Berkshire Hathaway (BRKB) retrieved RH (RH) and Occidental Petroleum (OXY) in the third quarter, but Warren Buffett trimmed his Apple (AAPL) stake, the most recent quarterly filings with the SEC show. Hedge funds bought Facebook (FB) and Amazon (AMZN) as shares sold in an unstable quarter.
Individual investors use regulatory data to measure where "smart money" bets. The 13F records show holdings at the end of each quarter, so hedge funds may have made changes in stock positions since that time.
Warren Buffett Buys RH Stock, Occidental Stock
Berkshire Hathaway sold more than 750,000 shares in Apple and more than 31 million shares in Wells Fargo (WFC) in the third quarter, but left existing shares in other top 10 stocks in its portfolio remained unchanged.
Meanwhile, the Warren Buffett-driven company took new positions in RH and Occidental bought 1.2 million shares in the advanced furniture chain formerly called Restoration Hardware, worth around $ 206 million as well as 7.5 million shares in the oil giant worth about $ 332 million. Revenue accounts for approximately 0.1% of Berkshire's portfolio properties.
Earlier this year, Berkshire Hathaway invested $ 10 billion in Occidental to help secure funding for its $ 38 billion acquisition of Andarko Petroleum. its stake in Wells Fargo by 7%, in Phillips 66 (PSX) by 6% and in Sirius XM (SIRI) by 1%.
In Q2, Berkshire had left unchanged its position in the Apple stock, which remains the No. 1 stock in Buffett's portfolio to 26% of assets, per 13F records tracked by Whalewisdom.com.
The RH stock jumped 5.8% to 185.35 in the stock market today, gaping over its 50-day line, but comes off the day's highlights. Occidental rose 2.5%, Apple rose 0.7%, and Wells Fargo added 0.1%.
David Tepper's Appaloosa Management grew stakes in the three largest positions: Alphabet (GOOG) of 106%, Facebook with 52%, and Amazon (AMZN) by 43%. The fund increased its Micron Technology (MU) position by 566% and ditched the Centene (CNC) completely after picking up shares the previous quarter.
Bill Ackman's Pershing Square Capital Management dumped ADP (ADP), which it had first picked up in the second quarter of 2017 and last made up 10% of its portfolio. It increased its stake in Berkshire Hathaway – which it had picked up in the second quarter – by 14%. The fund purchased about half a million B shares of Berkshire stock in the third quarter, taking the total to more than 4 million shares. The top holdings in the portfolio by weighting – Restaurant Brands (QSR) and Chipotle Mexican Grill (CMG) – received a 3% haircut.
Third Point Management activist Dan Loeb was active in Q3, adding and dumping more shares. The fund's largest new acquisition in the quarter was Allergan (AGN), of which it purchased 3.6 million shares worth $ 605.8 million. It sold out of Netflix (NFLX).
Among the three largest stocks in the portfolio, Third Point retained its stake in United Technologies (UTX), but lowered Baxter International (BAX) by 26% and Campbell Soup (CPB) by 8%. Loeb applied for the collapse of the industrial giant United Technologies and countered that the company's planned merger with defense contractor Raytheon (RTN).
Paul Singer's Elliott Management assumed a new position in AT&T (T) and closed FirstEnergy (FE). The Fund's ownership interest in the top portfolio stock Dell Technologies (DELL) grew by 1%, to a total of 13 million shares. Marathon Petroleum (MPC), the No. 2 share by portfolio weight, grew by 86% to a total of 8.6 million shares.
The activist fund helmed by Barry Rosenstein left Falcon Minerals (FLMN) in the third quarter, after cutting its stake in the Eagle Ford Shale drilling company the previous quarter. The Rosenstein Fund took a large new stake in the food chain Bloomin & # 39; Brands (BLMN), to 12% of the portfolio share.
Jana Partners retained its ownership interest in Callaway Golf (ELY) and ConAgra (CAG) unchanged. The ConAgra share is Janas No. 1 by market value. This year, Jana Partners liquidated two equity picking funds to focus on activism and investment in social impact. Outback Steakhouse owner Bloomin & # 39; Brands explores strategic options, including sales, following Jana's pressure for change, according to Reuters.
Tiger Global Management
Chase Coleman's Tiger Global Management hedge fund uploaded on software shares and IPOs, including New Relic (NEWR), Wayfair (W), Anaplan (PLAN), Slack Technologies (WORK), Beyond Meat (BYND) and Workday (WDAY).
The New York-based group unloaded small bets in Pivotal Software (PVTL), Luckin Coffee (LK) and Eventbrite (EB ). Ranked. 1 portfolio containing Microsoft (MSFT) was unchanged, to 11% of assets.
Among other top 10 stocks in the portfolio, the fund maintained shares in Amazon and Netflix (NFLX) while growing Facebook and Alibaba (BABA) with millions of shares each.
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