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

Forward-tested across millions of institutional positions, double-down moves backed by high conviction scores have historically delivered above-average forward returns. See the Conviction Backtesting page for the empirical breakdown by band.

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.

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