Updated May 23, 2026 · 2142 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Why Active Funds Hold S&P 500 and Nasdaq ETFs
Why would a stock-picker own the index it's trying to beat? Index ETFs in active 13Fs are usually beta sleeves or cash management. Here's how to read them.
Sarah MitchellWhat a 13F Does Not Show: The Blind Spots
A 13F is only a slice of a fund's portfolio. It hides shorts, cash, bonds, and foreign holdings. Here's what 13F filings leave out — and how to read them anyway.
Sarah MitchellWhy a 13F Is Already Weeks Old When You Read It
A 13F reports holdings as of quarter-end and can be filed 45 days later — so it's a rear-view mirror. Here's how the reporting lag works and when it matters.
Sarah MitchellValue vs Growth: Reading a Fund's Style From Its 13F
A fund's holdings reveal whether it's a value or growth investor — often in the first few names. Here's how to read style from a 13F, with real examples.
Sarah MitchellHow to Read a Sovereign Wealth Fund's 13F
Sovereign wealth funds like Temasek and Norges Bank file 13Fs too. Here's what makes them different from index funds and hedge funds — and how to read their holdings.
Sarah MitchellConvertible Securities in a 13F: The Hybrid Holding
Some 13F lines aren't stocks — they're convertible bonds, with a coupon and maturity. Here's what convertibles are, why they appear in 13Fs, and how to read them.
Sarah MitchellCalamos Q1 2026: A Risk-On Quarter in Growth and ETFs
Calamos added broadly to megacaps and ramped index ETFs (SPY +45%, new QQQ) in Q1 2026, while its convertible heritage shows in holdings like a Western Digital convert.
Marcus ChenBarrow Hanley Q1 2026: Deep Value, No Megacap Tech
Barrow Hanley's $30.5B book holds no megacap tech — pharma, energy, and utilities lead. In Q1 2026 it added GE HealthCare +83% and HP Enterprise +57%.
Marcus ChenSands Capital Q1 2026: Trimming Growth, Adding Spotify
Sands Capital's concentrated growth book fell 22.5% in Q1 2026 as it trimmed Nvidia, TSMC, Amazon, and Visa — with Spotify (+22%) the lone conviction add.
Marcus ChenTemasek Q1 2026: Singapore's SWF Anchored by BlackRock
Singapore's Temasek holds 16.8% of its US book in BlackRock, plus payments and AI names. In Q1 2026 it added Broadcom +42%, Mastercard +16%, Thermo Fisher +40%.
Marcus ChenHolding Companies in a 13F: When 30% Isn't Concentrated
A 30% stake in Berkshire Hathaway looks extreme but isn't — it's a diversified portfolio in one line. Here's how holding companies change 13F concentration math.
Sarah MitchellWhy Most Large 13Fs Own the Same Megacaps
Nvidia, Microsoft, Apple, Alphabet anchor book after book across very different managers. Here's why large 13Fs cluster in megacaps — and what the exceptions reveal.
Marcus ChenHow to Read an ESG Fund's 13F Holdings
ESG and responsible funds screen stocks on values as well as returns. Here's how that screening shapes a 13F — and what the filing can and can't tell you.
Sarah MitchellWhat Is Quality Investing? How to Read a Quality 13F
Quality investors own durable, profitable businesses and hold them for years. Here's what quality investing means and how to recognize a quality 13F.
Sarah MitchellFirst Manhattan Q1 2026: 30% in Berkshire Hathaway
First Manhattan, the value firm tied to Buffett associate Sandy Gottesman, holds ~30% of its $36B book in Berkshire Hathaway and added 53% to Amazon in Q1 2026.
Marcus ChenParnassus Q1 2026: A Broad Trim Across a Quality Book
Parnassus, the ESG-investing pioneer, trimmed nearly every top holding 6-8% (Deere -29%) in Q1 2026 — a broad de-risking as its book fell to $34B.
Marcus ChenGMO Q1 2026: Grantham's Quality Megacap Book
GMO added Microsoft to its top spot and trimmed Lam Research in Q1 2026 — a quality book of profitable megacaps and healthcare defensives despite cautious commentary.
Marcus ChenKayne Anderson Rudnick Q1 2026: A Non-Megacap Book
Kayne Anderson Rudnick's $34B book holds quality small- and mid-caps — Jack Henry, Toro, Teledyne — and no megacaps. Its value has slid as small-caps lag.
Marcus ChenViking Global Q1 2026: Big Adds to Visa and Tesla
Viking Global raised Visa 59% to its top holding, lifted Tesla 47%, and opened a new Apple stake in Q1 2026 — a Tiger cub leaning into payments and megacap tech.
Marcus ChenTCI Q1 2026: Chris Hohn's 10-Stock, GE-Anchored Book
TCI Fund Management holds just ten stocks, with GE Aerospace at 30%. In Q1 2026 it added to its quality compounders and slashed Microsoft 84%.
Marcus Chen