Fifty-four of the top-200 alpha cohort opened new positions in GE Vernova ($GEV) in Q1 2026, bringing total cohort holders to 75. The headline initiator by weight is Terra Nova Asset Management, which entered at 4.32%, followed by Settian Capital LP at 3.67%. Coatue Management (Philippe Laffont) was the quarter's most consequential adder among existing holders, lifting its weight from 5.51% to 7.73% — a +2.22pp move that makes it the second-largest cohort position.
Among holders carried over from Q4 2025, Sirios Capital Management held the largest position at 13.01% (essentially flat, -0.06pp). Citigroup trimmed sharply, cutting from 2.07% to 0.44% (-1.63pp), the only meaningful reduction in the cohort. Connor, Clark & Lunn Investment Management exited outright, from 0.22% to zero. One fund trimmed; one exited; 54 initiated. The directional skew is not subtle.
Across all 75 cohort holders, the average position weight sits at 0.8%, with a range spanning 0.01% (Linscomb Wealth, Banque Pictet) to 13.01% (Sirios). Concentration is extreme at the top: Sirios and Coatue together account for a disproportionate share of cohort-weighted exposure, while the bulk of the 54 initiators clustered well below 0.5%. This is a wide-distribution initiation wave, not a high-conviction pile-in from the largest funds.
Fifty-four simultaneous initiations in a single quarter is a structurally unusual figure. Whether that reflects index inclusion mechanics, ETF-adjacent rebalancing, or genuine conviction is not answerable from 13F data alone — but the count is worth noting without embellishment.