📊 8 Superinvestor Stock Portfolios

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Happy Sunday.

This week, the S&P 500 closed up nearly 3%.

• Just a few weeks ago, the index was on the verge of a bear market after falling nearly 20%. 

• Now, it's up about 2% for the year, after rebounding 20% from its April lows.

A major catalyst came Monday, when the U.S. and China agreed to roll back tariffs for 90 days, easing trade tensions.

Meanwhile, last Thursday marked the 13F deadline, where fund managers with over $100M in assets disclosed their latest positions.

• These filings offer a rare look into what some of the world’s top investors have been buying and selling.

Below, I break down eight key portfolios and their most notable trades.

Some key data bites from this week that you should know:

• Inflation increased 2.3% YoY in April, slowest pace since early 2021.

• Trump to mandate up to an 80% cut in US prescription drug costs.

• Steve Cohen sees US recession probability at 45%.

• Perplexity is planning to raise $500M at a $14B valuation.

• Qatar gifted the Trump admin a $400M super luxury jet.

• Qatar pledged $244B in deals with the US.

• Boeing and Qatar Airways have agreed to a $96B deal.

• Trump and MBS pledge $1T in commercial deals.

• Nvidia to sell 18,000 AI chips to Saudi firm Humain.

• Nvidia set to export 500,000 AI chips annually to UAE.

• AMD will provide AI chips and software to Saudi Arabia in a $10B project.

• AMD announced a $6B share buyback.

• CrowdStrike’s CEO gifted over $1B of stock to undisclosed recipients.

• McDonald’s plans to hire 375,000 workers this summer.

• Cava saw Q1 same-store sales climb nearly 11%.

• Microsoft to lay off 6,000 people, or 3% of its workforce.

• Netflix’s ad tier now has 94M monthly active users.

• Father-son duo sentenced over $100M New Jersey deli fraud.

• Dick’s Sporting Goods to buy Foot Locker for $2.4B.

• Coinbase’s breach may cost up to $400M after support agents were bribed.

• Charter and Cox will merge in a $34.5B deal.

In today’s newsletter:

• 🐐 Warren Buffett Stock Portfolio

• 🐻 Michael Burry’s Stock Portfolio

• 🚕 Bill Ackman’s Stock Portfolio

• 🇨🇳 David Tepper’s Stock Portfolio

• 🧠 Stanley Druckenmiller’s Stock Portfolio

• 📱 Chase Coleman’s Stock Portfolio

• 💸 Seth Klarman’s Stock Portfolio

• 🚗 Pat Dorsey’s Stock Portfolio

Let’s jump right in.

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Warren Buffett’s portfolio is always the most closely watched when 13F filings drop, and for good reason.

This week, in a phone interview with the WSJ, the legendary investor reflected on aging, saying he didn’t start to feel old until around 90.

• Since then, he’s become more conscious of the physical toll, which played into his decision to step down.

• He’ll continue to lead Berkshire Hathaway through the end of the year, and stay on as chairman afterward.

From a portfolio standpoint, the changes were minimal.

• The most notable move was a 7.15% trim to Bank of America, shifting it from a top-three position to his fourth-largest holding.

• Buffett also fully exited Citigroup and Nu Holdings, while modestly adding to Constellation Brands.

Still, these moves had little impact overall.

• His core holdings, Apple, American Express, Coca-Cola, and Chevron, remain largely unchanged.

Michael Burry has long been known for his bearish takes and his famous bet against the housing market in 2008.

This quarter, he stuck to that playbook, exiting every single common stock holding except Estee Lauder, which he doubled down on.

• At the same time, he initiated put options on Nvidia and a slate of Chinese names including Alibaba, Pinduoduo, JD.com, and Baidu.

• He also opened a new put position against Trip.com.

One important note: the portfolio weightings for these options are based on notional value, the full value of the underlying stocks, not the actual premiums paid.

• That makes the positions look much larger than the capital he likely deployed.

Also keep in mind that this snapshot reflects Burry’s positions at the end of Q1.

• Since Burry is an active trader, he may have already exited many of these bets.

Bill is betting big on Uber.

• In Q1, he initiated a sizable new position that now makes up 18.5% of his equity portfolio.

He also added to his holdings in Brookfield and Hertz.

On the flip side, Ackman trimmed his stakes in Hilton, Alphabet, and Chipotle, and fully exited his Nike common stock position.

• However, while many headlines noted he sold out of Nike stock, they missed that Pershing Square still owns over-the-counter call options in a similar notional amount.

Last fall, David Tepper was a vocal bull on Chinese equities, citing the potential for stronger than expected government stimulus.

But this past quarter, he pulled back.

• Tepper trimmed several of his top Chinese positions, cutting Alibaba by 22%, Pinduoduo by 18%, JD by 23%, and Baidu by 49%.

He also added some bearish bets, including a put position on the S&P 500 Fossil Fuel Reserves Free ETF, which screens out companies with fossil fuel reserves, and a smaller put position on Apple.

Still, Tepper hasn’t turned bearish overall.

• He boosted his stakes in major U.S. tech names like Meta, Google, and Uber, signaling continued optimism in the sector.

Legendary investor Stanley Druckenmiller had a notably active quarter.

He initiated a new stake in DocuSign, which now makes up 2.86% of his portfolio, placing it among his top 10 positions.

• He also increased several existing bets, including Teva Pharmaceutical by 65%, Coupang by 4.5%, Insmed by 131%, and Taiwan Semi by a striking 456%.

• On the trimming side, he pared back Natera by 5%, along with Woodward by 10% and Philip Morris by 18%.

Billionaire tech investor Chase Coleman was just as active this quarter.

He initiated new positions in AppLovin, Zillow, and GE Vernova, and made a major move in Veeva Systems, increasing his stake by 540%.

• He also added to several high-profile names including Microsoft, Pinduoduo, Nvidia, Reddit, and Coupang.

• On the trimming side, he reduced his Apollo stake by 49% and slashed his Uber position by 94%.

Lastly, Coleman fully exited positions in Qualcomm, Datadog, Atlassian, and several others.

Seth Klarman is often regarded as the second greatest investor of all time, having averaged a 20% CAGR since 1982.

• But in recent years, his fund has faced challenges, including client withdrawals and weaker returns.

His biggest move this quarter was a new stake in Fidelity National Information Services, now 7.49% of his portfolio.

Among his top holdings, he boosted Alphabet by 46%, WESCO by 40%, and Restaurant Brands International by 34%.

On the other hand, he trimmed Liberty Global by 38%, Willis Towers Watson by 17%, and slashed Clarivate by 70%.

Pat Dorsey, best known for developing Morningstar’s economic moat ratings, runs a tightly concentrated portfolio centered on companies with wide moats.

Q1 brought plenty of activity.

He opened new positions in AerCap, Booking, and ASML, while also adding significantly to existing bets.

• His stakes in Danaher and Meta rose 75% and 19%, respectively.

At the same time, he trimmed Wix by 45% and PayPal by 34%.

• He also fully exited Upwork and HERC Holdings.

And while he previously held Smartsheet, the company was acquired in a take-private deal by Vista Equity Partners in Q1.

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Notable Companies Reporting Earnings Week of May 18th, 2025:

Here’s what I will be watching this week:

• Monday: Trip.com $TCOM

• Tuesday: Home Depot $HD, Palo Alto Networks $PANW

• Wednesday: Baidu $BIDU, Snowflake $SNOW

• Thursday: Analog Devices $ADI, Intuit $INTU

EarningsHub helps me stay on top of earnings, forecasts, and AI-powered call recaps.

It’s free, and perfect if you want to track every major company reporting.

Buys

• Kevin Hern (R)

  • Company: BNP Paribas ($BNPQY)

    • Amount Purchased: $1.25M - $5.5M

  • Company: Goldman Sachs ($GS)

    • Amount Purchased: $250K - $100K

• Michael McCaul (R)

  • Company: Merck & Co ($MRK)

    • Amount Purchased: $100K - $250K

  • Company: Nucor ($NUE)

    • Amount Purchased: $100K - $250K

Sells

• Greg Landsman (D)

  • Company: Kroger ($KR)

    • Amount Sold: $250K - $500K

• Michael McCaul (R)

  • Company: AMD ($AMD)

    • Amount Sold: $100K - $250K

  • Company: CVS ($CVS)

    • Amount Sold: $100K - $250K

Buys

• Middleby Corp ($MIDD)

  • Insider: Edward Garden (Director)

    • # of Shares Purchased: 300,289

    • $ Amount: $44,871,869

    • SEC Forms: [1], [2]

• United Health Group ($UNH)

  • Insider: Stephen Hemsley (CEO, UHG)

    • # of Shares Purchased: 86,700

    • $ Amount: $25,019,019

    • SEC Forms: [1]

  • Insider: John Rex (President & CFO)

    • # of Shares Purchased: 17,175

    • $ Amount: $4,999,919

    • SEC Forms: [1]

  • Insider: Kristen Gil (Director)

    • # of Shares Purchased: 3,700

    • $ Amount: $1,003,329

    • SEC Forms: [1]

  • Insider: Timothy Flynn (Director)

    • # of Shares Purchased: 1,533

    • $ Amount: $491,786

    • SEC Forms: [1]

Sells

• Primo Brands ($PRMB)

  • Insider: Tony Lee (Director)

    • # of Shares Sold: 50,657,562

    • $ Amount: $1,604,324,989

    • SEC Forms: [1]

• Klaviyo ($KVYO)

  • Insider: Andrew Bialecki (CEO)

    • # of Shares Sold: 10,969,078

    • $ Amount: $360,827,821

    • SEC Forms: [1]

🤝 Review of the Week