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 (542)
- Research
Renaissance Technologies Q4 2025: The $64B Quant Giant's Palantir Conviction
Inside Renaissance Technologies' massively dispersed Q4 2025 13F, highlighting their surprising $1.56B top position in Palantir.
- Research
Third Point Q4 2025: Dan Loeb Balances PG&E Activism with NVIDIA Growth
Analyzing Dan Loeb's $7.27 billion 13F for Q4 2025, where distressed utility PG&E shares the top spot with AI leader NVIDIA.
- Learn
Understanding Institutional Cash-to-Equity Shifts Through the 13F Lens
When a fund’s reported 13F value falls during a rising market, something important may be happening outside the visible equity book. Here is how to read that signal.
- Learn
Reading Between the Lines of 13F Amendments: What Revised Filings Reveal
An amended 13F is more than paperwork. It can reveal corrected positions, newly visible holdings, or a very different picture than the original filing suggested.
- Learn
How Window Dressing Distorts 13F Data — And How to Spot It
Quarter-end portfolio cleanup can make a 13F look smarter than the manager really was. Learn how to spot window dressing before you mistake cosmetic buying for conviction.
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Nomura’s New $19.23B SATS Position Dominated Its Q4 2025 13F
Nomura reported $75.14B in Q4 2025 13F AUM, but one new position — SATS 3.875 11/30/30 at $19.23B — accounted for 25.96% of the filing. That makes this a balance-sheet-style bank filing, not a plain-vanilla hedge fund portfolio.
- Research
Harris Associates’ $79.12B Q4 2025 13F Rebounded 26.8% as Oakmark Spread Value Across 167 Positions
Harris Associates reported $79.12B in Q4 2025 13F AUM, up 26.8% from Q3, while keeping top-five concentration at just 16.6% — a broad Oakmark-style value rebound rather than a single-theme bet.
- Research
Why CalSTRS Added $2.03B of IVV While Letting Nvidia Stay No. 1 in a $99.96B Q4 Book
California State Teachers Retirement System pushed its Q4 2025 13F AUM to $99.96B, kept mega-cap leaders at the core, and added a new $2.03B IVV position to reinforce large-cap beta.
- Research
PEAK6 LLC Q4 2025: The $107.52B Filing That Was Really an Options Book
PEAK6 LLC's Q4 2025 13F reported $107.52B of value, but roughly 97.5% of the disclosed book was puts, making the headline figure a poor proxy for true economic AUM.
- Research
DZ Bank's $9.74B Nvidia Position Recasts Its $115.79B 13F
DZ BANK AG Deutsche Zentral Genossenschafts Bank ended 2025Q4 with $115.79B in reported 13F AUM, led by a striking $9.74B NVIDIA stake and a top book dominated by U.S. mega-cap technology.
- Research
Clearbridge Investments' $6.24B Nvidia Stake Defines a $124.90B Q4 Reset
Clearbridge Investments closed 2025Q4 with $124.90B in reported 13F AUM, 500 positions, and a top disclosed book led by a new $6.24B Nvidia stake.
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TD Asset Management Q4 2025: Canadian Stability Meets the +730% Netflix Pivot
TD Asset Management's latest 13F features a robust $124 billion portfolio blending Canadian bank stability with an aggressive rotation into US tech, led by a 730% surge in Netflix shares.
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State Farm Mutual Q4 2025: The $127B Value Engine Driven by Eli Lilly and Caterpillar
State Farm's highly concentrated Q4 portfolio reveals massive conviction in Eli Lilly (10.5%) and Caterpillar (7.8%), showcasing a unique defensive value strategy.
- Research
Wolverine Trading Q4 2025: The $138B ETF-Led Strategy and Mega-Cap Conviction
Wolverine Trading's latest 13F reveals a highly concentrated $138.7 billion portfolio led by a massive $15.8 billion stake in the SPY ETF and significant bets on NVDA and TSLA.
- Research
Corient Private Wealth Q4 2025: A Stunning 133% AUM Surge and Massive Tech Conviction
Corient Private Wealth's portfolio expanded by over 133% in Q4 2025, driven by a hyper-aggressive pivot into Tesla (+3325% shares) and Netflix (+3776% shares).
- Learn
What Hedge Funds Bought and Sold in Q4 2025: The Biggest Moves
Q4 2025 13F filings are in. Here's what the smartest institutional money actually did last quarter — the big additions, the quiet exits, and the themes nobody is talking about.
- Research
Simplex Trading's $177.41B Q4 2025 13F Looks Like an Options Wall, Not a Stock Portfolio
Simplex Trading reported a $177.41B Q4 2025 13F, but the filing reads less like a stock portfolio and more like an options-heavy market-structure book. That distinction is the whole story.
- Research
Q1 2026 13F Filings Preview: What Smart Money Will Reveal
Q1 2026 13F filings are due May 15, 2026. Track Berkshire, Millennium, Bridgewater and more. See expected filing dates, AI/sector themes, and how to access data the moment it drops.
- Research
1832 Asset Management's $131B Q4 Portfolio: 114 New Positions and a 39% Internal Fund Anchor
Scotiabank's $131.31B investment arm entered 114 new positions in Q4 2025 while trimming its dominant internal fund by 25% — one of the most aggressive quarterly reshuffles among top-100 filers.
- Research
Schroders' $130B Q4 2025 Portfolio: GOOGL Overweight at 6% and a Deep-Value Rotation Signal
The 220-year-old London-based asset manager's US equity book reveals a distinctly European conviction — GOOGL as the #3 holding at 6.03%, plus aggressive adds in TEVA (+261%), CX (+406%), and new global commodity ETF positions.