Latest research, educational guides, and news from the world of institutional investing.
Victory Capital kept mega-cap tech on top in Q4 2025, but the sharper signal was in the secondary moves: large increases in Netflix, Constellation Energy, TSMC and new positions like IQVIA. The next filing will show whether that diversification continues.
United Therapeutics CEO Martine Rothblatt sold roughly $2.2 million of UTHR stock across visible March 2026 Form 4 sale lines. The trades landed after the company reported record 2025 revenue and while UTHR still traded at $580.51 on April 17, 2026.
Roku founder Anthony Wood sold 25,000 Class A shares on April 16, 2026 for about $2.8 million, but the same filing still showed 16.27 million shares in Form 4 Table II. The trade landed while Roku stock held above $111 after a profitable 2025 finish.
Raymond James used Q4 2025 to keep broad ETF exposure high through VOO, AGG, SPY and IEFA while also adding to sector sleeves such as XLK and XLE. The next filing will show whether that balanced ETF-heavy structure remains the preferred setup.
Principal’s Q4 2025 filing looked slightly weaker on headline AUM, but the internal rotation was more revealing: Brookfield became a top-ten position, Netflix surged, and the fund cut back in parts of real estate. The next filing will show whether that shift keeps going.
Nuveen’s Q4 2025 filing stayed large-cap and AI-heavy at the top, but the more revealing addition was a sizable fixed-income sleeve through NXUS and NHYB. The next filing will show whether those credit and bond ETFs remain central or fade back out.
Janus Henderson kept Nvidia and Microsoft on top in Q4 2025, but the more interesting signal was underneath: new exposure to Intuitive Surgical, Protagonist Therapeutics and other growth-healthcare names. The next filing will show whether that rotation keeps building.
Some 13F filers are better read as asset allocators, while others are better read as concentrated stock pickers. Here is how to tell the difference quickly and why the distinction matters.
The best 13F research starts before the filing arrives. Here is how to use the last quarter’s holdings, concentration, new positions and ETF sleeves to build a smarter watchlist ahead of the next deadline.
A portfolio packed with ETFs and bond funds should not be read the same way as a concentrated stock-picking book. Here is how ETF sleeves change position-level meaning inside a 13F.
Fisher’s Q4 2025 filing was still packed with mega-cap tech, but the bigger tell was a giant Treasury and investment-grade corporate bond sleeve built through IEF and VCIT. The next filing will show whether that duration bet was tactical or structural.
Dodge & Cox’s Q4 2025 filing barely moved on headline AUM, but the underlying changes were more interesting: fresh positions in Brookfield, TransUnion and PDD inside a still-diversified value book. The next filing will show whether those adds were conviction moves or just incremental reshuffling.
Datadog CTO Alexis Le-Quoc exercised options and sold multiple DDOG lots on April 6, 2026 for roughly $3.7 million. The stock still traded at $123.47 on April 17, 2026 as investors kept focusing on Datadog’s AI and enterprise growth story.
CalPERS used Q4 2025 to keep broad-market exposure high through VOO while still adding to Nvidia, Microsoft, Alphabet and Broadcom. The next filing will show whether the pension giant keeps that simple beta-heavy structure or rotates again.
AQR’s Q4 2025 filing kept expanding, with AUM rising to $190.63B, 69 new names, and a dramatic Bristol Myers build inside an already broad book. The next filing will show whether the quant giant keeps pressing this expansion or starts normalizing the roster again.
American Century’s Q4 2025 filing kept Nvidia and Microsoft on top, but the more revealing changes were the big Netflix increase, fresh utility and industrial additions, and a continued AI-heavy core. The next filing will show whether those side bets keep scaling.
AllianceBernstein kept Nvidia, Microsoft and Amazon on top in Q4 2025, but new exposure to Intuitive Surgical and aggressive increases in Netflix and ServiceNow made the next filing more interesting than another mega-cap recap. Here is what to watch.
Berkshire ended Q4 2025 with a $274.16B U.S. equity portfolio, steady Apple and American Express stakes, and a fresh set of Verisign, Liberty and New York Times positions. The next filing will show whether those adds were the start of a new sleeve or just tactical cleanup.
Cloudflare CEO Matthew Prince sold multiple NET lots on April 8, 2026 for roughly $3.3 million. The stock still traded at $197.38 on April 17, 2026, and recent 13G filings still associated Prince with about 7.7% beneficial ownership.
Stanley Druckenmiller's Q4 2025 filing added XLF, EWZ and RSP in size while keeping Natera on top. Ahead of the May 15, 2026 deadline, the question is whether that macro overlay expands or fades.