Updated May 10, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Goldman Calls AI Overspend From a $202B Holder Base
Goldman's note flagging hyperscaler AI capex lands from a firm itself owned by 16 active managers across $202B of institutional 13F value. Here's the ownership graph behind the call.
Alex Rivera13D vs 13G Filings: What Active vs Passive Intent Really Means
Both Schedule 13D and 13G disclose 5%+ ownership, but they signal opposite things about what the filer intends to do. Three current examples — Sanders Capital, Micron, and the Stryker family — show why the distinction is doing real interpretive work.
Sarah MitchellAllianz Asset Mgmt 2025Q4: $99B Book Anchored on IVV ETF
Allianz Asset Management GmbH's 2025Q4 13F runs $98.88B across 3,553 positions, anchored on IVV at 6.16%. NVDA 5.05% is the largest single-stock active overweight.
Marcus ChenSanders Capital 2025Q4: 44 Holdings, $87B AUM, AI Stack Bets
Lewis Sanders's $86.82B fund runs 44 deep with GOOG/TSM at 22.7% of book. The 2025Q4 13F implicitly bets AI economic rent lives at foundry, search, and storage, not training.
Marcus ChenTesla Ends Model S/X for Optimus: 15 Active Holders Stay Put
Tesla ended Model S and Model X production in Q2 2026 to convert Fremont lines for Optimus. The 15-deep active-manager holder count and zero recent 13Ds tell the institutional story.
Alex RiveraMU's 38% Week: $96B Institutional Stack, 2 Quiet 13Ds
Micron jumped 38% in a week as HBM capacity sold out through 2026. The institutional stack — $96B top-five value, 16 active managers, 2 recent 13Ds — is unusual.
Alex RiveraQCOM's AI Pivot: 17 Active Holders, $1.3B Auto, $2.8B Buyback
Qualcomm CEO Amon told Fortune the company is working with OpenAI and Meta on top-secret AI devices. The institutional tape on QCOM tells the more useful story.
Alex RiveraKurtz's $6.5M CRWD Sale: Plan-Driven Inside a $5B ARR Print
CrowdStrike CEO George Kurtz sold 14,189 CRWD shares for ~$6.5M in early May under a Jan 6, 2026 10b5-1 plan. Tax-withholding accounted for nearly half.
Alex RiveraSchwab Founder Sells $22M at $91 After $106 February Tape
Charles R. Schwab disposed of 241,643 SCHW shares for $22.1M in April-May 2026 at ~$91, an acceleration from the $106 February tape. He still holds 110M+ shares.
Alex RiveraRonda Stryker's $137M SYK Trim — But She Just Reaffirmed 4%
Stryker director Ronda Stryker sold ~$137M of SYK on Feb 4-5, 2026, then filed a Schedule 13D/A on April 14 reaffirming a 15.2M-share, 4% beneficial stake.
Alex RiveraEric Yuan's $7M Zoom Sales: Plan-Driven, Not a Bear Bet
Zoom CEO Eric Yuan disposed of 85,196 ZM shares for ~$7M under a 10b5-1 plan in April. The Form 4 Table II and a Vanguard 13G reshuffle tell a more nuanced ownership story.
Alex RiveraForm 4 Transaction Codes: How to Read S, G, M, F, and 10b5-1
How to read a Form 4 transaction code without falling into the most common SEC EDGAR trap — distinguishing open-market sales from gifts, plan-driven executions from discretionary trades, and Table I from Table II ownership.
Sarah MitchellSchedule 13G/A Exit Filings: Real Exit or Reporting Move?
How to read a Schedule 13G/A that reports 0.000% ownership without falling into the most common SEC EDGAR trap — distinguishing a real liquidation from a passive-complex reporting reorganization.
Sarah MitchellArista CEO Ullal Sells ~$180M ANET Days Before Vanguard 13G
Arista CEO Jayshree Ullal sold roughly 1.06M ANET shares across April 20-22, 2026 in a plan-driven Form 4 cluster totaling ~$180M. Vanguard Capital Management filed a fresh 6.25% 13G six business days later.
Alex RiveraBezos Gifts 1.25M AMZN Shares as Vanguard Files Fresh 13G
Jeff Bezos transferred 1,253,797 AMZN shares via Form 4 gift filings on May 1 and May 4, 2026 — code G transactions, not open-market sales. Vanguard Capital Management filed a fresh 6.77% 13G six days earlier.
Alex RiveraPRIMECAP's $132B Contrarian Book: LLY 7.5% Anchors Q1
PRIMECAP filed $132.11B for Q4 2025 across just 319 positions — an 8-quarter low. Eli Lilly anchors the book at 7.54% as healthcare conviction reaches 14.6% of the portfolio ahead of the May 15 13F.
Marcus ChenD.E. Shaw's $182B Quant Book: NVDA-AMD-MU Cluster
D.E. Shaw filed $182.42B for Q4 2025 across 5,839 positions — top-10 just 18.8%. The AI-semis cluster (NVDA + AMD + MU + AVGO) totals 7.4% of the quant book ahead of the May 15 Q1 2026 13F print.
Marcus ChenCapital Group's $542B Active Sleeve: RTX and LLY Lead Q1
Capital Research Global Investors filed $541.73B for Q4 2025 across 434 positions — top-10 at 38.9%. RTX at $13.96B and LLY at $26.40B reveal the active conviction layer ahead of the May 15 Q1 2026 13F print.
Marcus ChenCitadel's $666B Q4 Tells: TSLA and NVDA Lead Q1 Watch
Ken Griffin's Citadel Advisors filed $665.87B for Q4 2025 across 15,403 positions. SPY and QQQ together total ~12.8% of the book — the hedge layer that frames TSLA and NVDA's active conviction sizing ahead of the May 15 Q1 2026 13F print.
Marcus ChenCohen Pivots from GME to $56B eBay Bid as Vanguard Exits
Ryan Cohen filed three GameStop Schedule 13D amendments inside two weeks of January 2026, then pitched a $56B eBay offer. Vanguard's March 26 13G exit closes the picture.
Alex Rivera