA +5.5%

📊 13F Filing Chart

An interactive price chart (2 years) with colored markers at each institution's filing date.

Each marker = one institution's 13F filing, color-coded per institution
Hover a marker to see: institution name, QoQ change %, and filed date
Drag & drop a symbol from your watchlist onto the chart, or type in the search field
2Y button — shows 8 quarters of filings
Maximize button — full-screen view

🔄 QoQ Trend Panel

A quick overview of the quarter's biggest institutional moves, displayed as clickable pills:

NEW Positions — stocks where at least one institution opened a fresh position
EXIT Positions — fully closed positions (potential warning)
Conviction Buys — positions increased >10%
Conviction Sells — positions reduced >10%

Click any pill to see which symbols belong to that category.

🌐 Sector Rotation Panel

Shows how institutions rotated capital between sectors from Q3 to Q4. Green bars = inflow, red bars = outflow.

Example: Communication Services +892% in Q4 2025 — driven by NFLX being added as a new position by multiple institutions simultaneously.

Use this to identify macro trends and where institutional money is flowing.

📡 Sector Rotation Graph (RRG)

A real-time Relative Rotation Graph showing where each of the 11 SPDR sector ETFs stands in the rotation cycle right now — and where they are heading. Unlike the 13F-based Sector Rotation Panel above (which is quarterly), this updates daily using live price data.

How to read the quadrants

Quadrant	What it means	Trader implication
🟢 Leading	RS-Ratio > 0 and RS-Momentum > 0 — strong and still strengthening	Capital is flowing in. Momentum is intact.
🟡 Weakening	RS-Ratio > 0 but RS-Momentum < 0 — strong but starting to fade	Still outperforming, but watch for rotation out. Reduce new entries.
🔴 Lagging	RS-Ratio < 0 and RS-Momentum < 0 — weak and weakening	Capital is leaving. Avoid or underweight.
🔵 Improving	RS-Ratio < 0 but RS-Momentum > 0 — weak but recovering ⚡	Early rotation signal. Institutions may be accumulating before the move becomes visible. Highest potential reward.

The classic rotation path is clockwise: Leading → Weakening → Lagging → Improving → back to Leading. A sector moving from Improving to Leading is often the best entry window — 1 to 4 weeks before the broader market notices.

Columns explained

Column	What it shows
RS-Ratio (σ)	How strong the sector is relative to SPY, expressed in standard deviations (Z-score). Positive = outperforming, negative = underperforming. The mini-bar shows magnitude and direction.
RS-Momentum (σ)	How fast the RS-Ratio is changing. Positive = gaining strength, negative = losing strength. This is what places a sector in the top or bottom half of the graph.
Vol Ratio	5-day average volume divided by 20-day average volume. Values above 1.3× (shown in amber) indicate unusually high participation — often confirms that a move is institutional rather than noise.

SRM Signal (top of section)

The Siligardos Sector Rotation Model oscillator summarises the entire market into a single Risk-On / Risk-Off signal by comparing the average 20-day rate-of-change (ROC) of offensive sectors (XLK, XLY, XLI, XLB, XLF) against defensive sectors (XLP, XLU, XLV, XLRE).

🟢 Risk-On — offensive sectors growing faster than defensive. Favours growth and cyclical stocks.
🔴 Risk-Off — defensive sectors outpacing offensive. Consider tighter stops and defensive positioning.
⚡ CROSSING badge — the signal changed direction in the last 5 days. Early warning of a regime change.

The "5d ago" spread shows whether the Risk-On/Off signal is strengthening or fading — a compressing spread (e.g. +2.74% → +0.66%) may precede a crossing even before the badge appears.

Quadrant Change alerts

If a sector ETF has moved to a different quadrant in the last 5 days, it is highlighted as a pill: XLE 🔵→🔴 Improving → Lagging. These are the highest-priority signals to act on — a sector entering Improving is an early buy candidate; one entering Lagging is a warning to reduce exposure.

💡 Real-world example (2026-05-24): XLK alone in Leading (+1.94σ), while XLV and XLP were in Improving. SRM spread compressed from +2.74% to +0.66% in 5 days. Reading: the Tech rally is narrow and losing breadth — defensive sectors quietly accumulating. Watch for XLV/XLP entering Leading as a rotation signal.

Munksvan Confidence Score (MCS)

A composite 0–100 score per symbol combining three components:

Component	Weight	How it's calculated
Technical	20 pts	Based on RRG quadrant position: 🟢 Leading = 20 pts · 🔵 Improving = 15 pts · 🟡 Weakening = 10 pts · 🔴 Lagging = 0 pts (upgrade in progress)
Smart Money	0–30 pts	Institution count score + rank bonus (top-5 in SMU = extra points)
Market Sentiment	0–30 pts	VIX/VIX3M ratio SMA10 — Risk-On market = up to 30 pts
Total	0–100	≥71 Strong 41–70 Moderate ≤40 Weak

💡 Note: The current maximum MCS is ~59 during Risk-Off markets (VIX/VIX3M SMA10 < 1.0). Green badges (≥71) appear when the market shifts to Risk-On. Hover any MCS badge to see the score breakdown.

Market Sentiment — VIX Strip

Below the 13F Filing Chart you'll find the VIX Sentiment strip — a colored bar showing the current market fear level based on the VIX/VIX3M ratio.

🟢 Risk-On (Green)

The VIX/VIX3M SMA10 ratio is ≥ 1.0 — short-term volatility is elevated relative to medium-term, suggesting the market is in a relatively calm, risk-tolerant state. Historically a more favorable environment for momentum and growth stocks.

🔴 Risk-Off (Red)

The VIX/VIX3M SMA10 ratio is < 1.0 — short-term fear is lower than medium-term expectations, which can signal elevated uncertainty ahead. Institutions may be more cautious. Consider tighter risk management.

💡 Contrarian note: A deeply red (Risk-Off) strip combined with heavy institutional accumulation in the Filing Chart is actually a strong contrarian buy signal — institutions were buying into the panic. Warren Buffett's famous quote applies here: "Be greedy when others are fearful."

💡 How it's calculated: The strip uses a 10-day simple moving average (SMA10) of the daily VIX/VIX3M ratio — the same calculation used by the TrendPredictor VIX Strategy. This smooths out daily noise and gives a more stable signal than the raw ratio.

Step-by-Step Workflow

Open the page — SMU loads automatically
Sort SMU by "Count" to find the most widely held stocks
Sort by "MCS" to surface the strongest combined signal
Click a symbol in SMU — it loads into the Filing Chart automatically
Review the Filing Chart — when did institutions buy/sell?
Check Post-Filing Performance — has the move already been priced in?
Compare against your Watchlist in the WvSM section
Check QoQ Trend — is the symbol in "NEW Positions"? That's the strongest signal.
Check the RRG — is the symbol's sector in 🔵 Improving or 🟢 Leading? That confirms institutional tailwind behind your idea.
Check the SRM Signal — is the broader market Risk-On? If yes, offensive sectors get extra confirmation weight.

Limitations & Important Notes

⚠️ Know Before You Use

~45 day delay — this is NOT real-time trade data. Institutions may have changed their positions since the filing date.
Options filtered out — PUT/CALL contracts are excluded. Only equity holdings are shown.
Multi-class shares aggregated — GOOGL Class A and Class C are combined into one GOOGL row.
Berkshire Hathaway reports separately from Warren Buffett's personal holdings.
Institutions make mistakes too — "smart money" is a guide, not a guarantee.

Tips & Tricks

💡 Combine with Strategy Tester: Take the top-10 MCS symbols from SMU and run your strategy against them in the Strategy Performance Lab for backtested validation.

💡 VIX + Filing Chart: If institutions increased a position during a high-VIX period (visible on the chart), that's an extra-strong conviction signal — they bought into the panic.

💡 Strongest signal: QoQ NEW position + high MCS score = the most powerful combined buy signal available in Institutional Intelligence.

💡 Watchlist validation: If your watchlist stock doesn't appear in SMU, the top 5 institutions are avoiding it. Not a dealbreaker, but worth investigating why.