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Plain-language definitions of the finance terms used across Smart Money.
13F filing
A report large investment managers must file with the SEC every quarter, listing the US stocks they hold.
AUM
Assets under management — the total value of investments a manager oversees.
Sharpe ratio
A measure of return earned for the risk taken. Higher is generally better.
Turnover
How much of the portfolio was bought or sold during the quarter. High turnover means lots of trading.
Consensus holdings
Stocks that several of the tracked investors own at the same time.
Top 10 weight
The share of the portfolio held in its ten largest positions. High means concentrated.
Beta
How much a stock tends to move relative to the overall market. 1 means it moves with the market.
P/E ratio
Price-to-earnings — the share price divided by earnings per share. A rough gauge of how expensive a stock is.
Forward P/E
A P/E ratio based on expected future earnings instead of past earnings.
Dividend yield
Annual dividends paid as a percentage of the share price.
Sector allocation
How the portfolio is split across industries such as technology, energy, or healthcare.
Position
A single investment in one stock that the investor holds.
Weight
How big one holding is as a percentage of the whole portfolio.
Quarter
A three-month reporting period (Q1–Q4). 13F data is reported quarterly.
Market cap
A company's total stock-market value (share price × number of shares).
Theme
A group of stocks tied to one trend, such as semiconductors or AI.