Updated May 12, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Byron Allen's $120M BuzzFeed Bid Hits an Empty Cap Table
Byron Allen wants 51% of BuzzFeed for $120M. The 13D/G tape says he's buying into a company NEA, Comcast, and Hearst have all already exited — a hollowed-out institutional base where the largest active holder reports under $500,000 in stock.
Alex RiveraFrontier Tarmac Fatality at Denver: Who Really Owns ULCC
A Frontier Airlines aircraft fatally struck a person at Denver International Airport — the kind of operational headline that markets price in seconds. The ULCC cap table is where the story gets interesting: founder-PE Indigo Partners holds nearly half its book in this single name.
Alex RiveraBristol Myers Bets $15B on Hengrui: BMY Active Holders Read
Bristol Myers Squibb committed $600M upfront and up to $15.2B in milestones for 13 Hengrui Pharma assets. The cap table tells you which active managers were already positioned for this kind of pipeline bet — and which weren't.
Alex Rivera13F-NT vs 13F-HR: What Notice Filings Actually Mean
Form 13F-NT is the notice filing institutional managers use when their holdings are reported in someone else's 13F-HR — or when they're invoking confidential treatment delays. Here's how to read each case without guessing.
Sarah MitchellForm 144 vs Form 4: What Each Filing Actually Tells You
Form 144 is filed before an affiliate's planned sale; Form 4 is filed after the transaction settles. Reading the gap between them is one of the cleanest insider-sale signals available — once you know how to look.
Sarah MitchellMubadala 2025Q4 13F: 90% GlobalFoundries + Bitcoin ETF
Abu Dhabi sovereign wealth Mubadala's $17.48B US 13F is 90% concentrated in one position — GlobalFoundries — with a $630M iShares Bitcoin ETF stake, Arm, NextDecade LNG, and four quantum-computing names rounding out the tail.
Marcus ChenFairfax Financial's 2025Q4 13F: Prem Watsa's Deep-Value Tape
Fairfax Financial's $2.08B US-listed 13F reads as a textbook deep-value contrarian book — Orla Mining at 20%, Occidental at 12%, and BlackBerry still anchoring at 6.35% of the holdings stack.
Marcus ChenSequoia Capital's 2025Q4 13F: $14B Vintage Class Coming Public
Sequoia's public 13F portfolio doubled the holding count and reset to a six-name IPO-vintage stack in 2025Q4 — DoorDash, Klarna, Unity, Instacart, PDD, and Figma now make up 95% of a $14B book.
Marcus ChenEric Yuan's $7M Zoom Sell: Founder's Class B Drip Continues
Eric Yuan's April Form 4 stack converted 85K Class B Zoom shares to Class A and sold at $80-84. He still holds 20.7M shares — a methodical, plan-driven distribution, not an AI-pivot vote of no-confidence.
Alex RiveraGeorge Kurtz Sells $20M of CrowdStrike on Daily Cadence
CrowdStrike CEO George Kurtz's most recent Form 4 stack shows 2,500-share daily sales at $498-528 - the unmistakable cadence of a Rule 10b5-1 plan, executing into post-outage recovery prices.
Alex RiveraEU Targets Meta's Teen Algorithm: 13F Holder Concentration Map
Brussels' new Digital Fairness Act takes aim at TikTok and Meta's recommendation engines for minors. Meta's $113B BlackRock anchor and 5,297-holder long tail set up an unusual regulatory-risk transmission path.
Alex RiveraUnited Flight Attendants Win 31% Raise: 13F Holder Reaction Map
United Airlines flight attendants ratified a contract delivering 31% raises this summer. The cost lands on a holder base concentrated in margin-sensitive active managers — including five of the top six.
Alex RiveraGameStop's $56B eBay Bid: What the 13D Tape Reveals
GameStop's $125-per-share offer for eBay was filed as an SC 13D on May 4 but rejected within days. Institutional ownership data shows why the bid was always going to be a stretch.
Alex RiveraBasic Materials Sector 2025Q4: Where Active 13F Money Sits
The Basic Materials sector's 2025Q4 13F snapshot is bifurcated. Wheaton Precious Metals draws the deepest active-manager interest at $29B of reported institutional value; the second tier of metals, packaging, and steel names trails materially. This research piece maps the sponsorship.
Marcus ChenMulti-Class Shares: Why Form 4 Table I Misses Half the Story
Form 4 Table I is the headline number readers anchor on, but for any founder-led or dual-class company it only shows part of the picture. This guide explains where the rest of insider ownership lives, how to find it, and the most common multi-class reporting mistakes.
Sarah MitchellHow to Read Rule 10b5-1 Plan Signatures in Form 4 Filings
When a CEO files a Form 4 reporting a sale, the most important question is not how much was sold but whether the broker chose the timing. This guide shows you the data signatures that distinguish Rule 10b5-1 plan trades from discretionary view-driven sales.
Sarah MitchellApple Chairman Levinson's $71M May Block: Cadence Read
Apple Chairman Arthur Levinson disposed of 250,000 AAPL shares on May 6, 2026 for cash proceeds of roughly $71.2 million. The single-day block runs 2.5 times the size of his prior quarterly cadence, and warrants closer reading than a routine plan tranche.
Alex RiveraMorningstar Founder Joe Mansueto: Decoding May Drip
Morningstar founder Joe Mansueto sold an identical 7,250-share block for five separate trading days in early May 2026. The cadence is a clean Rule 10b5-1 plan signature, and the disposition is small relative to his 37.5% beneficial-ownership disclosure.
Alex RiveraCrowdStrike CEO Kurtz: Reading the 10b5-1 Daily Drip
CrowdStrike CEO George Kurtz sold an identical 2,500-share block for four consecutive trading days in early May 2026 at prices ranging from $456 to $528. The cadence is the textbook signature of a Rule 10b5-1 plan, and it tells you more about plan design than it does about Kurtz's view of the stock.
Alex RiveraMusk's China Trip: A Read on Tesla's Cap Table
Elon Musk and Tim Cook are slated to join President Trump on a Beijing trip aimed at resetting US-China trade terms. Musk's 20.30% Tesla stake remains the largest single position on the cap table, freshly re-disclosed via SC 13G/A on April 23, 2026.
Alex Rivera