What do added, trimmed, and sold out mean?
These words describe how a fund's holding in a stock changed from one quarter to the next. New means it did not own the stock before, added means it bought more shares, trimmed means it sold some, and sold out means it sold them all.
The four changes
New position: the fund bought a stock it did not hold last quarter. Added: it already owned the stock and bought more shares. Trimmed: it sold part of its holding. Sold out: it sold every share, so the stock is gone from the next filing.
Shares, not dollars
Changes are measured in number of shares. The dollar value of a holding also moves with the stock price, so it can grow in value even if the fund sold shares, or shrink in value even if it bought more.
Stock splits
When a company splits its stock, every holder suddenly has more shares at a lower price, with the same total value. Stockslash adjusts for known splits so a 2 for 1 split is not mistaken for the fund doubling its position.
How much it matters
A small add to a tiny position says little. A large add, a brand new position, or a full exit from a big holding tells you more about what the manager thinks.
Frequently asked questions
What does it mean when a fund trims a position?
It sold some of its shares but still owns the stock.
Does a bigger dollar value mean the fund bought more?
Not always. Dollar values move with the share price. Compare share counts to see whether the fund actually bought or sold.