Q1 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios

The latest round of 13F filings from institutional investors were out this week, revealing to the world the stocks that some of the richest and most successful investors have been buying and selling.

Takeaways From 13F Season

Investors who follow particular fund managers can easily look up what each was buying and selling in the quarter, but other investors may be more interested in overall themes from 13F filings. Overall, it appears fund managers were doing more selling than buying of many popular tickers.

• Managers were more bullish that bearish on FANG stocks. Soros was the exception, buying Netflix but selling Amazon and Alphabet.
• Among the FANG stocks, managers were most bullish on Netflix, with Loeb, Coleman and Soros all adding to their stakes.
• Despite major trade war headlines, fund managers mostly ignored Apple in the first quarter. Rosenstein cut his Apple stake for the second consecutive quarter.
• Adobe was on fund managers’ radars in the first quarter, but they weren’t on the same page. Cooperman and Soros were buying, while Rosenstein and Coleman were selling.
• Warren Buffett made his first venture into FANG territory, buying Amazon for the first time.

Related Link: Form 13F: What It Is And Why It's Important

Here’s a rundown of how the smart money was playing some of the most popular stocks last quarter.

David Einhorn’s Greenlight Capital

Notable Q1 Buys/Increases:

• AerCap Holdings N.V. AER
• CNX Resources Corp CNX

Notable Q1 Sells/Decreases:

• General Motors Company GM
• Shutterfly, Inc. SFLY
• Chemours Co CC
• Dillards, Inc. DDS
• Tempur Sealy International Inc TPX
• Voya Financial Inc VOYA

Seth Klarman’s Baupest Group

Notable Q1 Buys/Increases:

• Liberty Global PLC Class C LBTYK
• eBay Inc EBAY
• CBS Corporation CBS
• Fox Corp FOX FOXA
• PG&E Corporation PCG
• Celgene Corporation CELG

Notable Q1 Sells/Reductions:

• Cardinal Health, Inc. CAH

• Leon Cooperman’s Omega Advisors

Notable Q1 Buys/Increases:

• Alphabet Inc GOOG GOOGL
• Adobe Inc ADBE
• Aspen Group Inc ASPU
• ARBOR RLTY TR I/SH ABR
• Delta Air Lines, Inc. DAL
• Ellington Financial Inc EFC
• MVC Capital, Inc. MVC
• Nabors Industries Ltd. NBR

Notable Q1 Sells/Decreases:

• None

Barry Rosenstein’s Jana Partners

Notable Q1 Buys/Increases:

• None

Notable Q1 Sells/Reductions:

• Apple Inc. AAPL
• Teva Pharmaceutical Industries Ltd TEVA
• Anthem Inc ANTM
• Boston Scientific Corporation BSX
• Mastercard Inc MA
• Microsoft Corporation MSFT
• Tiffany & Co. TIF
• Adobe

Chase Coleman’s Tiger Global

Notable Q1 Buys/Increases:

• 8x8, Inc. EGHT
• Netflix, Inc. NFLX
• Twilio Inc TWLO
• Facebook, Inc. FB

Notable Q1 Sells/Reductions:

• Spotify Technology SA SPOT
• Domino's Pizza, Inc. DPZ
• Booking Holdings Inc BKNG
• Adobe

Warren Buffett’s Berkshire Hathaway

Notable Q1 Buys/Increases:

• JPMorgan Chase & Co. JPM
• Amazon.com, Inc. AMZN
• Red Hat Inc RHT
• Delta

Notable Q1 Sells/Reductions:

• Phillips 66 PSX
• Charter Communications Inc CHTR
• Wells Fargo & Co. WFC
• Southwest Airlines Co LUV

Related Link: What Is The Buffett Indicator?

George Soros’ Soros Fund Management

Notable Q1 Buys/Increases:

• LYFT Inc LYFT
• Adobe
• Netflix
• Microsoft

Notable Q1 Sells/Reductions:

• Verizon Communications Inc. VZ
• Kraft Heinz Co KHC
• Amazon
• Alphabet

Carl Icahn’s Icahn Capital

Notable Q1 Buys/Increases:

• Caesars Entertainment Corporation CZR

Notable Q1 Sells/Reductions:

• Dell Technologies Inc DELL
• Diamondback Energy Inc FANG
• Cheniere Energy, Inc. LNG
• Hertz Global Holdings Inc HTZ
• Freeport-McMoRan Inc FCX
• CVR Refining LP CVRR
• Manitowoc Company Inc MTW

Bill Ackman’s Pershing Square Capital

Notable Q1 Buys/Increases:

• United Technologies Corporation UTX

Notable Q1 Sells/Reductions:

• Chipotle Mexican Grill, Inc. CMG
• Hilton Hotels Corporation HLT
• Lowe’s Companies, Inc. LOW
• Howard Hughes Corp HHC
• Restaurant Brands International Inc QSR
• Starbucks Corporation SBUX
• Automatic Data Processing ADP

Dan Loeb’s Third Point

Notable Q1 Buys/Increases:

• Marathon Petroleum Corp MPC
• Netflix
• Boston Scientific
• United Technologies
• Microsoft

Notable Q1 Sells/Decreases:

• American Express Company AXP
• Constellation Brands, Inc. Class A STZ
• Paypal Holdings Inc PYPL