Updated Apr 17, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Why Form 4 Table I and Table II Can Tell Two Different Ownership Stories
A Form 4 can show direct Class A sales in Table I while Table II still reveals millions of derivative or indirect shares. Here is how to read both tables without making a false “owns zero shares” claim.
Sarah MitchellVictory Capital Q1 2026 Preview: The $177B Portfolio’s Biggest New Push Was Not Just Nvidia
Victory Capital kept mega-cap tech on top in Q4 2025, but the sharper signal was in the secondary moves: large increases in Netflix, Constellation Energy, TSMC and new positions like IQVIA. The next filing will show whether that diversification continues.
Marcus ChenUnited Therapeutics CEO Martine Rothblatt Sold About $2.2M in March 2026 as UTHR Sat Near Record Results
United Therapeutics CEO Martine Rothblatt sold roughly $2.2 million of UTHR stock across visible March 2026 Form 4 sale lines. The trades landed after the company reported record 2025 revenue and while UTHR still traded at $580.51 on April 17, 2026.
Alex RiveraRoku Founder Anthony Wood Sold Class A Shares on April 16, 2026, but Form 4 Still Showed 16.27M in Table II
Roku founder Anthony Wood sold 25,000 Class A shares on April 16, 2026 for about $2.8 million, but the same filing still showed 16.27 million shares in Form 4 Table II. The trade landed while Roku stock held above $111 after a profitable 2025 finish.
Alex RiveraRaymond James Q1 2026 Preview: ETFs, XLK and XLE Are Telling the Story in a $321B Portfolio
Raymond James used Q4 2025 to keep broad ETF exposure high through VOO, AGG, SPY and IEFA while also adding to sector sleeves such as XLK and XLE. The next filing will show whether that balanced ETF-heavy structure remains the preferred setup.
Marcus ChenPrincipal Financial Q1 2026 Preview: A Slight AUM Dip Hid Big Moves in Netflix and Brookfield
Principal’s Q4 2025 filing looked slightly weaker on headline AUM, but the internal rotation was more revealing: Brookfield became a top-ten position, Netflix surged, and the fund cut back in parts of real estate. The next filing will show whether that shift keeps going.
Marcus ChenNuveen Q1 2026 Preview: A $381.9B Giant Added Credit and Bond ETFs Without Abandoning AI
Nuveen’s Q4 2025 filing stayed large-cap and AI-heavy at the top, but the more revealing addition was a sizable fixed-income sleeve through NXUS and NHYB. The next filing will show whether those credit and bond ETFs remain central or fade back out.
Marcus ChenJanus Henderson Q1 2026 Preview: A $223B Growth Book Added Intuitive Surgical and Biotech Risk
Janus Henderson kept Nvidia and Microsoft on top in Q4 2025, but the more interesting signal was underneath: new exposure to Intuitive Surgical, Protagonist Therapeutics and other growth-healthcare names. The next filing will show whether that rotation keeps building.
Marcus ChenIndex Allocator or Stock Picker? How to Tell What a 13F Manager Really Is
Some 13F filers are better read as asset allocators, while others are better read as concentrated stock pickers. Here is how to tell the difference quickly and why the distinction matters.
Sarah MitchellHow to Build a 13F Watchlist Before the Next Filing Deadline
The best 13F research starts before the filing arrives. Here is how to use the last quarter’s holdings, concentration, new positions and ETF sleeves to build a smarter watchlist ahead of the next deadline.
Sarah MitchellHow ETF and Bond Sleeves Change the Way You Read 13F Conviction Signals
A portfolio packed with ETFs and bond funds should not be read the same way as a concentrated stock-picking book. Here is how ETF sleeves change position-level meaning inside a 13F.
Sarah MitchellFisher Asset Management Q1 2026 Preview: Why a $20B Bond ETF Sleeve Now Matters More Than One Stock
Fisher’s Q4 2025 filing was still packed with mega-cap tech, but the bigger tell was a giant Treasury and investment-grade corporate bond sleeve built through IEF and VCIT. The next filing will show whether that duration bet was tactical or structural.
Marcus ChenDodge & Cox Q1 2026 Preview: Brookfield, TransUnion and PDD Broke a Flat Quarter
Dodge & Cox’s Q4 2025 filing barely moved on headline AUM, but the underlying changes were more interesting: fresh positions in Brookfield, TransUnion and PDD inside a still-diversified value book. The next filing will show whether those adds were conviction moves or just incremental reshuffling.
Marcus ChenDatadog CTO Alexis Le-Quoc Sold About $3.7M on April 6, 2026 as DDOG Stayed in the AI Trade
Datadog CTO Alexis Le-Quoc exercised options and sold multiple DDOG lots on April 6, 2026 for roughly $3.7 million. The stock still traded at $123.47 on April 17, 2026 as investors kept focusing on Datadog’s AI and enterprise growth story.
Alex RiveraCalPERS Q1 2026 Preview: The $174.9B Pension Book Leaned Harder Into VOO and Mega-Cap Tech
CalPERS used Q4 2025 to keep broad-market exposure high through VOO while still adding to Nvidia, Microsoft, Alphabet and Broadcom. The next filing will show whether the pension giant keeps that simple beta-heavy structure or rotates again.
Marcus ChenAQR Q1 2026 Preview: A $190.6B Quant Giant Just Added 69 New Positions
AQR’s Q4 2025 filing kept expanding, with AUM rising to $190.63B, 69 new names, and a dramatic Bristol Myers build inside an already broad book. The next filing will show whether the quant giant keeps pressing this expansion or starts normalizing the roster again.
Marcus ChenAmerican Century Q1 2026 Preview: Netflix, CEG and New Adds Changed the Shape of a $199B Book
American Century’s Q4 2025 filing kept Nvidia and Microsoft on top, but the more revealing changes were the big Netflix increase, fresh utility and industrial additions, and a continued AI-heavy core. The next filing will show whether those side bets keep scaling.
Marcus ChenAllianceBernstein Q1 2026 Preview: Intuitive Surgical and Netflix Rose as the Next Watchlist Names
AllianceBernstein kept Nvidia, Microsoft and Amazon on top in Q4 2025, but new exposure to Intuitive Surgical and aggressive increases in Netflix and ServiceNow made the next filing more interesting than another mega-cap recap. Here is what to watch.
Marcus ChenBerkshire Hathaway Q1 2026 Watchlist: After Verisign and Liberty Adds, What Does Buffett Do Next?
Berkshire ended Q4 2025 with a $274.16B U.S. equity portfolio, steady Apple and American Express stakes, and a fresh set of Verisign, Liberty and New York Times positions. The next filing will show whether those adds were the start of a new sleeve or just tactical cleanup.
Marcus ChenCloudflare CEO Matthew Prince Sold About $3.3M on April 8, 2026, but 13G Still Pointed to 7.7% Ownership
Cloudflare CEO Matthew Prince sold multiple NET lots on April 8, 2026 for roughly $3.3 million. The stock still traded at $197.38 on April 17, 2026, and recent 13G filings still associated Prince with about 7.7% beneficial ownership.
Alex Rivera