Latest research, educational guides, and news from the world of institutional investing.
PNC Financial Services reported $166.63B in Q4 2025, but the dominant signal is a $54.94B Eli Lilly stake at 33.57% weight. The filing combines steady AUM expansion with unusually high single-name concentration.
PRIMECAP reported $132.11B in Q4 2025 with Eli Lilly and Micron alone at 12.9% combined, signaling a barbell between healthcare defensiveness and semiconductor cyclicality.
Deutsche Bank AG reached $307.09B in Q4 2025 13F assets, with NVDA and MSFT at the top of a broad mega-cap stack and a three-quarter acceleration in AUM.
Victory Capital ended Q4 2025 at $177.20B after a +58.7% jump in Q2 and continued gains through year-end. The portfolio pairs mega-cap tech leadership with broad institutional sizing discipline.
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.