Q2 2025 Big Money Moves: What the Smart Money is Buying (and Selling)

Quick Recap

Every quarter, big investors like hedge fund managers and large institutions share their portfolio moves through 13F filings.
These reports give us a sneak peek at where the “smart money” is putting their cash.

For Q2 2025, some of the biggest names on Wall Street made bold plays in healthcare, AI, mega-cap tech, and even EVs.
Here’s the breakdown:

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Bill Ackman – Pershing Square

• Bought Amazon ($AMZN) – now ~9.3% of his portfolio.
• Increased Google ($GOOGL) by over 20%.
• Top holdings now:
  • Uber ($UBER) – 20.6%
  • Brookfield ($BN) – 18.5%
  • Restaurant Brands ($QSR) – 11.1%
  • Amazon ($AMZN) – 9.3%
  • Howard Hughes ($HHH) – 9.3%

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Michael Burry – Scion Asset Management

• Went on a call buying spree (bullish bets) in:
  • UnitedHealth ($UNH)
  • Regeneron ($REGN)
  • Lululemon ($LULU)
  • Meta ($META)
  • Estee Lauder ($EL)
  • JD.com ($JD)
  • Alibaba ($BABA)
• Also bought 20,000 shares of UNH at ~$311.

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Warren Buffett – Berkshire Hathaway

• Bought 5+ million shares of UNH, joining Burry in healthcare.
• Other buys:
  • Pool Corp ($POOL) (+136%)
  • Lennar ($LEN.B) (+18.6%)
  • Constellation Brands ($STZ) (+11.6%)
  • HEICO ($HEI.A) (+11.4%)
  • Chevron ($CVX) (+2.9%)
  • Domino’s ($DPZ) (+0.5%)
• Trimmed Bank of America ($BAC), Apple ($AAPL), and sold T-Mobile ($TMUS).

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David Tepper – Appaloosa Management

• Big moves into healthcare and AI chips:
  • Increased UNH by over 1,300% (now ~12% of portfolio)
  • Added big to Nvidia ($NVDA), TSMC ($TSM), and Intel ($INTC)
  • Bought Raytheon ($RTX) and a large new stake in Apple ($AAPL)
• Tweaked Big Tech exposure:
  • Cut some Nvidia, Amazon, Microsoft
  • Added more Alphabet and Meta
• No Tesla position

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JPMorgan Asset Management

• Opened a large new Tesla ($TSLA) position this quarter.
• Shows renewed institutional interest in EV stocks.

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Other Big Players

• Bridgewater – Doubled Nvidia, boosted Alphabet, Microsoft, and AI-related names.
• Tiger Global – Added 4M shares of Amazon, plus more Alphabet, Nvidia, Microsoft, and Meta.
• Discovery Capital – Doubled Meta, bought CoreWeave (Nvidia-backed), and raised UNH stake.
• Coatue Management – Bought Arm Holdings, Oracle, and more CoreWeave.
• Lone Pine Capital – Added a $528M UNH position.
• Viking Global & Polen Capital – Both increased Tesla stakes, with Viking adding over 200%.

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Key Takeaways

• Healthcare is hot: UNH is a favorite of Buffett, Burry, Tepper, and more.
• Big Tech focus is back, especially AI plays like Nvidia, TSMC, and CoreWeave.
• Tesla is attracting fresh institutional money from JPMorgan, Viking, and Polen.
• Funds are trimming winners and doubling down on high-conviction ideas.

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💡 Bottom line: The biggest investors are leaning into healthcare, AI, and select consumer brands, while showing new interest in EVs. For new traders and investors, this is a great watchlist starting point — not to copy blindly, but to see where long-term money is flowing.