Why We Won't Show You a Copy of a Fund Manager's Book We Can't Price
A shadow book compares your portfolio with the disclosed holdings of managers you choose. If we cannot price enough of a manager's book, we will not build it, and now we tell you exactly which holdings are missing, price more of them every night, and let you build around a manager that falls short.
A shadow book blends the quarterly holdings that managers you choose report to the SEC, and puts the blend beside your own portfolio: how much you overlap, where you lean differently. The comparison is only honest if the blend is priced. A book where we can price 60% of the holdings is not that manager's book. It is a smaller, different portfolio wearing its name.
So we set a floor: at least 85% of each manager's book by value, priced today. Below it we refuse. We still think that is right. What was wrong was how the refusal looked: a message, and nothing you could do about it.
What a refusal looks like now
- Every manager in the book is listed, with the share of its holdings we can price, the quarter its filing covers and how many days ago it was filed.
- A manager below the floor names its largest holdings we cannot price yet.
- A manager with no filing for the latest quarter says so, instead of failing the page.
- Remove a manager from the book in one click; the rest are rescaled to 100%.
Fewer refusals to begin with
Most refusals came from holdings we simply did not price: companies nobody using Moneyta held, foreign companies whose identifiers our lookup missed, and share classes spelled with a slash. The largest holdings of every manager in a saved book, up to 95% of its value, are now priced every night, and the lookups that missed are fixed.
The builder now checks a book before you save it, using the same rule as the book itself, and manager search shows each manager's latest quarter and how much of it we can price today.
Told when it changes
Turn on alerts for a book and we tell you when it can be built again, when it can no longer be built, and when your portfolio moves ten points closer to or further from it. At most one note a night, and you can turn them off per book.
Frequently asked questions
What is a shadow book?
A Moneyta comparison between your portfolio and a blend of the stock holdings that fund managers you choose report to the SEC each quarter.
Why can't Moneyta build my shadow book?
A shadow book needs at least 85% of each manager's disclosed holdings, by value, to be priced today. The book names the holdings that are missing and lets you remove a manager that falls short.