Updated May 23, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Beneficial vs Direct Ownership: How Much Insiders Really Own
A Form 4 can show an insider holding a few thousand shares while they actually control tens of millions. Here's how to read direct vs beneficial ownership.
Sarah MitchellExercise-and-Sell on a Form 4: Why It Looks Worse Than It Is
An option exercise paired with a same-day sale can make an insider's share count look near-zero. Here's how to read exercise-and-sell Form 4 filings correctly.
Sarah MitchellMorningstar Founder Mansueto Keeps Trimming, Still Owns 37%
Morningstar Executive Chairman Joe Mansueto sold ~$3.72M in MORN in mid-May 2026 under a 10b5-1 plan, but still controls about 37.5% of the company.
Alex RiveraCloudflare's Co-Founders Keep Selling Into the AI Story
Cloudflare President Michelle Zatlyn sold ~$92.7M over six months alongside CEO Matthew Prince's ~$187.3M — structured founder selling as AI demand accelerates.
Alex RiveraArista's CEO and CTO Sell Into the AI Networking Boom
Arista Networks CEO Jayshree Ullal and CTO Kenneth Duda both exercised options and sold in May 2026 — plan-driven sales as the company doubled its AI revenue target.
Alex RiveraGQG Partners Q1 2026: A Big New Bet on Chevron
Rajiv Jain's GQG Partners lifted Chevron 631% and added to Petrobras in Q1 2026 — an energy pivot inside one of the most concentrated large 13F books.
Marcus ChenArtisan Partners Q1 2026: A Financials-Heavy Value Book
Artisan's focused ~330-name book leans hard into financials — Arch Capital, BNY Mellon, Schwab, Amex, Citi, Berkshire — and held steady through a -6.7% AUM quarter.
Marcus ChenTudor Q1 2026: Cutting Small-Caps, Doubling Gold
Paul Tudor Jones' macro fund trimmed its Russell 2000 and Nasdaq ETF sleeves while more than doubling gold and tripling Tesla in Q1 2026 — a clean risk rotation.
Marcus ChenEnsign Peak Q1 2026: A $53.67B Book That Barely Trades
The LDS Church's investment arm holds a concentrated megacap-tech core flat across roughly 1,700 positions. Its Q1 2026 AUM slide is market beta, not selling.
Marcus ChenThe Mega-Bet: When a Fund Puts a Third in One Stock
Some hedge funds put 30% or more of their book in a single stock - by conviction, not control. That outsized bet is the purest signal of conviction, and of risk. Here is how to read it.
Sarah MitchellHow to Spot a Defensive 13F: Reading a Risk-Off Book
No single line proves a manager has turned cautious, but a constellation - cash, staples, utilities, gold, trimmed growth - does. Here is how to read a risk-off posture in a 13F.
Sarah MitchellHow to Read an Income Fund's 13F: Yield Over Growth
Income-focused funds buy for distributions, not appreciation - clustering in MLPs, utilities, and REITs. Reading their 13Fs means judging by yield and cash flow, not growth.
Sarah MitchellWhat a T-Bill ETF in a 13F Signals: Cash and Caution
When a stock manager's largest holding is a Treasury-bill ETF, it is parking cash in plain sight. Here is how to read a cash-equivalent position in a 13F.
Sarah MitchellConfluence Q1 2026: A Dividend Book With Cash on Top
Confluence Investment Management's largest holding is a Treasury-bill ETF, atop a broad book of dividend payers - Lockheed, Chevron, Hershey - a cautious, income-focused portfolio.
Marcus ChenVeritas Q1 2026: A Quality Book Halved by Outflows
Veritas Asset Management cut nearly every top holding 24-40% in Q1 2026 as its book fell 39.6% to $5.9B - the footprint of outflows - with Mastercard the lone add.
Marcus ChenSamlyn Q1 2026: A Long-Short Tilt Into Financials
Samlyn Capital raised LPL 47%, JPMorgan 111%, and Primerica 323% in Q1 2026 while trimming Capital One and Morgan Stanley - a long-short rotation into financials and platforms.
Marcus ChenEnergy Income Partners Q1 2026: A Pure Pipeline Book
Energy Income Partners' $6.2B book is built entirely on midstream pipelines and regulated utilities - Enterprise Products, Energy Transfer, MPLX - a pure energy-income strategy.
Marcus ChenKensico Q4 2025: A Third of the Book in One Stock
Kensico Capital holds 36% of its $5.9B book in AppLovin and opened a new 18% Howmet stake - two names exceed half the portfolio - while re-risking into FICO, Amazon, and Microsoft.
Marcus ChenSequoia Fund Q4 2025: Trimming Megacaps, Holding Quality
Ruane, Cunniff & Goldfarb - the Sequoia Fund manager - trimmed Alphabet, Schwab, and TSMC while holding its distinctive quality core flat: Formula One, Capital One, Elevance, ICE.
Marcus ChenHow a Sector Specialist Rotates Within Its Own Sector
A sector-specialist fund rarely leaves its sector - it rotates within it, between sub-industries. Reading those intra-sector moves is a finer signal than 'bullish or bearish on tech.'
Sarah Mitchell