Insights

Coca-Cola: Buffett Holds $28B at 10.2% of Berkshire Portfolio

April retail sales beat at +0.5% extends the consumer-defensive recovery thesis. Coca-Cola is the textbook defensive consumer-staples compounder. Berkshire Hathaway holds KO at $27.96 billion — 10.20% of its portfolio. Warren Buffett has held this position since 1988.

Alex Rivera

Mastercard's 96.84% Holder: The Foundation Holding $32.6B in MA

The Mastercard Foundation Asset Management Corp holds $32.60 billion in Mastercard stock — 96.84% of its entire reported 13F portfolio. This is the cleanest charitable-foundation founder-stake concentration in our database. The story is the 2006 Mastercard IPO and the founding gift that created Africa's largest education foundation.

Alex Rivera

Healthcare Cybersecurity in 13Fs: UNH, MRK, JNJ Risk Reading

Healthcare-payor and pharma R&D data is one of the highest-value targets in the AI cybersecurity threat cycle. UNH lost $2B+ in the 2024 Change Healthcare breach. Pharma R&D and clinical-trial data are next. Here's how institutional positioning reflects the risk.

Sarah Mitchell

13F Filing Thresholds: $100M, 5%, 13D vs 13G Decoder

Section 13(f) requires Form 13F-HR for $100+ million in US-listed securities. Section 13(d) requires 13D filings above 5% beneficial ownership. Section 13(g) is passive 5% threshold. Each form captures different information at different thresholds. Here's the framework.

Sarah Mitchell

Strategic Minerals in 13F: Antimony, Rare Earths, Lithium Reading

Paulson holds Perpetua Resources at 24% portfolio — a US antimony mine pre-production. MP Materials and Lynas hold rare-earths positioning. Albemarle and SQM offer lithium exposure. Strategic-minerals 13F positions reflect US-China supply-chain tension. Here's how to read them.

Sarah Mitchell

NASH and Specialty Biotech in 13Fs: MDGL, ASND, ARGX, KRYS

Paulson holds Madrigal at 30% of portfolio. Avoro holds MDGL plus ASND, ARGX, KRYS at 12-10% each. NASH, rare-disease, and protein-degradation specialty biotech show up across multiple concentrated 13Fs. Here's how to read them.

Sarah Mitchell

OCIO 13F Filings: Outsourced-CIO Asset Allocation Decoded

Cambridge Associates' Q1 2026 13F is $6.31 billion entirely in ETFs. Russell Investments, Mercer, Aon, and BlackRock OCIO file similar structures. These are outsourced-CIO institutional asset allocations, not stock-picker books. Here's how to read them.

Sarah Mitchell

Cross-Company Strategic Stakes in 13Fs: Nvidia, Apple, Salesforce

Nvidia holds 60% of its US 13F in Intel — a single strategic stake. Apple has held strategic stakes in Didi and other companies historically. Salesforce, Alphabet, Berkshire all hold meaningful cross-company stakes. Here's how to read them.

Sarah Mitchell

Cambridge Associates Q1 2026: .3B OCIO Book in ETFs

Marcus Chen

Pfizer's Active Layer: Fisher Asset Mgmt Holds PFE at 4x Index

Pfizer's 3,136 institutional holders carry a single distinctive active overweight outside the index sleeve: Fisher Asset Management at $2.95 billion, exactly 1.00% portfolio weight — roughly 4x the S&P 500 index weight. Ken Fisher's value-discipline bet on PFE is the conviction signal.

Alex Rivera

Healthcare AI Cyber Cycle: Wellington Holds Merck at 3x Index

The cybersecurity news cycle this week extends to healthcare data infrastructure. Merck is one of the largest holders of sensitive pharma R&D data and clinical-trial pipelines. Inside the 3,899-institution holder book, Wellington Management runs MRK at 1.59% portfolio — a 3.5x overweight versus the S&P 500 index weight.

Alex Rivera

Intel's Strangest Holder: Nvidia Owns INTC at 60.5% of Its 13F

Nvidia's 13F-HR reports a $7.93 billion Intel position at 60.48% of its entire reported portfolio. That single line — Nvidia owning more than half of its own US 13F book in a direct competitor — is the most unusual single-company-to-competitor stake we've seen in our database. The story behind the number is the 2025 strategic investment.

Alex Rivera

Susquehanna Owns B of UNH: Market Maker 13F Decoder

Susquehanna International Group holds $10.34 billion of UnitedHealth at 1.19% portfolio. Jane Street, Citadel Advisors, CTC, and Wolverine Trading hold similar large positions across high-options-volume stocks. These are not conviction positions — they are options inventory.

Sarah Mitchell

Capital Group Files 3 Separate 13Fs: Multi-Vehicle Guide

Capital Group holds $97.9 billion of Broadcom across three separately filed 13Fs (Capital World Investors, Capital Research Global Investors, Capital International Investors). Vanguard files 4+ separate entities. BlackRock, Fidelity, State Street all do the same. Reading single-firm-family conviction requires aggregating across vehicles.

Sarah Mitchell

Sovereign Wealth Fund 13Fs: PIF, Norges Bank, GIC Reading Guide

Saudi Arabia's PIF holds Uber at 45.97% of its US 13F. Norges Bank runs $935B in diversified US equities. GIC, Temasek, ADIA, and Kuwait Investment Authority each file with distinctive structural fingerprints. Reading them requires different rules than standard active manager 13Fs.

Sarah Mitchell

Multi-Family Office 13Fs: How Cresset, Pathstone, Bessemer Differ

Cresset's 13F has Arista at 11.81% portfolio. Pathstone, Bessemer Trust, and other multi-family offices file similar concentrated-plus-ETF structures. These are not discretionary stock-picker 13Fs — they reflect aggregated individual client positions. Here's how to read them.

Sarah Mitchell

Cresset Asset Management Q4 2025: $23.7B Multi-Family Office

Cresset Asset Management runs $23.73 billion as a Chicago-based multi-family office serving ~1,500 ultra-high-net-worth families. The Q4 2025 13F is unusual: 11.81% in Arista Networks, 17.71% combined in S&P 500 ETFs, plus a tail of single-stock individual-client positions.

Marcus Chen

Gardner Russo & Quinn Q1 2026: $8.5B Tom Russo Patience Portfolio

Tom Russo's Gardner Russo & Quinn runs $8.50 billion in the textbook expression of 'capacity to suffer' value investing. Berkshire A+B combined at 18.6%, Philip Morris at 8.96%, Nestle at 6.39%, Mastercard at 9.15%. Family-controlled brand compounders.

Marcus Chen

Arista CEO Ullal April Trim at $170; Cresset Holds 11.43% Stake

Arista Networks CEO Jayshree Ullal sold approximately $13.5 million of ANET in late April at $167-170. Cumulative $2.2 billion ledger. The conviction layer for ANET sits at Cresset Asset Management — 11.43% portfolio weight in a single name.

Alex Rivera

AI Cyber Threat Reshapes UNH Bid: Citadel 1.09%, Wellington 0.91%

Healthcare-data ransomware and AI-enabled phishing against payor systems is one of the costlier sub-segments of the broader cybersecurity threat cycle. UnitedHealth has been the largest single corporate target — the 2024 Change Healthcare breach cost the firm $2+ billion. The 13F holder book carries the institutional positioning that survived the rebuilding.

Alex Rivera