Report summarizes quarterly investment activity of 5 select hedge funds (Berkshire Hathaway, Scion Asset Management, Appaloosa, Yacktman Asset Management, and Pershing Square Capital Management).
These funds were selected based on their performance in recent years as well as their style of investing. The chosen hedge funds tend to invest in a traditional way: their portfolios are relatively concentrated and they mostly follow a buy-and-hold investment strategy. Because these funds trade infrequently, their portfolio data can be useful for investors despite being reported with delay.
 

Summary:

  • In 1Q24, 3 out of 5 hedge funds underperformed S&P 500. (the average return of selected funds was 9.8% compared to 10.2% of S&P 500 index)
  • Compared to S&P 500, the select funds remain overweight in Consumer Discretionary and Energy, while being underweight in Healthcare and largely in line with benchmark weights in remaining sectors.
  • Internet, Software, Oil & Gas, Banks, and Semiconductors remain the most popular industry groups within these funds.