Q2 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. Amazon and Alphabet were the top choices.
• On the China front, Tepper was selling both Alibaba and Altaba.
• Despite major trade war headlines, fund managers mostly ignored Apple in the second quarter.
• Managers seem to be bearish on the outlook for oil stocks, with Cooperman and Icahn selling Diamondback Energy, Einhorn selling Seadrill and Klarman selling Pioneer Natural Resources.
• A quarter after taking his first stake in Amazon, Buffett added to his position, and Ackman gave Buffett a vote of confidence by buying Berkshire shares.

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 Q2 Buys/Increases:

• Cars.com Inc CARS
• CNX Resources Corp CNX
• Chemours Co CC
• Scientific Games Corp SGMS
• Dillards, Inc. DDS

Notable Q2 Sells/Decreases:

• General Motors Company GM
• Tempur Sealy International Inc TPX
• Seadrill Ltd SDRL
• Hilton Grand Vacations Inc HGV

Seth Klarman’s Baupest Group

Notable Q2 Buys/Increases:

• XPO Logistics Inc XPO
• Bristol-Myers Squibb Co BMY
• Liberty Global PLC Class A LBTYA
• Nexstar Media Group Inc NXST

Notable Q2 Sells/Reductions:

• Celgene Corporation CELG
• Walt Disney Co DIS
• Pioneer Natural Resources PXD

Leon Cooperman’s Omega Advisors

Notable Q2 Buys/Increases:

• Nabors Industries Ltd. NBR
• Diamondback Energy Inc FANG
• Wells Fargo & Co WFC
• Carnival Corp CCL

Notable Q2 Sells/Decreases:

• DuPont de Nemours Inc DD
• Marathon Petroleum Corp MPC
• CVS Health Corp CVS
• Delta Air Lines, Inc. DAL

Barry Rosenstein’s Jana Partners

Notable Q2 Buys/Increases:

• Axalta Coating Systems Ltd AXTA
• Callaway Golf Co ELY
• Jack in the Box Inc. JACK
• Zimmer Biomet Holdings Inc ZBH

Notable Q2 Sells/Reductions:

• Falcon Minerals Corp FLMN
• Tiffany & Co. TIF
• SPDR S&P 500 ETF Trust SPY

Chase Coleman’s Tiger Global

Notable Q2 Buys/Increases:

• Uber Technologies Inc UBER
• Facebook, Inc. FB
• Microsoft Corporation MSFT
• Chewy Inc CHWY

Notable Q2 Sells/Reductions:

• Spotify Technology SA SPOT
• Domino's Pizza, Inc. DPZ
• Booking Holdings Inc BKNG
• Restaurant Brands International Inc QSR

Warren Buffett’s Berkshire Hathaway

Notable Q2 Buys/Increases:

• Amazon.com, Inc. AMZN
• Bank of America Corp BAC
• U.S. Bancorp USB

Notable Q2 Sells/Reductions:

• Charter Communications Inc CHTR
• USG Corporation USG

Related Link: What Is The Buffett Indicator?

George Soros’ Soros Fund Management

Notable Q2 Buys/Increases:

• Allergan plc AGN
• Visa Inc V
• Slack Technologies Inc WORK
• ANNALY CAP MGMT/SH NLY
• Symantec Corporation SYMC
• eBay Inc EBAY
• Colgate-Palmolive Company CL

Notable Q2 Sells/Reductions:

• Adobe Inc ADBE
• Coty Inc COTY
• Netflix Inc NFLX
• Comcast Corporation CMCSA
• T-Mobile Us Inc TMUS
• World Wrestling Entertainment, Inc. WWE
• Microsoft

Carl Icahn’s Icahn Capital

Notable Q2 Buys/Increases:

• Occidental Petroleum Corporation OXY
• Icahn Enterprises LP Common Stock IEP
• Conduent Inc CNDT

Notable Q2 Sells/Reductions:

• Freeport-McMoRan Inc FCX
• Cheniere Energy, Inc. LNG
• Diamondback Energy

Bill Ackman’s Pershing Square Capital

Notable Q2 Buys/Increases:

• Berkshire Hathaway Inc. Class B (NYSE: BRK-B)

Notable Q2 Sells/Reductions:

• United Technologies Corporation UTX
• Lowe’s Companies, Inc. LOW
• Chipotle Mexican Grill, Inc. CMG
• Starbucks Corporation SBUX
• Restaurant Brands International

David Tepper’s Appaloosa Management

Notable Q2 Buys/Increases:

• QUALCOMM, Inc. QCOM
• Humana Inc HUM
• Alphabet Inc GOOG GOOGL
• Amazon

Notable Q2 Sells/Decreases:

• Altaba Inc AABA
• Micron Technology, Inc. MU
• PG&E Corporation PCG
• Alibaba Group Holding Ltd - ADR BABA
• T-Mobile
• Facebook