Question 1

What is a double-down in 13F data?

Accepted Answer

A double-down is when an institutional investor increases an existing equity position while the stock's quarter-end price has fallen. HoldingsIntel surfaces these because they show value conviction: the fund's price target hasn't changed despite the market markdown.

Question 2

How is the Double-Down Score calculated?

Accepted Answer

Double-Down Score = shares_change_pct × |(prev_price − price) / prev_price × 100|. Higher scores combine a bigger position increase with a bigger price drop. The score only fires for INCREASED positions where price dropped quarter-over-quarter and shares grew more than 5%.

Question 3

Are double-downs predictive?

Accepted Answer

Double-downs mark funds adding to a stock while its price fell, a bet the fund chose to make bigger. Each one carries its Conviction Score, and the Conviction Backtesting page shows how the highest-scored buys have done against the S&P 500.

Question 4

How current is the double-down data?

Accepted Answer

Updated quarterly within 45 days of each calendar quarter end — the SEC 13F filing deadline. The latest fully-processed quarter is shown in the table header.


1 Freestone Grove Partners LP	KRMN Karman Holdings Inc.	45	-37.6%	+240.0Kx	$12M	0.1%
2 BNP Paribas Financial Markets	WDS Woodside Energy Group Limited	44	-19.1%	+325.4Kx	$6.3M	0.0%
3 Qube Research & Technologies Ltd	FXN FIRST TR EXCHANGE-TRADED FD	45	-9.7%	+599.5Kx	$12.1M	0.0%
4 Citigroup Inc.	UNCY Unicycive Therapeutics, Inc.	40	-28.7%	+182.7Kx	$856,647	0.0%
5 National Bank of Canada	FMC FMC Corporation	43	-32.8%	+150.3Kx	$3.5M	0.0%

Funds Buying Weakness

Funds Buying Weakness - Q2 2026 results