Berkshire Hathaway (BRKB) picked up RH (RH) and Western Petroleum (OXY) in the third quarter, but Warren Buffett cut it Apple (AAPL) is at stake, filing the latest quarterly 13F with the SEC event. Hedge funds are bought Facebook (FB) and Amazon (AMZN) because shares are sold in a volatile quarter.
Individual investors use regulatory data to measure where "smart money" places their bets. The 13F filing shows ownership at the end of each quarter, so the hedge fund may have changed the position of the shares since then.
Warren Buffett Bought RH Stock, Occidental Stock
Berkshire Hathaway sold more than 750,000 shares of Apple and more than 31 million shares Wells Fargo (WFC) in Q3, but left the shares in the other top 10 shares in its portfolio unchanged.
Meanwhile, the company run by Warren Buffett took a new position in RH and Occidental, buying 1.2 million shares of a high-end furniture chain, formerly known as Restoration Hardware, valued at around $ 206 million and 7.5 million shares of oil giant worth around $ 332 million . Bets each account about 0.1% of Berkshire portfolio assets.
Earlier this year, Berkshire Hathaway invested $ 10 billion in Occidental to help secure funding for the $ 38 billion acquisition of Andarko Petroleum.
The 13F submission shows Berkshire Hathaway reducing its ownership in Wells Fargo by 7%, at Phillips 66 (PSX) by 6% and deep Sirius XM (SIRI) of 1%.
In Q2, Berkshire left its position unchanged in Apple shares, which remained the No. 1 in the Buffett portfolio with 26% of assets, according to the 13F submission that was tracked by Whalewisdom.com.
RH shares jumped 5.8% to 185.35 on the stock market today, moving above the 50-day line but coming out of intraday highs. Occidental rose 2.5%, Apple gained 0.7%, and Wells Fargo added 0.1%.
Appaloosa Management David Tepper grows his stakes in his three biggest positions: Alphabet (GOOG) by 106%, Facebook by 52%, and Amazon (AMZN) of 43%. These funds are increasing Micron Technology (MU) position is 566% and dumped Centene (CNC) entirely, after taking shares in the previous quarter.
Bill Ackman's Pershing Square Capital Management was dumped ADP (ADP), which was first taken in Q2 2017 and most recently contributed 10% of the portfolio. That's growing its stake in Berkshire Hathaway – which has been taken in Q2 – by 14%. The fund bought about half a million Class B shares from Berkshire shares in Q3, bringing the total to more than 4 million shares. Top ownership in a portfolio by considering – Restaurant Brands (QSR) and Chipotle Mexican Grill (CMG) – get each 3% haircut.
Activist investor Dan Loeb from Third Point Management is active in Q3, adding and disposing of some shares. The biggest new fund purchase in the quarter is Allergan (AGN), where he bought 3.6 million shares worth $ 605.8 million. It was sold out Netflix (NFLX).
Among the top three stocks in the portfolio, Third Point maintains its shares in United Technologies (UTX) but downgraded Baxter International (BAX) by 26% and Campbell Soup (CPB) of 8%. Loeb sought a solution to industry giant United Technologies and opposed the company's merger plan with a defense contractor Raytheon (RTN).
Elliott Management from Paul Singer took a new position AT&T (T) and closed FirstEnergy (FE). Ownership of funds in the top portfolio stock Dell technology (DELL) grew by 1%, to a total of 13 million shares. Marathon Petroleum (MPC), stock No. 2 based on portfolio weights, grew by 86% to a total of 8.6 million shares.
Activist funds led by Barry Rosenstein out Falcon mineral (FLMN) in Q3, after cutting its stake in the drilling company Eagle Ford Shale in the previous quarter. Dana Rosenstein is taking strong new shares in the dining chain Bloomin brand (BLMN), amounting to 12% of portfolio assets.
Mitra Jana still maintains its position Callaway Golf (ELY) and ConAgra (CAG) does not change. ConAgra's shares are owned by Jana No. 1 based on market value. This year, Mitra Jana liquidated two stock picking funds to focus on social impact activism and investment. Outback Steakhouse owner, Bloomin 'Brands is exploring strategic options, including sales, after Jana's push for change, according to Reuters.
Tiger Global Management
Chase Coleman's Tiger Global Management hedge fund is loaded on software shares and IPO shares, including New Relics (NEWR), Wayfair (W), Anaplan (PLAN), Slack Technology (WORK), Beyond Meat (BYND) and Working days (WDAY).
The New York-based group released small pegs in Important Software (PVTL), Luckin coffee (LK) and Eventbrite (EB). Portfolio handle No. 1 Microsoft (MSFT) did not change, amounting to 11% of assets.
Among the top 10 shares in the portfolio, the fund maintains shares in Amazon and Netflix (NFLX) while developing Facebook and Alibaba (BABA) by millions of shares each.
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