The Q1 2026 13F cycle shows institutional portfolios remaining heavily concentrated in mega-cap technology, with NVIDIA, Apple, and Microsoft each commanding aggregate positions in the hundreds of billions of dollars across the 70 curated filers reviewed. Flows data points to notable accumulation in financials — Bank of America saw share additions exceeding one billion across separate manager cohorts — while Alphabet drew the broadest participation, with 13 managers adding a combined 46.7 million shares. Among managers reporting Q1 performance, several smaller firms disclosed returns substantially above the SPY benchmark of +17.6%, though these represent a single period from a self-selected disclosure cohort.
Congressional PTR filings were limited in scope, with all disclosed transactions near minimum reportable thresholds across sales in Cencora, GE Aerospace, Apple, and Tapestry, and purchases in Amcor, Kroger, and AT&T. The most material insider filing came from Ra Capital Management, which disclosed approximately $423.8 million in Form 4 purchases of Parabilis Medicines on 15 June — a position of unusual scale for a newly visible biotech name that warrants tracking in subsequent disclosures.
Generated from public SEC filings. Not investment advice.
This Week in Smart Money
The Q1 2026 13F cycle — with 70 curated entities filing through mid-May — shows the familiar concentration at the top of institutional portfolios. NVIDIA and Apple each appear in aggregate positions exceeding $400 billion when the largest single-manager holdings are included alongside the broader cohort, with Microsoft close behind at $347 billion. These figures reflect the continued weight of mega-cap technology in institutional allocations, though it is worth noting that the single-manager NVDA and AAPL figures likely reflect index-linked or passive vehicles rather than active concentration.
On the flows side, Bank of America was the most-added name in share-count terms, with one manager adding 656.6 million shares and a separate group of ten managers collectively adding 381.7 million — a notable accumulation in financials. Alphabet attracted additions from the broadest cohort, with 13 managers adding a combined 46.7 million shares. Netflix and ServiceNow each saw material single-manager additions of 351.5 million and 81.8 million shares respectively.
Among reported performance figures for the period ending 31 March 2026, several smaller managers posted returns well above the SPY benchmark of +17.6%: Enavate Sciences GP at +155.2%, Brightline Capital Management at +143.8%, and ADAR1 Capital Management at +130.3% lead the disclosed cohort. As always, past performance is not indicative of future results, and these figures reflect a single reported period.
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Congress & Disclosure
Eight transactions appeared in congressional PTR disclosures over the past 30 days. Representative Jared Moskowitz filed two separate sales of Cencora (COR), each in the $15,000 bracket, both dated 19 June. Representative Matthew Robert Van Epps disclosed sales across three positions — GE Aerospace, Apple, and Tapestry — on 17 June, with the Tapestry transaction listed as undisclosed in value. On the buy side, Representative Thomas H. Kean disclosed a purchase of Amcor (AMCR) on 18 June, and Representative David J. Taylor filed purchases of both Kroger and AT&T on 12 June, each in the minimum reportable bracket. All transactions fall within standard STOCK Act disclosure windows.
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Insider Activity
The most significant Form 4 filing in the past 14 days involves Ra Capital Management, which disclosed purchases of Parabilis Medicines (PBLS) totalling approximately $423.8 million across two transactions on 15 June. Ra Capital is a known healthcare-focused institutional investor; the filing reflects a substantial position initiation in what appears to be a recently public or newly listed biotech. Separately, Trygve Seglem disclosed a $25 million purchase of KNOT Offshore Partners on 16 June — Seglem is associated with the Knutsen group, KNOP's sponsor. Cantor EP Holdings VII filed a $6 million purchase in Cantor Equity Partners VII, a related-party transaction consistent with SPAC sponsor mechanics.
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The Bigger Picture
The Q1 filings reinforce a pattern visible across recent cycles: institutional portfolios remain anchored in a narrow band of large-cap technology names, while incremental flows in the quarter moved toward financials and select media. Congressional disclosures this week were modest in scale, with all reported transactions at or near the minimum reportable threshold. The Parabilis Medicines insider filing stands out for its size and warrants monitoring in subsequent Form 4 disclosures.
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Generated from public SEC filings and congressional disclosures. Not investment advice. Past performance is not indicative of future results.