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
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.
- Research
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.
- Research
CalPERS Put $19.81B in a Single ETF: Inside America's Largest Pension Fund's Q4 2025 Concentration Play
CalPERS' latest 13F reveals $174.90B in reported AUM with VOO at 11.89% — nearly $20B in one S&P 500 ETF. Combined with NVDA at 8.55%, the top-2 holdings account for 20.44% of this pension giant's portfolio.
- Research
Millennium Management's $237.79B Q4 2025 13F: ETF-Heavy Hedging, WMT +679%, and a $1.83B Bitcoin Bet
Israel Englander's multi-strategy giant allocated $34.15B to broad ETFs (IWM, IVV, QQQ, SPY) — the signature of pod-based beta hedging — while making outsized bets on WMT (+679% shares) and Bitcoin via IBIT.
- Research
Arrowstreet Capital's $170B Quant Machine Cut Apple 38% and Doubled Google: Inside Q4 2025's Biggest Factor Rotation
Arrowstreet Capital's systematic models triggered one of Q4 2025's most aggressive Apple trims (-38% shares) while more than doubling Google. With 93 new positions and $170.74B in 13F assets, here's what the quant signals are saying.
- Research
MFS's $310B Shrinking Empire: America's Oldest Fund Dumps Growth Stalwarts, Loads Up on NFLX (+431%) and SNOW (+446%)
Massachusetts Financial Services has seen AUM decline from $334B to $310B over 8 quarters — yet the 100-year-old fund is making its most aggressive portfolio rotation in years, slashing DXCM (-86%), TEAM (-80%), and VEEV (-78%) while piling into streaming and cloud.
- Research
UBS AM Q4 2025: $472B Giant Pushes NVDA to 8.13% — Highest Among Top-20 Global Filers
UBS Asset Management's $472.97B portfolio reveals aggressive mega-cap tech concentration with NVDA at 8.13% weight, a $2.2B real estate exit from PLD and EQIX, and a staggering +1,064% increase in Netflix shares.
- Research
Janus Henderson's $223B Portfolio Churned 134 Positions in Q4 2025: Inside the Biotech Pivot
Janus Henderson (WhaleScore 75.50) opened 67 new positions while exiting 67 in Q4 2025 — a 13.4% turnover rate signaling active repositioning. New biotech/med-device bets (ISRG, GPCR, PTGX) hint at a healthcare conviction thesis.
- Research
Deutsche Bank's $307B US Equity Book: Trimming Big Tech Winners, Loading NFLX +968%
Deutsche Bank AG's Q4 2025 13F reveals a systematic rebalancing at $307B AUM — cutting GOOGL (-14%), META (-11%), and AVGO (-10%) while loading Netflix shares by 968% and ServiceNow by 386%.
- Research
IMC-Chicago Q4 2025: $275.42B With 84 New Positions and a Derivatives-Led Core
IMC-Chicago filed a $275.42B Q4 2025 13F showing 84 new positions, 84 exits, and a book dominated by ETF, index, and derivative-style exposures.
- Research
CTC LLC Q4 2025: Inside a $204.89B Options Market Maker's 13F Filing
CTC LLC filed Q4 2025 with $204.89B in reported 13F value. But CTC is a Chicago-based options market maker — its holdings reflect hedging and trading inventory, not traditional investment conviction.
- Research
AQR Capital Management Q4 2025: $190.63B After a 21.2% Jump and 69 New Positions
AQR Capital Management ended Q4 2025 with a $190.63B 13F, a 21.2% quarter-over-quarter jump in visible holdings value, and 69 new positions.
- Research
MUFG Financial Group Q4 2025: $66.94B 13F Book in a Single Position
MITSUBISHI UFJ FINANCIAL GROUP disclosed a one-line Q4 2025 13F portfolio worth $66.94B, fully allocated to MS.