Summary
The latest 13F filings show major shifts among top-performing hedge funds. Michael Burry liquidated his entire portfolio except for Estée Lauder, while Warren Buffett’s Berkshire reduced bank holdings and doubled down on Constellation Brands. Meanwhile, firms like Viking, Coatue, and Whale Rock made aggressive AI and tech bets heading into the rest of 2025.
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📚 Deep Dive 📚
What the smartest money on Wall Street just did.
Each quarter, hedge funds managing over $100 million are required to disclose their holdings via a 13F filing. The Q1 2025 updates reveal massive shifts in positioning — from tech and AI bets to complete liquidations. Here’s a breakdown of the top-performing hedge funds and their biggest plays.
Warren Buffett – Berkshire Hathaway
Berkshire trimmed exposure to banking, fully exiting Citigroup C and reducing Bank of America BAC by 48.6 million shares. On the flip side, Buffett doubled down on Constellation Brands and added new positions in Domino’s, Occidental Petroleum, Sirius XM, and VeriSign. Apple AAPL remains king in the portfolio — unchanged and dominant.
Michael Burry – Scion Asset Management
Michael Burry went full reset. Scion liquidated its entire portfolio in Q1 2025 — with one exception: Estée Lauder EL . Burry now holds 100,000 shares of EL, making it 100% of his reported long exposure. He also reportedly placed put options against Nvidia and several Chinese tech giants, signaling a bearish outlook on AI and China.
Ole Andreas Halvorsen - Viking Global Investors
Viking made a big bet on Boeing BA with a $526M stake and added major financials like JPM , BAC , and Schwab. A $137M stake in General Motors rounded out their top buys — a clear pivot into value and industrials.
David Tepper - Appaloosa Management
Tepper upped his stake in Uber UBER to 3.2 million shares while initiating new positions in Deutsche Bank, Broadcom, and L3Harris Technologies. Notably, he exited AMD and INTC , pulling back from chip exposure.
Daniel Loeb - Third Point
Third Point dumped its entire positions in Tesla TSLA and Meta META . New buys include Kenvue KVUE, AT&T T , and Nvidia NVDA — indicating a shift toward diversified defensives and selective AI.
Bill Ackman - Pershing Square
Ackman went heavy on Uber UBER , adding a 30.3M share position. Meanwhile, he exited Nike NKE completely. The move signals confidence in rideshare and urban recovery trends.
Carl Icahn - Icahn Enterprises
Icahn nearly doubled down on JetBlue JBLU , now holding 33.6M shares, and scaled back his position in Southwest Gas (SWX). Activist plays in transportation remain a theme.
Jeffrey Smith - Starboard Value
Starboard cut its Pfizer PFE stake in half to 7.7M shares after a failed activist push. No major new buys were disclosed, signaling a conservative stance moving forward.
Philippe Laffont - Coatue Management
Coatue loaded up on Meta META , Alibaba BABA , Spotify SPOT , and Lam Research LRCX . It exited Vertiv (VRT) and trimmed Adobe ADBE and Reddit RDDT — taking profits on recent AI names while holding core tech.
Takeaway:
The Q1 2025 13F filings show a mix of bold rotations, bearish hedges, and AI-focused bets. Whether it's Burry's all-in on Estée Lauder (and dump everything else), Buffett's bank trim, or Coatue’s Spotify stack, one theme is clear: smart money is positioning for a volatile, opportunity-filled year ahead. Stay frosty out there!
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