Report summarizes quarterly investment activity of five 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 1Q25, 4 out of 5 hedge funds outperformed S&P 500 (the S&P 500 index declined 4.6% over the 1Q25, while on average selected funds gained 2.5%).
• Compared to the S&P 500, the funds are overweight in Consumer Discretionary, Energy, and Real Estate, while underweight in Technology, Healthcare, Finance, and Industrials.
