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.
When a Fund's Position Count Jumps: Reading Re-Risking
When a fund's number of holdings suddenly jumps - say 17 to 38 in a quarter - it often signals a manager re-engaging and putting cash to work. Here is how to read the expansion.
Sarah MitchellWhat a Gold ETF in a 13F Signals: Reading the Hedge
When an equity manager holds a gold ETF among its largest positions, it is usually making a deliberate statement about inflation and market risk. Here is how to read it.
Sarah MitchellHow to Read an Event-Driven Fund's 13F
Event-driven funds bet on specific corporate catalysts - mergers, spinoffs, restructurings - and often park a huge index ETF on top. Here is how to read past the overlay to the real bets.
Sarah MitchellTocqueville Q1 2026: Diversified Quality With a Gold Hedge
Tocqueville's broad 500-name quality book is anchored by Home Depot and megacaps, with a gold-ETF hedge in the top ten - a low-turnover, resilience-minded portfolio.
Marcus ChenMagellan Q1 2026: Pivoting From Megacaps to Tower REITs
Magellan trimmed Amazon, Microsoft, and TSMC in Q1 2026 while boosting cell-tower REITs Crown Castle 59% and American Tower 40% - a global manager's defensive infrastructure pivot.
Marcus ChenCarronade Q1 2026: An Event-Driven Book Under an ETF
Carronade Capital's 13F is 77% an S&P 500 ETF overlay, with a concentrated event-driven sleeve beneath - Viasat, Talen Energy, Comcast - all added to in Q1 2026.
Marcus ChenYacktman Q1 2026: Defensive Value, Energy and Staples
Yacktman's $7.5B book is anchored by Canadian Natural Resources and consumer staples, mostly held flat - disciplined defensive value in a growth-dominated market.
Marcus ChenWhale Rock Q1 2026: Platforms Over Hardware in Tech
Whale Rock raised Alphabet 27% to its top holding while trimming SanDisk, Celestica, TTM, and Corning - a tech-growth fund rotating from hardware toward platforms.
Marcus ChenAppaloosa Q4 2025: Tepper Re-Risks Into Tech and Semis
David Tepper's Appaloosa doubled its position count to 38, opened new Amazon, Micron, and TSMC stakes, and boosted Meta 62% while trimming its Alibaba anchor.
Marcus ChenWhen No Holding Dominates: Reading a Flat 13F Book
Some funds have no anchor position - the largest holding is only 5% and the weights stay flat across the book. That structure is a signal about strategy. Here is how to read it.
Sarah MitchellReading a Macro Investor's 13F: Themes, Not Stock Picks
A global-macro investor's 13F looks nothing like a stock-picker's - ETFs used as exposure dials, convertibles, eclectic sector bets. Here is how to read a top-down book.
Sarah MitchellHow to Read a Contrarian Fund That Bets Against the Crowd
Some managers build their edge by owning what everyone else avoids and fading the most crowded trades. Here is how to spot a contrarian 13F and weigh its anti-consensus bets.
Sarah MitchellHow to Read a Hard-Asset Fund's 13F: Land and Royalties
Some funds build their entire 13F around land, royalties, gold, and Bitcoin - bets on scarcity and inflation rather than earnings growth. Here is how to read these distinctive portfolios.
Sarah MitchellGilder Gagnon Q1 2026: A Diffuse Growth Book, Core Held
Gilder Gagnon Howe spreads its $8.3B book across 252 growth names, holding its Nvidia-Netflix-Cloudflare core flat in Q1 2026 while the activity stays in the long tail.
Marcus ChenAxiom Q1 2026: A Growth Book Tilts to AI and Industrials
Axiom Investors raised Nvidia 21%, GE Aerospace 19%, and JPMorgan 9% in Q1 2026 while cutting Amazon and Morgan Stanley - a global-growth rotation toward AI and industrials.
Marcus ChenCauseway Q1 2026: An International Value Book Goes Global
Causeway Capital's $8.2B book leans into foreign-listed value names plus Carnival, Canadian Pacific, and Alibaba - an international value manager's deliberately global tilt.
Marcus ChenEgerton Q1 2026: A 24-Stock Book Triples Alphabet
Egerton Capital tripled Alphabet, doubled Moody's, and opened a new Nvidia position in Q1 2026 while cutting Amazon 60% - high-conviction moves in a 24-stock long-short book.
Marcus ChenSoros Q1 2026: An Opportunistic Macro Book in Motion
Soros Fund Management raised its S&P 500 ETF 316%, Taiwan Semiconductor 156%, and CoreWeave 91% in Q1 2026 while rotating energy ETFs - a flexible macro book across stocks, ETFs, and credit.
Marcus ChenHorizon Kinetics Q1 2026: Half a Book in One Land Stock
Horizon Kinetics holds 51% of its $9.2B book in Texas Pacific Land, plus a Bitcoin trust and royalty names - Murray Stahl's contrarian bet on scarcity and inflation.
Marcus ChenWhen a Fund Owns Another Famous Investor's Vehicle
Some 13Fs list another investor's publicly traded vehicle - like Markel holding Berkshire Hathaway - as a top position. Here is what these 'investor-of-investor' stakes signal.
Sarah Mitchell