Updated May 24, 2026 · 798 articles
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Educational guides about 13F filings, insider trading, institutional investing, and how to track smart money moves.
Return on Invested Capital: The Quality Metric
ROIC measures how well a company turns capital into profit, and it's the number quality investors care about most. Here's why ROIC drives so many 13F portfolios.
Sarah MitchellWhat Is an Economic Moat? A Quality-Investing Guide
A moat is the durable competitive advantage that lets a company defend its profits for years. Here are the types of moats and how to spot a moat-driven 13F.
Sarah MitchellHow an Activist Campaign Works
Filing a 13D is only the opening move. Here's the activist playbook — from quietly building a stake to proxy fights — and how it shapes reading an activist's holdings.
Marcus ChenConcentrated vs Diversified: Two Ways to Build a 13F
One fund holds 11 stocks; another holds over a thousand. Here's the trade-off between concentration and diversification — and how to read each from a 13F.
Marcus ChenWhat a Gold Miner in a 13F Signals
A gold miner like Newmont in a fund's book is a leveraged bet on gold — usually a hedge, not a growth play. Here's how to read gold exposure in a 13F.
Marcus ChenSpecial-Situation Investing: Betting on Catalysts
Some funds buy stocks for a specific event — a spinoff, merger, or breakup — not the long-term business. Here's how special-situation investing shows up in a 13F.
Marcus ChenWhat a 13F Aggregates: One Filer, Many Funds
A big firm's 13F isn't one portfolio — it rolls up many funds, accounts, and strategies into one filing. Here's why that changes how you read it.
Sarah MitchellWhat Are Tiger Cubs? The Hedge Fund Family Tree
Lone Pine, Viking, Coatue, Tiger Global share an ancestor: Julian Robertson's Tiger Management. Here's what the Tiger cubs are and what their 13Fs have in common.
Sarah MitchellNet 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 MitchellForm 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 Mitchell