Updated May 24, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Concentrated vs Diversified: Two Ways to Build a 13F
One fund holds 11 stocks; another holds over a thousand. Here's the trade-off between concentration and diversification — and how to read each from a 13F.
Marcus ChenWhat a Gold Miner in a 13F Signals
A gold miner like Newmont in a fund's book is a leveraged bet on gold — usually a hedge, not a growth play. Here's how to read gold exposure in a 13F.
Marcus ChenSpecial-Situation Investing: Betting on Catalysts
Some funds buy stocks for a specific event — a spinoff, merger, or breakup — not the long-term business. Here's how special-situation investing shows up in a 13F.
Marcus ChenWhat a 13F Aggregates: One Filer, Many Funds
A big firm's 13F isn't one portfolio — it rolls up many funds, accounts, and strategies into one filing. Here's why that changes how you read it.
Sarah MitchellWhat Are Tiger Cubs? The Hedge Fund Family Tree
Lone Pine, Viking, Coatue, Tiger Global share an ancestor: Julian Robertson's Tiger Management. Here's what the Tiger cubs are and what their 13Fs have in common.
Sarah MitchellGabelli Q1 2026: A Hyper-Diversified Value Book
Mario Gabelli's book holds just 13.5% in its top 10 and 86% in a long tail of value and special-situation names — diversification as an explicit strategy.
Marcus ChenEdgewood Q1 2026: A Growth Book More Than Halved
Edgewood Management's concentrated growth book has fallen from ~$37B to $15.5B amid outflows. In Q1 2026 it trimmed ASML and Nvidia while adding Netflix and Axon.
Marcus ChenBrandes Q1 2026: A Global Deep-Value Book
Brandes runs a diversified, contrarian global value book — Grifols, Citi, Mohawk, Shell — and added aggressively to cheap cyclicals like Mohawk (+137%) in Q1 2026.
Marcus ChenPershing Square Q1 2026: Ackman Buys Microsoft, Exits Alphabet
Bill Ackman's 11-stock book opened a major Microsoft position (15% of assets) and nearly exited Alphabet in Q1 2026, while adding to Amazon — a big-tech rotation.
Marcus ChenNet vs Gross Exposure: Why a 13F Can Mislead
A hedge fund's 13F shows only longs, so it can't reveal net or gross exposure. Here's what those terms mean and why a big long book may carry little market risk.
Marcus ChenInstitutional Ownership and Free Float in a 13F
A billion-dollar stake means different things in different companies. Here's how institutional ownership % and free float give a 13F position its real context.
Sarah MitchellMerger Arbitrage: Reading a Deal-Driven 13F
Some funds bet on whether deals close, not where stocks go. Here's how merger arbitrage works and how to recognize a deal-driven book in 13F filings.
Marcus ChenCrowded Trades and Hedge Fund Hotels, Explained
When dozens of hedge funds own the same stock, it's a crowded trade. Here's why crowding is both a validation signal and a hidden risk — and how to read it in 13Fs.
Marcus ChenLow-Volatility Investing: Winning by Losing Less
Low-volatility managers aim for a smoother ride — solid returns with smaller drawdowns. Here's what low-vol investing is and how to spot it in a 13F.
Sarah MitchellConfidential Treatment: Why Some 13F Holdings Are Hidden
Sometimes a 13F is missing positions on purpose. Confidential treatment lets funds temporarily hide holdings. Here's how it works and what a later reveal means.
Sarah MitchellCan You Copy a Hedge Fund's 13F?
Cloning a famous fund's 13F sounds like a free ride on pro research. Here's why it works less well than it looks — and how to use 13F data the smarter way.
Sarah MitchellLondon Co Q1 2026: A Quality, Low-Volatility Book
The London Company of Virginia holds durable, quality names — Apple, Berkshire, Norfolk Southern — and in Q1 2026 added to utility Dominion while trimming Corning.
Marcus ChenFred Alger Q1 2026: 12.5% in Nvidia, Growth Conviction
Fred Alger, a growth-investing pioneer, holds 12.55% in Nvidia and added to it through a 10.7% drawdown — high-conviction growth anchored by AI leaders.
Marcus ChenDiamond Hill Q1 2026: Trim Everything, Add Microsoft
Diamond Hill cut most of its value book 17-37% in Q1 2026 as its value slid 18% — while raising Microsoft 400%, the lone high-conviction exception.
Marcus Chen