Updated Apr 11, 2026 · 608 articles
Research
Quarterly deep analysis of institutional holdings, hedge fund strategies, and market trends from SEC 13F filings.
Pictet's $103.05B Q4 2025 U.S. Book Barely Budged. That's What Makes It Interesting.
Pictet Asset Management Holding SA kept its Q4 2025 13F book near record highs while refining, rather than abandoning, a quality-growth and healthcare-heavy portfolio.
Sarah MitchellPEAK6 LLC Q4 2025: The $107.52B Filing That Was Really an Options Book
PEAK6 LLC's Q4 2025 13F reported $107.52B of value, but roughly 97.5% of the disclosed book was puts, making the headline figure a poor proxy for true economic AUM.
Marcus ChenStifel's $111.17B Q4 Filing Looks Less Like a Bet and More Like a Wealth Platform at Scale
Stifel Financial Corp reported $111.17B of Q4 2025 13F AUM, but the more important signal was how diversified the platform stayed while adding tactical risk around the edges.
Alex RiveraDZ Bank's $9.74B Nvidia Position Recasts Its $115.79B 13F
DZ BANK AG Deutsche Zentral Genossenschafts Bank ended 2025Q4 with $115.79B in reported 13F AUM, led by a striking $9.74B NVIDIA stake and a top book dominated by U.S. mega-cap technology.
Marcus ChenManulife's $121.70B 13F Stayed Flat, but Q4 2025 Looks More Selective
Manufacturers Life Insurance Company, The finished 2025Q4 with $121.70B in reported 13F AUM and a holdings count that fell to 2,850 even as Microsoft, Nvidia, and Amazon led the visible equity book.
Sarah MitchellClearbridge Investments' $6.24B Nvidia Stake Defines a $124.90B Q4 Reset
Clearbridge Investments closed 2025Q4 with $124.90B in reported 13F AUM, 500 positions, and a top disclosed book led by a new $6.24B Nvidia stake.
Marcus ChenTD Asset Management Q4 2025: Canadian Stability Meets the +730% Netflix Pivot
TD Asset Management's latest 13F features a robust $124 billion portfolio blending Canadian bank stability with an aggressive rotation into US tech, led by a 730% surge in Netflix shares.
Marcus ChenState Farm Mutual Q4 2025: The $127B Value Engine Driven by Eli Lilly and Caterpillar
State Farm's highly concentrated Q4 portfolio reveals massive conviction in Eli Lilly (10.5%) and Caterpillar (7.8%), showcasing a unique defensive value strategy.
Marcus ChenWolverine Trading Q4 2025: The $138B ETF-Led Strategy and Mega-Cap Conviction
Wolverine Trading's latest 13F reveals a highly concentrated $138.7 billion portfolio led by a massive $15.8 billion stake in the SPY ETF and significant bets on NVDA and TSLA.
Marcus ChenCorient Private Wealth Q4 2025: A Stunning 133% AUM Surge and Massive Tech Conviction
Corient Private Wealth's portfolio expanded by over 133% in Q4 2025, driven by a hyper-aggressive pivot into Tesla (+3325% shares) and Netflix (+3776% shares).
Marcus Chen1832 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 Chen