Q1 13F Tracking: Top Institutions Continued to Lean into Tech Darlings

Warren Buffett's $Berkshire Hathaway-A(BRK.A.US)$, $Berkshire Hathaway-B(BRK.B.US)$ opened a new position in $Chubb Ltd(CB.US)$, a 13F filing revealed late Wednesday, showing it to be the "mystery stock" purchase that has intrigued investors since late last year. The conglomerate bought nearly 26 million shares of Chubb worth $6.7 billion, Chubb stock jumped more than 8% in late Wednesday trade.

In addition, although Berkshire slashed a massive position in $Apple(AAPL.US)$ by 13% during the first quarter, Apple remains one of Berkshire's biggest stock holdings. Among other Q1 moves, the company sold roughly 55.8 million shares of $Paramount Global-B(PARA.US)$ , reduced its position in $Chevron(CVX.US)$ but added to $Occidental Petroleum(OXY.US)$.

Asset management company Bridgewater Associates increased its $NVIDIA(NVDA.US)$position to 704,599 shares worth $636.6 million at the end of the first quarter. That compared with the 268,489 shares the fund owned in the chipmaker at the end of 2023, per the firm’s 13F.

Bridgewater’ other major bets in the first quarter were mostly in the tech space, the most notable shift was in $Alphabet-A(GOOGL.US)$ . Bridgewater bought almost 3.3 million Class A shares of Google's parent company during the first quarter, bringing its position to 5.37 million shares by the end of that period.

The fund also added about 1.84 million shares of $Apple(AAPL.US)$, almost 328,000 shares of $Meta Platforms(META.US)$ , and 381,000 shares of $Microsoft(MSFT.US)$ in the first three months of 2024.

The first quarter wasn't exclusively a buying spree for Bridgewater, as the firm also trimmed many of its existing positions and exited several others. Among the largest sell-offs in the first quarter were about 1.8 million shares of $Cisco(CSCO.US)$ , roughly 1.7 million shares of $Coca-Cola(KO.US)$ , and 892,158 shares of $PDD Holdings(PDD.US)$.

As of the first quarter of 2024, Tiger Global Management included 41 stocks. The top holdings were 19.81% in $Meta Platforms(META.US)$ , 12.29% in $Microsoft(MSFT.US)$ , 8.5% in $Alphabet-A(GOOGL.US)$ , 7.55% in $Apollo Global Management(APO.US)$ , and 6.23% in $Amazon(AMZN.US)$ .

Besides, Tiger Global has completely exited its position in $PDD Holdings(PDD.US)$ , with all 625,300 shares sold, resulting in a -0.65% impact on the portfolio. The largest reduction was in $JD.com(JD.US)$ , with 5,665,172 shares sold off.

As of the first quarter of 2024, Catherine Wood's portfolio encompasses 229 stocks. The top holdings include 8.22% in $Coinbase(COIN.US)$ , 6.3% in $Tesla(TSLA.US)$ , 5.96% in $Block(SQ.US)$ , 5.31% in $Roku Inc(ROKU.US)$ , and 5.03% in $UiPath(PATH.US)$. The investments are primarily concentrated across nine industries, including Technology, Healthcare, Communication Services, Financial Services, Consumer Cyclical, Industrials, Energy, Consumer Defensive, and Basic Materials.

ARK’s most notable position reductions include Coinbase, with a reduction of 4,178,670 shares, leading to a 48.59% decrease in shares, and $Twilio(TWLO.US)$ , with a reduction of 6,187,545 shares, resulting in an 86.78% decrease in shares.