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
Five Shades of Conviction: How $750B in Wealth Managers Diverge on Tech, Industrials, and Concentration
Wick, Mengis, Nuveen, Amundi, and Stenger Family Office all filed large Q4 2025 books, but they used very different structures to express risk.
- Research
Mega-Cap Tech Is Everybody's Core, but the Weights Range From 16.9% to 51.2%
Vanguard, FMR, Morgan Stanley, and Banque Transatlantique all treat mega-cap tech as core exposure in Q4 2025, but the concentration levels are nowhere near the same.
- Research
Ovata's 12.1% Options Sleeve Shows What Most ETF Allocators Are Not Doing in Q4 2025
Ovata Capital used listed options and concentrated thematic exposures in Q4 2025, a sharp contrast with ETF allocators like SHP Wealth, TD Capital, and Bank of Hawaii.
- Research
Semiconductor Conviction Spectrum: From Oak Grove's 50% Bet to Mariner's Measured Exposure
Four institutional investors reveal divergent semiconductor strategies in Q4 2025: Oak Grove Capital's concentrated 50.2% conviction play versus Mariner's balanced 10% allocation and conservative positions from NWF and TD Capital.
- Research
SHP, TD Capital, and Bank of Hawaii Show How ETF Allocators Split Between 39% and 51% Top-Five Concentration
Three Q4 2025 filings show the same ETF label can mean very different things: SHP runs a concentrated model core, TD balances broad beta with bonds, and Bank of Hawaii leans global.
- Research
Avoro Capital's Biotech Conviction Play: $10.2B Concentrated Bet on Healthcare Innovation
Avoro Capital Advisors manages $10.2B with 34 holdings focused exclusively on biotech and healthcare. The fund's concentrated portfolio—with top-5 holdings representing 48.7% of AUM—reflects deep conviction in transformative therapies.
- Research
Aristides Capital's High-Conviction Portfolio: $565M with 77.5 WhaleScore
Aristides Capital LLC's Q4 2025 filing reveals a disciplined $565.4M portfolio across 273 holdings with a WhaleScore of 77.50. The fund demonstrates institutional-grade conviction in a diversified small/mid-cap strategy balancing growth exposure with risk management.
- Research
World Investment Advisors: $6.16B Platform Diversified Across 1,468 Holdings
A deep dive into World Investment Advisors' diversified investment platform managing $6.16B across 1,468 holdings, with core positions in mega-cap tech and broad index exposure.
- Research
Tempo Wealth's Q4 2025 Filing Put Parker-Hannifin at the Center of an Advisor Mix Built With ETFs
Tempo Wealth reported a one-quarter Q4 2025 book led by Parker-Hannifin and Progressive, but the surrounding structure was unmistakably ETF-driven.
- Research
Integrated Investment Consultants Built a Style-Box ETF Core With a UWM Outlier in Q4 2025
Integrated Investment Consultants reported a Q4 2025 filing dominated by style-box ETFs, with UWMC standing out as the largest non-ETF exception.
- Research
Auto-Owners Insurance Co.'s Q4 2025 Filing Rebuilt Into a Five-ETF Reset After a Sharp Q3 Contraction
Auto-Owners came out of a thin Q3 book with a Q4 2025 filing dominated by five ETFs that together made up nearly half the reported portfolio.
- Research
PLATINUM PARAMOUNT INVESTMENT LTD.'s Q4 2025 Filing Is a Two-Stock Bet on On Holding and Restaurant Brands
Platinum Paramount reported only two Q4 2025 positions, with 65.2% in On Holding AG and 34.8% in Restaurant Brands.
- Research
TD Capital Management LLC's Q4 2025 Filing Still Put 39.0% Into Five Mega-Cap Names
TD Capital Management LLC looked diversified on the surface in Q4 2025, but ITOT, VTI, BSV still anchored the real risk budget. The top five positions reached 39.0% of reported value across 500 fetched lines.
- Research
BANK OF HAWAII's Q4 2025 Filing Still Put 39.6% Into Five Mega-Cap Names
BANK OF HAWAII looked diversified on the surface in Q4 2025, but VEA, VUG, IVV still anchored the real risk budget. The top five positions reached 39.6% of reported value across 226 fetched lines.
- Research
Rehmann Capital Advisory Group's Q4 2025 Filing Built a 25.7% Top-Five Ladder Around IVE and IVW
Rehmann Capital Advisory Group looked diversified on the surface in Q4 2025, but IVE, IVW, IEFA still anchored the real risk budget. The top five positions reached 25.7% of reported value across 500 fetched lines.
- Research
Groupama's Q4 2025 Filing Kept a U.S. Mega-Cap Spine Inside a 437-Line Global Book
Groupama looked diversified on the surface in Q4 2025, but the portfolio's real backbone still ran through U.S. software, semis, and money-center finance.
- Research
BSN Capital's Q4 2025 Filing Put 21.8% Into Nvidia and Built a 41-Line Concentration Machine
BSN Capital did not hide its hierarchy in Q4 2025: Nvidia dominated the book, and the supporting cast still left the portfolio looking intentionally concentrated.
- Research
Banque Transatlantique's Q4 2025 Portfolio Put 33.5% Into Three Names and Still Called It Diversified
Banque Transatlantique reported 278 positions in Q4 2025, but Microsoft, Nvidia, and Amazon still formed a decisive top-of-book ladder.
- Research
Employees Provident Fund Board Built a 73-Line Q4 2025 Book Around Nvidia and Microsoft
Malaysia's Employees Provident Fund Board kept its U.S. book relatively compact in Q4 2025, with Nvidia and Microsoft doing most of the heavy lifting.
- Research
HSBC's Q4 2025 Filing Still Ran Through Nvidia and Microsoft Across 11,612 Reported Holdings
HSBC reported one of the market's broadest Q4 2025 books, but the top of that book still concentrated heavily in the same U.S. platform names leading the global tape.