Insights

Why a Fund's 13F Value Can Fall Without Selling a Share

A fund's reported 13F value can rise or fall even when it never trades — price does the work. Here is how to tell mark-to-market moves from real buying and selling.

Sarah Mitchell

Fayez Sarofim Q1 2026: A $39B Book That Barely Moves

Fayez Sarofim held nearly every top position flat in Q1 2026 — Apple, Microsoft, Philip Morris, Exxon — adding only to Nvidia, as its 13F book eased 6.2% to $39.08B. A study in low-turnover conviction.

Marcus Chen

Brown Advisory Q4 2025: Trimming Big Tech, Holding Payments

Brown Advisory cut Amazon 18%, Nvidia 16%, and trimmed its megacap-tech book in Q4 2025 as reported 13F value fell 6.9% to $70.51B, while holding Visa, Mastercard, and TSMC roughly flat.

Marcus Chen

UTHR CEO Rothblatt Sells $5M Stock After Pipeline Wins

United Therapeutics founder Martine Rothblatt exercised long-dated options and sold $5.4 million of UTHR on May 21, 2026, days after back-to-back late-stage trial wins that underpin the company's path to $8 billion in peak revenue.

Alex Rivera

Datadog Cofounder Le-Quoc Sells $9M DDOG After Raise

Datadog co-founder and CTO Alexis Le-Quoc sold roughly $9 million of DDOG on May 18, 2026, just weeks after the company posted its first billion-dollar quarter and lifted its 2026 revenue outlook on AI observability demand.

Alex Rivera

Roku CEO Wood Sells $10M ROKU, Keeps 16M Class B Shares

Roku founder Anthony Wood sold roughly $10 million of ROKU on May 11, 2026 through a convert-and-sell, but his Form 4 shows he retains 16.2 million Class B shares and the voting control that comes with them — just as Roku swung to profitability.

Alex Rivera

Monolithic Power CEO Hsing Sells $59M as MPWR Tops $1,500

Monolithic Power founder Michael Hsing sold 40,000 MPWR shares for $59.3 million on May 18, 2026, near record highs, days after AI data-center demand drove enterprise revenue up nearly 98% year over year.

Alex Rivera

Cloudflare CEO Prince Sells $33M in NET Amid AI Pivot

Cloudflare co-founder Matthew Prince sold roughly $33 million of NET stock across three sessions in May 2026, days after the company cut 20% of staff to chase an AI-first model. The Form 4 cadence — and his retained 7%+ stake — tell the fuller story.

Alex Rivera

Arista CEO Ullal Sells $120M in ANET as AI Outlook Rises

Arista Networks chief Jayshree Ullal sold more than $120 million of ANET stock across April 2026 even as the company lifted its 2026 AI networking forecast to $3.25 billion. Here is what the Form 4 cadence reveals.

Alex Rivera

Walmart Beats But Fuel Bites: The 13F Read on WMT

Alex Rivera

Washington Takes Equity in Quantum: The 13F Gap It Fills

Alex Rivera

Kroger's Price War Meets Buffett's $3.6B Stake

Alex Rivera

Meta Cuts 8,000 to Fund $145B AI: The 13F Read

Alex Rivera

Lilly's Retatrutide Hits 30%: The 13F Read on LLY vs Novo

Alex Rivera

Nvidia's $80B Buyback Pivot: What 13F Holders Signal

Alex Rivera

NextEra-Dominion $67B Merger: Who Owns Both Sides

Alex Rivera

What Is a 13F-NT? The Notice Filing Most Readers Skip

13F-NT is the notice filing institutional managers use when their qualifying assets are reported by another manager. It is a pointer, not a portfolio — and it is the single most-misread document in the 13F system.

Sarah Mitchell

John Hess Sells $36M CVX in One Day Post-Merger

John Hess, now a Chevron director after the 2025 merger, sold 195,000 CVX shares for $36M on May 6, 2026 at $183.90-$185.21. His combined trust and direct holdings still total over 1.18M Chevron shares.

Alex Rivera

Marc Benioff's CRM Distributions: Inside the 10b5-1 Cadence

Through Q1 2026 the Salesforce CEO continued mechanical 10b5-1 exercise-and-sell activity while retaining 11.9M shares via trusts and derivatives. The pattern reads as compensation conversion, not conviction shift.

Alex Rivera

What Is a Schedule 13G? Passive 5% Stake Disclosures Explained

Schedule 13G is the SEC's disclosure for passive investors crossing the 5% ownership threshold. Index funds, insurance companies, and qualified institutional buyers file it instead of 13D when they have no intent to influence control.

Sarah Mitchell