Baker Chad R 13F Reveals Tech, Energy Stakes

The Form 13F filed by Baker Chad R on April 17, 2026 discloses a concentrated set of long U.S. equity positions valued at $512.3 million as of the reporting date of March 31, 2026, according to the filing (SEC EDGAR) and an Investing.com summary published April 17, 2026. The filing, which reports holdings at quarter-end, shows that the manager allocated approximately 45% of reported market value to the top three names, with the largest single holding representing roughly 19% of the portfolio. This concentration is meaningful when compared with the median long-only institutional manager, whose top-three concentration averaged around 28% in 2025 (Bloomberg, 2025 Institutional Ownership Survey). The filing’s timing and composition provide a window into tactical shifts between sectors during Q1 2026, notably a relative overweight to large-cap technology and selected energy names versus financials and consumer staples.

Context

The Baker Chad R 13F, filed April 17, 2026, covers long equity positions as of March 31, 2026; filings of this type must be submitted within 45 days after quarter-end under SEC rules (SEC EDGAR). The April 17 filing date aligns with an industry-wide release schedule for many midsized managers and allows market participants to infer positioning changes executed in the heart of Q1. SEC data show that the average delay between quarter-end and filing for the peer cohort of registered institutional asset managers was 28 days in Q1 2026, which places Baker’s submission within the typical window. The Investing.com report summarizing the filing was published the same day, underscoring how quickly market data aggregators can synthesize 13F disclosures for public consumption (Investing.com, Apr 17, 2026).

For investors and counterparties parsing 13Fs, two contextual points matter: first, 13Fs capture only long equity positions and therefore exclude derivatives, short positions, and non-equity exposures; second, the dollar values reported reflect market value at quarter-end and may diverge materially from current valuations. When Baker’s top three positions represent about 45% of the disclosed $512.3 million portfolio, that concentration signals either a high-conviction strategy or a smaller reported asset base that inflates percentages compared with larger institutional funds. Historical 13F review shows Baker’s top-10 count has fluctuated between 10 and 22 holdings over the past three years, suggesting an adaptable but still relatively concentrated approach.

Data Deep Dive

The filing lists 42 positions with a combined market value of $512.3 million as of March 31, 2026 (SEC EDGAR; Investing.com Apr 17, 2026). Top positions by market value—each disclosed in the filing—include names in large-cap technology and integrated energy. The single largest disclosed holding accounts for approximately $98.6 million or 19.2% of reported assets; the second and third largest holdings represent $85.4 million (16.7%) and $46.1 million (9.0%), respectively. These three holdings together total roughly $230.1 million and form the 45% concentration noted above.

Quarter-on-quarter movement is instructive: compared with the December 31, 2025 filing, Baker increased the tech allocation by 6.1 percentage points and reduced exposure to financials by 3.8 percentage points (Baker filings Dec 2025 vs Apr 2026; EDGAR archives). That shift aligns with broader Q1 2026 industry flows — tech ETFs registered net inflows of $24.6 billion in Q1, while financial sector ETFs saw $8.9 billion of outflows (ETFGI, Q1 2026). On a year-over-year basis, the manager’s reported portfolio value rose 8.4% from $472.5 million on March 31, 2025 to $512.3 million on March 31, 2026, reflecting both market appreciation and selective added allocations.

Sector Implications

The 13F highlights Baker’s tactical overweight to technology relative to a simple cap-weighted benchmark such as the S&P 500 (SPX). If the manager’s tech weight stands at approximately 38% of disclosed holdings versus the S&P 500 tech sector weight of roughly 29% at quarter-end (S&P Dow Jones Indices, Mar 31, 2026), Baker is running a discernible active tilt that will magnify benchmark-relative performance in a market where mega-cap tech outperforms. Conversely, the reduced positioning in financials and staples suggests a view—either explicit or emergent—favoring secular growth and cash-generative franchises over cyclical banks and defensive consumer names.

Energy appears as a selective exposure rather than a blanket overweight: the third-largest disclosed position is an integrated energy company representing 9% of the portfolio. That allocation may reflect valuation-driven buys or an intent to hedge cyclicality elsewhere in the book. For sector peers and corporate analysts, a 9% single-name allocation to energy by an equity manager of this size signals conviction; by comparison, the average energy allocation among US-focused long-only managers was 4.7% at the same date (eVestment, Mar 2026). The consequence for underlying stocks is marginal at the market level but meaningful for liquidity-sensitive mid-cap energy names where a single institutional holding can imply concentrated investor exposure.

Risk Assessment

13F filings are a backward-looking snapshot and have several important limitations: they do not reveal intra-quarter trades, derivatives, short positions, or off-exchange transactions. Baker’s reported $512.3 million in long equities therefore understates total economic exposure if the manager uses options or futures for leverage or hedging. Additionally, headline concentrations—such as a 19% single-name stake—may overstate risk if the position is a block trade destined for liquidation or part of a collateralized arrangement; similarly, understate risk if the manager holds large call options not reported on 13F.

From a market-impact perspective, movements implied by the filing are modest. The filing’s contents are unlikely to move large-cap, highly liquid names materially; however, for mid-cap holdings and less liquid small-caps, a disclosed position of several million dollars can represent a sizable share of free float and therefore be price-sensitive. Given Baker’s portfolio size and concentration, a forced liquidation of the top three positions could exert local price pressure, but broader market indices (SPX) would see negligible effect. Counterparty credit and operational risk remain standard considerations: counterparties pricing potential repurchase or block trades would incorporate the disclosed allocation and historical turnover patterns from successive 13Fs.

Fazen Markets Perspective

Baker Chad R’s April 17, 2026 13F reinforces a strategic posture that favors concentrated, high-conviction holdings in large-cap tech and idiosyncratic energy names—an approach that, on the surface, seeks asymmetric upside while accepting idiosyncratic risk. The contrarian insight is that concentration here may be as much about capital efficiency as stock selection: with reported assets at roughly $512m, concentrating into fewer, high-conviction names can reduce transaction costs and allow for deeper research focus compared with running a highly diversified book. From a risk-management standpoint, investors and counterparties should monitor sequential filings: if concentration increases quarter-on-quarter while portfolio value drops, that signals a higher beta to idiosyncratic moves and potential forced selling dynamics.

For allocators and peers, the filing is a reminder that 13Fs are best used in concert with other signals—earnings activity, options flow, and corporate insider transactions—to infer intent. Fazen Markets research suggests cross-referencing holdings with short interest and options open interest can reveal whether a concentrated position is net directional or hedged; for example, a large call open interest against a disclosed holding may indicate derivative-based leverage not visible from the 13F alone. Readers seeking further context on interpreting filings and tracking sequential changes can consult our institutional primer and thematic trackers at topic.

Outlook

Looking ahead to Q2 2026, the interplay between macro data and sector rotation will be key to whether Baker’s tech overweight pays off. If macro indicators—employment data and CPI readings in May and June 2026—suggest a slower disinflation path, growth exposures could face renewed volatility, testing the manager’s conviction. Should energy prices stabilize or rise on geopolitical or demand-driven shocks, the selective energy holdings could provide asymmetric upside and a partial hedge against a tech drawdown.

Investors and counterparties should watch for three observable signals: (1) changes in reported share counts and market value in the next 13F, (2) material increases in options open interest around disclosed names, and (3) corporate insider or institutional block trade filings that could presage position changes. Sequential 13F analysis remains one of the most cost-effective ways to infer manager behaviour, but it requires disciplined cross-checking against market flows and other regulatory disclosures to avoid overinterpreting static snapshots.

Bottom Line

Baker Chad R’s Apr 17, 2026 13F reveals a $512.3m concentrated long-equity portfolio with top-three holdings making up about 45% of reported assets, signaling high conviction in large-cap tech and select energy names. Monitor sequential filings and derivative flows for confirmation of strategy shifts.

Disclaimer: This article is for informational purposes only and does not constitute investment advice.

FAQ

Q: Does the Form 13F show short positions or options used by Baker Chad R?

A: No. By construction, 13F filings disclose only long equity positions held at quarter-end. They do not reveal short positions, options, or other derivatives. For derivative exposure you must check Form 4 filings, options exchanges data, or 8-K/13D filings where relevant.

Q: How quickly should market participants expect to see any trading impact from this 13F disclosure?

A: Market impact from a single manager’s 13F is typically limited and delayed; the filing reflects quarter-end positions and trading occurs intra-quarter. Liquid large-caps are unlikely to move materially, while mid- and small-cap names disclosed could experience greater price sensitivity if the manager increases or decreases positions in subsequent quarters.

Q: How can investors verify the figures cited in the article?

A: The primary source is the SEC EDGAR database for the Form 13F file dated Apr 17, 2026; Investing.com published a summary on the same date (Apr 17, 2026). For benchmarking and sector weights, consult S&P Dow Jones Indices and ETFGI Q1 2026 flow reports.