Bill Ackman's Pershing Square swung into several high-profile names. Recent purchases include Amazon (AMZN), Alphabet (GOOGL), Hilton Worldwide (HLT), Hertz (HTZ) and Brookfield Corporation (BN), while the fund pared its stake in Canadian Pacific (CP). The mix shows a blend of growth — doubling down on platform leaders — and a play for travel and real assets as consumers keep spending on lodging and mobility. Brookfield points to a tilt toward alternative assets or yield. Selling CP could be profit-taking or a rotation away from railroads. Ackman's moves reflect active rebalancing as macro signals shift and value opportunities emerge.
Bill Ackman's Bold Rotation: Tech + Travel Picks
Bill Ackman's Pershing Square swung into several high-profile names. Recent purchases include Amazon (AMZN), Alphabet (GOOGL), Hilton Worldwide (HLT), Hertz (HTZ) and Brookfield Corporation (BN), while the fund pared its stake in Canadian Pacific (CP). The mix shows a blend of growth , doubling down on platform leaders , and a play for travel and real assets as consumers keep spending on lodging and mobility. Brookfield points to a tilt toward alternative assets or yield. Selling CP could be profit-taking or a rotation away from railroads. Ackman's moves reflect active rebalancing as macro signals shift and value opportunities emerge.
Li Lu (Himalaya): PDD Purchase, Bank of America Trim
Li Lu’s Himalaya Capital made a targeted move by buying shares of PDD Holdings (PDD), a major Chinese e-commerce player known for value-oriented tactics and rapid user growth. The fund trimmed its position in Bank of America (BAC), a long-time value holding for many investors. This looks like a reallocation toward higher-growth China exposure while reducing U.S. banking risk , perhaps reflecting relative valuation or region-specific opportunity. Li Lu is famed for concentrated, research-driven bets; PDD's discount to peers and its unique rural adoption strategy could offer asymmetric upside. The trade reads as bottom-up conviction rather than macro timing.
Norbert Lou (Punch Card): Crocs, PayPal and China Exposure
Norbert Lou’s Punch Card Capital diversified into consumer and payments by adding Crocs (CROX), PayPal (PYPL) and PDD Holdings (PDD), while trimming Smith & Wesson Brands (SWBI). The mix leans into consumer recovery and digital payments rather than defensive or legacy manufacturing names. Crocs has durable brand momentum and margin recovery potential, PayPal remains central to online commerce despite mounting competition, and PDD bolsters exposure to China’s e-commerce expansion. Exiting SWBI signals a move away from slower-growth, controversial segments. Lou appears focused on secular winners with clearer growth trajectories and brand resilience.
Chuck Akre (Akre Capital): Airbnb, Copart and Brookfield Additions
Chuck Akre of Akre Capital added a mix of real assets, travel and specialty data/software names: Brookfield Corporation (BN), Airbnb (ABNB), CCC Intelligence Solutions (CCCS), Copart (CPRT) and FICO (FICO). He pared holdings in several long-time compounders such as American Tower (AMT), Mastercard (MA), Moody's (MCO), Roper (ROP) and CoStar Group. Akre’s moves look like a classic reweighting , rotating into recovery plays and asset-light platforms that can continue to compound earnings while locking gains in infrastructure and payments. Expect Akre to maintain long holding periods, betting on companies with durable competitive advantages.
Warren Buffett (Berkshire): Energy, Health and Housing Picks
Warren Buffett's Berkshire Hathaway added an eclectic batch of names, increasing stakes in Chevron (CVX), Constellation Brands (STZ), UnitedHealth (UNH), Domino's (DPZ), Pool Corporation (POOL), Nucor (NUE) and Lennar (LEN). At the same time Berkshire trimmed or sold Apple (AAPL), Bank of America (BAC) and DaVita (DVA). The purchases point to a mix of energy, consumer packaged goods, healthcare and cyclical construction/materials , sectors that can deliver steady cash flow or benefit from economic recovery. Buffett’s moves read as value-driven redeployment: rotating from saturated large-cap tech and banks into companies with clearer earnings visibility or cyclical upside.
Pat Dorsey (Dorsey Asset): ASML, Alphabet and Industrial Quality
Pat Dorsey’s Dorsey Asset Management refreshed its portfolio by buying high-quality industrial, tech and travel names: Danaher (DHR), AerCap Holdings (AER), Alphabet (GOOGL), ASML (ASML), Booking Holdings (BKNG), Enovis (ENOV) and Semrush (SEMR). He trimmed exposure to more volatile consumer-internet and niche platforms, selling PayPal (PYPL), Sprout Social (SPT), Wix (WIX), Meta (META) and AutoZone (AZO). The purchases emphasize durable franchises and capital-efficient industrials , ASML and Danaher provide semiconductor and scientific exposure , while paring social and commerce plays. It’s a tilt toward quality, resilient growth and supply-chain-backed secular winners.
Seth Klarman (Baupost): Value Picks Across Financials and Retail
Seth Klarman’s Baupost Group added a broad mix: Alphabet (GOOGL), Wesco (WCC), CRH (CRH), Fidelity National Information Services (FIS), Dollar General (DG), Restaurant Brands (QSR), Elevance (ELV) and Fiserv (FI). He trimmed positions in Willis Towers Watson (WTW), Eagle Materials (EXP), Viasat (VSAT) and GDS. The purchases combine steady cash generators, consumer staples and financial-technology exposure , a classic Klarman value approach seeking mispriced, durable businesses across sectors. Adding DG and QSR points to franchise resilience in the consumer space, while FIS and Fiserv underline a thematic bet on payments infrastructure and long-term cash flow.
Chris Hohn (TCI): Tilting Toward Data and Payments
Chris Hohn’s TCI Fund Management added large-cap tech, payments and financial data leaders: Microsoft (MSFT), Visa (V), Moody’s (MCO), S&P Global (SPGI) and Ferrovial (FER). He trimmed industrial and rail exposure including GE, Canadian Pacific (CP) and Canadian National (CNI), and reduced Alphabet (GOOG). The buys favor durable franchises with recurring revenue and strong cash flow , payment networks and ratings/data firms that can compound margins. Selling rails and heavy industry may be profit-taking or a macro-driven rotation. Overall, Hohn appears to concentrate capital in higher-return, information-rich businesses with pricing power.
David Tepper (Appaloosa): Chips, Tech and a Bank Bet
David Tepper’s Appaloosa LP made aggressive moves into semiconductors and tech while trimming a swath of mega-cap names. Additions include UnitedHealth (UNH), Amazon (AMZN), Nvidia (NVDA), TSMC (TSM), Intel (INTC), Deutsche Bank (DB) and Micron (MU). Tepper pared or sold stakes in Alibaba (BABA), Vistra (VST), NRG (NRG), Meta (META), Alphabet (GOOGL), Microsoft (MSFT) and Uber (UBER). The buys show conviction in AI and chip supply chain leaders plus selective financial exposure via Deutsche Bank , a mix of growth and value. The sell-offs look like profit-taking after big tech rallies, freeing capital for cyclicals and hardware plays.