Latest research, educational guides, and news from the world of institutional investing.
13F filings reveal what the world's largest institutional investors own. Learn how to read them, when they're filed, and how to use them for smarter investing.
Susquehanna International Group’s Q4 2025 filing reported $868.03B in 13F value, but the book reads like an options market maker’s hedge inventory, not a traditional stock picker’s portfolio.
Wellington Management closed Q4 2025 with $570.66B across 7,580 positions. Unlike peers chasing NVIDIA, Wellington's top holding is just 4.9% of portfolio — true diversification at scale.
Norges Bank's U.S. equity portfolio reached $934.76B in Q4 2025, with NVIDIA ($62.2B), Apple ($52.3B), and Microsoft ($50.7B) as the three pillars of a 1,577-position portfolio.
Citadel Advisors closed Q4 2025 with $665.87B in AUM across 15,403 positions. SPY ($39.5B), QQQ ($36.3B), and Tesla ($34.5B) dominate — but the diversification math tells a different story.
Gregory Brown, Chairman and CEO of Motorola Solutions, sold $13.5 million in MSI shares on March 4-6, 2026, following record Q4 2025 revenue. His career insider sales now exceed $1.09 billion.
United Therapeutics CEO Martine Rothblatt sold $5.1 million in UTHR shares across March 12 and 16, 2026, bringing her career insider sales past $1 billion — just days after the ADVANCE OUTCOMES Phase III results and a Leerink conference appearance.
Wick, Mengis, Nuveen, Amundi, and Stenger Family Office all filed large Q4 2025 books, but they used very different structures to express risk.
Vanguard, FMR, Morgan Stanley, and Banque Transatlantique all treat mega-cap tech as core exposure in Q4 2025, but the concentration levels are nowhere near the same.
Ovata Capital used listed options and concentrated thematic exposures in Q4 2025, a sharp contrast with ETF allocators like SHP Wealth, TD Capital, and Bank of Hawaii.
Four institutional investors reveal divergent semiconductor strategies in Q4 2025: Oak Grove Capital's concentrated 50.2% conviction play versus Mariner's balanced 10% allocation and conservative positions from NWF and TD Capital.
Three Q4 2025 filings show the same ETF label can mean very different things: SHP runs a concentrated model core, TD balances broad beta with bonds, and Bank of Hawaii leans global.
Stenger Family Office operates a focused $484M portfolio with 33.9% concentration in top 5 holdings. We analyze the family office's tech-forward conviction strategy and what it signals about institutional capital flows.
Alpine Global Management's Q4 2025 filing reveals $464M AUM with WhaleScore 80.0, concentrated in three mega-positions (IMVT 14.4%, RIVN 11.2%, ACHR 7.6%) representing 33.2% of portfolio.
Avoro Capital Advisors manages $10.2B with 34 holdings focused exclusively on biotech and healthcare. The fund's concentrated portfolio—with top-5 holdings representing 48.7% of AUM—reflects deep conviction in transformative therapies.
Aristides Capital LLC's Q4 2025 filing reveals a disciplined $565.4M portfolio across 273 holdings with a WhaleScore of 77.50. The fund demonstrates institutional-grade conviction in a diversified small/mid-cap strategy balancing growth exposure with risk management.
A deep dive into World Investment Advisors' diversified investment platform managing $6.16B across 1,468 holdings, with core positions in mega-cap tech and broad index exposure.
Tempo Wealth reported a one-quarter Q4 2025 book led by Parker-Hannifin and Progressive, but the surrounding structure was unmistakably ETF-driven.
Integrated Investment Consultants reported a Q4 2025 filing dominated by style-box ETFs, with UWMC standing out as the largest non-ETF exception.
Auto-Owners came out of a thin Q3 book with a Q4 2025 filing dominated by five ETFs that together made up nearly half the reported portfolio.