Quarterly Insights

Cross-fund analysis of latest 13F filings (Q1 2026 vs Q4 2025) across ~50 concentrated fundamental managers — Buffett, Munger, Akre, Pabrai, Pershing, Tepper, Atreides, Daily Journal, Greenoaks, Fairholme, Tiger Cubs, etc. Excludes multi-strat / quant / passive.

New Initiators — Q1 2026

Stocks where 2+ concentrated managers went 0 → position last quarter, each at ≥1.5% of their book. Cross-fund consensus on a new idea.

TickerIssuer# New BuyersAvg ConvictionCombined $Top Managers
SUNBSunbelt Rentals Holdings, Inc.45.5%$4.20BDorsey Asset Managemen… (11.4%), Gardner Russo & Quinn … (4.7%), AKO Capital LLP (4.1%) +1 more
NVDANVIDIA CORPORATION28.3%$2.04BSituational Awareness … (11.5%), Egerton Capital (UK) L… (5.2%)
ASMLASML HLDG NV23.0%$1.16BSituational Awareness … (3.7%), Coatue Management LLC (2.3%)
AMDADVANCED MICRO DEVICES INC24.4%$1.13BSituational Awareness … (7.2%), Maverick Capital Ltd (1.6%)
ORCLORACLE CORP26.3%$1.08BSituational Awareness … (7.8%), NIGHTVIEW CAPITAL, LLC (4.8%)
AVGOBroadcom Inc24.6%$1.07BSituational Awareness … (7.4%), Duquesne Family Office… (1.8%)
GOOGLALPHABET INC22.0%$757MThird Point LLC (2.4%), TCI Fund Management Lt… (1.6%)
LINLINDE PLC24.2%$741MEgerton Capital (UK) L… (5.9%), Maverick Capital Ltd (2.4%)
METAMETA PLATFORMS INC22.1%$659MThird Point LLC (2.5%), Viking Global Investor… (1.7%)
ICLRICON Plc25.3%$401MBrave Warrior Advisors… (8.2%), Sound Shore Management… (2.3%)
HUTHUT 8 CORP22.1%$326MLone Pine Capital LLC (2.3%), Third Point LLC (2.0%)
SYKSTRYKER CORPORATION22.1%$159MNZS Capital, LLC (2.5%), AKO Capital LLP (1.6%)
CRMSALESFORCE INC23.1%$157MNIGHTVIEW CAPITAL, LLC (3.6%), Akre Capital Managemen… (2.5%)
VSTVistra Corp.22.0%$151MSound Shore Management… (2.4%), Atreides Management, L… (1.6%)
SPGIS&P GLOBAL INC24.6%$146MDorsey Asset Managemen… (7.5%), Himalaya Capital Manag… (1.6%)
NOWSERVICENOW INC22.7%$119MNIGHTVIEW CAPITAL, LLC (3.6%), Akre Capital Managemen… (1.9%)

Exits — Q1 2026

Stocks where 2+ concentrated managers fully exited from prior ≥1.5% positions. Cross-fund consensus on stepping away.

TickerIssuer# ExitsAvg Conviction$ DroppedTop Managers
MSFTMICROSOFT CORP47.6%$5.61BBill & Melinda Gates F… (10.5%), Egerton Capital (UK) L… (9.2%), Third Point LLC (6.2%) +1 more
GOOGLALPHABET INC34.1%$1.17BRuane Cunniff & Goldfa… (7.3%), Duquesne Family Office… (2.7%), Altimeter Capital Mana… (2.4%)
GOOGALPHABET INC35.6%$938MRuane Cunniff & Goldfa… (7.1%), Dorsey Asset Managemen… (5.9%), NIGHTVIEW CAPITAL, LLC (3.8%)
BABAALIBABA GROUP HLDG LTD35.5%$525MNIGHTVIEW CAPITAL, LLC (12.6%), H&H International Inve… (2.1%), Third Point LLC (1.7%)
CRMSalesforce, Inc.33.2%$369MStarboard Value LP (4.7%), Sound Shore Management… (3.2%), MAR VISTA INVESTMENT P… (1.8%)
AMZNAMAZON COM INC25.8%$1.47BRuane Cunniff & Goldfa… (7.5%), Lone Pine Capital LLC (4.1%)
FLUTFLUTTER ENTMT PLC24.9%$870MMakaira Partners LLC (7.0%), Tiger Global Managemen… (2.9%)
VEEVVEEVA SYS INC21.9%$753MDurable Capital Partne… (2.0%), Tiger Global Managemen… (1.8%)
BSXBOSTON SCIENTIFIC CORP23.6%$607MEgerton Capital (UK) L… (5.6%), Perceptive Advisors LL… (1.7%)
COFCapital One Financial Corp24.1%$590MEgerton Capital (UK) L… (5.5%), Sound Shore Management… (2.8%)
FISFidelity National Information Services24.3%$391MBaupost Group LLC (5.7%), Sound Shore Management… (2.9%)
MELIMERCADOLIBRE INC22.3%$336MWhale Rock Capital Man… (2.5%), Altimeter Capital Mana… (2.1%)
WYNNWYNN RESORTS LTD23.0%$256MNIGHTVIEW CAPITAL, LLC (3.2%), Egerton Capital (UK) L… (2.7%)
INTUIntuit22.2%$173MAKO Capital LLP (2.4%), Torray LLC (2.0%)
ENTGEntegris Inc21.7%$85MHound Partners LLC (1.8%), Duquesne Family Office… (1.6%)

Hidden High-Conviction Bets

Positions where one concentrated manager has >15% of their entire book on a single stock. The crown-jewel bets where a fundamental manager is genuinely all-in. Often outside the consensus club.

TickerIssuerManager% of BookPosition# Other Holders
CVNACARVANA COCAS Investment Partners LLC81.7%$1.43B8
JOEST JOE COFairholme Capital Management LLC79.7%$1.21B0
BRK.ABERKSHIRE HATHAWAY INC DELPunch Card Capital LP72.6%$0M11
CVNACARVANA COGreenoaks Capital Partners LLC57.5%$1.32B8
IEPIcahn Enterprises LPICAHN CARL C48.5%$4.15B0
GPIGROUP 1 AUTOMOTIVE INCConifer Management LLC47.7%$250M0
WFCWells Fargo & CoDaily Journal Corp46.7%$112M13
JHGJanus Henderson Group plcTrian Fund Management, L.P.42.4%$1.64B0
JOBYJoby AviationCapricorn Investment Group LLC40.7%$245M0
BACBank of America CorpDaily Journal Corp40.5%$98M14
HCCWARRIOR MET COAL INCDalal Street, LLC39.9%$169M1
LOARLOAR HOLDINGS INCAbrams Capital Management, L.P.39.6%$1.84B0
AMZNAMAZON.COM INCAltaRock Partners LLC38.2%$1.58B36
AAPLAPPLE INCH&H International Investment, LLC36.7%$7.35B22
RIGTRANSOCEAN LTDDalal Street, LLC32.0%$135M1
CVNACARVANA CORV Capital GmbH31.1%$119M8
IBKRINTERACTIVE BROKERS GROUP INOakcliff Capital Partners LP30.5%$69M4
GEGE AEROSPACETCI Fund Management Ltd29.9%$13.48B8
EQHEQUITABLE HLDGS INCConifer Management LLC29.8%$156M2
GEGE AerospaceTrian Fund Management, L.P.29.6%$1.14B8
GRBKGREEN BRICK PARTNERS INCGreenlight Capital Inc28.9%$592M0
NVDANVIDIA CORPORATIONAltimeter Capital Management LLC28.6%$1.63B24
TSLATESLA INCNIGHTVIEW CAPITAL, LLC28.2%$37M7
AMRALPHA METALLURGICAL RESOUR IDalal Street, LLC28.1%$119M0
CVICVR Energy IncICAHN CARL C28.0%$2.40B0
WFCWELLS FARGO & CO NEWPunch Card Capital LP27.4%$0M13
VFCV F CORPEngaged Capital LLC26.2%$79M2
ORLAORLA MINING LTDFairfax Financial Holdings Ltd25.8%$502M1
BRK.BBERKSHIRE HATHAWAY INC DELBill & Melinda Gates Foundation Trust25.8%$8.17B21
TDGTRANSDIGM GROUP INCAltaRock Partners LLC25.5%$1.05B5
FICOFAIR ISAAC CORPValley Forge Capital Management LP24.3%$821M5
TFPMTRIPLE FLAG PRECIOUS METALElliott Investment Management LP23.0%$4.63B0
GOOGLALPHABET INCHimalaya Capital Management LLC22.9%$731M35
SPGIS&P GLOBAL INCValley Forge Capital Management LP22.1%$748M10
MAMASTERCARD INCORPORATEDValley Forge Capital Management LP22.0%$743M16
AAPLAPPLE INCBerkshire Hathaway Inc22.0%$57.84B22
GOOGALPHABET INCHimalaya Capital Management LLC22.0%$703M28
MSTR 0 12/01/29STRATEGY INCFirst Eagle Investment Management LLC21.9%$16590.00B1
BRK.BBERKSHIRE HATHAWAY INC DELH&H International Investment, LLC21.9%$4.38B21
METAMETA PLATFORMS INCRV Capital GmbH21.8%$83M27
Sub-account rows (e.g. Berkshire's 12 AAPL rows across BNSF/GEICO/etc) aggregated per (filing, ticker) before computing conviction. Threshold logic: New Initiators & Exits require ≥2 concentrated managers at ≥1.5% conviction; Single-Name Bets surface any concentrated manager with >15% of their book on one stock.