Semiconductors went from 4.6% to 8.8% of the pooled book of 1,943 RIAs between December 2024 and June 2026. Rising chip prices and the index funds advisers already owned did almost all of it.
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Open the report (PDF) Save a copyIf your firm files a 13F, we'll run the same look-through on your holdings: how your chip weight changed, how much came from price, from the funds you own and from your own trades, and how you compare with firms your size.
Built from the public 13F filings of 1,943 registered investment advisers that filed every quarter from June 2024 to June 2026, with the ETFs and mutual funds they own looked through to their holdings on each date. Observational research, not investment advice.
StrataNova is a portfolio platform for RIAs and hedge funds. It maps every holding to its underlying revenue, scans every fund, and measures results against predetermined and customizable peers.
Sector schemes give each company one label. StrataNova splits every holding by where its revenue actually comes from, so a book that looks diversified by sector can turn out to be concentrated in a theme.
Every view runs on the same revenue map. Click through to see what a manager gets on their own book.
The rest of what is notable
Each portfolio gets a running briefing: earnings, score moves, gaps vs. peers, active bets and stress results, written in plain language and ready for a client or investor meeting.
The three largest holdings all beat, together 39.0% of the book. Largest miss sits at 5.5%.
Semiconductors & Chip Design at 0.7% while peers average 6.8%. Scores 4+ on momentum, quality and sentiment.
Media & Digital Content is the biggest active bet, at 3.3× the cohort.
A big-tech breakup is the worst scenario. 71% of the book sits in themes it touches.
Know your real exposure before a client asks
Direct positions and every fund are decomposed together, so hidden overlaps show up: the same theme quietly added by six different ETFs.
Benchmarked against managers your size, not just the S&P
Every theme is ranked against the RIA or hedge fund cohort in your AUM band (hedge funds can also narrow by strategy), so you can see where you run heavy or light and how unusual that is.
| Theme | Book | Cohort | Active | Pctl |
|---|---|---|---|---|
| Media & Digital Content | 14.1% | 5.1% | +9.1 | 99th |
| Medical Tech & Devices | 10.6% | 2.4% | +8.2 | 99th |
| Insurance & Risk | 7.1% | 3.1% | +4.1 | 97th |
| Semiconductors | 0.7% | 8.7% | −8.0 | 4th |
| Banks & Diversified Fin. | 0.4% | 3.4% | −2.9 | 6th |
Every scenario, sized by the revenue it touches
Twenty named events that hit several themes at once (12 hurt this book, 8 help it). Each holding contributes the share of its revenue in the affected themes, split into what lands immediately and what transmits later.
What the crowd is doing
Quarter-over-quarter flows across matched RIA and hedge fund filers: who is adding, who is exiting, and where early adoption or quiet accumulation is showing up before it is consensus. Manager Intelligence lets you screen 4,000+ firms by strategy, concentration and new positions.
| Holding | Held by peers | Increased | Decreased | Net flow |
|---|---|---|---|---|
| VOO | 77.0% | 34% | 14% | +19.9% |
| SCHX | 36.9% | 23% | 17% | +6.2% |
| SPYM | 35.5% | 46% | 16% | +29.7% |
| QQQM | 25.4% | 46% | 16% | +30.2% |
| RECS | 2.7% | 31% | 31% | +0.0% |
49 theme indexes, each with its own scorecard
Each theme is built from the companies that actually earn revenue in it, with its own performance, fundamentals, earnings-call read and institutional flow. Every stock and fund also gets a Strata Score.
A CSV or custodian export of each model or household. No integration project, no data feed to set up.
Every stock is split by revenue segment and every ETF and mutual fund is decomposed to what it holds.
Themes, scenarios and positions measured against your peer cohort and any benchmark or blend you choose. It updates as your holdings change, and the peer side refreshes as new filings land.
What moved the chip weight, quarter by quarter
Standing still would have meant selling half
One adviser, no chip trades
Hedge funds vs RIAs