Latest research, educational guides, and news from the world of institutional investing.
Carl Icahn's Q4 2025 13F reveals extreme energy concentration — IEP and CVR Energy alone account for 70% of his $8.45B portfolio, with zero technology exposure and just 13 holdings.
While most institutional giants chase the Magnificent Seven, this 95-year-old value fund puts financials, defense, and healthcare in its top 5 holdings — and its $185B AUM keeps growing.
Baker Bros Advisors surged 67.8% to $17.08B in Q4 2025 by injecting $6.9B across 19 new biotech positions while maintaining a 100% healthcare portfolio — the largest pure-play biotech fund in 13F filing history.
Bill Harnisch’s Peconic Partners exploded from $140M to $4.2B in Q4 2025 by going all-in on Quanta Services, Dycom, and MasTec — the companies building the power lines and fiber networks behind AI, broadband, and clean energy.
Carlyle Group’s Q4 2025 13F shows 99% of its $13.6B portfolio in just two recent IPOs — Medline (healthcare, $9B) and StandardAero (aerospace, $4.4B) — the clearest snapshot of PE-to-public transition in any 13F filing.
Some of the world's best investors hold fewer than 20 stocks, while others spread across thousands. Learn what portfolio concentration reveals about investment conviction and how to spot high-confidence bets.
13F filing season happens four times a year, 45 days after each quarter ends. Learn the exact deadlines, what to watch for, and how to use 13F Insight to track institutional portfolio changes as they're filed.
Whale Scores rank institutional investors on a 0-100 scale using three factors: AUM size, portfolio concentration, and filing activity. Learn how to interpret them and find high-conviction money managers.
In Buffett’s final quarter as CEO, Berkshire Hathaway slashed its Amazon position by 77%, continued trimming Apple for the 7th consecutive quarter, and sold another 50.8 million Bank of America shares. Here’s why.
Filed on February 17, 2026, Berkshire Hathaway’s latest 13F marks the final quarterly snapshot of Warren Buffett’s 60-year tenure as CEO. The $274.2 billion portfolio tells a story of deliberate simplification.
Berkshire Hathaway’s Q4 2025 13F reveals extreme portfolio concentration — the top 10 holdings account for 88.3% of the $274.2 billion portfolio, with Apple and American Express alone commanding 43%.
13F filings reveal exactly what stocks the world's largest investors own. Here's how they work, what they contain, and how you can use them to track smart money moves.
David Abrams — Seth Klarman's former protégé — held 32 million LOAR shares worth $2.2B at 38.4% of portfolio in Q4 2025 while deploying $1.33B into Lithia Motors and Asbury Automotive, the two largest US auto dealership chains. 12 holdings, 3 stocks = 62% of the portfolio.
Masayoshi Son exited a $6B NVIDIA position (51% of portfolio) and deployed $10B+ into Intel ($3.2B direct investment), a Bitcoin treasury company ($781M), and Taiwan Semiconductor ($603M) — all to fund a $40B OpenAI commitment. SoftBank’s Q4 2025 13F reveals the most radical portfolio rotation of the filing season.
Nelson Peltz’s Trian Fund holds just 7 stocks worth $3.98B — with 69% concentrated in Janus Henderson and GE Aerospace. The Q4 2025 filing arrives as Peltz takes his #1 holding private for $7.4B while slashing Invesco 80%.
ValueAct's 13F portfolio surged from $3.1B to $7.0B in Q4 2025 — a 125% increase in a single quarter. Mason Morfit doubled the firm's positions from 8 to 16, deploying $3.4B into new stakes including Amazon ($783M), BlackRock ($744M), Roblox ($484M), Disney ($350M), and a $564M Live Nation complex across three tickers.
Akre Capital rebuilt its portfolio from 11 to 18 holdings in Q4 2025, deploying $2.65B into Moody’s, Airbnb, FICO, and Roper Technologies while increasing Brookfield by 40% — the most aggressive single-quarter expansion in the fund’s recent history.
Brad Gerstner cut Broadcom from $246M to $11M, exited Alibaba entirely, and deployed $2.4B into 8 new positions including Microsoft, Amazon, Snowflake, and CoreWeave — reshaping Altimeter's $6.7B portfolio around an AI infrastructure super cycle thesis.
Chris Hohn's TCI Fund Management more than doubled its US equity portfolio to $53.6B with just 9 holdings in Q4 2025. GE Aerospace alone is a $14.6B bet — the largest new position any hedge fund added last quarter.
The Gates Foundation Trust sold 2.36M Berkshire and 1.5M Microsoft shares in Q4 2025 — its only two trades — as Bill Gates's 20-year sunsetting plan systematically unwinds a $35.4B blue-chip portfolio.