Market Commentary

Here’s What Biggest Hedge Funds Were Trading in Q1

Huzaifa Waseem
6 Feb 2024 · 2 minutes read

The 13-F fillings were disclosed yesterday, the last day for large-money managers to report on their equity holdings for the first quarter that ended on March 31.

Investors tend to closely scrutinize these quarterly fillings and see what “smart money” is doing when it comes to the market.

Warren Buffett is always at the center of investor attention with the legendary investor seen making trades in the embattled banking sector. Mr. Buffett opened a position in Capital One Financial (COF:US) while liquidating positions in the Bank of New York (BK:US) and U.S. Bancorp (USB:US).

In terms of owning banks, events will determine their future and you’ve got politicians involved, you’ve got a whole lot of people who don’t really understand how the system works,” Buffett said at the recent annual shareholder meeting.

The billionaire also bought more shares of Citigroup (C:US) and Bank of America (BAC:US). Other than the banking sector, Buffett added to his position in Apple (AAPL:US), as well as buying more shares of HP (HPQ:US), Occidental Petroleum (OXY:US), and Paramount Global (PARA:US).

On the other hand, he lowered the Chevron (CVX:US) stake, as well as his positions in General Motors (GM:US) and Amazon (AMZN:US).

Aside from Buffett, Bill Ackman’s Pershing Square Capital disclosed a big position in Alphabet (GOOGL:US), whose stock has enjoyed a great first half of the year given the investors’ heightened focus on AI-focused businesses. Ackamn’s GOOGL position is said to be valued at around $1.2 billion.

Elsewhere, Nelson Peltz’s Trian Fund Management meaningfully cut its stake in Walt Disney (DIS:US). The activist investor offloaded more than 5.9 million DIS shares, although Bloomberg reported that Peltz acquired about 500,000 more shares since the end of the first quarter.