Hedge funds just revealed their Q4 portfolios. The world’s largest investors are making the same bet.
Fourteen of the world’s biggest hedge funds dropped their Q4 portfolio disclosures this week and the moves were… not subtle. SoftBank sold every share of Nvidia (NASDAQ:NVDA) it owned. Buffett cut 77% of his Amazon (NASDAQ:AMZN) stake. Druckenmiller dumped 30+ positions in a single quarter.
We’ll get into all of it.
THE RUNDOWN
13F FILINGS › It was one of the most active 13F cycles in recent memory. SoftBank exited its entire $6B Nvidia position and rotated into crypto (including $781M in a Bitcoin treasury company). Buffett slashed Amazon by 77% and opened a $352M New York Times stake nobody saw coming. Ackman opened $1.76B in Meta while Druckenmiller, Lone Pine, and Bridgewater were all selling it. Druckenmiller purged 30+ holdings and loaded up on financials (NYSE:XLF), Brazil (NYSE:EWZ), and equal-weight S&P (RSP). Tepper exited six regional banks in one shot. Full 13F breakdown on Rallies.
FED › Minutes from the January meeting showed a more divided central bank than expected. Several officials floated possible rate hikes if inflation stays sticky. Markets still price 93% odds of a hold in March, and two to three cuts remain the base case for 2026. But the tone was noticeably hawkish.
COMMODITIES › Gold crossed $5,000/oz for the first time, up 2.2%. Bridgewater was apparently ahead of this: their Q4 filing showed they added 496% to Newmont (NYSE:NEM) , 306% to Barrick (NYSE:B), and 1,973% to Harmony Gold (NYSE:HMY). Oil jumped 4.6% to $65 after Vance said Iran hasn’t addressed U.S. concerns.
THE PLAY: How the Biggest Investors Are Positioning to Win in 2026
The 13F filings this week told a pretty clear story, even if the individual moves seem contradictory. The biggest investors in the world are getting out of the trades that worked last year.
Druckenmiller dumped Meta, Bank of America, GE Vernova, and 20+ other names. Lone Pine sold its entire $971M Meta position. Bridgewater cut Meta by 52% and Uber by 70%. SoftBank liquidated every share of Nvidia. Even Buffett trimmed Apple (NASDAQ:AAPL) and gutted Amazon.
So where did the money go?
Value and cyclicals. Druckenmiller’s new positions look like a bet on economic breadth: financials (NYSE:XLF), equal-weight S&P (NYSE:RSP), airlines (NYSE:DAL) (NASDAQ:UAL), and emerging markets (NYSE:EWZ), (NYSE:YPF). Tepper tripled Micron (NASDAQ:MU) and added American Airlines (NASDAQ:AAL). These aren’t AI plays. They’re bets that the economy is broader than five stocks.
Hard assets. Bridgewater loaded gold miners. Gold just crossed $5,000. Oil is back above $65. With the Fed now openly discussing rate hikes if inflation doesn’t cool, the inflation hedge trade is getting real capital behind it again.
Contrarian conviction picks. Buffett bought the New York Times (NYSE:NYT) at $352M. Ackman went all-in on Meta ($1.76B) while three other major funds walked away. Nvidia itself bought $7.93B of Intel, which is the kind of move that makes you read the number twice. These are high-conviction, against-the-crowd positions.
None of this means you need to copy their exact trades. 13F filings are backward-looking, and some of these positions may already be different. But the direction matters: the biggest funds in the world are diversifying away from mega-cap tech concentration.
If your portfolio still looks like it did in 2025, that’s worth thinking about.
Thanks for reading! Catch you in the next one!
For more updates throughout the week, follow @WOLF_Financial on X.
Benzinga Disclaimer: This article is from an unpaid external contributor. It does not represent Benzinga’s reporting and has not been edited for content or accuracy.
Recent Comments