Updated Mar 6, 2026 · 2187 articles
Insights
Research, news and field guides on institutional positioning. Powered by real SEC filings — 13F, 13D/G, Form 4.
Ameriprise's $443B Q4 Filing Makes It the Fifth Mega-Filer to Build Netflix 900%+ in One Quarter — With the Lowest Top-5 Concentration We've Seen
Ameriprise Financial's 11,224-position portfolio has the lowest top-5 concentration of any mega-filer at 14.8%. Netflix shares surged 943%, confirming an institutional consensus trade across $2.7 trillion in combined AUM. Salesforce built 82%.
Alex RiveraLegal & General's $451B Q4 Portfolio: NVIDIA and Apple Neck-and-Neck at the Top, a $102B AUM Swing, and Netflix Up 916%
Britain's largest asset manager holds NVIDIA at $32B and Apple at $30B in an unusually close #1/#2 race. AUM crashed $102B between Q3 and Q4 2024, then recovered. Netflix shares surged 916% — the fourth mega-filer to make this trade in Q4.
Marcus ChenCapital Research Global's $542B Q4 Filing: Netflix Up 800%, Applied Materials Built to $8.4B, and $1B in MicroStrategy
The second Capital Group division to file a massive Netflix build in Q4 2025. Capital Research Global also doubled its Applied Materials position, holds $26B in Eli Lilly, and opened a $1B position in MicroStrategy — the Bitcoin proxy.
Alex RiveraRoyal Bank of Canada's $615B Q4 Filing Holds 29,036 Positions — Including $12.5B of Its Own Stock and Rival Toronto-Dominion
Canada's largest bank filed a U.S. 13F with 29,036 positions, three S&P 500 ETFs in its top 5, $12.5B of its own stock (RY), and $11.9B of competitor Toronto-Dominion. Netflix shares surged 893% in one quarter.
Marcus ChenCapital International Investors' $638B Portfolio Puts Broadcom at #1 and Built a $2.5B Netflix Position in One Quarter
While most mega-filers lead with NVIDIA, Capital International Investors bets biggest on Broadcom at 7.7% of portfolio. They also increased Netflix shares by 710% in Q4 2025, added $3.4B in TotalEnergies, and exited Disney entirely.
Marcus ChenPhilip Knight Has Filed 13,182 Nike Transactions. Only One Was an Open-Market Sale.
Nike's co-founder has $3.1 billion in reported 'sell value' across his Form 4 filings. But almost every transaction is a gift, conversion, or trust transfer — not a sale. The real story is one of the largest founder-to-philanthropy transfers in American corporate history.
Alex RiveraLilly Endowment Has Sold $111.8 Billion in Eli Lilly Stock. It Still Owns 92 Million Shares.
The charitable foundation behind Eli Lilly has filed 10,747 Form 4 transactions since 2003 — all sells. Federal tax law forces the sales. GLP-1 drug revenue has made each share worth more than ever.
Alex RiveraJeffrey Eberwein's December Tape in STRR: $3.88M Sold While $4.98M Was Bought
Form 4 filings for Jeffrey E. Eberwein show a mixed buy-sell sequence in Star Equity Holdings during December 2025, including a large same-day swap pattern.
Alex Rivera$181.7M in SYK Stock Sold in Two Days by Ronda Stryker After Earnings Guidance
Form 4 filings show Ronda E. Stryker sold about $181.7M of Stryker shares on February 4-5, 2026, following the company's latest earnings and guidance cycle.
Alex RiveraTim Cook Sold $33.4M of Apple Stock in One Day After a Large Exercise Window
Form 4 filings show Apple CEO Tim Cook sold roughly $33.4M of AAPL on October 2, 2025, one day after a major exercise-and-tax-withholding cycle.
Alex RiveraFranklin Templeton's $408B Q4 Portfolio: Microsoft Over NVIDIA, Citigroup at $4B, and Cisco Built 18% — The Global Active Manager That Bets Differently
Franklin Resources — the parent of Franklin Templeton, one of the world's oldest fund families — files $408B with 14,263 positions. Its Q4 2025 13F has Microsoft over NVIDIA at #1, a massive $4B Citigroup bet, Cisco built 18%, and Exxon in the top 10. This is active management that refuses to follow the momentum crowd.
Sarah MitchellDimensional Fund Advisors' $477B Q4 Portfolio: The Factor Investing Pioneer Holds 13,709 Stocks and Not a Single ETF
DFA — the firm that brought academic factor research to real portfolios — files 13,709 positions without a single ETF or index fund. Its Q4 2025 13F reveals a 17.9% top-5 concentration with Berkshire Hathaway, Exxon, and Visa in the top 15 — the anti-momentum portfolio built on Nobel Prize-winning research.
Marcus ChenWells Fargo's $549B Q4 Filing Did the Opposite of Every Other Bank: It Doubled Its SPY Position to $20 Billion While Peers Were Dumping It
While Bank of America cut SPY by 55% and Goldman Sachs slashed it by $11B, Wells Fargo went the other direction — increasing its SPY stake by 75.5% to $19.7B. The 4th-largest U.S. bank also made SPY its #1 holding, cut small caps 21%, and loaded $11.4B into QQQ.
Alex RiveraBNY Mellon Files 33,186 Positions in Its Q4 13F — More Than Any Other Filer in Our Database. Here's What the Oldest U.S. Bank Reveals About the Market.
Bank of New York Mellon's $568B Q4 2025 13F has more positions than any other institutional filer we track — 33,186. Founded by Alexander Hamilton in 1784, the custody bank's portfolio is less an investment thesis and more a census of American equity ownership.
Sarah MitchellWellington Management's $571B Q4 Portfolio: The Stock Picker's Stock Picker Built a $14B Eli Lilly Position While Everyone Else Was Chasing AI
Wellington Management is the largest pure active manager in our database — no ETFs, no index funds. Its Q4 2025 13F reveals a $571B portfolio where healthcare rivals tech for attention: Lilly at $14.4B, Merck at $9.1B, and a Meta trim of 18% that goes against the passive consensus.
Marcus ChenBank of America's $1.375T Q4 Filing: SPY Cut in Half, NVIDIA Trimmed 22%, and $26B in Vanguard ETFs Nobody Talks About
Bank of America's Q4 2025 13F reveals the last uncovered megabank: a $1.375 trillion portfolio with 28,105 positions, a 12.9% top-5 concentration that makes it the most diversified major bank filing, and a massive Vanguard ETF allocation that signals where Merrill Lynch clients actually park their money.
Marcus ChenThe Man Who Invented Your Cell Phone Signal Sold $712 Million in Qualcomm Stock Over 9 Years. Then He Gave Away Billions More.
Irwin Jacobs co-founded Qualcomm, pioneered CDMA technology that powers every 3G/4G/5G phone on Earth, and filed 5,491 insider transactions — nearly all sells and gifts. His methodical exit from the company he built is a masterclass in founder wealth management.
Sarah MitchellMichael Saylor Sold Every Share of His Own Company for $462 Million. Then He Bought 506,137 Bitcoin With It.
MicroStrategy's founder filed 2,774 insider transactions over two decades — all sells, zero purchases. His final trade in April 2024 left him with exactly zero personal shares. The company he built now holds half a million Bitcoin worth over $50 billion.
Alex RiveraUBS Group’s $616.68B Q4 2025 13F Looks Rebuilt: Every Top Holding Shows Up as New
UBS Group AG’s Q4 2025 13F reported $616.68B, but the bigger signal is structural: the top of the U.S. portfolio reads like a rebuilt book, suggesting Credit Suisse integration and account migration effects still matter.
Sarah Mitchell