A raft of the biggest US investors, like Warren Buffett, the Big Short’s Michael Burry, and Bill Ackman have disclosed which stocks they’ve bought and sold over the last three months.
The holdings were revealed in 13-F filings last night, which all US funds worth over $100m have to file with the Securities and Exchange Commission every quarter.
Warren Buffett’s stock portfolio
Most notably from the filings, Warren Buffett’s Berkshire Hathaway sold more than 389 million Apple shares, hinting that tax planning was behind the sale.
Buffett started buying into Apple in 2016, and still owns 400 million of the iPhone maker’s shares.
Berkshire Hathaway also cut its investments in a variety of companies, including Bank of America, T Mobile, and Chevron, as well as unloading its nearly $1bn investment in cloud company Snowflake.
This massive sale has ballooned Berkshire Hathaway’s cash pile to a record level of $277bn.
However, Buffett did pump more money into the insurer Chubb after revealing its position in the company last quarter, as well initiating new positions in cosmetics company Ulta Beauty and aerospace manufacturer Heico.
Michael Burry’s stock portfolio
Michael Burry attends the “The Big Short” New York premiere at Ziegfeld Theater (Photo by Jim Spellman/WireImage)
Michael Burry, the hedge fund manager made famous in The Big Short, now runs money through his Scion Asset Management fund, and continued to double down on his Chinese holdings throughout the quarter.
Burry added 30,000 shares to his position in Alibaba, bringing it to $11.2m, as well buying more Baidu, the dominant search engine in China.
The hedge fund manager, who famously shorted mortgage securities in the run up to the Global Financial Crisis, also exited many positions in Citigroup, Cigna Group and Block Inc.
Scion Capital now holds positions in only 10 stocks, with a total value of more than $52m, only half of the portfolio’s value last quarter.
Burry almost completely eliminated his position in energy and financial, both of which totalled about $18m in the previous quarter.
Bill Ackman’s stock portfolio
CEO and Portfolio Manager Pershing Square Capital Management L.P. Bill Ackman (Photo by Bryan Bedder/Getty Images for The New York Times )
Bill Ackman’s Pershing Square hedge fund bought new stakes in Nike and Brookfield, the first new investment from Pershing Square since it moved into Google parent Alphabet over a year ago.
Ackman previously invested in Nike in 2017 and made $100m in profit from the company.
Pershing Square also revealed that it had cut long-time holding Chipotle Mexican Grill by 23 per cent, after its CEO was poached to move to Starbucks last week.
The hedge fund manager has had a tough quarter, with his attempt to IPO in the US for $25bn coming crashing down last month.
Finally, another notable filing showed Goldman Sachs now has positions in seven of the 11 bitcoin ETFs in the US, totalling over $400m in bitcoin. The largest position was in the iShares Bitcoin Trust at $238.6m.