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Q3 13F Roundup: How Buffett, Einhorn, Ackman And Others Adjusted Their Portfolios

The latest round of 13F filings from institutional investors is out, revealing to the world the stocks that some of the richest and most successful investors have been buying and selling.

· 11/17/2020 12:00

The latest round of 13F filings from institutional investors is out, revealing to the world the stocks that some of the richest and most successful investors have been buying and selling.

Takeaways From 13F Season: Investors who follow particular fund managers can easily look up what each was buying and selling in the quarter, but other investors may be more interested in overall themes from 13F filings. The third quarter of 2020 was an overall solid quarter for the S&P 500, and investors were likely interested in what top managers were buying and selling heading into the holiday shopping season.

Fund managers were dumping FANG stocks in the first quarter with a handful of exceptions. For example, Cooperman bought Alphabet.

PG&E was one stock several fund managers were playing in the quarter. Tepper and Klarman were buying while Soros was selling.

Buffett was aggressively buying health care stocks ahead of Joe Biden’s election victory.

Bank stocks were popular among fund managers in the quarter, with most managers selling rather than buying. Cooperman sold JPMorgan, Buffett sold JPMorgan and Wells Fargo and bought Bank of America, and Soros sold Bank of America, Citigroup, JPMorgan and Wells Fargo.

Several fund managers traded ETFs to play particular themes. Eingorn sold the GDX gold miners ETF and bought the GLD gold ETF. Soros made a big bet on tech stocks by buying the QQQ ETF and dumping the IGSB corporate bond fund.

Here’s a rundown of how the smart money was playing some of the most popular stocks last quarter.

Related Link: Why It's Unlikely Warren Buffett Is Actually Investing In Snowflake

David Einhorn’s Greenlight Capital
Notable Q3 Buys/Increases:

  • SPDR Gold Trust (NYSE:GLD)
  • SYNNEX Corporation (NYSE:SNX)
  • NCR Corporation (NYSE:NCR)
  • Twitter Inc (NYSE:TWTR)
  • Intel Corporation (NASDAQ:INTC)
  • Ingredion Inc (NYSE:INGR)
  • Dillard's, Inc. (NYSE:DDS)

Notable Q3 Sells/Reductions:

  • VanEck Vectors Gold Miners Etf (NYSE:GDX)
  • AerCap Holdings N.V. (NYSE:AER)
  • Chemours Co (NYSE:CC)
  • Tempur Sealy International Inc (NYSE:TPX)
  • Whirlpool Corporation (NYSE:WHR)

David Tepper’s Appaloosa Management
Notable Q3 Buys/Increases:

  • PG&E Corporation (NYSE:PCG)
  • Micron Technology, Inc. (NASDAQ:MU)

Notable Q3 Sells/Reductions:

  • Alibaba Group Holding Ltd - ADR (NYSE:BABA)
  • Amazon.com, Inc. (NASDAQ:AMZN)
  • Facebook, Inc. (NASDAQ:FB)
  • Alphabet, Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL)
  • AT&T Inc. (NYSE:T)
  • Netflix Inc (NASDAQ:NFLX)
  • Tesla Inc (NASDAQ:TSLA)
  • Twitter Inc (NYSE:TWTR)

Leon Cooperman’s Omega Advisors
Notable Q3 Buys/Increases:

  • Athene Holding Ltd (NYSE:ATH)
  • Vertiv Holdings Co (NYSE:VRT)
  • Motorola Solutions Inc (NYSE:MSI)
  • Navient Corp (NASDAQ:NAVI)
  • Alphabet, Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL)

Notable Q3 Sells/Reductions:

  • JPMorgan Chase & Co. (NYSE:JPM)
  • Centene Corp (NYSE:CNC)
  • Cigna Corp (NYSE:CI)
  • Gray Television, Inc. (NYSE:GTN)

Barry Rosenstein’s Jana Partners
Notable Q3 Buys/Increases:

  • SPDR S&P 500 ETF Trust (NYSE:SPY)

Notable Q3 Sells/Reductions:

  • Axalta Coating Systems Ltd (NYSE:AXTA)
  • Callaway Golf Co (NYSE:ELY)
  • Bloomin' Brands Inc (NASDAQ:BLMN)
  • HD Supply Holdings Inc (NYSE:HDS)

Jeff Smith’s Starboard Value
Notable Q3 Buys/Increases:

  • Corteva Inc (NYSE:CTVA)
  • ACI Worldwide Inc (NASDAQ:ACIW)
  • SPDR S&P 500 ETF Trust (NYSE:SPY)

Notable Q3 Sells/Reductions:

  • NortonLifeLock Inc (NASDAQ:NLOK)
  • Advance Auto Parts, Inc. (NYSE:AAP)

Warren Buffett’s Berkshire Hathaway
Notable Q3 Buys/Increases:

  • AbbVie Inc (NYSE:ABBV)
  • Merck & Co., Inc. (NYSE:MRK)
  • Bristol-Myers Squibb Co (NYSE:BMY)
  • Snowflake Inc (NYSE:SNOW)
  • T-Mobile Us Inc (NYSE:TMUS)
  • Pfizer Inc. (NYSE:PFE)
  • Bank of America Corp (NYSE:BAC)
  • General Motors Company (NYSE:GM)
  • Kroger Co (NYSE:KR)

Notable Q3 Sells/Reductions:

  • Apple Inc (NASDAQ:AAPL)
  • Davita Inc (NYSE:DVA)
  • Wells Fargo & Co (NYSE:WFC)
  • JPMorgan Chase & Co. (NYSE:JPM)

George Soros’ Soros Fund Management
Notable Q3 Buys/Increases:

  • Invesco QQQ Trust Series 1 (NASDAQ:QQQ)
  • Palantir Technologies Inc (NYSE:PLTR)
  • Walt Disney Co (NYSE:DIS)
  • D. R. Horton Inc (NYSE:DHI)

Notable Q3 Sells/Reductions:

  • iShares 1-5 Year Investment Grade Corporate Bd ETF (NASDAQ:IGSB)
  • T-Mobile Us Inc (NYSE:TMUS)
  • PG&E Corporation (NYSE:PCG)
  • Alphabet, Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL)
  • Wells Fargo & Co (NYSE:WFC)
  • JPMorgan Chase & Co. (NYSE:JPM)
  • Citigroup Inc (NYSE:C)
  • Bank of America Corp (NYSE:BAC)

Carl Icahn’s Icahn Capital
Notable Q3 Buys/Increases:

  • Icahn Enterprises LP Common Stock (NASDAQ:IEP)
  • Xerox Holdings Corp (NYSE:XRX)

Notable Q3 Sells/Reductions:

  • Herbalife Nutrition Ltd (NYSE:HLF)
  • Cheniere Energy, Inc. (NYSE:LNG)

Bill Ackman’s Pershing Square Capital
Notable Q3 Buys/Increases:
(none)
Notable Q3 Sells/Reductions:

  • Lowe’s Companies Inc (NYSE:LOW)
  • Agilent Technologies Inc (NYSE:A)
  • Hilton Hotels Corporation (NYSE:HLT)

Seth Klarman’s Baupost Group
Notable Q3 Buys/Increases:

  • Pershing Square Tontine Holdings (NYSE:PSTH)
  • Micron Technology, Inc. (NASDAQ:MU)
  • PG&E Corporation (NYSE:PCG)
  • Liberty Sirius XM Group (NASDAQ:LSXMK)

Notable Q3 Sells/Reductions:

  • Akebia Therapeutics Inc (NASDAQ:AKBA)
  • eBay Inc (NASDAQ:EBAY)
  • Alphabet, Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL)
  • Facebook, Inc. (NASDAQ:FB)
  • Fox Corp (NASDAQ:FOX) (NASDAQ:FOXA)