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.
Google's Googlebooks Bet: Reading the 13F Tape
Google has unveiled Googlebooks, a line of AI-native laptops built around Gemini. The institutional ownership tape behind Alphabet is one of the deepest on the market, and the most recent 13D/G filings reveal a still-relevant Brin stake plus the same Vanguard passive consolidation we are seeing on every mega-cap name.
Alex RiveraBristol-Myers' $15.2B Hengrui Deal: Holder Read
Bristol-Myers Squibb has signed a licensing agreement with Hengrui Pharma worth up to $15.2 billion across 13 assets. The 13F ownership data shows two deep-value houses already running outsized concentrated positions in BMY before the pact landed.
Alex RiveraGM Cuts 500-600 IT Jobs: What Value-Fund Holders See
General Motors is laying off 500 to 600 information technology employees as it shifts work toward AI tooling. The 13F holder base tells a more nuanced story: a handful of value-oriented active managers continue to run outsized weights in the stock, and Vanguard just filed a new 13G disclosing 7.47% ownership.
Alex Rivera10b5-1 Plan Sales vs Discretionary: How to Read Form 4
Half of all 'CEO dumps stock' headlines are mechanical 10b5-1 plan executions, not discretionary conviction signals. A practical guide to spotting plan-driven sales in the Form 4 record and finding where real insider signal lives.
Sarah Mitchell13F 'NEW Position' Labels: 3 Causes, Only One Is a Real Buy
The 'NEW position' label on 13F filings has three different underlying causes — only one of which is a genuine new buy. Misreading the label overstates a fund's directional activity. Decision tree + structural artifact examples.
Sarah MitchellGeneration IM Q4 2025: 33-Name Quality Book, MSFT at 14%
Al Gore's Generation Investment Management reported $14.42B at Q4 2025 across just 33 positions. MSFT at 13.85% and DHR at 12.05% define the book — sustainability lens applied to quality compounders, not pure-play clean energy.
Marcus ChenPoint72 Q4 2025: $89B AUM Jump, Tech-Heavy Book with ETF Hedges
Steve Cohen's Point72 reported $89.42B at Q4 2025 — up 49.6% QoQ on a position count jump from 2,263 to 3,862. Tech-heavy book stapled to $4.5B in SPY + QQQ ETF hedges.
Marcus ChenJohn Hess Sells $36M CVX Post-Merger: Cadence Read
John Hess sold $36M of CVX across May 6-7, 2026 — his second large post-merger distribution after a similar $35M November 2025 window. Cadence is consistent with a programmed founder liquidity plan, not opportunistic timing.
Alex RiveraJoe Mansueto's MORN May Sale: 37.5% Founder Stake Intact
Morningstar founder Joseph Mansueto sold ~$900K of MORN on 2026-05-07 across 8 micro-lot prints. His 13G beneficial ownership remains 37.5% (14.9M shares), with brother Daniel at 9.5% — a 47% combined family stake.
Alex RiveraCharles Schwab Sells $19M SCHW: Plan-Driven Cadence Read
Charles Schwab, the 88-year-old founder, sold $19.1M of SCHW Class A across 5 sessions in late April-May 2026 — at meaningfully lower prices than February. Holds 110M+ shares total via Form 4 Table I and Table II.
Alex RiveraRVMD Pancreatic Data: Nextech's 58% Portfolio Bet Validated
Revolution Medicines' daraxonrasib data suggests doubled survival in pancreatic cancer. The 13F filings reveal a holder base built around exactly this thesis: Nextech Invest at 58.5% portfolio weight, Paradigm Biocapital at 13.5%, Alphabet at $320M.
Alex RiveraSAP Sapphire 2026 AI Suite: WindAcre's 6.39% Conviction Bet
SAP's Autonomous Enterprise AI launch at Sapphire 2026 lands on a holder base with one defining tell: WindAcre Partnership runs SAP at 6.39% of its entire portfolio, treating the AI thesis as a top-three position.
Alex RiveraAmazon 30-Minute Delivery: How AMZN Active Holders Are Positioned
Amazon's 30-minute delivery rollout lands on a holder base where 16 of the top 20 institutional positions are active conviction money — not index flow. Fidelity and Capital Research lead with portfolio weights above 3.8%.
Alex RiveraUTHR Counsel Paul Mahon Banks $14.4M Across Three Sessions
Paul Mahon, United Therapeutics' EVP and General Counsel, has run a biweekly exercise-and-sell cadence across three Form 4 filings — April 2, April 16, and May 7. Each session: 8,300 options exercised at a $146.03 strike, 8,300 common shares sold at $565-$597. Combined April-May proceeds: $14.4M.
Alex RiveraArista CTO Ken Duda's April 17: $9.5M Across 58K Shares
Ken Duda, Arista Networks' President and CTO and a co-founder, filed Form 4 on April 21, 2026 disclosing an April 17 exercise-and-sell cascade: 64,000 options exercised at a $15.2625 strike and 58,000 common shares sold at $161.18 to $164.86. Lifetime ANET sells now exceed $747.8M.
Alex RiveraWhy First Eagle Just Put $16.6B in One MSTR Convert
First Eagle Investment Management's Q1 2026 13F lists a $16.59B position in MicroStrategy's zero-coupon 2029 convertible notes — 21.95% of the $75.57B portfolio. The equity book underneath remains the classic First Eagle value tape. The convertible is a layered, separable bet, and reading the filing requires treating it as two distinct portfolios under one CIK.
Marcus ChenAdage Capital's $66B Q4: 905 Holdings, Mega-Cap Anchored
Adage Capital Partners filed Q4 2025 at $66.08B across 905 positions. The top 10 sums to 33.2% of the book and reads like an S&P 500 mega-cap pull. The active expression lives in the 895-name tail — a structural feature of how the fund is built, not a bug.
Marcus ChenAlkeon Capital Q4 2025: $63B Rebuild, 47% in SPY+QQQ
Alkeon Capital Management filed its Q4 2025 13F at $63.13B — an 83.7% rebound from Q3's $34.36B. The headline number isn't the AUM swing. It's that SPY and QQQ together account for 47.03% of the entire reported portfolio. The active book underneath tells a quieter and more specific story about semis, cloud, and AI capex.
Marcus ChenSanofi Sits in Inhibrx's Top 5 as Phase 2 Lands: M&A Read
Inhibrx Biosciences reported midphase results for INBRX-106 paired with Keytruda. The headline is the data. The story behind the data is the holder file — Sanofi's strategic stake, Perceptive and Viking's biotech-specialist sizing, and what the 13G ownership thresholds say about who is positioned for a take-out.
Alex RiveraTexas v. Netflix Children-Data Suit: What Active Holders See
Texas Attorney General Ken Paxton filed suit against Netflix on May 11, alleging unlawful collection of children's data and use of "addictive" engagement features. Behind the regulatory headline sits 3,789 institutional holders. The active discretionary money — Fidelity, Citadel Advisors, and a long active tail — is what actually prices this risk.
Alex Rivera