Rank every 13F filer by skill. Funds are sorted by their historical Fama-French skill alpha — a backward-looking, risk-adjusted excess return, measured over each fund's own past, that isn't explained by market, size, value or momentum tilts — limited to those with at least 2 years of measured history. The raw “vs S&P” figure is shown alongside for context. Toggle the gate off to include newer funds, or re-sort by AUM, consistency, or name.
A caveat, in the spirit of our research: these figures are historical and in-sample. Across all 9,244 measured funds, significant underperformers outnumber outperformers nearly 9-to-1, and high past alpha rarely repeats out of sample — so read this as a descriptive lens, not a buy signal. See why fund skill doesn't persist.
9,244 funds with a Fama-French skill-alpha regression (p<0.05), grouped by how many quarters went into the fit. Each bar counts funds; the dashed tick is how many “winners” pure chance alone would produce.
At every track-record length the red (significantly bad) dwarfs the green (significantly good) — 886 losers vs 103 winners in all. And every green bar falls short of the dashed chance tick: fewer funds look skilled than pure luck would produce, and more history only widens the gap. That's why the ranking below is a descriptive lens, not a buy signal.
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