Warren Buffett takes a piece of Domino’s. Ken Griffin, David Tepper and Steve Cohen sell Amazon shares. Here’s what SEC filings reveal about the latest moves by the world’s richest and most successful investors.

By John Dobosz, Forbes Contributor

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Oin the last 30 months, The reported moves of billionaire investors played an important role in the strategies we used to build both of ours Forbes billionaire investor Model portfolios, but they were not the only factor. We also looked for stocks that had compelling value appeal with low debt and strong business fundamentals, meaning stocks trading at low valuations that still generated growing revenue and profits. Except Walt Disney (DIS), which generated extraordinary interest among activist billionaire investors, we required our shares to pay dividends. We also wanted to see evidence of recent insider buying among company managers and directors.

The strategy has brought great success. When we started Forbes billionaire investor In September 2022, we bought future large-cap home runs like retail success stories Dick’s Sporting Goods (DKS +118%) and Ross Stores (ROST +90%) and “Magnificent Seven” member Microsoft (MSFT +84%). Among small and mid caps we had F&G Pensions & Life (FG +176%), lighting specialist Acuity brands (AYI +99%), midstream oil and gas MLP Antero Midstream (AM +97%) and mortgage insurers Radian group (RDN +96%).

Monitoring the movements of billionaire investors

Since 1934, the U.S. Securities and Exchange Commission has required investment managers who have assets worth at least $100 million to report their holdings quarterly on Form 13F. These publicly available documents provide retail investors with detailed insight into the portfolio movements of hedge funds, private equity and other investment funds, but the information arrives with significant delays. Investment managers are not required to report their purchases and sales until 45 days after the end of the financial quarter in which they were made.

Particularly for algorithmic and trading-oriented managers, quants like Citadel’s Ken Griffin, Susquehanna International Group’s Jeffrey Yass, and Millennium Management’s Israel Englander, if you bought every stock that superstar investors report in their 13F filings, you could buy a lot of stocks Stocks they have already sold. The holding period tends to be longer for value billionaires like Berkshire Hathaway’s Warren Buffett and Apaloosa Management’s David Tepper, who seek long-term holdings, and for activist investors like Carl Icahn, who tend to hold a stock long enough for management to shake up teams and corporate boards.

Despite the delays built into reporting requirements, 13F filings provide retail investors with the opportunity to identify areas where investment managers agree and help you identify rising or falling ownership trends of particular managers. Movements into or out of specific sectors and industry groups become clear, as do instances of investment conviction in individual stocks. For example, Buffett’s Berkshire Hathaway just announced the purchase of a $600 million stake in Domino’s Pizza (DPZ).

Buffett grabbing a piece of the domino pie is one of 25 interesting insights that emerge from looking at the five biggest purchases and five biggest sales of the five richest self-made billionaire investors Forbes. With a personal fortune of over $150 billion, Buffett is by far the richest and nearly three times as much as his closest rival, Susquehanna founder Jeffrey Yass, who is worth nearly $50 billion.

Below are the largest purchases and sales in U.S. dollars by the world’s richest investment managers.

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Warren Buffett

Estimated Net Worth: $150.2 billion | Berkshire Hathaway

🟢 PURCHASES

Sirius XM Holdings (SIRI)

Domino’s Pizza (DPZ)

Occidental Petroleum (OXY)

(CB)

Heico (HEI)

🔴 SOLD

Apple (AAPL)

Bank of America (BAC)

Snowflake (SNOW)

Chevron (CVX)

Capital One Financial (COF)

From our perspective, it was extremely encouraging to see Berkshire take a $225 million stake in the large-cap aerospace and defense supplier in October Heico (HEI) based in Hollywood, Florida. Buffett joins eight other billionaires in Heico, the largest holding of billionaire Florida optician and inventor Herbert Wertheim, who owns 7.5% of Heico’s outstanding shares. Buffett continues to reduce his holdings in Apple and Bank of America, although both stocks still represent Berkshire Hathaway’s first and third largest holdings, accounting for 23% and 12% of the investment portfolio, respectively.

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Jeffrey Yass

Estimated Net Worth: $49.6 billion | Susquehanna International Group

🟢 PURCHASES

Nvidia (NVDA)

JP Morgan Chase (JPM)

Bristol Myers Squibb (BMY)

Comfort Systems USA (FIX)

Walmart (WMT)

🔴 SOLD

SPDR S&P 500 Trust (SPY)

Invesco QQQ Trust (QQQ)

Kenvue (KVUE)

Apple (AAPL)

Emcor Group (EME)

Pennsylvania billionaire Jeffey Yass“Susquehanna International Group said it sold 69% of its Apple holdings in the past six months and still held 210,000 shares. Susquehanna also expressed gloom about the overall market by selling the SPDR S&P 500 and Invesco QQQ Trust ETFs. Nonetheless, QQQ is still Susquehanna’s second-largest holding after Nvidia, of which the company holds 3.4 million shares, up from 2.4 million at the end of 2023.

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Ken Griffin

Estimated Net Worth: $47.0 billion | Citadel Advisor

🟢 PURCHASES

Atlassian (TEAM)

Charter communication (CHTR)

Medtronic (MDT)

Equinix (EQIX)

Marriott International (MAR)

🔴 SOLD

Bank of America (BAC)

Amazon.com (AMZN)

AppLovin (APP)

Talen Energy (TLN)

Microsoft (MSFT)

Thanks to his majority stake in the financial market company Citadel Securities, which is worth $22 billion, Ken Griffin would be a multi-billionaire even without his hedge fund Citadel Advisors, but it is only thanks to his successful fund that he owns the equally successful securities brokerage company business.Citadel has profits in the technology sector from Amazon and Microsoft as well as the mobile app company AppLovin. However, Citadel’s largest purchase was also in the technology sector, albeit from Australia: the collaboration software maker Atlassian (TEAM). It was also an enthusiastic buyer of medical implant maker Medtronic (MDT).

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Steven Cohen

Estimated Net Worth: $21.3 billion | Point72 Asset Management

🟢 PURCHASES

Comcast (CMCSA)

Taiwan Semiconductor (TSM)

Reddit (RDDT)

EQT (EQT)

ConocoPhillips (COP)

🔴 SOLD

Broadcom (AVGO)

Amazon.com (AMZN)

AT&T (T)

Fox (FOXA)

Royal Caribbean Group (RCL)

The biggest purchase New York Mets owner Steven Cohen is currently considering is whether to sign superstar free agent Juan Soto to a multi-hundred million dollar deal this offseason. Recently, Cohen’s hedge fund Point72 expressed both optimism and pessimism about broadcasting. It bought shares of NBC owner Comcast, whose shares recently surged after the company announced plans to sell its cable networks, while also selling shares of fellow broadcast and cable stock Fox. Broadcom and Amazon are two big names that Cohen has sold.

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David Tepper

Estimated Net Worth: $21.3 billion | Appaloosa Management

🟢 PURCHASES

PDD holdings (PDD)

Lyft (LYFT)

Vistra (VST)

JD.com (JD)

NRG Energy (NRG)

🔴 SOLD

Nvidia (NVDA)

Metaplatforms (META)

Microsoft (MSFT)

Oracle (ORCL)

Amazon.com (AMZN)

Like Cohen, David Tepper is a professional sports franchise owner with his controlling interest in the NFL’s Carolina Panthers. The value of this share has skyrocketed over the past two years, even as the team’s on-field performance has continued to disappoint. Tepper’s Appaloosa hedge fund has locked in profits from several “Magnificent Seven” stocks, notably Nvidia, Meta, Amazon and Microsoft. Despite President-elect Trump’s anti-China rhetoric, the value investor’s biggest purchase comes from Shanghai: PDD Holdings, which owns the online marketplace Temu. Another new China purchase from Tepper is JD.com.

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John Dobosz is editor of Forbes billionaire investor newsletter. Click here to follow John on LinkedIn.

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