13F Q2 – HF New Positions & Trends (Aug 15)
HC in focus – UNH multi-HF buy: BRK +5.04M, Lone Pine, Eminence, Scopia, Burry, Hound. Other inflows: REGN, TMO, IQV, MASI → defensive growth, aging pop theme. Px 271.49 (+12.7% pre on BRK stake/Amedisys deal), still -50% YTD.
Tech inflows – NVDA (SRS +2.7M), MSFT, META, GOOG, WIX, AMD, PDD (Himalaya +4.61M) → AI/cloud + select growth. Px NVDA 182.02, AMD 180.95.
Travel/leisure bid – TRIP (Starboard +8.5M, activist), BKNG (Lone Pine), DIS (Viking +5.85M), DKS, MTN → “experience economy” rotation. Px TRIP 18.03, BKNG 5,484.77.
Notable fund activity
- Third Point: RKT, FLS, COOP, SABR, DOCU, DHR, WDAY, GTLS, FIX (mix infra, SaaS, finserv).
- Starboard: TRIP, IWM.
- Lone Pine: UNH, BN, WIX, BKNG.
- Berkshire: UNH, LEN, NUE, DHI, LAMR, ALLE (HC + housing + cyclicals).
Themes:
- HC overweight – defensive, cash-flow rich.
- AI/semi momentum – NVDA, AMD, mega-cap cloud.
- Experiential travel – TRIP, BKNG, DIS.
- Housing rebound call – LEN/DHI via BRK buys.
Trade ideas: Long UNH (HF crowding, rebound potential), TRIP (activist catalyst), NVDA/AMD (AI pair), BKNG calls into travel season, LEN/DHI macro-rate play.