Decision Timeline

MCO, decision by decision.

Not just who owns it now. This is the sequence of material choices managers reported, when each choice became visible, and the observed result after disclosure.

Material decisions: 23
Buy / add: 8
Trim / exit: 15

The cohort disagreed in Q2 2026.

At least one tracked manager bought or added while another trimmed or exited. The disagreement is the signal; it is not collapsed into a consensus score.

Eight-quarter evidence

8 reported quarters

Q2 2026
filed Aug 17, 2026
48d lag
TRIM-64.9%
AltaRock Partners · 9.1% of reported portfolio
Original SEC filing ↗
-9.7% vs SPY
33 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 14, 2026
45d lag
EXITEXIT
Li Lu · 1.6% of reported portfolio
Original SEC filing ↗
-7.4% vs SPY
34 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 13, 2026
44d lag
NEWNEW
Bryan Lawrence · 5.7% of reported portfolio
Original SEC filing ↗
-8.4% vs SPY
35 sessions after disclosure
direction not supported so far
Q2 2026
filed Jul 29, 2026
29d lag
TRIM-95.4%
William Von Mueffling · 1.1% of reported portfolio
Original SEC filing ↗
-12.3% vs SPY
46 sessions after disclosure
direction supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-30.6%
AKO Capital · 5.7% of reported portfolio
Original SEC filing ↗
+3.0% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
NEWNEW
Li Lu · 1.6% of reported portfolio
Original SEC filing ↗
+3.0% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 15, 2026
45d lag
TRIM-72.4%
Joel Greenblatt · 0.1% of reported portfolio
Original SEC filing ↗
+3.0% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 14, 2026
44d lag
TRIM-28.2%
Chuck Akre · 9.7% of reported portfolio
Original SEC filing ↗
+8.0% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2026
filed May 13, 2026
43d lag
ADD+99.8%
John Armitage · 7.5% of reported portfolio
Original SEC filing ↗
+8.9% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 17, 2026
48d lag
TRIM-66.5%
Joel Greenblatt · 0.3% of reported portfolio
Original SEC filing ↗
-9.1% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 13, 2026
44d lag
TRIM-74.6%
Francis Chou · 1.4% of reported portfolio
Original SEC filing ↗
-6.7% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 11, 2026
42d lag
NEWNEW
John Armitage · 4.3% of reported portfolio
Original SEC filing ↗
-3.4% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 14, 2025
45d lag
EXITEXIT
Triple Frond Partners · 4.8% of reported portfolio
Original SEC filing ↗
-7.7% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 14, 2025
45d lag
ADD+215.4%
Joel Greenblatt · 0.3% of reported portfolio
Original SEC filing ↗
-7.7% vs SPY
63 sessions after disclosure
direction not supported so far
Q2 2025
filed Aug 14, 2025
45d lag
ADD+332.8%
Joel Greenblatt · 0.1% of reported portfolio
Original SEC filing ↗
-11.5% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
TRIM-89.5%
Joel Greenblatt · 0.3% of reported portfolio
Original SEC filing ↗
-2.8% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 14, 2025
44d lag
TRIM-21.9%
Triple Frond Partners · 6.4% of reported portfolio
Original SEC filing ↗
-2.4% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 14, 2025
44d lag
ADD+26.5%
AKO Capital · 5.0% of reported portfolio
Original SEC filing ↗
-2.4% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 13, 2025
43d lag
TRIM-20.9%
Chuck Akre · 12.6% of reported portfolio
Original SEC filing ↗
-1.1% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2024
filed Feb 14, 2025
45d lag
ADD+582.1%
Joel Greenblatt · 0.3% of reported portfolio
Original SEC filing ↗
-3.0% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 14, 2024
45d lag
TRIM-91.7%
Bill Nygren · 0.2% of reported portfolio
Original SEC filing ↗
+4.9% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 13, 2024
44d lag
TRIM-20.3%
Chuck Akre · 15.6% of reported portfolio
Original SEC filing ↗
+4.6% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2024
filed Nov 13, 2024
44d lag
TRIM-28.1%
Triple Frond Partners · 7.4% of reported portfolio
Original SEC filing ↗
+4.6% vs SPY
63 sessions after disclosure
direction not supported so far

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Material means a new or exited position, or at least a 20% share-count change, with at least 0.5% portfolio weight or $100 million reported value. Share counts are adjusted for confirmed splits. Outcomes start after disclosure, not at an invented trade date, and are not manager returns.