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.
Alibaba's Earnings Print Lands on a Market-Maker-Heavy Book
Alibaba's quarterly revenue release moves the tape — but the 13F record on BABA shows a holder base built on options market-makers and a thin layer of true active conviction. Reading the print without that context misses the structure.
Alex RiveraCisco Posts Record Revenue, Cuts 4,000 Jobs — Who Owns CSCO Now
Cisco delivered record fiscal Q3 revenue and announced a 4,000-job restructuring on the same day. The institutional holder base on file with 13F Insight shows why this combination makes sense to the people who own the stock.
Alex RiveraBridgewater Q1 2026 13F Preview: The Dalio Watchlist — What 1,040 Holdings Actually Tell You
Bridgewater's Q4 2025 13F showed a +102.2% QoQ jump, $27.42B AUM, and an ETF-heavy top book. Here's what to watch in its Q1 2026 filing due May 15.
Marcus ChenPE Sponsor's 13F: A Disposition Schedule, Not a Portfolio
PE sponsors' 13F-HR filings have 5-20 positions, single-name weights of 30-70%, and AUM that can swing 30-50% quarter to quarter. Reading them with active-manager habits is the most common analytical mistake. Here's the right framework.
Sarah MitchellWhy a $50B Endowment Shows Only $2B on Form 13F
University endowments routinely manage tens of billions of dollars, yet their Form 13F filings often disclose under 5% of that figure. The reason is structural: Form 13F only captures one specific slice of an investment book.
Sarah MitchellMansueto Drip-Sells $4.6M of MORN Across 5 Days; Owns 37.5%
Morningstar founder Joseph Mansueto sold $4.6 million of MORN across five trading days from May 6-12. The microlot execution pattern reads as a plan, not conviction — and the 13G shows him still at 37.5%.
Alex RiveraJohn Hess Trims Another $36M of CVX Post-Merger; 658K Shares Left
John Hess, the former Hess Corp CEO who became one of Chevron's largest individual holders via the 2024 merger, sold $36 million of CVX on May 6. After the trim he holds 658,045 shares — down from over 1.4 million last August.
Alex RiveraSoftBank Vision Fund Q4 2025: 88% of $9.99B in Coupang + Grab
SB Investment Advisers' Q4 2025 13F-HR shows $9.99B across 10 names, with 88% concentrated in Coupang (68.3%) and Grab Holdings (20.1%). The long tail is busted-IPO biotech and frontier tech.
Marcus ChenBain Capital Q4 2025 13F: $4.62B, COHR at 39%, Healthcare Heavy
Bain Capital Investors discloses a $4.62B Q4 13F-HR concentrated in 7 names: COHR at 39%, four mid-cap healthcare names at 54%, NTNX at 6%. The book reads like a public-equity wrapper around Bain's PE conviction list.
Marcus ChenHarvard Management Q4 2025: $2.08B 13F-HR with 12.78% in IBIT
Harvard's investment office surfaced a $2.08B 13F-HR for Q4 2025 after years of 13F-NT filings — and the 19-position portfolio reads as a deliberate barbell: 12.78% in IBIT (spot Bitcoin) and 11.94% in GLD (gold), wrapped around a mega-cap tech core.
Marcus ChenGameStop's Unsolicited eBay Bid Rejected: Read the 13D Tape
eBay's board rejected Ryan Cohen's unsolicited GameStop bid with six bullet points. The five recent 13D filings on GME and the holder overlap between the two books explain why this was always more about Cohen's leverage than eBay's standalone value.
Alex RiveraHey Rivian: AI Assistant Ships Into a Book Anchored by Amazon
Rivian's voice assistant rollout lands on an 861-holder institutional base where Amazon's $2.4B stake dwarfs every active manager, and Baillie Gifford remains the lone concentrated growth name still leaning in.
Alex RiveraGOOGL Gemini Android Push Lands on a Passive Holder Base
Google's Gemini Intelligence preview for Android 17 arrived a month before iOS 27, but a look at Alphabet's 5,839 institutional holders shows the top of the book is dominated by index mandates, not AI conviction.
Alex RiveraWhy Insurer 13F Tech Concentration Differs From Hedge Funds
When you see Legal & General Group reporting NVDA at 7.23% of its US 13F book, the instinct is to read it as a conviction tilt. The reality is much closer to a cap-weighted index sleeve. This guide explains why insurer 13F concentration looks high but isn't.
Sarah MitchellBroker-Dealer 13F vs Active Manager 13F: How to Tell Them Apart
Reading a 13F filing as a list of conviction trades works only when the filer is an active manager. For broker-dealers, custodians, and platform RIAs, the same document is a customer-account aggregate. This guide shows how to tell them apart.
Sarah MitchellReading 10b5-1 Plan Footnotes on Form 4 Filings
When a CEO sells stock, the question is rarely 'how much' — it is 'is this discretionary or pre-arranged?' This guide walks through how to read the Rule 10b5-1 plan footnote on a Form 4 and what it actually changes about the signal.
Sarah MitchellUBS Group Q1 2026 13F: $666B Book Adds QQQ, Builds Gold
Swiss banking group UBS filed a 2026Q1 13F-HR with $666 billion in reported US equity value. Two threads stand out in the QoQ deltas: a fresh top-five QQQ position at $10.5B, and a 21% increase in GLD share count — the inflation hedge moving alongside the growth-ETF add.
Marcus ChenLPL Financial Q1 2026 13F: $377B in Client ETFs, QQQ Added
LPL Financial's first-quarter 2026 13F-HR is the largest broker-dealer custody view in our data set: $376.6B in reported value, dominated by index ETFs held on behalf of platform clients rather than discretionary stock picks. The Q1 file added QQQ as a fresh top-three position.
Marcus ChenLegal & General Q1 2026 13F: $432B Book, NVDA at 7.2%
UK insurer Legal & General Group's first-quarter 2026 13F-HR shows a $432.4 billion US equity book that runs an unusually concentrated mega-cap tech overlay for an insurance balance sheet. NVDA tops the list at 7.23% of reported value; AAPL sits at 6.73%.
Marcus ChenApple Chairman Arthur Levinson Sells $71M of AAPL in May 2026
Apple Board Chairman Arthur D. Levinson sold 250,000 AAPL shares on May 6, 2026, at an average price near $284.80 — roughly $71.2 million in proceeds. He still holds 3.82 million Class A shares. The cadence and timing are worth a closer read.
Alex Rivera