Updated Mar 30, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
1832 Asset Management's $131B Q4 Portfolio: 114 New Positions and a 39% Internal Fund Anchor
Scotiabank's $131.31B investment arm entered 114 new positions in Q4 2025 while trimming its dominant internal fund by 25% — one of the most aggressive quarterly reshuffles among top-100 filers.
Marcus ChenSchroders' $130B Q4 2025 Portfolio: GOOGL Overweight at 6% and a Deep-Value Rotation Signal
The 220-year-old London-based asset manager's US equity book reveals a distinctly European conviction — GOOGL as the #3 holding at 6.03%, plus aggressive adds in TEVA (+261%), CX (+406%), and new global commodity ETF positions.
Marcus ChenCalPERS Put $19.81B in a Single ETF: Inside America's Largest Pension Fund's Q4 2025 Concentration Play
CalPERS' latest 13F reveals $174.90B in reported AUM with VOO at 11.89% — nearly $20B in one S&P 500 ETF. Combined with NVDA at 8.55%, the top-2 holdings account for 20.44% of this pension giant's portfolio.
Marcus ChenMillennium Management's $237.79B Q4 2025 13F: ETF-Heavy Hedging, WMT +679%, and a $1.83B Bitcoin Bet
Israel Englander's multi-strategy giant allocated $34.15B to broad ETFs (IWM, IVV, QQQ, SPY) — the signature of pod-based beta hedging — while making outsized bets on WMT (+679% shares) and Bitcoin via IBIT.
Marcus ChenArrowstreet Capital's $170B Quant Machine Cut Apple 38% and Doubled Google: Inside Q4 2025's Biggest Factor Rotation
Arrowstreet Capital's systematic models triggered one of Q4 2025's most aggressive Apple trims (-38% shares) while more than doubling Google. With 93 new positions and $170.74B in 13F assets, here's what the quant signals are saying.
Marcus ChenMFS's $310B Shrinking Empire: America's Oldest Fund Dumps Growth Stalwarts, Loads Up on NFLX (+431%) and SNOW (+446%)
Massachusetts Financial Services has seen AUM decline from $334B to $310B over 8 quarters — yet the 100-year-old fund is making its most aggressive portfolio rotation in years, slashing DXCM (-86%), TEAM (-80%), and VEEV (-78%) while piling into streaming and cloud.
Marcus ChenUBS AM Q4 2025: $472B Giant Pushes NVDA to 8.13% — Highest Among Top-20 Global Filers
UBS Asset Management's $472.97B portfolio reveals aggressive mega-cap tech concentration with NVDA at 8.13% weight, a $2.2B real estate exit from PLD and EQIX, and a staggering +1,064% increase in Netflix shares.
Marcus ChenJanus Henderson's $223B Portfolio Churned 134 Positions in Q4 2025: Inside the Biotech Pivot
Janus Henderson (WhaleScore 75.50) opened 67 new positions while exiting 67 in Q4 2025 — a 13.4% turnover rate signaling active repositioning. New biotech/med-device bets (ISRG, GPCR, PTGX) hint at a healthcare conviction thesis.
Marcus ChenDeutsche Bank's $307B US Equity Book: Trimming Big Tech Winners, Loading NFLX +968%
Deutsche Bank AG's Q4 2025 13F reveals a systematic rebalancing at $307B AUM — cutting GOOGL (-14%), META (-11%), and AVGO (-10%) while loading Netflix shares by 968% and ServiceNow by 386%.
Marcus ChenTwo Protagonist Therapeutics Insiders Sold More Than $8M as Trial Milestones Moved the Story Forward
Two Protagonist Therapeutics insiders sold more than $8M of PTGX stock in late March as the biotech moved deeper into a milestone-rich phase with regulatory and trial catalysts ahead.
Alex RiveraTempus AI CEO Eric Lefkofsky Sold $7.7M in March as 2026 Growth Expectations Stayed Hot
Tempus AI CEO Eric Lefkofsky sold roughly $7.7M of TEM stock in late March, but the transaction landed while Tempus was still carrying strong 2026 growth expectations and heavy analyst attention.
Alex RiveraPBF Energy Chairman Thomas Nimbley Sold $2.6M After an Option Exercise as Refining Margins Recovered
PBF Energy chairman Thomas Nimbley sold about $2.6M of stock after exercising options, a filing that arrived as PBF talked about better gross refining margins and a Martinez restart.
Alex RiveraKlaviyos Andrew Bialecki Sold $3.6M in Class A Shares but Kept His Control Stake
Klaviyo co-founder Andrew Bialecki sold $3.6M of Class A shares in March, but the filing still showed a dominant control position through other share classes and structures.
Alex RiveraBarry Dillers IAC Bought $37.2M of MGM Stock in Two Days
IAC bought roughly $37.2M of MGM stock across two March filings, extending Barry Dillers long-running accumulation into a period of improving BetMGM and 2026 optimism.
Alex RiveraHPE CEO Antonio Neri Sold $6.7M as Juniper Integration and AI Networking Took Center Stage
HPE CEO Antonio Neri sold about $6.7M of stock in late March while HPE was balancing Juniper integration, AI-networking ambitions, and a cost-reset story.
Alex RiveraGap CEO Horacio Barbeito Sold $2.7M After Gaps 2026 Outlook Framed the Next Turnaround Phase
Gap CEO Horacio Barbeito sold roughly $2.7M of stock in March just after Gap outlined its 2026 priorities around Old Navy, new store formats, and the next stage of its brand reset.
Alex RiveraIMC-Chicago Q4 2025: $275.42B With 84 New Positions and a Derivatives-Led Core
IMC-Chicago filed a $275.42B Q4 2025 13F showing 84 new positions, 84 exits, and a book dominated by ETF, index, and derivative-style exposures.
Marcus ChenCTC LLC Q4 2025: Inside a $204.89B Options Market Maker's 13F Filing
CTC LLC filed Q4 2025 with $204.89B in reported 13F value. But CTC is a Chicago-based options market maker — its holdings reflect hedging and trading inventory, not traditional investment conviction.
Marcus ChenAQR Capital Management Q4 2025: $190.63B After a 21.2% Jump and 69 New Positions
AQR Capital Management ended Q4 2025 with a $190.63B 13F, a 21.2% quarter-over-quarter jump in visible holdings value, and 69 new positions.
Marcus ChenGuidewire Stock Rallied on Raised FY2026 Outlook. Why Did James Winston King Sell Again?
James Winston King's March 2026 GWRE sale followed Guidewire's stronger outlook and cloud momentum, adding a fresh insider signal during a fast rerating phase.
Alex Rivera