Marcus Chen
Senior Market Analyst
Senior Market Analyst at 13F Insight. Covers institutional portfolio strategy, 13F filings, and smart money trends.
A note from Marcus
Hi, I'm Marcus. I spent six years on the buy side staring at 13F filings for a hedge fund, and the thing that bothered me most wasn't the work — it was knowing that the average investor never gets to see what I was looking at, even though it's all public.
That's why I'm here. Every research piece you'll see under my name comes from real SEC data, run through real institutional logic, and translated into something you can actually act on. I write long when the data deserves it and short when it doesn't.
If you ever spot a number that looks off, email me. I'd rather be corrected than wrong.
Articles by Marcus Chen (311)
- Research
Fisher Asset Management Q4 2025: $292.99B AUM With IEF as #3 Holding
Fisher Asset Management reported $292.99B in Q4 2025 13F AUM, combining mega-cap equities with a large IEF allocation.
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Barclays Q4 2025: $416.70B AUM With SPY at 18.7%
Barclays reported $416.70B in Q4 2025 13F AUM, with SPY alone at 18.7% and top-five concentration near 35%.
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Geode Capital Q4 2025: $1.62T AUM With 27.0% in Top Five Holdings
Geode Capital reported $1.62T in Q4 2025 13F AUM, with NVDA, AAPL, and MSFT leading a 27.0% top-five concentration profile.
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Morgan Stanley’s Q4 2025 13F: The Most Diversified Mega-Filer, With AAPL Still Ahead of NVDA
Morgan Stanley reported $1.67T in Q4 2025 13F AUM with just 18.8% in its top five holdings, highlighting one of the broadest mega-filer books while still keeping AAPL ahead of NVDA.
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FMR LLC's Q4 2025 13F: The Most Concentrated NVDA Bet Among Mega-Filers
FMR LLC closed 2025Q4 with $1.96T in reported 13F AUM, 500 positions, and a 10.29% stake in NVDA ($181.10B), the sharpest single-stock concentration among mega-filers.
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BlackRock’s Q4 2025 13F: A $5.92T Empire Led by NVDA, with IVV Inside the Top 15
BlackRock reported $5.92T in 13F AUM for 2025Q4 across 500 positions, with NVDA as the top holding at $362.80B (7.13%). The top five positions account for 25.1%, while IVV appears as the firm’s #13 position, highlighting its ETF ecosystem scale.
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State Street’s Q4 2025 13F at $2.98T: Custodian Scale Meets Steady Compounding
STATE STREET CORP reported $2.98T in Q4 2025 13F AUM with 500 positions. The filing shows a 65% rise from $1.80T in 2023Q3, led by mega-cap exposures and a top-5 concentration of 24.3%.
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Vanguard's Q4 2025 13F: World's Largest Manager Reaches $6.90T With NVDA as Top Holding
Vanguard Group's Q4 2025 13F shows $6.90T in reported AUM, 500 positions, and NVDA as its largest disclosed position at 6.92% ($422.74B).
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UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's $472.97B 2025Q4 Build Opened 38 New Positions
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reported $472.97B for 2025Q4, with NVDA at 8.13% and top-5 concentration at 27.42%.
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Diesslin Group, Inc.'s $251.64M 2025Q4 Filing Prints a 66.61% Top-5 Cluster
Diesslin Group, Inc. reported $251.64M for 2025Q4, with BRK/B at 23.93% and top-5 concentration at 66.61%.
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BANK OF MONTREAL /CAN/'s $288.73B 2025Q4 Build Opened 78 New Positions
BANK OF MONTREAL /CAN/ reported $288.73B for 2025Q4, with NVDA at 5.02% and top-5 concentration at 18.22%.
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ENVESTNET ASSET MANAGEMENT INC's $337.09B 2025Q4 Build Opened 33 New Positions
ENVESTNET ASSET MANAGEMENT INC reported $337.09B for 2025Q4, with IVV at 6.17% and top-5 concentration at 14.27%.
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Inside National Pension Service's $135.07B 2025Q4 Portfolio: What the Latest Filing Says
National Pension Service reported $135.07B for 2025Q4, with NVDA at 6.92% and top-5 concentration at 24.48%.
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FIRST TRUST ADVISORS LP's $137.60B 2025Q4 Build Opened 51 New Positions
FIRST TRUST ADVISORS LP reported $137.60B for 2025Q4, with CSCO at 1.72% and top-5 concentration at 7.55%.
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Creative Planning's $139.71B 2025Q4 Build Opened 38 New Positions
Creative Planning reported $139.71B for 2025Q4, with IVV at 11.94% and top-5 concentration at 32.71%.
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Inside Mitsubishi UFJ Asset Management Co., Ltd.'s $147.50B 2025Q4 Portfolio: What the Latest Filing Says
Mitsubishi UFJ Asset Management Co., Ltd. reported $147.50B for 2025Q4, with NVDA at 6.85% and top-5 concentration at 25.68%.
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Inside JONES FINANCIAL COMPANIES LLLP's $164.02B 2025Q4 Portfolio: What the Latest Filing Says
JONES FINANCIAL COMPANIES LLLP reported $164.02B for 2025Q4, with VUG at 11.91% and top-5 concentration at 40.43%.
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Pantera Capital Partners LP's $164.21M 2025Q4 Filing Is a 15-Position Bet: FIGR at 38.37%
Pantera Capital Partners LP reported $164.21M for 2025Q4, with FIGR at 38.37% and top-5 concentration at 89.93%.
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Inside Sumitomo Mitsui Trust Group, Inc.'s $170.27B 2025Q4 Portfolio: What the Latest Filing Says
Sumitomo Mitsui Trust Group, Inc. reported $170.27B for 2025Q4, with NVDA at 7.17% and top-5 concentration at 24.74%.
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PRINCIPAL FINANCIAL GROUP INC's $195.86B 2025Q4 Build Opened 40 New Positions
PRINCIPAL FINANCIAL GROUP INC reported $195.86B for 2025Q4, with NVDA at 4.11% and top-5 concentration at 16.05%.