Tracking Michael Burry’s Scion Asset Management Portfolio – Q1 2020 Update

  • Michael Burry’s 13F portfolio value increased from $82B to $86M this quarter. 
  • Scion Asset Management added Jack in the Box & Facebook while increasing Qorvo & Gamestop.  
  • The top three positions are Qorvo, Jack in the Box, and Gamestop and they add up to ~38% of the portfolio. 

Michael Burry’s 13F portfolio increased from $82M to $86M this quarter. The portfolio is heavily concentrated with recent 13F reports showing around 10 positions.

To know more about Dr. Michael Burry, check out the book The Big Short: Inside the Doomsday Machine by Michael Lewis

Below is a spreadsheet that shows the changes to Michael Burry's Scion Asset Management US long portfolio holdings as of Q1 2020. For a look at how the portfolio has progressed, see our previous update:

 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 




Tracking Leon Cooperman’s Omega Advisors Portfolio – Q1 2020 Update

  • Leon Cooperman’s 13F portfolio value decreased ~60% from $1.88B to $775M this quarter. 
  • Omega Advisors added Ferro Corp & JP Morgan Chase while dropping United Continental during the quarter. 
  • Fiserv, Cigna, and Alphabet are the largest three individual stock positions. 

Leon Cooperman’s 13F portfolio value decreased ~60% from $1.88B to $775M this quarter. Although the 13F report has ~70 positions, the portfolio is concentrated with the top five holdings accounting for over ~45% of the entire portfolio: Fiserv, Cigna, Alphabet, Trinity Industries, and Microsoft.

Note: In 2018, Leon Cooperman returned investor’s money as he moved to a Family Office Structure. The fund now manages his own money.

Below is a spreadsheet that shows the changes to Leon Cooperman's Omega Advisors 13F portfolio holdings as of Q1 2020. For a look at how the portfolio has progressed, see our previous update:


To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 




Tracking Thomas Gayner's Markel Portfolio – Q1 2020 Update

  • Gayner’s portfolio decreased from $7.20B to $5.32B during the quarter. 
  • Markel made only minor adjustments to the portfolio this quarter. 
  • Berkshire Hathaway at ~11% of the portfolio is by far the largest position. 

Thomas Gayner’s Markel Investment Portfolio value decreased ~25% from $7.20B to $5.32B during the quarter. The portfolio continues to have around 100 different positions although only around 50 are significantly large (more than 0.5% of the portfolio each). The top-five stakes are Berkshire Hathaway, CarMax Corporation, Brookfield Asset Management, Liberty Broadband, and Amazon.com.

Markel Corporation (MKL) is currently trading at around 1.3-times Book Value (BV) at ~$905 per share - BV is ~$705 as of Q1 2020.

Below is a spreadsheet that highlights the changes to the portfolio as of Q1 2020. Please check out our previous update to have an idea on how the portfolio is progressing:

  

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy.  





Tracking Charlie Munger's Daily Journal Portfolio – Q1 2020 Update

  • Charlie Munger’s Daily Journal Portfolio continues to have just four positions. 
  • The portfolio has been largely untouched since their first 13F filing for Q4 2013. 
  • The overall portfolio value decreased ~43% during the quarter. 

Charlie Munger’s Daily Journal portfolio value decreased ~43% this quarter from ~$175M to ~$100M. Since their first 13F filing in Q4 2013, there has only been one change to the holdings: POSCO was reduced significantly in Q4 2014. After accounting for this sale, the portfolio has remained remarkably steady over the last six years. To know more about Charlie Munger, check out the book Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger.

Regarding the origins of this portfolio in 2009, Charlie Munger said the following during Daily Journal’s (DJCO) 2018 AGM Q&A: “In addition to Daily Journal's businesses, we have a great bundle of securities and want to dispel again that this is not some minor version of Berkshire. We have a bundle, because we bought them at a time when we preferred to own them to holding cash and had a lot of extra liquidity on hand that came to us by accident. The chances of more gains like what we have done in the last four or five years is zero. Oh, well we will have a big gain next quarter, because of a deferred tax reduction from the Trump tax code change, so we will look like a genius for one more quarter, I suppose.” The cost-basis of the positions acquired at the time was $63.4M.

The spreadsheet below shows Charlie Munger's Daily Journal 13F stock holdings as of Q1 2020. Please visit our previous updates to get an idea on how the portfolio has progressed:

 

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .




Tracking Bill & Melinda Gates Foundation Portfolio – Q1 2020 Update

  • The huge ~$17B portfolio has just 20 positions. 
  • The largest stake, Berkshire Hathaway is at a whopping ~47% of the portfolio. 
  • This quarter saw a ~10% trimming in the Berkshire Hathaway stake. 

Gates Foundation portfolio value decreased ~20% this quarter from ~$21B to ~$17.35B this quarter. Over the years, the portfolio has become extremely concentrated. In their first 13F filing in 2002, they had about 27 positions and the total portfolio value was ~$1.8B. Currently, the portfolio is around ten times that while the number of positions has gone down to just 20. 

To know more about Gates and the Foundation, check-out the book Bill Gates: The Inspirational Life Story of Bill Gates; Businessman, Inventor, and the World's Most Remarkable Philanthropist.

The spreadsheet below shows Gates Foundation’s holdings as of Q1 2020. Please visit our previous updates to get an idea on how the portfolio has progressed:

 

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy.   




Tracking Michael Price’s MFP Portfolio – Q1 2020 Update

  • Michael Price’s 13F portfolio value decreased from $715M to $493M this quarter. 
  • MFP Investors added Taubman Centers and increased Popular Inc. during the quarter. 
  • The largest three individual stock positions are Intel Corporation S&W Seed Company, and Dolby Laboratories and they add up to ~35% of the portfolio. 

Michael Price’s 13F portfolio value decreased ~30% from $715M to $493M this quarter. The portfolio is diversified with recent 13F reports showing well over 100 individual stock positions. The top five stakes are Intel Corporation S&W Seed Company, Dolby Laboratories, AT&T, and Wabco Holdings. They add up to ~42% of the 13F portfolio.

Below is a spreadsheet that shows the changes to Michael Price's MFP Investors 13F portfolio holdings as of Q1 2020. For a look at how the portfolio has progressed, see our previous update:

 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 





Tracking Robert & Jeffrey Bruce’s Bruce Fund Portfolio – Q1 2020 Update

  • Robert & Jeffrey Bruce’s 13F portfolio value decreased from $513M to $434M this quarter. 
  • Bruce Fund increased Bausch Health during the quarter. 
  • The largest three individual stock positions are Nextera Energy, AMERCO, and CMS Energy and they add up to ~27% of the portfolio. 

Robert & Jeffrey Bruce’s 13F portfolio value decreased ~15% from $513M to $434M this quarter. Recent 13F reports have shown a total of around 50 positions. The largest five individual stock positions are Nextera Energy, AMERCO, CMS Energy, Allstate, and Xel Energy. They add up to ~39% of the 13F portfolio.

Below is a spreadsheet that shows the changes to Robert & Jeffrey Bruce's Bruce Fund Holdings US long portfolio holdings as of Q1 2020. For a look at how the portfolio has progressed, see our previous update:


To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 




Tracking Thyra Zerhusen’s Fairpointe Capital Portfolio – Q1 2020 Update

  • Thyra Zerhusen’s 13F portfolio value decreased roughly 50% from $1.30B to $668M this quarter. 
  • Fairpointe Capital added Hexcel Corp and Check Point Software during the quarter.  
  • The largest three positions are Juniper Networks, Molson Coors, and Teradata Corp. 

Thyra Zerhusen’s 13F portfolio value decreased ~50% from $1.30B to $668M this quarter. Recent 13F reports have shown a total of around 70 individual stock positions in the portfolio. The largest five stakes are Juniper Networks, Molson Coors, Teradata Corp, Corning, and Adtalem Global Education. They together add up to ~18% of the portfolio.

Below is a spreadsheet that highlights the changes to Thyra Zerhusen's Fairpointe Portfolio 13F stock portfolio as of Q1 2020. For a look at how the portfolio has progressed, see our previous update:

 

 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    




Tracking Guy Spier's Aquamarine Capital Portfolio – Q1 2020 Update

  • Aquamarine Capital’s 13F portfolio value decreased from $217M to $147M. 
  • The portfolio value decreased roughly one-third during the quarter. 
  • Berkshire Hathaway and Ferrari N V are the largest two positions. 

Guy Spier’s Aquamarine Capital Portfolio value decreased one-third from $217M to $147M during the quarter. The portfolio is very concentrated with just 10 positions. The largest five positions are Berkshire Hathaway (BRK.A), Ferrari NV (RACE), American Express (AXP), Bank of America (BAC), and Mastercard Inc. (MA). They together add up to ~79% of the entire portfolio.

Most of the top positions have remained steady in recent quarters. Below is a spreadsheet that highlights the changes to the portfolio as of Q1 2020. Please check out our previous update to have an idea on how the portfolio is progressing:

 

To learn more about how to profit from a strategy of cloning hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy.    

 





Tracking Stanley Druckenmiller's Duquesne Family Office Portfolio – Q1 2020 Update

  • Stanley Druckenmiller’s 13F portfolio value decreased from $3.41B to $2.47B this quarter. 
  • Duquesne increased Amazon.com, Facebook, and Alibaba Group Holdings during the quarter. 
  • Duquesne Family Office portfolio has 45 positions with the top three accounting for around ~36% of the portfolio. 

Stanley Druckenmiller’s portfolio value decreased ~28% from $3.41B to $2.47B this quarter. The pattern of very high turnover QoQ continued - many positions were dropped and new ones added. The nimble trading is typical of the trend-following style. To know more about Druckenmiller's trading style check out Trend Following: Learn to Make Millions in Up or Down Markets.

Below is a spreadsheet that highlights the changes to Stanley Druckenmiller's Duquesne Family Office 13F stock portfolio as of Q1 2020. For a look at how his portfolio has progressed, see our previous update:

 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    





Tracking John Armitage’s Egerton Capital Portfolio – Q1 2020 Update

  • John Armitage’s 13F portfolio value decreased ~30% from $13.96B to $9.64B this quarter. 
  • Egerton Capital added Amazon.com and Linde plc while dropping Thermo Fisher Scientific & Transdigm Group during the quarter. 
  • Charter Communications, Amazon.com, and Canadian Pacific are the largest three positions in the portfolio. 

John Arimitage’s 13F portfolio value decreased ~30% from $13.96B to $9.64B this quarter. The portfolio is very concentrated with recent 13Fs listing around 30 positions. The largest five individual stock positions are Charter Communications, Amazon.com, Canadian Pacific, Microsoft Corp, and Fiserv Inc. They add up to ~38% of the entire portfolio.

Below is a spreadsheet that highlights the changes to John Armitage's Egerton Capital 13F stock portfolio as of Q1 2020. For a look at how the portfolio has progressed, see our previous update:

 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    





Tracking Philippe Laffont’s Coatue Management Portfolio – Q1 2020 Update

  • Philippe Laffont’s 13F portfolio value decreased ~37% from $12.57B to $7.90B this quarter. 
  • Coatue Management added JD.com and Tesla during the quarrter. 
  • The largest three positions are Netflix, Liberty Broadband, and Amazon.com and they add up to ~22% of the portfolio. 

Philippe Laffont’s 13F portfolio value decreased ~37% from $12.57B to $7.90B this quarter. Recent 13F reports have shown a total of around 45 individual stock positions in the portfolio. The largest five stakes are Netflix, Liberty Broadband, Amazon.com, Alibaba Group Holdings, and Facebook Inc. They add up to around one-third of the entire portfolio.

Philippe Laffont is one of the most successful among the "tiger cubs". To know more about Julian Robertson and his legendary Tiger Management, check out Julian Robertson: A Tiger in the Land of Bulls and Bears.

Below is a spreadsheet that shows the changes to Philippe Laffont's Coatue Management 13F long portfolio holdings as of Q1 2020. For a look at how the portfolio has progressed, see our previous update

 

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 




Tracking Baker Brothers Portfolio – Q1 2020 Update

  • Baker Brothers’ 13F portfolio value decreased from $18.81B to $16.24B this quarter. 
  • Madrigal Pharma stake was increased while decreasing Exact Sciences during the quarter. 
  • The top-three positions are Seattle Genetics, Incyte Corporation, and Acadia Pharma and they add up to almost ~61% of the portfolio.

This article is part of a series that provides an ongoing analysis of the changes made to Baker Brothers’ 13F portfolio on a quarterly basis. It is based on Baker Brothers’ regulatory 13F Form filed on 05/15/2020.

This quarter, Baker Brothers’ 13F portfolio value decreased ~14% from $18.81B to ~$16.24B. The top three holdings are at ~61% while the top five holdings are at ~75% of the 13F assets: Seattle Genetics (SGEN), Incyte Corporation (INCY), Acadia Pharma (ACAD), BeiGene (BGNE), and Alexion Pharmaceuticals (ALXN).

The spreadsheet below highlights changes to Baker Brothers’ 13F holdings in Q1 2020. For a look at how the portfolio has progressed, please see our previous update:


To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy



Tracking Jeff Smith’s Starboard Value Portfolio – Q1 2020 Update

  • Jeff Smith’s 13F portfolio value decreased from ~$3.45B to ~$2.47B this quarter. 
  • Starboard Value added Commvault Systems, Merit Med Systems, and Greed Dot during the quarter. 
  • The largest three individual stock positions are NortonLifeLock, Advance Auto Parts, and eBay Inc. They add up to ~40% of the portfolio. 

Jeff Smith’s 13F portfolio value decreased ~29% from ~$3.45B to ~$2.47B this quarter. The portfolio is very concentrated with recent 13F reports showing around fifteen stakes. The top five positions are NortonLifeLock (NLOK), Advance Auto Parts (AAP), eBay Inc. (EBAY), Cerner Corporation (CERN), and Commvault Systems (CVLT). They add up to ~56% of the portfolio.

 

Below is a spreadsheet that shows the changes to Jeff Smith's Starboard Value 13F portfolio holdings as of Q1 2020. For a look at how the portfolio has progressed, see our previous update:


To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

 




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