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
Mengis Capital Added 139 New Positions in Q4 2025 but Still Built the Book Around Apple and Microsoft
Mengis Capital's filing changed shape dramatically in Q4 2025. Even so, the rebuilt portfolio still chose Apple, Microsoft, Alphabet, JPMorgan, and Chevron as its opening statement.
- Research
Wick Capital's Q4 2025 Filing Puts 23.4% Into ITOT and Builds a 46.1% Top-Five ETF Fortress
Wick Capital's Q4 2025 book is not a stock-picker's filing. ITOT, VTI, IVVB, IVV, and GBXA consume 46.1% of the portfolio, making allocation structure the real signal.
- Research
NWF Advisory's $904.9M Q4 Filing Puts Berkshire, XLK, and VOO at the Center While Micron Jumps Into the Core
NWF Advisory Services built a blended portfolio in Q4 2025: Berkshire for quality, XLK for tech beta, VOO and IVV for benchmark exposure, and a fast-rising Micron line for a more specific semiconductor view.
- Research
SHP Wealth Management's ETF Fortress: $1.29B Portfolio Built on VOO Dominance
SHP Wealth Management's $1.29B portfolio centers on a 27.4% VOO allocation, demonstrating a sophisticated ETF-first strategy with factor tilts and income overlays.
- Research
Anchor Investment Management Built Netflix 938% While Keeping a 300-Stock Core
Anchor Investment Management's Q4 2025 filing stayed diversified, but the growth sleeve changed meaningfully: Netflix rose 938%, ServiceNow jumped 453%, and QQQM expanded to $19.5B.
- Research
Oak Grove Capital's Semiconductor Conviction: Micron & NVIDIA Dominate $844M Portfolio
Oak Grove Capital concentrates 50.2% of its $844M portfolio in Micron and NVIDIA, signaling conviction in AI-driven semiconductor demand across the entire chip ecosystem.
- News
Alphabet Board Chairman John Hennessy Has Sold $64M in GOOG Stock — A Decade of Systematic Exits
The Stanford president emeritus and MIPS architect who shaped modern computing has been steadily divesting his Alphabet position since 2004, with 5,684 transactions totaling $64.4M in career sales.
- News
Atlassian Co-Founders Scott Farquhar and Mike Cannon-Brookes Sell $2.5B in Coordinated Liquidation
Both co-founders of Atlassian executed synchronized stock sales on the same day, unloading over $500M each in TEAM shares while retaining significant stakes as 10% owners.
- News
Netflix CFO Spencer Neumann Sells $5.5M in Shares Under Pre-Scheduled 10b5-1 Plan
Netflix CFO Spencer Neumann sold 57,260 shares for $5.47 million on February 27, 2026, executing a pre-scheduled trading plan adopted in October 2025. The sales came after Netflix's strong Q4 earnings beat and stock surge.
- Research
AQR Capital’s Q4 2025 Filing: 16,900+ Positions and the Momentum Machine in Full Swing
Cliff Asness’s AQR Capital disclosed $190.6B across 16,934 holdings in its Q4 2025 13F—one of the broadest institutional books in the market. Massive momentum-driven adds in NOW (+953%), NFLX (+691%), and CMG (+342%) reveal a factor engine firing on all cylinders.
- Research
T. Rowe Price Q4 2025: 4,500 Positions, One Massive Netflix Bet
T. Rowe Price’s Q4 2025 13F reveals a +686% surge in Netflix shares alongside a sprawling 4,500-position book. We break down the conviction moves hiding inside one of America’s largest active managers.
- Research
Millennium Management Q4 2025: Izzy Englander’s Multi-Pod Giant Reveals Equity Rotation Patterns
Millennium Management’s Q4 2025 13F filing shows $237.8M in public equity holdings — a tiny slice of the firm’s $60B+ AUM — with 145 new positions and 145 exits reflecting the multi-pod hedge fund’s rapid-fire rotation strategy.
- Research
Two Sigma’s Q4 2025 Sector Rotation: Dumping Financials, Loading Tech and Biotech ETFs
Two Sigma Investments executed a massive sector rotation in Q4 2025, exiting $583M in financials while building $403M positions in tech ETFs. With 168 new positions and 168 exits, the quant fund’s algorithmic signals point to a decisive shift.
- Research
Vanguard's $6.9 Trillion Q4 2025 Filing: 17,686 Positions and the Index Giant That Owns 6% of Everything
Vanguard Group's Q4 2025 13F reveals $6.9 trillion across 17,686 positions with NVDA at 6.1%, AAPL at 5.6%, and MSFT at 5.0% — a near-perfect mirror of market-cap weighting that grew 3.3% QoQ.
- Research
Wellington Management's $571B Q4 2025 Filing Hides a Healthcare Conviction Bet Beneath the Mega-Cap Surface
Wellington Management held $570.7B across 1,878 positions in Q4 2025. Eli Lilly and Merck sit at #7 and #8, giving healthcare a 4.1% share of the top-12 — unusual for a fund this size.
- Research
Invesco Q4 2025 Portfolio Analysis: The QQQ Parent’s $652B 13F Book Extends a 76% Two-Year Climb
Invesco’s Q4 2025 13F shows a $652.20B disclosed portfolio led by NVIDIA, Microsoft, and Apple, but the bigger story is a broad book that has grown 76% since Q3 2023.
- Research
Citadel’s $666B Q4 Filing: Griffin Swapped a $43B QQQ CUSIP for a $36B Replacement While Ramping NFLX 1,598%
Citadel Advisors hit $666B in Q4 2025, up from $657B. The headline move: exiting a $43B QQQ position under CUSIP 04609e107 and opening a $36B replacement under 46090E103, while simultaneously ramping Netflix shares from 5.6M to 95.1M.
- Research
Susquehanna’s $868B Options Book Added Gold and Ramped Netflix 857% in Q4 2025
Susquehanna International Group’s Q4 2025 13F reveals an $868B portfolio dominated by put-hedged ETF positions, with a massive 857% increase in Netflix shares and new gold exposure via AGQ, IAU, and Royal Gold.
- Research
LPL Financial's $366B Q4 2025 Filing: The Advisor Aggregator That Grew 63% in Six Quarters
LPL Financial's 13F grew from $224B to $366B in six quarters — a 63% surge. With 5,869 positions led by index ETFs, LPL's filing is a proxy for independent advisor sentiment.
- Research
AllianceBernstein's $317B Q4 2025 Filing: 3,258 Positions and a Flat Quarter That Tells Its Own Story
AllianceBernstein held $317B across 3,258 positions in Q4 2025 — essentially unchanged from Q3. Nvidia, Microsoft, and Apple anchor the top, but the portfolio barely moved.