Superinvestors reveal their cards: what did they buy and sell in the first quarter of this year?

17.05.2023 14:49|Analyst Team, Conotoxia Ltd.

And we've got it! More than 70 investment reports for Q1 this year from super-investor funds. What did the best of the best in this market invest in and walk away from? Let's try to look at it holistically and learn from it.

Which sectors did superinvestors bet on?

A 13F report is a form that investment funds in the United States must file if they control or manage assets of $100 million or more. Form 13F contains information about investments in individual listed companies, including the number of shares and the value of those investments at the end of each quarter. This information is publicly available on the US regulator's (SEC) website.

Superinvestor funds made the largest net purchases in the energy sector, followed by the healthcare sector and closing the podium was the communication services sector. If we look at stocks bought and sold individually, the balance comes out close to zero, with a slight majority retaining buy positions. Among those sold, the consumer products and information technology sectors led the way. It seems that this may have affected the listing of the Consumer Discretionary Select Sector SPDR Fund (XLY).

Source: https://www.dataroma.com/m/stats/stats.php?o=n

Source: Conotoxia MT5, XLY, Daily

The most popular stocks

As many as 13 super investors have invested in shares of Amazon, one of the largest global internet and e-commerce companies. It now accounts for 1.7% of the value of all superinvestors' portfolios. Leading the way was David Katz, CEO of Matrix Asset Advisor. He increased the position by more than 110%, which now accounts for 1% of his portfolio.

Source: Conotoxia MT5, Amazon, Daily

Alphabet (Google), the technology giant, was the second most purchased company by investment funds. 13 funds decided to buy shares in this company. Alphabet now accounts for 1.6% of the total value of superinvestors' portfolios. The largest buyer in the last quarter was Chase Coleman of the Tiger Global Management fund, which increased the company's stake in the fund under management to 4.4% of its value.

Source: Conotoxia MT5, Alphabet, Daily

US-based Intuit, which specialises in providing accounting software and financial services to businesses, was also among the most frequently bought by investors. The company has steadily increased its profits over the past 10 years. Despite this, the share price is still around its three-year lows. It was recently bought by a total of 7 super-investors, making Intuit's shares now account for 0.5% of the value of their portfolios. The largest buyer of this company was again Chase Coleman of the Tiger Global Management fund, who increased his investment in Intuit by more than 300 times. Currently, this company's share of the fund's portfolio stands at 1.8%.

Source: Conotoxia MT5, Intuit, Daily

These companies were disposed of by super-investors

It turns out that Alphabet's main competitor, Microsoft, was the most heavily traded company among superinvestors. Surprisingly, as many as 15 of them decided to reduce their holdings, while only nine increased their holdings. The biggest seller was hedge fund Viking Global Investors, which divested as much as 69% of its shares in the company.

Source: Conotoxia MT5, Microsoft, Daily

Meta Platforms (Facebook) turned out to be the second most frequently traded company, traded by 14 superinvestors (nine of whom made a purchase). It is worth noting that it is now the fourth most widely held company among superinvestors, accounting for as much as 1.9% of the value of all portfolios. Two funds - Seth Klarman of Baupost Group and Glenn Greenberg of Brave Warrior Advisors - decided to sell all of their Meta Platforms holdings.

Source: Conotoxia MT5, Facebook, Daily

 

Grzegorz Dróżdż, CAI, Market Analyst of Conotoxia Ltd. (Conotoxia investment service)

Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 73.18% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Like the article?
Share it with friends!


See also:

May 16, 2023 1:18 pm

Is the ZEW indicator reliable? Effectiveness analysis

May 15, 2023 10:42 am

Tether pushes out doubts about its stability, but is this enough for the market?

May 12, 2023 9:18 am

Record heat in Southeast Asia. What impact could they have on markets?

May 10, 2023 10:11 am

Poland joins other countries, buyers of gold. Can bullion gain in value?

May 9, 2023 11:00 am

Investment legend Carl Icahn under pressure following publication of Hindenburg Research report, or how reputation obscured reality

May 8, 2023 3:37 pm

Apple launched a savings account - what inspired it, and what could be the next steps?

71.98% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.98% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading on CFDs is provided by Conotoxia Ltd. (CySEC no.336/17), which has the right to use the Conotoxia trademark.