Q2/2024 Superinvestor Portfolio Update

Lets dive into those lovely 13F Filings

Intro

The SEC requires funds with at least $100m assets under management to publish their holdings 45 days after the end of the quarter. This is a great source for us to see what the truly great investors are holding.

The important thing is to check the portfolios of investors who are as like-minded as you are. For me, these investors and funds include (among others) Chuck Akre, AltaRock Partners, Terry Smith, Li Lu, Valley Forge, Polen Capital, and David Tepper. All of these investors tend to hold great companies for a long time and if they add to a completely new position then it is always worth taking a deeper look.

Some investors like Michael Burry have such a large turnover in their portfolios, that it may well be, that the investments you see in their most recent 13F filings are no longer part of their portfolio. Therefore the value of this information is very short-lived and may be outdated.

You will find a snapshot of the current portfolio of those fund managers who I follow closely below with my comments on the changes in their holdings. At the end of the article, you will find a summary of the changes and patterns which emerged.

Enjoy!

Chuck Akre - Akre Capital Management

Chuck Akre trimmed his top positions and sold his remaining Brookfield Asset Management, Uber (which he just bought in Q1/2024), and Dollar Tree. Brand new is Airbnb, which I personally also find very interesting.

AltaRock Partners

Charter Communications is almost completely out, while the positions in Microsoft and Moody’s have been increased. Fair Issac is brand new and just like the rest of the portfolio one of the very best companies there is.

Terry Smith - Fundsmith

Terry Smith has a broadly diversified portfolio and is not as concentrated as Valley Forge. Due to this, there are a lot of small changes. The biggest change is an 18% reduction in McCormick and a 26% increase in Fortinet. Fortinet is a great company and you can learn more about it here:

Fortinet Stock Analysis & Deep Dive

The top positions of the portfolio stay the same.

Valley Forge Capital Management

Valley Forge is as concentrated as they come. No significant change in the portfolio. You will have a hard time finding better companies.

Polen Capital Management

Quite a large portfolio and here are the top positions. They sold their Autodesk position and 45% of Netflix. Other noteworthy changes were a reduction in their largest holding Amazon and additions to Shopify and MSCI.

Bill Ackman - Pershing Square Capital Management

Bill Ackman reduced his massive Chipotle position and also sold some of Alphabet. He sold Lowe’s completely.

David Tepper - Appaloosa Management

After loading up heavily on Alibaba in Q1, David Tepper reduced his China exposure in Q2. He also sold 84% of his Nvidia position and made Lyft a 1.7% position in his portfolio.

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