Updated Jun 2, 2026 · 2142 articles
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Soft dollars are an old, quietly controversial way institutional managers pay for research with their clients' trading commissions instead of their own cash. Here is how the arrangement works and why it shapes the funds behind every 13F.
Preferred stock sits between bonds and common shares, and some of it shows up in 13F filings while some does not. Here is how preferred appears in institutional holdings and why it can change what a fund's filing really means.
Sarah MitchellA 13F is a 45-day-old snapshot taken once a quarter, so any position a fund opens and closes within those three months is invisible. Here is what institutional filings miss, and how to read around it.
Sarah MitchellPolaris Capital Management's $1.22 billion 13F spreads across 84 global value names — led by Puerto Rico's Popular Inc, Irish-domiciled Jazz and Linde, and a fresh stake in Eastman Chemical — a study in diversified, contrarian deep value.
Marcus ChenTweedy, Browne's $1.24 billion U.S. 13F pairs two outsized convictions — Ionis Pharmaceuticals and a fast-growing CNH Industrial stake — with a deep bench of global value names led by Coca-Cola FEMSA and Berkshire Hathaway.
Marcus ChenEdgar Wachenheim's Greenhaven Associates runs $6.07 billion across just 27 positions, with roughly 46% concentrated in four homebuilders and General Motors as its single largest holding. A look at one of the most concentrated value portfolios in the 13F universe.
Marcus ChenMonolithic Power founder-CEO Michael Hsing sold 40,000 shares for about $59 million in a single May 2026 session as the AI power-chip maker traded near record highs above $1,500.
Alex RiveraMorningstar founder Joe Mansueto sold 100,000 shares for about $17 million in May 2026 on a steady 7,250-share daily cadence, yet still controls more than a third of the company he built.
Alex RiveraCoreWeave co-founder Brannin McBee sold roughly $107 million of stock in April 2026 as the IPO lockup unwound, but his own Schedule 13G shows he still controls 16.5 million shares.
Alex RiveraCrowdStrike founder George Kurtz sold 52,510 shares for about $29 million in May 2026, draining roughly 2,500 shares into nearly every session as CRWD ran to an all-time high of $731 days before Q1 FY27 earnings.
Alex RiveraMost hedge funds pool money from several feeder funds into one master fund that does all the trading. That master is usually what files the 13F, which is why one filing can represent onshore, offshore, and tax-exempt capital at once.
Sarah MitchellA tender offer is a direct bid to buy shares from investors at a premium, often the first step in taking a company private and erasing it from the 13F data you track.
Sarah MitchellA wolf pack is a loose swarm of activist investors who build stakes in the same target at the same time, concentrating pressure on a board without formally acting as a group that SEC rules would force to file jointly.
Sarah MitchellThe classic 2-and-20 fee, the carried interest that makes managers rich, the high-water mark that protects investors, and the hurdle rate few funds use — explained for anyone reading 13F data.
Sarah MitchellA poison pill, or shareholder rights plan, lets a board make a hostile takeover prohibitively expensive by flooding the market with discounted shares the moment a buyer crosses a set ownership threshold.
Sarah MitchellDan Loeb's Third Point shrank its reported U.S. equity book from $7.27 billion to $2.08 billion in Q1 2026, a 71.4% reduction, trimming nearly every position and concentrating 19.4% of the portfolio into Amazon.
Marcus ChenLi Lu's Himalaya Capital ran nearly 45% of its $3.20B 13F portfolio in Alphabet in Q1 2026, kept its top five names at 82% of assets, cut Bank of America 71%, and opened new stakes in Tencent Music and S&P Global.
Marcus ChenApple board chairman Arthur Levinson sold 50,000 AAPL shares at a record-high $311.02 on May 27, 2026 and gifted another 65,000 shares the same day, weeks before WWDC 2026 — while still holding roughly 7.9 million shares.
Alex RiveraMicrochip co-founder and CEO Steve Sanghi sold 416,581 MCHP shares for about $36.9 million on April 23, 2026 — roughly two weeks before the chipmaker reported a 35% year-over-year revenue jump — while keeping a stake of about 9.5 million shares.
Alex RiveraCloudflare President Michelle Zatlyn exercised 25,641 options and sold the matching block for roughly $5.4 million on May 27, 2026 — one day before NET jumped 8% — while retaining about 1.36 million shares through derivative holdings.
Alex Rivera