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. Overall, it appears buying and selling among fund managers was split relatively evenly in the third quarter.

• Surprisingly, despite a 27.1% drop in Netflix, Inc. NFLX shares in the third quarter, no major fund manager mentioned below was buying or selling shares.
• The FANG group didn’t get much attention at all in the third quarter aside from David Tepper buying Facebook, Amazon and Google.
• Carl Icahn took a gamble on Caesars Entertainment, while George Soros dialed back his position.
• Several fund managers made major adjustments to their ETF positions, including Tepper selling the XOP ETF, Leon Cooperman buying the GLD ETF, and Soros selling both the QQQ and the IWB funds.
• As interest rates fell, dividend stocks were getting some love this quarter, with fund managers buying stocks like General Motors, BP and Carnival, each of which yield more than 4%.

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 Q3 Buys/Increases:

• Chemours Co CC
• Brighthouse Financial Inc BHF
• General Motors Company GM
• Neubase Therapeutics Inc NBSE
• Adient PLC ADNT

David Tepper’s Appaloosa Management

• Hilton Grand Vacations Inc HGV
• KAR Auction Services Inc KAR
• Valaris PLC VAL
• Dillard's, Inc. DDS

Notable Q3 Buys/Increases:

• Alphabet Inc Class C GOOG
• Micron Technology, Inc. MU
• Alibaba Group Holding Ltd - ADR BABA
• Facebook, Inc. FB
• Amazon.com, Inc. AMZN
• PG&E Corporation PCG
• Boeing Co BA

Notable Q3 Sells/Reductions:

• SPDR S&P Oil & Gas Explore & Prod. XOP

Leon Cooperman’s Omega Advisors

Notable Q3 Buys/Increases:

• Fiserv Inc FISV
• SPDR Gold Trust GLD
• Nabors Industries Ltd. NBR
• Carnival Corp CCL
• Navient Corp NAVI

Notable Q3 Sells/Decreases:

• Nielsen Holdings PLC NLSN
• Thermo Fisher Scientific Inc. TMO
• AMC NETWORKS INC AMCX

Barry Rosenstein’s Jana Partners

Notable Q3 Buys/Increases:

• Instructure Inc INST
• Bloomin' Brands Inc BLMN

Notable Q3 Sells/Reductions:

• Axalta Coating Systems Ltd AXTA
• Zimmer Biomet Holdings Inc ZBH
• HD Supply Holdings Inc HDS
• Jack in the Box Inc. JACK
• Falcon Minerals Corp FLMN

Jeff Smith’s Starboard Value

Notable Q3 Buys/Increases:

• Perrigo Company PLC PRGO
• Natus Medical Inc NTUS
• Marvell Technology Group Ltd. MRVL
• Dollar Tree, Inc. DLTR
• Cars.com Inc CARS

Notable Q3 Sells/Reductions:

• Box Inc BOX

Warren Buffett’s Berkshire Hathaway

Notable Q3 Buys/Increases:

• Occidental Petroleum Corporation OXY
• Restoration Hardware Holdings, Inc RH

Notable Q3 Sells/Reductions:

• Wells Fargo & Co WFC
• Apple Inc. AAPL
• Phillips 66 PSX
• Sirius XM Holdings Inc SIRI

George Soros’ Soros Fund Management

Notable Q3 Buys/Increases:

• Peloton Interactive Inc PTON
• Ally Financial Inc ALLY
• BP plc BP
• Citigroup Inc C
• Celgene Corporation CELG

Notable Q3 Sells/Reductions:

• PowerShares QQQ Trust, Series 1 QQQ
• Caesars Entertainment Corporation CZR
• Walt Disney Co DIS
• iShares Russell 1000 Index IWB
• Morgan Stanley MS
• Slack Technologies Inc WORK
• LYFT Inc LYFT

Carl Icahn’s Icahn Capital

Notable Q3 Buys/Increases:

• HP Inc HPQ
• Cloudera Inc CLDR
• Icahn Enterprises LP IEP
• Hertz Global Holdings Inc HTZ
• Conduent Inc CNDT
• Caesars Entertainment

Notable Q3 Sells/Reductions:

• Cheniere Energy, Inc. LNG
• Freeport-McMoRan Inc FCX
• Occidental Petroleum

Bill Ackman’s Pershing Square Capital

Notable Q3 Buys/Increases:

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

Notable Q3 Sells/Reductions:

• Automatic Data Processing ADP
• Chipotle Mexican Grill, Inc. CMG
• Hilton Hotels Corporation HLT
• Restaurant Brands International Inc QSR
• Lowe's Companies, Inc. LOW
• United Technologies Corporation UTX

Nelson Peltz’s Trian Partners

Notable Q3 Buys/Increases:

• Procter & Gamble Co PG
• MONDELEZ INTERNATIONAL INC MDLZ
• Legg Mason Inc LM
• General Electric Company GE

Notable Q3 Sells/Decreases:

• PPG Industries, Inc. PPG
• Wendys Co WEN
• Bank of New York Mellon Corp BK

Related Links:

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