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.
Net vs Gross Exposure: Why a 13F Can Mislead
A hedge fund's 13F shows only longs, so it can't reveal net or gross exposure. Here's what those terms mean and why a big long book may carry little market risk.
Marcus ChenInstitutional Ownership and Free Float in a 13F
A billion-dollar stake means different things in different companies. Here's how institutional ownership % and free float give a 13F position its real context.
Sarah MitchellMerger Arbitrage: Reading a Deal-Driven 13F
Some funds bet on whether deals close, not where stocks go. Here's how merger arbitrage works and how to recognize a deal-driven book in 13F filings.
Marcus ChenCrowded Trades and Hedge Fund Hotels, Explained
When dozens of hedge funds own the same stock, it's a crowded trade. Here's why crowding is both a validation signal and a hidden risk — and how to read it in 13Fs.
Marcus ChenLow-Volatility Investing: Winning by Losing Less
Low-volatility managers aim for a smoother ride — solid returns with smaller drawdowns. Here's what low-vol investing is and how to spot it in a 13F.
Sarah MitchellConfidential Treatment: Why Some 13F Holdings Are Hidden
Sometimes a 13F is missing positions on purpose. Confidential treatment lets funds temporarily hide holdings. Here's how it works and what a later reveal means.
Sarah MitchellCan You Copy a Hedge Fund's 13F?
Cloning a famous fund's 13F sounds like a free ride on pro research. Here's why it works less well than it looks — and how to use 13F data the smarter way.
Sarah MitchellLondon Co Q1 2026: A Quality, Low-Volatility Book
The London Company of Virginia holds durable, quality names — Apple, Berkshire, Norfolk Southern — and in Q1 2026 added to utility Dominion while trimming Corning.
Marcus ChenFred Alger Q1 2026: 12.5% in Nvidia, Growth Conviction
Fred Alger, a growth-investing pioneer, holds 12.55% in Nvidia and added to it through a 10.7% drawdown — high-conviction growth anchored by AI leaders.
Marcus ChenDiamond Hill Q1 2026: Trim Everything, Add Microsoft
Diamond Hill cut most of its value book 17-37% in Q1 2026 as its value slid 18% — while raising Microsoft 400%, the lone high-conviction exception.
Marcus ChenForm 4 vs 13F: Two Windows Into Smart Money
A 13F shows what institutions own; a Form 4 shows what insiders trade. Here's how the two filings differ and how to read them together for a fuller signal.
Sarah MitchellWhat a Financials-Heavy 13F Signals
When banks and insurers lead a fund's book, it's a bet on rates, credit, and the economy. Here's how to read a financials-heavy 13F — and which financials matter.
Marcus ChenHow to See Which Funds Own a Stock
13F data works stock-first too: pick a ticker and see its institutional holders. Here's how to read a stock's holder base — and filter real conviction from passive ownership.
Sarah MitchellHow to Compare Two Funds Using 13F Data
Comparing two funds' 13Fs reveals how professionals disagree. Here's a four-step framework: shape, style, overlap, and direction of change.
Marcus ChenGOOG vs GOOGL: Why a 13F Lists Alphabet Twice
Alphabet shows up as both GOOG and GOOGL in 13Fs — two share classes, not a duplicate. Here's the difference and why you should combine them to gauge exposure.
Sarah MitchellDividend-Growth Investing: Reading an Income 13F
Owning companies that raise dividends yearly is different from chasing the highest yield. Here's what dividend-growth investing is and how to spot it in a 13F.
Sarah MitchellWestfield Q1 2026: Growth With an AI-Infrastructure Tilt
Westfield Capital pairs megacap tech with the physical AI build-out — data-center contractor Comfort Systems and power maker Vertiv — alongside its Nvidia anchor.
Marcus ChenBahl & Gaynor Q1 2026: A Dividend-Growth Book
Bahl & Gaynor's $19.8B income book holds quality dividend payers — Broadcom, J&J, AbbVie, NextEra — with very low turnover. A steady dividend-growth strategy.
Marcus ChenOrbis Q1 2026: Contrarian Bets on Gas and Biotech
Orbis Allan Gray made bold contrarian adds in Q1 2026 — EQT +248%, Praxis +97%, Motorola +46% — across an off-index global value book.
Marcus ChenDavis Selected Q1 2026: A Financials-Led Value Book
Davis Selected Advisers' value book is led by Capital One, U.S. Bancorp, and Markel, with an energy add in Coterra. Low turnover from a patient value manager.
Marcus Chen