Updated Apr 14, 2026 · 608 articles
Research
Quarterly deep analysis of institutional holdings, hedge fund strategies, and market trends from SEC 13F filings.
Bridgewater Q1 2026 Preview: After a $2.87B IVV Bet and a +102% QoQ Jump, What Does the Macro Giant Do Next?
Bridgewater ended Q4 2025 with $27.42B in visible 13F AUM, 1,040 holdings, and a surprisingly index-heavy core led by SPY and IVV. Q1 2026 will show whether that reset was tactical or durable.
Marcus ChenNorges Bank Q4 2025: Why a $935B Sovereign Fund Still Stopped at 1,577 Positions
Norges Bank's Q4 2025 13F disclosed $934.76B across just 1,577 positions, showing why sovereign-scale capital can still look highly selective in U.S. equities.
Marcus ChenNorges Bank's $62.24B NVIDIA Stake Anchors a $934.76B U.S. Portfolio
Norway's sovereign wealth fund disclosed a $934.76B U.S. equity portfolio in Q4 2025, led by a $62.24B NVIDIA stake and a tightly curated mega-cap core.
Marcus ChenBNY Mellon's Own $568B 13F Is Only 1% of the $59.3T It Safeguards
Bank of New York Mellon ended Q4 2025 with a $567.68B 13F portfolio across 33,186 positions, but the real takeaway is how small that disclosed equity book is versus the bank's $59.3T custody platform and $2.2T managed asset base.
Sarah MitchellNorges Bank Q4 2025: $935B Sovereign Fund Holds Just 1,577 Positions
Norway Government Pension Fund Global reported $934.76 billion in US equities across just 1,577 positions in Q4 2025. Here is how the world largest sovereign wealth fund selects its US holdings.
Marcus ChenBNY Mellon Q4 2025: The Custodian Giant's Own $568B Investment Portfolio
Bank of New York Mellon reported $567.68 billion in 13F value for Q4 2025 across 33,186 positions. Here is how the world's largest custodian bank invests its own capital.
Sarah MitchellDimensional Fund Advisors Q4 2025: Academic factor investing at $476.72B scale
Dimensional Fund Advisors ended 2025 with $476.72B of reported 13F AUM and 13,709 holdings, showing how a Fama-French-style factor process still works at immense scale.
Marcus ChenNorthern Trust’s $784.38B 13F Is a Custody-and-Wealth-Management Map, Not a Pure Stock-Picker’s Book
Northern Trust’s Q4 2025 13F reported $784.38B in disclosed value, but the filing makes more sense as a window into a custodian bank and wealth manager’s client exposures than as a classic hedge fund portfolio.
Sarah MitchellGeode Capital Management’s $1.62T Q4 2025 Filing Reveals Fidelity’s Shadow Index Giant
Geode Capital Management’s Q4 2025 13F highlights how a behind-the-scenes Fidelity sub-adviser concentrated enormous benchmark-driven capital in Nvidia, Apple, Microsoft, and other mega-cap leaders.
Marcus ChenBank of America’s $1.37T 13F Put Only 12.9% in Its Top Five — Merrill’s ETF Machine in Plain Sight
Bank of America’s Q4 2025 13F looks less like a stock-picker’s book and more like Merrill wealth management at scale, with massive ETF sleeves in VTV, VUG, IEFA, and SPY keeping top-five concentration at just 12.9%.
Sarah MitchellFairholme Capital Q4 2025: Bruce Berkowitz's 80% Conviction in St. Joe Company
Fairholme Capital Management's $1.43B portfolio reveals extreme conviction, with real estate developer St. Joe Company (JOE) commanding over 80% of assets.
Marcus ChenScion Asset Q4 2025: Michael Burry's Astonishing 80% Bet on Palantir
Michael Burry's Scion Asset Management revealed a highly concentrated 4-stock portfolio in Q4 2025, with Palantir making up over 80% of the assets.
Marcus ChenRenaissance Technologies Q4 2025: The $64B Quant Giant's Palantir Conviction
Inside Renaissance Technologies' massively dispersed Q4 2025 13F, highlighting their surprising $1.56B top position in Palantir.
Marcus ChenThird Point Q4 2025: Dan Loeb Balances PG&E Activism with NVIDIA Growth
Analyzing Dan Loeb's $7.27 billion 13F for Q4 2025, where distressed utility PG&E shares the top spot with AI leader NVIDIA.
Marcus ChenNomura’s New $19.23B SATS Position Dominated Its Q4 2025 13F
Nomura reported $75.14B in Q4 2025 13F AUM, but one new position — SATS 3.875 11/30/30 at $19.23B — accounted for 25.96% of the filing. That makes this a balance-sheet-style bank filing, not a plain-vanilla hedge fund portfolio.
Marcus ChenWhy Loomis Sayles’ Q4 2025 13F Jumped From $84.1M to $82.47B
Loomis Sayles, long associated with fixed income and the Dan Fuss legacy, suddenly reported $82.47B in Q4 2025 13F assets after showing just $84.1M in Q3. The filing looks less like an overnight risk binge and more like a reporting-footprint reset.
Sarah MitchellHarris Associates’ $79.12B Q4 2025 13F Rebounded 26.8% as Oakmark Spread Value Across 167 Positions
Harris Associates reported $79.12B in Q4 2025 13F AUM, up 26.8% from Q3, while keeping top-five concentration at just 16.6% — a broad Oakmark-style value rebound rather than a single-theme bet.
Marcus ChenWhat Did Rajiv Jain Own in Q4 2025? GQG’s $60.72B 13F Put 51.3% in Its Top 10
GQG Partners reported $60.72B in Q4 2025 13F AUM across just 87 positions, with 51.3% of the portfolio concentrated in its top 10 holdings — a classic Rajiv Jain conviction profile.
Sarah MitchellBalyasny’s $78.78B Q4 2025 13F Shows a Pod Shop Still Spreading Risk Across 500 Positions
Balyasny Asset Management reported $78.78B in Q4 2025 13F AUM, but its top five U.S. long positions made up only 13.9% of the book — a clear sign of platform-level diversification.
Alex RiveraWhy CalSTRS Added $2.03B of IVV While Letting Nvidia Stay No. 1 in a $99.96B Q4 Book
California State Teachers Retirement System pushed its Q4 2025 13F AUM to $99.96B, kept mega-cap leaders at the core, and added a new $2.03B IVV position to reinforce large-cap beta.
Marcus Chen