Updated May 11, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
AMD Q1 Skepticism: What 3,274 Holders Reveal Beyond the Tape
A widely-shared TipRanks piece quoted a top investor calling AMD's post-earnings stock action 'no sense.' The 3,274-name institutional holder base tells a more textured story: passive money dominates, but Citadel, Norges Bank, Fidelity and a thin layer of active managers still control multi-billion-dollar conviction sleeves.
Alex RiveraMechanical vs View-Driven Holders: Reading 13F Beyond Top Five
BlackRock, Vanguard, and State Street appear at the top of nearly every large-cap institutional holder list. Reading their presence as 'smart money endorsement' is a category error. This guide covers how to distinguish mechanical index-driven ownership from view-driven active conviction.
Sarah MitchellWhen 13F Position Counts Swing: Portfolio Rebuild vs Rotation
Hedge fund 13F position counts often swing dramatically across quarters, and the dollar AUM swing usually distracts retail readers from the more useful signal — what the changing position count says about manager intent. This guide breaks down the diagnostic patterns with current examples.
Sarah MitchellHow to Spot a Rule 10b5-1 Plan Sale in Form 4 Filings
Insider sales filed on Form 4 often look identical at the dollar-headline level but split cleanly between plan-driven and discretionary at the mechanics level. This guide covers the structural signatures retail investors can use to tell them apart.
Sarah MitchellJayshree Ullal Sells $135M of ANET in 72 Hours: 17.8M Shares Left
Arista Networks CEO Jayshree Ullal disclosed roughly $135 million of ANET sales across three consecutive trading days in April 2026. The structural pattern of 20 lots distributed across multiple price points and her remaining 17.78M-share position suggest a Rule 10b5-1 plan execution rather than a directional exit.
Alex RiveraJoe Mansueto Sells $3.7M MORN in 3 Days: Plan-Driven or Bearish?
Joe Mansueto's $3.7M of Morningstar stock sales over three trading days look like classic Rule 10b5-1 plan executions — small lot sizes, distributed across many limit prices. With the Mansueto family still holding roughly 47% of MORN combined, the relevant question for retail is not whether the founder is exiting, but what active institutional holders Select Equity and Baron Capital are doing alongside.
Alex RiveraWindacre Doubled to $9.3B in 2025Q4: Top Bets Are ROP, FNF, AMZN
Windacre Partnership LLC reports a $9.32B long-equity book in 2025Q4, up 109.8% from a 6-position $4.44B cash-heavy stance in 2025Q3. The new 13-position portfolio is led by Roper, Fidelity National Financial, and Amazon, with no single position above 15% — a quality-focused construction we unpack against the broader hedge fund universe.
Marcus ChenAltimeter Capital 2025Q4: 23% NVDA Bet, Top Four Are 58% of Book
Brad Gerstner's Altimeter Capital reported $6.66B in 2025Q4 13F value across just 18 positions, with NVIDIA at 22.68% of book and the top four positions accounting for 57.91% of AUM. We unpack the concentration profile, the AUM swing pattern, and how Altimeter compares to the focused-tech peer set.
Marcus ChenOracle's $16B Michigan AI Build: Where the Active Money Sits
Oracle and OpenAI's $16 billion Michigan data center cleared local objections through a developer override. We pulled ORCL's 13F holder base to see who is actually paying for the AI infrastructure capex cycle.
Alex RiveraCarl Icahn Holds $153M JBLU Stake as JetBlue Grabs Spirit's FLL
JetBlue absorbing Spirit Airlines' Fort Lauderdale routes is the surface story. Underneath, JBLU's 13F holder list shows Carl Icahn at $153M and a 10% activist 13D from Vladimir Galkin — two filings that reframe what consolidation means for the stock.
Alex RiveraApollo Eyes $3B Credit Fund Sale: What APO Holders Show
WSJ reports Apollo Global Management is shopping a $3 billion private credit fund. We pulled APO's 13F holder base, 13D/G filings, and the disclosed insider stake to see what the smart money is signaling beneath the headline.
Alex RiveraPost-Merger Founder Form 4s: Why Acquirer Selling Isn't Bearish
After a stock-funded merger closes, founders of the acquired company suddenly appear as Form 4 sellers of the acquirer's stock. Here's how to read that cycle without misinterpreting it as a bearish signal.
Sarah MitchellReading a PE-Firm 13F: When 99% in One Stock Means Distribution
PE-firm 13Fs look bizarre on first read — sometimes 95% or more of disclosed value sits in a single stock. The explanation is structural: you're looking at post-IPO retained equity, not a portfolio.
Sarah MitchellThoma Bravo's Q1 2026 13F Is 95.5% SailPoint — and Nothing Else
Thoma Bravo's Q1 2026 13F is the cleanest single-position post-IPO retained-equity disclosure of the cycle: 95.5% in SailPoint (SAIL), with N-able and ServiceTitan filling the rest.
Marcus ChenCarlyle's Q1 2026 13F Is a PE Exit Pipeline in Plain View
Carlyle Group's Q1 2026 13F is a $10.62B portfolio where Medline and StandardAero alone account for 99.0% of disclosed value. The filing is best read as a PE exit pipeline tracker, not a public-equity research book.
Marcus ChenMorningstar Founder Mansueto Trims MORN Daily — Still Holds 37.5%
Joe Mansueto, Morningstar's founder, sold MORN shares every trading day in early May 2026. The cadence looks like a 10b5-1 drip; the latest 13G/A still shows him at 37.5% beneficial ownership.
Alex RiveraHess Founder Sells $36M Chevron Stock in Post-Merger Cycle
John Hess sold roughly $36M of Chevron stock on May 6 — his single-largest CVX disposition since the Hess Corp merger consideration converted in July 2025. The Form 4 cadence tracks the post-merger founder unwind.
Alex RiveramacOS 27 Leaks: Apple's $62B Berkshire Anchor Hasn't Budged
MacRumors leaked two more macOS 27 design changes ahead of WWDC. The platform-refresh news lands against an Apple cap table where Berkshire's $62B position remains the most-watched discretionary anchor.
Alex RiveraTesla Kills Model S and X — Musk Just Refiled His 20.3% Stake
The last Tesla Model S and Model X just rolled off the production line. Eight days before, Elon Musk re-filed his 20.3% Schedule 13G/A. Here's what the institutional ledger reveals about Tesla's pivot.
Alex RiveraMicron's Real Owners Aren't Buying the $50 AI Memory Pitch
While retail readers get pitched cheap memory-stock exposure for $50, the institutional ledger shows Capital Group, PRIMECAP, and Fidelity sitting on $41B+ of patient-money MU positions built years before the supercycle headlines.
Alex Rivera