Updated May 24, 2026 · 2142 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Index Inclusion and Institutional Ownership Explained
When a stock joins the S&P 500, every index fund must buy it, regardless of price. Learn how that mechanical demand reshapes ownership and float, and why a jump in institutional ownership around an inclusion date is not a vote of confidence.
Sarah MitchellReading 13F Holdings Alongside Short Interest
A 13F shows only long positions, leaving you blind to who's betting against a stock. Pair it with short interest and you can spot battleground names, crowded trades, and squeeze setups that neither data set reveals on its own.
Sarah MitchellDo Stocks Rise After a 13F Is Filed? The Lag Problem
Can you profit by copying what the smart money bought? The 45-day reporting lag means you're reading stale positions, and the research on post-filing drift is sobering. Learn why filings are a research starting point, not a real-time buy list.
Sarah MitchellRelative-Value Investing: The Flat-Weighted Value Approach
Relative-value managers don't chase the single most undervalued stock; they assemble a flat basket of names cheap versus their own history and peers. Learn how to spot the style in a 13F and why the largest position isn't the signal you think it is.
Sarah MitchellQuality Growth vs Deep Value: Two Kinds of Value Investing
Both deep value and quality growth want to pay less than a business is worth, but they disagree on where worth comes from. Learn how to tell the two camps apart in a 13F, and why the same ticker can be a very different bet depending on who owns it.
Sarah MitchellWhat Is a Margin of Safety? The Core of Value Investing
Benjamin Graham called margin of safety the three most important words in investing. It means buying below a conservative estimate of value so that ordinary errors cost your buffer, not your principal, and it leaves clear fingerprints in how value managers hold.
Sarah MitchellSound Shore 13F (2026 Q1): A Balanced Large-Cap Value Book
Sound Shore runs a flat, 40-stock relative-value book where no position tops 4%. Its 2026 Q1 filing pairs a genuinely steady asset base with an active rotation, trimming Teva and Citigroup while adding to healthcare and select technology names.
Marcus ChenHarding Loevner 13F (2026 Q1): A Global Quality-Growth Book
Harding Loevner hunts for quality growth wherever it trades. Its 2026 Q1 book spans Taiwan Semiconductor, ASML, MercadoLibre, Ryanair and HDFC, and the reliable signal is the share-count moves: trims in semis and Indian banking, adds in rail and transport.
Marcus ChenTweedy Browne 13F (2025 Q4): A Graham-Lineage Global Value Book
Tweedy Browne traces straight back to Benjamin Graham, whose trades the firm once brokered. Its 2026 Q1 US sleeve is a global-value lineup, CNH Industrial, Coca-Cola FEMSA, Berkshire, with a big CNH add and an Ionis trim, and it understates a far larger international book.
Marcus ChenBrave Warrior 13F (2026 Q1): Glenn Greenberg's Concentrated Book
Glenn Greenberg runs Brave Warrior the way he has invested for four decades: a short list of businesses sized so that being right truly matters. His 2026 Q1 book holds just 36 names, with the top ten near three-quarters of value and a decisive new ICON plc stake.
Marcus ChenReading REIT and Real-Estate Exposure in a 13F
REITs trade on rates, rents, and property cycles, not normal earnings. Here's what a fund's real-estate exposure signals and why the type of REIT matters.
Marcus ChenPatient Investing: Time Horizon as an Edge
A longer time horizon is one of the few durable edges in markets. Here's why patience pays, how it shows up in a 13F, and why it's so rare.
Sarah MitchellTotal Shareholder Yield: Beyond the Dividend
Dividend yield is only half the story. Total shareholder yield adds buybacks — here's why it reframes how you read a fund's income and capital-return tilt.
Sarah MitchellCyclical vs Defensive: A Fund's Economic Tilt
Whether a 13F leans cyclical or defensive reveals a fund's implicit economic view. Here's the split, what each tilt signals, and how to read shifts between them.
Marcus ChenThe Value-Investing Lineage: Graham to Buffett to Today
Value investing has a family tree — from Graham to Buffett to the Sequoia school. Here's how that shared DNA shows up across value managers' 13Fs.
Marcus ChenMid-Cap Investing: The Overlooked Middle Ground
Between megacaps and small-caps lies the mid-cap sweet spot. Here's what mid-cap investing is, why managers favor it, and how a mid-cap 13F reads.
Sarah MitchellValue Traps: When Cheap Stocks Stay Cheap
The biggest risk in value investing isn't overpaying — it's the value trap, a cheap stock that's cheap for a reason. Here's how to spot one in a value 13F.
Sarah MitchellGiverny Q1 2026: A Sequoia-Lineage Quality Book
David Poppe's Giverny Capital holds a concentrated quality-compounder book — Berkshire, Alphabet, Heico — and trimmed Berkshire and Ametek in Q1 2026.
Marcus ChenSmead Q1 2026: A Contrarian Bet on Energy and Malls
Smead Capital's contrarian value book leans hard into energy, mall REITs, and homebuilders. In Q1 2026 it trimmed the whole book ~13% on outflows, thesis intact.
Marcus ChenAriel Q1 2026: John Rogers' Patient Mid-Cap Value Book
Ariel Investments' contrarian mid-cap value book — MSG Entertainment, JLL, Affiliated Managers — held steady in Q1 2026, true to John Rogers' patient style.
Marcus Chen