Updated May 14, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
AT&T-TMUS-VZ Coverage JV: GQG Sits 3.7% Overweight on T
AT&T, T-Mobile and Verizon announced a three-way joint venture on Wednesday to attack rural coverage dead zones. Our holder book shows where the conviction has been hiding on T while the carriers were still rivals.
Alex RiveraFord Energy Subsidiary Pop: The Quants Were Already Long F
Ford spun out Ford Energy on Wednesday to chase the AI data-center power buildout, and F stock jumped. Our holder book reveals which institutions were positioned for exactly this trade before the press release.
Alex RiveraWhy a TAMP's 13F Looks Different From a Single RIA's
Envestnet's $373B 13F has 4,703 positions and 22.7% top-10 concentration. Creative Planning's $147B 13F has 4,753 positions and 44.9% top-10 concentration. Both are large RIA-adjacent disclosures — but the shape difference says something real.
Sarah MitchellHow to Read a Sovereign or Foreign Institution's 13F
When the Swiss National Bank or Norges Bank files a 13F showing $174-935 billion in US equities, what does the disclosure actually tell you? Reading these books the same way you'd read an active hedge fund's 13F leads to wrong conclusions.
Sarah MitchellSchedule 13D vs 13G: Why the Two-Letter Difference Matters
Two SEC filings cover 5%+ beneficial ownership of US public companies. Schedule 13D and Schedule 13G look almost identical on the cover page. The two-letter difference between them is the most important distinction in the institutional ownership disclosure regime.
Sarah MitchellTD Asset's $123B 13F: A Canadian-Anchored Book Read
TD Asset Management's 2026Q1 13F discloses a $123.3B book where the second-largest position is parent-company TD Bank. The structure is a Canadian institutional book — half mega-cap US tech, half Canadian banks, energy, and rails.
Marcus ChenEnvestnet's $373B TAMP 13F: Reading the Advisor Book
Envestnet Asset Management's 2026Q1 13F discloses a $373.6B book spread across 4,703 positions — the largest visible TAMP (turnkey asset management platform) disclosure. The structure reveals how thousands of independent advisors actually allocate.
Marcus ChenSumitomo Mitsui Trust's $154B 13F: A Gold Slice on Mega-Cap
Sumitomo Mitsui Trust Group filed its 2026Q1 13F disclosing a $154.5B US equity book. The top of the book is conventional mega-cap — NVDA, AAPL, MSFT — but the 1.1% GLDM gold ETF position at $1.72B is the structural feature that distinguishes a Japanese trust bank book from a US peer.
Marcus ChenCapital Research Files Fresh 7.6% Carvana 13G as Garcia III Vests
Capital Research Global Investors filed a SC 13G on May 14, 2026 disclosing 7.60% / 10.85M Carvana shares. CEO Ernie Garcia III's recent Form 4 activity is RSU vesting plus tax-withholding, not discretionary selling. The 13D/G stack on CVNA is unusually active.
Alex RiveraHonda Scraps EV Targets: HMC's Value-Manager Holder Base
Honda is scrapping its 2030 EV sales targets after disclosing a $9B annual loss tied largely to the EV transition. The 13F record on HMC's US-listed ADRs shows a holder base dominated by deep-value managers — the exact cohort least surprised by this decision.
Alex RiveraBoeing's China Order: Fidelity Rivals BlackRock at the Top
Boeing surfaces in the Trump-Beijing summit news cycle as a China commercial-aircraft order takes shape. The 13F record on BA shows Fidelity rivaling BlackRock at the top of the book — a structural feature that matters for how the news will be priced.
Alex RiveraBiogen's Tau Drug Phase 2 Read: Three Active Holders Own 23%
Biogen released Phase 2 CELIA data for diranersen — its tau-targeting Alzheimer's candidate — showing a reduction in tau pathology with mixed cognitive endpoints. PRIMECAP, FMR, and Vanguard combined disclose 26% of shares outstanding on Schedules 13G.
Alex RiveraWhy an RIA's 13F Looks Different From a Hedge Fund's
A $147B RIA and a $30B hedge fund both file Form 13F-HR. The disclosures look completely different — top holdings, concentration shape, position count, and ticker composition. Knowing why is the difference between using 13F data productively and being misled by surface comparisons.
Sarah MitchellHow to Read a Cashless Option Exercise on Form 4
When a Form 4 shows both an option exercise (code M) and a same-day sale (code S) at the same accession number, the insider is not 'dumping stock.' This is the cashless exercise pattern — and reading it correctly is the difference between a real signal and a misleading headline.
Sarah MitchellNorthwestern Mutual Wealth's $162.4B 13F: Equal-Weight S&P Bet
Northwestern Mutual Wealth Management's 2026Q1 13F shows a $162.4B book built on ETFs — but the $5.2B Invesco S&P 500 Equal Weight (RSP) position at 3.3% is the structural tell that distinguishes this RIA from index-cap-weighted peers.
Marcus ChenCreative Planning's $147.4B 13F: How an RIA Builds Allocation
Creative Planning, the Peter Mallouk-led RIA, filed a $147.4B 13F for 2026Q1. The book reads like a model portfolio: IVV at 11.4%, BND at 6.5%, VEA at 5.6%. It's the asset-allocation industry's largest visible playbook.
Marcus ChenSwiss National Bank's $173.8B US Equity Book: A Currency Hedge
The Swiss National Bank's 2026Q1 13F discloses a $173.8B US equity book that looks exactly like what it is — a foreign-reserve hedge structured as a passive S&P 500 mega-cap portfolio. NVDA at 7.2% and AAPL at 6.3% are the franc-suppression policy expressed in equities.
Marcus ChenCharles Schwab Drips Another $22M of SCHW: 241K Shares in 9 Days
Charles R. Schwab, 10%-owner of the firm that carries his name, sold 241,643 SCHW shares for roughly $22M across nine trading days through May 1, 2026. The cadence is a clear extension of his trailing-twelve-month $157M monetization pattern.
Alex RiveraUTHR Chair Rothblatt Exercises Options, Sells $9.2M in 5 Days
Martine Rothblatt, chair and CEO of United Therapeutics, exercised 28,500 options at $146.03 and sold 16,016 shares for $9.23M across five trading sessions through May 11, 2026. The transaction profile is consistent with a cashless exercise — not a discretionary exit.
Alex RiveraWalmart Cuts 1,000 Corporate Roles: The WMT Holder Base Read
Walmart is reportedly cutting or relocating about 1,000 corporate staff. The $342.9B institutional book on file with 13F Insight shows why the move barely registers as a strategic shift for the people who own the stock.
Alex Rivera