Q3 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios

The latest round of 13F filings from institutional investors is out, 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. The third quarter of 2020 was an overall solid quarter for the S&P 500, and investors were likely interested in what top managers were buying and selling heading into the holiday shopping season.

Fund managers were dumping FANG stocks in the first quarter with a handful of exceptions. For example, Cooperman bought Alphabet.

PG&E was one stock several fund managers were playing in the quarter. Tepper and Klarman were buying while Soros was selling.

Buffett was aggressively buying health care stocks ahead of Joe Biden’s election victory.

Bank stocks were popular among fund managers in the quarter, with most managers selling rather than buying. Cooperman sold JPMorgan, Buffett sold JPMorgan and Wells Fargo and bought Bank of America, and Soros sold Bank of America, Citigroup, JPMorgan and Wells Fargo.

Several fund managers traded ETFs to play particular themes. Eingorn sold the GDX gold miners ETF and bought the GLD gold ETF. Soros made a big bet on tech stocks by buying the QQQ ETF and dumping the IGSB corporate bond fund.

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

Related Link: Why It's Unlikely Warren Buffett Is Actually Investing In Snowflake

David Einhorn’s Greenlight Capital
Notable Q3 Buys/Increases:

• SPDR Gold Trust GLD
• SYNNEX Corporation SNX
• NCR Corporation NCR
• Twitter Inc TWTR
• Intel Corporation INTC
• Ingredion Inc INGR
• Dillard's, Inc. DDS

Notable Q3 Sells/Reductions:

• VanEck Vectors Gold Miners Etf GDX
• AerCap Holdings N.V. AER
• Chemours Co CC
• Tempur Sealy International Inc TPX
• Whirlpool Corporation WHR

David Tepper’s Appaloosa Management
Notable Q3 Buys/Increases:

• PG&E Corporation PCG
• Micron Technology, Inc. MU

Notable Q3 Sells/Reductions:

• Alibaba Group Holding Ltd - ADR BABA
• Amazon.com, Inc. AMZN
• Facebook, Inc. FB
• Alphabet, Inc. GOOG GOOGL
• AT&T Inc. T
• Netflix Inc NFLX
• Tesla Inc TSLA
• Twitter Inc TWTR

Leon Cooperman’s Omega Advisors
Notable Q3 Buys/Increases:

• Athene Holding Ltd ATH
• Vertiv Holdings Co VRT
• Motorola Solutions Inc MSI
• Navient Corp NAVI
• Alphabet, Inc. GOOG GOOGL

Notable Q3 Sells/Reductions:

• JPMorgan Chase & Co. JPM
• Centene Corp CNC
• Cigna Corp CI
• Gray Television, Inc. GTN

Barry Rosenstein’s Jana Partners
Notable Q3 Buys/Increases:

• SPDR S&P 500 ETF Trust SPY

Notable Q3 Sells/Reductions:

• Axalta Coating Systems Ltd AXTA
• Callaway Golf Co ELY
• Bloomin' Brands Inc BLMN
• HD Supply Holdings Inc HDS

Jeff Smith’s Starboard Value
Notable Q3 Buys/Increases:

• Corteva Inc CTVA
• ACI Worldwide Inc ACIW
• SPDR S&P 500 ETF Trust SPY

Notable Q3 Sells/Reductions:

• NortonLifeLock Inc NLOK
• Advance Auto Parts, Inc. AAP

Warren Buffett’s Berkshire Hathaway
Notable Q3 Buys/Increases:

• AbbVie Inc ABBV
• Merck & Co., Inc. MRK
• Bristol-Myers Squibb Co BMY
• Snowflake Inc SNOW
• T-Mobile Us Inc TMUS
• Pfizer Inc. PFE
• Bank of America Corp BAC
• General Motors Company GM
• Kroger Co KR

Notable Q3 Sells/Reductions:

• Apple Inc AAPL
• Davita Inc DVA
• Wells Fargo & Co WFC
• JPMorgan Chase & Co. JPM

George Soros’ Soros Fund Management
Notable Q3 Buys/Increases:

• Invesco QQQ Trust Series 1 QQQ
• Palantir Technologies Inc PLTR
• Walt Disney Co DIS
• D. R. Horton Inc DHI

Notable Q3 Sells/Reductions:

• iShares 1-5 Year Investment Grade Corporate Bd ETF IGSB
• T-Mobile Us Inc TMUS
• PG&E Corporation PCG
• Alphabet, Inc. GOOG GOOGL
• Wells Fargo & Co WFC
• JPMorgan Chase & Co. JPM
• Citigroup Inc C
• Bank of America Corp BAC

Carl Icahn’s Icahn Capital
Notable Q3 Buys/Increases:

• Icahn Enterprises LP Common Stock IEP
• Xerox Holdings Corp XRX

Notable Q3 Sells/Reductions:

• Herbalife Nutrition Ltd HLF
• Cheniere Energy, Inc. LNG

Bill Ackman’s Pershing Square Capital
Notable Q3 Buys/Increases:
(none)
Notable Q3 Sells/Reductions:

• Lowe’s Companies Inc LOW
• Agilent Technologies Inc A
• Hilton Hotels Corporation HLT

Seth Klarman’s Baupost Group
Notable Q3 Buys/Increases:

• Pershing Square Tontine Holdings PSTH
• Micron Technology, Inc. MU
• PG&E Corporation PCG
• Liberty Sirius XM Group LSXMK

Notable Q3 Sells/Reductions:

• Akebia Therapeutics Inc AKBA
• eBay Inc EBAY
• Alphabet, Inc. GOOG GOOGL
• Facebook, Inc. FB
• Fox Corp FOX FOXA