Updated Mar 30, 2026 · 608 articles
Research
Quarterly deep analysis of institutional holdings, hedge fund strategies, and market trends from SEC 13F filings.
IMC-Chicago Q4 2025: $275.42B With 84 New Positions and a Derivatives-Led Core
IMC-Chicago filed a $275.42B Q4 2025 13F showing 84 new positions, 84 exits, and a book dominated by ETF, index, and derivative-style exposures.
Marcus ChenCTC LLC Q4 2025: Inside a $204.89B Options Market Maker's 13F Filing
CTC LLC filed Q4 2025 with $204.89B in reported 13F value. But CTC is a Chicago-based options market maker — its holdings reflect hedging and trading inventory, not traditional investment conviction.
Marcus ChenAQR Capital Management Q4 2025: $190.63B After a 21.2% Jump and 69 New Positions
AQR Capital Management ended Q4 2025 with a $190.63B 13F, a 21.2% quarter-over-quarter jump in visible holdings value, and 69 new positions.
Marcus ChenMUFG Financial Group Q4 2025: $66.94B 13F Book in a Single Position
MITSUBISHI UFJ FINANCIAL GROUP disclosed a one-line Q4 2025 13F portfolio worth $66.94B, fully allocated to MS.
Marcus ChenFisher Asset Management Q4 2025: $292.99B AUM With IEF as #3 Holding
Fisher Asset Management reported $292.99B in Q4 2025 13F AUM, combining mega-cap equities with a large IEF allocation.
Marcus ChenBarclays Q4 2025: $416.70B AUM With SPY at 18.7%
Barclays reported $416.70B in Q4 2025 13F AUM, with SPY alone at 18.7% and top-five concentration near 35%.
Marcus ChenGeode Capital Q4 2025: $1.62T AUM With 27.0% in Top Five Holdings
Geode Capital reported $1.62T in Q4 2025 13F AUM, with NVDA, AAPL, and MSFT leading a 27.0% top-five concentration profile.
Marcus ChenMorgan Stanley’s Q4 2025 13F: The Most Diversified Mega-Filer, With AAPL Still Ahead of NVDA
Morgan Stanley reported $1.67T in Q4 2025 13F AUM with just 18.8% in its top five holdings, highlighting one of the broadest mega-filer books while still keeping AAPL ahead of NVDA.
Marcus ChenFMR LLC's Q4 2025 13F: The Most Concentrated NVDA Bet Among Mega-Filers
FMR LLC closed 2025Q4 with $1.96T in reported 13F AUM, 500 positions, and a 10.29% stake in NVDA ($181.10B), the sharpest single-stock concentration among mega-filers.
Marcus ChenBlackRock’s Q4 2025 13F: A $5.92T Empire Led by NVDA, with IVV Inside the Top 15
BlackRock reported $5.92T in 13F AUM for 2025Q4 across 500 positions, with NVDA as the top holding at $362.80B (7.13%). The top five positions account for 25.1%, while IVV appears as the firm’s #13 position, highlighting its ETF ecosystem scale.
Marcus ChenState Street’s Q4 2025 13F at $2.98T: Custodian Scale Meets Steady Compounding
STATE STREET CORP reported $2.98T in Q4 2025 13F AUM with 500 positions. The filing shows a 65% rise from $1.80T in 2023Q3, led by mega-cap exposures and a top-5 concentration of 24.3%.
Marcus ChenVanguard's Q4 2025 13F: World's Largest Manager Reaches $6.90T With NVDA as Top Holding
Vanguard Group's Q4 2025 13F shows $6.90T in reported AUM, 500 positions, and NVDA as its largest disclosed position at 6.92% ($422.74B).
Marcus ChenUBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC's $472.97B 2025Q4 Build Opened 38 New Positions
UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC reported $472.97B for 2025Q4, with NVDA at 8.13% and top-5 concentration at 27.42%.
Marcus ChenDiesslin Group, Inc.'s $251.64M 2025Q4 Filing Prints a 66.61% Top-5 Cluster
Diesslin Group, Inc. reported $251.64M for 2025Q4, with BRK/B at 23.93% and top-5 concentration at 66.61%.
Marcus ChenBANK OF MONTREAL /CAN/'s $288.73B 2025Q4 Build Opened 78 New Positions
BANK OF MONTREAL /CAN/ reported $288.73B for 2025Q4, with NVDA at 5.02% and top-5 concentration at 18.22%.
Marcus ChenENVESTNET ASSET MANAGEMENT INC's $337.09B 2025Q4 Build Opened 33 New Positions
ENVESTNET ASSET MANAGEMENT INC reported $337.09B for 2025Q4, with IVV at 6.17% and top-5 concentration at 14.27%.
Marcus ChenInside National Pension Service's $135.07B 2025Q4 Portfolio: What the Latest Filing Says
National Pension Service reported $135.07B for 2025Q4, with NVDA at 6.92% and top-5 concentration at 24.48%.
Marcus ChenFIRST TRUST ADVISORS LP's $137.60B 2025Q4 Build Opened 51 New Positions
FIRST TRUST ADVISORS LP reported $137.60B for 2025Q4, with CSCO at 1.72% and top-5 concentration at 7.55%.
Marcus ChenCreative Planning's $139.71B 2025Q4 Build Opened 38 New Positions
Creative Planning reported $139.71B for 2025Q4, with IVV at 11.94% and top-5 concentration at 32.71%.
Marcus Chen