The latest 13F filings are out, and as always, they reveal some interesting institutional moves. I looked into what Warren Buffett's Berkshire Hathaway and Michael Burry's Scion Asset Management did in Q1 2025—not because I'm looking to copy them, but because I find it useful to understand how high-profile investors are adjusting in this market.
That said, I don't treat these filings as signals to buy or sell anything. I don't follow moves blindly, and I don't think they tell the whole story. But they can offer useful context—if I filter them through my own judgment.
Berkshire Hathaway's 13F filing
Berkshire Hathaway exited its positions in Citigroup and Nu Holdings. It also reduced stakes in Bank of America and Capital One Financial. That caught my attention. Cutting back now could mean Buffett sees more risk in financials—or simply better use of capital elsewhere.
Berkshire Hathaway added to a few holdings:
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Constellation Brands (STZ) – known for its strong lineup of alcohol brands like Corona and Modelo.
Constellation (STZ)
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VeriSign (VRSN) – a steady, profitable business with a strong position in domain name infrastructure.
VeriSign (VRSN)
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Pool Corp (POOL) – a supplier of swimming pool and outdoor products.
Pool (POOL)
To me, these buys look conservative and defensive. They're all cash-generating companies. This lines up with what Buffett usually does: he's not chasing trends. He's prioritizing reliable earnings and long-term durability.
Burry: All-Out Exit Except Estée Lauder
Michael Burry took a much more aggressive stance. He sold almost everything and held onto just Estée Lauder (EL).
Estee Lauder (EL)
So the fact that Burry held onto just this one name makes me think he sees deep value there, maybe expecting a recovery once demand returns or once the company gets costs under control.
It's also possible that he just wants to sit out for a while. Holding only one stock is a bold move, and it might reflect a bearish macro view more than conviction in just one company.
How I Think About 13F Filings?
I don't ignore 13F filings, but I also don't treat them as something I need to react to. When I see Buffett buying more of a company, I'll look at it more closely—not because he bought it, but because it might be something I missed.
At the same time, I'm not in a rush to do anything just because a fund made a move. There's always a time delay. By the time I see the filing, the market may have already moved, and the original reason for the trade might no longer apply.
Also, I don't assume these investors are always right. They've made great calls, but they've had missteps too. Burry has made some big bearish bets that didn't work out. No one gets it right all the time, and I try to remember that when reading into their portfolios.
What matters to me is the reasoning behind the trade. If I can understand that and it makes sense to me, I'll dig deeper. Otherwise, I just note it and move on.
I don't treat 13F filings like a cheat sheet. But I do pay attention—especially when it's someone like Buffett who tends to hold long term. It's not about copying. It's about learning what might be driving their thinking, and then deciding for myself if it makes sense.
If I can understand the logic and it fits my own view, maybe I'll dig deeper. But I still rely more on my own analysis than on what anyone else is buying or selling.
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