Decision Timeline

TMO, 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: 16
Buy / add: 9
Trim / exit: 7

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

5 reported quarters

Q2 2026
filed Sep 2, 2026
64d lag
TRIM-33.5%
Joel Greenblatt · 0.3% of reported portfolio
Original SEC filing ↗
+6.2% vs SPY
21 sessions after disclosure
direction not supported so far
Q2 2026
filed Aug 13, 2026
44d lag
ADD+11767.4%
Dodge & Cox Funds · 0.8% of reported portfolio
Original SEC filing ↗
+12.0% vs SPY
35 sessions after disclosure
direction supported so far
Q2 2026
filed Aug 12, 2026
43d lag
NEWNEW
Harry Burn · 2.6% of reported portfolio
Original SEC filing ↗
+10.8% vs SPY
36 sessions after disclosure
direction supported so far
Q2 2026
filed Jul 29, 2026
29d lag
EXITEXIT
William Von Mueffling · 2.5% of reported portfolio
Original SEC filing ↗
+9.6% vs SPY
46 sessions after disclosure
direction not supported so far
Q2 2026
filed Jul 15, 2026
15d lag
ADD+22.7%
David Katz · 1.1% of reported portfolio
Original SEC filing ↗
+17.9% vs SPY
56 sessions after disclosure
direction supported so far
Q2 2026
filed Jul 7, 2026
7d lag
EXITEXIT
Robert Olstein · 0.7% of reported portfolio
Original SEC filing ↗
+24.9% vs SPY
62 sessions after disclosure
direction not supported so far
Q1 2026
filed May 15, 2026
45d lag
ADD+110.3%
Viking Global Investors · 2.3% of reported portfolio
Original SEC filing ↗
+27.7% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2026
filed May 15, 2026
45d lag
ADD+25.2%
Joel Greenblatt · 0.3% of reported portfolio
Original SEC filing ↗
+27.7% vs SPY
63 sessions after disclosure
direction supported so far
Q4 2025
filed Feb 17, 2026
48d lag
NEWNEW
Viking Global Investors · 1.2% of reported portfolio
Original SEC filing ↗
-21.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q4 2025
filed Feb 17, 2026
48d lag
ADD+97.4%
Joel Greenblatt · 0.3% of reported portfolio
Original SEC filing ↗
-21.8% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 14, 2025
45d lag
TRIM-68.1%
Joel Greenblatt · 0.4% of reported portfolio
Original SEC filing ↗
-12.8% vs SPY
63 sessions after disclosure
direction supported so far
Q3 2025
filed Nov 13, 2025
44d lag
ADD+146.0%
First Pacific Advisors · 1.4% of reported portfolio
Original SEC filing ↗
-15.2% vs SPY
63 sessions after disclosure
direction not supported so far
Q3 2025
filed Nov 12, 2025
43d lag
TRIM-94.8%
Polen Capital Management · 2.7% of reported portfolio
Original SEC filing ↗
-14.7% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 15, 2025
45d lag
ADD+24.9%
Lindsell Train · 7.0% of reported portfolio
Original SEC filing ↗
+10.2% vs SPY
63 sessions after disclosure
direction supported so far
Q1 2025
filed May 15, 2025
45d lag
EXITEXIT
Daniel Loeb · 2.4% of reported portfolio
Original SEC filing ↗
+10.2% vs SPY
63 sessions after disclosure
direction not supported so far
Q1 2025
filed May 15, 2025
45d lag
TRIM-64.5%
Joel Greenblatt · 0.2% of reported portfolio
Original SEC filing ↗
+10.2% 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.