Top Institutions Continue to Hold Strong Tech Positions in Q3 13F Filings
The recent release of 13F reports from institutional investors has shed light on the shifting sands of Wall Street's investment landscape. These mandatory filings, required by the U.S. Securities and Exchange Commission (SEC) for institutions managing over $100 million in equity assets, provide a window into the portfolio adjustments of the financial world's heavyweights, including the likes of Berkshire Hathaway, Baillie Gifford, Bridgewater, and ARK Invest.
Berkshire Hathaway: Embracing Domino's Pizza and Pool
In the third quarter, Warren Buffett's Berkshire Hathaway established new positions in $Domino's Pizza(DPZ)$ and $Pool(POOL)$ , which resulted in an approximate 7% uptick in the prices of both stocks in Friday's premarket trading. Concurrently, Berkshire scaled down its stakes in $Apple(AAPL)$
Berkshire Hathaway expanded its investment in $Heico (HEI.US)$, a supplier of jet engines, building on the initial shares purchased in the second quarter. The firm also reduced its holdings in $Ulta Beauty (ULTA.US)$ and $Nu Holdings (NU.US)$, a Brazilian digital bank, and completely divested its interest in $Floor & Decor (FND.US)$ during the quarter, per data from whalewisdom.com.
Despite the reductions, Apple remains one of Berkshire's major investments, with Buffett maintaining ownership of 300,000 shares.
Baillie Gifford: Increasing Stakes in Shopify and Pinduoduo
In the third quarter, the total market value of US stock holdings for Baillie Gifford, a UK-based asset management firm with over a century of history, reached $134 billion, marking a modest rise from the previous quarter. The firm's major investments included the largest e-commerce marketplace in Latin America, $MercadoLibre (MELI.US)$, as well as $NVIDIA (NVDA.US)$, $Amazon (AMZN.US)$, $Spotify Technology (SPOT.US)$, and $Shopify (SHOP.US)$, with $PDD Holdings (PDD.US)$ ranking as the sixth-largest holding. Notably, among the major investments, Baillie Gifford increased its stakes only in Shopify and Pinduoduo in Q3.
The firm reduced its positions in several key technology stocks. The most substantial decreases were seen in NVIDIA, $Taiwan Semiconductor (TSM.US)$, and $Tesla (TSLA.US)$, where the reductions were $2.25 billion, $540 million, and $428 million, respectively.
Bridgewater: Betting on AMD and Apple
Bridgewater Associates exhibited a varied strategy with tech stocks, boosting their holdings in companies such as $Advanced Micro Devices (AMD.US)$, $Qualcomm (QCOM.US)$ and Apple. Simultaneously, they reduced their heavily invested positions in $NVIDIA (NVDA.US)$ and $Alphabet-A (GOOGL.US)$, with the share count declining by 27.48% and 3.54%, respectively, from the previous quarter.
The fund also showed interest in semiconductor firms like $Lam Research (LRCX.US)$ and $Constellation Energy (CEG.US)$ in the energy sector while decreasing its stakes in consumer staples, including $Procter & Gamble (PG.US)$ and $Walmart (WMT.US)$.
Ark: Focused on AMD and Amazon
Ark Invest, led by Cathie Wood, continues strategically investing in $Amazon (AMZN.US)$, focusing on the e-commerce giant's new low-cost online storefront initiative, "Haul." This platform, aimed at rivaling Chinese e-commerce services, has been a significant part of Ark Invest's trading activity in Amazon.com Inc. following its recent launch. Reports indicate that Amazon began discussions with China-based sellers earlier this year to explore a similar offering.
Additionally, Ark Invest has made substantial investments in other companies in Q3, including $Tempus AI (TEM.US)$, AMD, $Natera (NTRA.US)$, and $10x Genomics (TXG.US)$. As for its largest holdings, Ark's portfolio prominently features Tesla, $Roku Inc (ROKU.US)$, $Coinbase (COIN.US)$, $Roblox (RBLX.US)$, and $Block (SQ.US)$.
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