What superinvestors bought in Q1 2026
TL;DR
The Q1 2026 13F-HR filings (all filed by 2026-05-15) are out, and read across 13 tracked superinvestors one theme dominates: the AI trade, expressed four different ways. Tiger Global bought the chips, Lone Pine bought the power, TCI sold Microsoft to concentrate elsewhere, and Ackman bought Microsoft. Around that sit the value investors still adding (Buffett, Klarman, Li Lu), the most concentrated bet we track (Pabrai's three-stock coal book), and a notable net seller (Fundsmith). Below is the synthesis, with each fund's full breakdown one click away. Every move is reconstructable from EDGAR.
The AI trade, split four ways
No single quarter has shown the AI thesis fragment so cleanly. Four respected managers expressed it through completely different parts of the stack:
- The chips — Chase Coleman (Tiger Global) added Nvidia, lifted TSMC 49% and Applied Materials 85%, and held Lam Research — while halving Microsoft.
- The power + plumbing — Stephen Mandel (Lone Pine) went a layer deeper: Vistra and Talen Energy for datacenter power, plus ASML, Teradyne, Corning and MasTec for equipment and materials — while halving the TSMC foundry.
- Microsoft, out — Chris Hohn (TCI) gutted Microsoft from 17.1% to 2.6% to deepen GE Aerospace and Visa to 58% of the book.
- Microsoft, in — Bill Ackman did the opposite, opening Microsoft at 15% while nearly exiting Alphabet.
The Microsoft split
Microsoft is the most-disagreed-upon stock of the quarter. Hohn gutted it; Coleman halved it; Andreas Halvorsen (Viking) and Terry Smith (Fundsmith) trimmed it; and Ackman bought it new at 15%. Five respected managers, the same mega-cap, and no consensus whatsoever — a reminder that a 13F shows conviction, not agreement.
The value investors — still adding
- Warren Buffett ran Berkshire's most active quarter in years — a Delta re-entry, an Alphabet add, and Visa / Mastercard / UnitedHealth / Aon exits.
- Seth Klarman (Baupost) made Amazon his top holding (+47%) and opened new Aon, Visa and Teleflex positions.
- Li Lu (Himalaya) cut his 15-year Bank of America anchor 71% — though Alphabet (~45% combined) keeps the book firmly concentrated.
- David Tepper (Appaloosa) rotated China into US tech, taking Amazon to #1.
The concentrated + contrarian bets
Mohnish Pabrai runs the most concentrated 13F we track — a three-stock US book that is 68% metallurgical coal (Warrior Met Coal + Alpha Metallurgical), with Transocean trimmed and Valaris exited. At the opposite end of risk appetite, Stanley Druckenmiller ran a diversification pivot with Natera at 18%.
Opposite sides of the same stocks
The clearest illustration that filings show conviction, not consensus: Lone Pine's Mandel bought Carpenter Technology (+38%) and opened a new MasTec position as part of his AI-infrastructure bet — while Lee Ainslie (Maverick) was dumping the exact same two names (Carpenter −61%, MasTec −65%) and rotating into new Meta and Alphabet stakes. Two strong managers, the same quarter, opposite calls.
The net seller
One manager stood apart by selling almost everything: Terry Smith's Fundsmith trimmed nearly every top US position at once — Marriott, Stryker, Waters, Visa, Alphabet, Pfizer and more — with no offsetting adds, a uniform pullback more consistent with fund-level selling than individual stock calls.
All 13 Q1 2026 deep dives
Most active quarter in years — Delta re-entry, Alphabet add, V/MA/UNH/AON exits.
Microsoft new at 15% of book, Alphabet near-exit — the most assertive entry in years.
Amazon to #1, China unwind, memory + semis adds.
Natera at 18%, YPF + Alcoa + STMicro adds — diversification pivot, AUM down 25%.
TCI guts Microsoft, deepens GE + Visa to 58% of the book.
Cuts the 15-year Bank of America anchor 71% (28.6%→4.6%) — opens Moody's, MSCI, Tencent Music, H&R Block.
Piles into AI hardware (Nvidia, TSMC +49%, Applied Materials +85%) and halves Microsoft (−54% to 4.1%); trims software + fintech. Alphabet stays #1.
Pushes Visa to #1 (+59%), builds quality industrials (Danaher, Fortive, Thermo Fisher +110%, Air Products new); trims Microsoft + Alphabet. New Apple.
Bets on AI's infrastructure — Vistra + Talen (power), ASML + new Teradyne/Corning/MasTec (equipment + materials) — while halving TSMC.
Makes Amazon the top holding (+47%, 12.7%), adds Alphabet + Ferguson, opens new Aon / Visa / Teleflex. A value legend leaning into quality.
A three-stock US book — 68% metallurgical coal (Warrior + Alpha), Transocean trimmed, Valaris exited. The most concentrated 13F we track.
The 'English Buffett' trims almost his entire US book — Marriott, Stryker, Visa, Alphabet, Pfizer all reduced. A uniform pullback.
Trims broadly (Carpenter −61%, MasTec −65%, Live Nation −73%) and opens new Meta + Alphabet + Hut 8. Rotation into mega-cap tech.
For the data behind the narrative — top consensus positions and every tracked manager's holdings — see the Q1 2026 quarterly recap. New to 13F filings? Start with what a 13F is and why it's 45 days late.
Our view
Cite this page
Researchers, journalists, and Wikipedia editors — citation formats load with the page. HoldLens content is freely available for reference; please cite.
Recommended reading
The six books that map the mental model behind every 13F on this site.
Amazon affiliate links — as an Amazon Associate, HoldLens earns from qualifying purchases at no extra cost to you. These are the books we actually recommend. Always do your own research.
Not investment advice. Synthesized from public SEC EDGAR Form 13F-HR filings across 13 tracked managers; each linked deep-dive cites its filer's CIK. 13F-HR data is a 45-day-lagged snapshot of long-only U.S.-listed positions — see 45-day lag explained and methodology.