Market Insights

Code F can look like insider selling in a headline, but it usually reflects shares withheld to cover taxes after vesting or exercise events.

When several executives file Form 4s around the same week, the right question is whether they sold, bought, exercised, or just covered taxes.

UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reported $472.97B for 2025Q4, with NVDA at 8.13% and top-5 concentration at 27.42%.

Diesslin Group, Inc. reported $251.64M for 2025Q4, with BRK/B at 23.93% and top-5 concentration at 66.61%.

BANK OF MONTREAL /CAN/ reported $288.73B for 2025Q4, with NVDA at 5.02% and top-5 concentration at 18.22%.

Outset Medical CEO Leslie Trigg continued a small-lot selling pattern into early 2026 even as the company pointed to better margins and a stronger cash runway.

ENVESTNET ASSET MANAGEMENT INC reported $337.09B for 2025Q4, with IVV at 6.17% and top-5 concentration at 14.27%.

Jim Baker added 25,000 more KYN shares in March 2026, extending a steady run of open-market purchases in Kayne Anderson Energy Infrastructure Fund.

AMETEK insiders David Zapico, John Hardin, and Tony Ciampitti all reported March 2026 code F tax withholdings after new equity awards, a compensation event that reads differently from open-market selling.

A Form 4 can show zero Class A shares after a sale even when the insider still controls a large beneficial stake elsewhere. Here is how to read Table I, Table II, and 13D or 13G together.

A manager can buy more shares and still show a lower portfolio weight, or cut shares while a position looks bigger. This guide explains how to read both signals together.

National Pension Service reported $135.07B for 2025Q4, with NVDA at 6.92% and top-5 concentration at 24.48%.

FIRST TRUST ADVISORS LP reported $137.60B for 2025Q4, with CSCO at 1.72% and top-5 concentration at 7.55%.

Creative Planning reported $139.71B for 2025Q4, with IVV at 11.94% and top-5 concentration at 32.71%.

Mitsubishi UFJ Asset Management Co., Ltd. reported $147.50B for 2025Q4, with NVDA at 6.85% and top-5 concentration at 25.68%.

JONES FINANCIAL COMPANIES LLLP reported $164.02B for 2025Q4, with VUG at 11.91% and top-5 concentration at 40.43%.

Pantera Capital Partners LP reported $164.21M for 2025Q4, with FIGR at 38.37% and top-5 concentration at 89.93%.

Sumitomo Mitsui Trust Group, Inc. reported $170.27B for 2025Q4, with NVDA at 7.17% and top-5 concentration at 24.74%.

PRINCIPAL FINANCIAL GROUP INC reported $195.86B for 2025Q4, with NVDA at 4.11% and top-5 concentration at 16.05%.

THRYVE WEALTH MANAGEMENT LLC reported $202.09M for 2025Q4, with QQQ at 20.05% and top-5 concentration at 45.44%.