Latest research, educational guides, and news from the world of institutional investing.
Baillie Gifford closed Q4 2025 at $120.34B after a -10.9% QoQ AUM move, while top holdings remained concentrated in global growth names like NVDA, MELI, and AMZN.
CalPERS reported $174.90B in Q4 2025, with VOO at 11.89% and a top-10 concentration of 47.0%, combining passive core exposure with concentrated mega-cap growth.
Marshall Wace ended Q4 2025 at $109.85B with a 22.13% IVV position, while NVDA, AMZN, AAPL, and MSFT sit far smaller, reshaping how to read the fund’s risk posture.
Massachusetts Financial Services closed Q4 2025 with $310.12B and 500 positions, but no single name above 4.30%. The portfolio shows deliberate risk spreading across mega-cap compounders instead of concentrated bets.
D. E. Shaw reported $182.42B in Q4 2025 with 5,839 holdings and only 18.8% in its top 10 positions, signaling breadth-first scaling.
Northwestern Mutual Wealth Management finished Q4 2025 at $158.12B, with 500 positions and a 15.01% IVV anchor that signals a rules-based, ETF-heavy allocation framework.
Janus Henderson demoted Apple to fifth place behind NVIDIA, Microsoft, Amazon, and Alphabet — a 2.9% underweight versus passive benchmarks that reveals the firm's biggest active conviction.
Jane Street Group's latest 13F reveals a $662 billion portfolio where 33% sits in ETFs like SPY and QQQ — a striking allocation from the firm that dominates ETF market-making and just posted a record $10.1 billion trading quarter.
An options-heavy 13F can look aggressive, bearish, or brilliant when it may simply be hedged structure. Here is how to read those portfolios correctly.
Whale Scores are useful ranking tools, but only if you read them as context, not as a shortcut that replaces actual analysis.
Ovata used a concentrated, international mix led by Spotify, Ryanair, TSM, and Bitcoin exposure, with converts layered in around the edges.
James Eric Bjornholt disclosed three Microchip stock sales worth about $646K across late November and late February as the chipmaker reset guidance and priced fresh convertible notes.
Mariner rebuilt around Microsoft, Lam Research, Alphabet, Costco, and Bitcoin exposure, with 65 new positions in a single quarter.
JPMorgan rotated into names like LITE and RKLB while slashing broad ETFs and cyclical winners, producing one of the cleanest 39-for-39 resets in the mega-filer group.
Not every huge 13F belongs to a stock picker. This guide helps you separate passive plumbing from genuine active conviction.
Crowded institutional favorites can be useful signals, but only if you separate durable consensus from late-cycle copying.
Quarter-to-quarter comparisons are where most retail misreads happen. This guide shows how to compare filings without inventing signals that are not there.
A useful 13F process is repeatable. This guide shows how to turn filings into a watchlist you can actually maintain quarter after quarter.
ETF-heavy 13Fs often reflect allocation plumbing rather than stock-picking conviction. This guide shows how to tell the difference.
AUM is not just size. It changes how quickly a manager can move, where they can invest, and what kind of ideas can matter.