Overview

Abrams Capital

David Abrams Q3 2025   Total: $6.2B
LAD
Lithia Motors, Inc. - Class A 787.0M 12.8%
ABG
Asbury Automotive Group Inc 526.9M 8.5%
GOOGL
Alphabet Inc - Class A 516.4M 8.4%

Akre Capital Management

Chuck Akre Q3 2025   Total: $10.0B
MA
Mastercard Incorporated - Class A 1.8B 17.9%
KKR
KKR & Co. Inc. 1.1B 11.3%
V
Visa Inc - Class A 1.0B 10.1%

AltaRock Partners

Mark Massey Q3 2025   Total: $5.5B
AMZN
Amazon.com Inc. 1.7B 30.3%
MSFT
Microsoft Corporation 1.3B 24.3%
TDG
Transdigm Group Incorporated 1.3B 23.5%

Appaloosa Management

David Tepper Q3 2025   Total: $7.4B
BABA
Alibaba Group Holding Ltd - ADR 1.2B 15.6%
AMZN
Amazon.com Inc. 548.9M 7.4%
WHR
Whirlpool Corp. 432.3M 5.9%

Aquamarine Capital

Guy Spier Q3 2025   Total: $317.4K
BRK.B
Berkshire Hathaway Inc. - Class B 70.7K 22.3%
AXP
American Express Co. 69.8K 22.0%
BAC
Bank Of America Corp. 39.6K 12.5%

Aspex Management

LI Ho Kei Q3 2025   Total: $4.7M
SE
Sea Ltd - ADR 767.0K 16.2%
SNPS
Synopsys, Inc. 748.8K 15.9%
FUTU
Futu Holdings Ltd - ADR 426.4K 9.0%

Baillie Gifford

Andrew Driver Q3 2025   Total: $135.0B
NVDA
NVIDIA Corp 8.7B 6.4%
MELI
MercadoLibre Inc 7.8B 5.7%
SE
Sea Ltd - ADR 7.2B 5.3%
New

Berkshire Hathaway

Warren Buffett Q3 2025   Total: $267.3B
AAPL
Apple Inc 60.7B 22.7%
AXP
American Express Co. 50.4B 18.8%
BAC
Bank Of America Corp. 29.3B 11.0%
New

Bill & Melinda Gates Foundation

Bill Gates Q3 2025   Total: $36.6B
BRK.B
Berkshire Hathaway Inc. - Class B 10.9B 29.9%
WM
Waste Management, Inc. 6.4B 17.5%
CNI
Canadian National Railway Co. 4.9B 13.4%
New

Brave Warrior Advisors

Glenn Greenberg Q3 2025   Total: $4.3B
ANTM
Anthem Inc 592.6M 13.8%
SNX
TD Synnex Corp 536.3M 12.5%
OMF
OneMain Holdings Inc 440.1M 10.2%

Cantillon Capital Management

William Von Mueffling Q3 2025   Total: $18.2B
AVGO
Broadcom Inc 1.6B 8.5%
GOOGL
Alphabet Inc - Class A 1.0B 5.6%
IBKR
Interactive Brokers Group Inc - Class A 871.4M 4.8%
New

Chou Associates

Francis Chou Q3 2025   Total: $207.7M
BRK.A
Berkshire Hathaway Inc. - Class A 64.9M 31.2%
GOOG
Alphabet Inc - Class C 20.1M 9.7%
SIRI
Sirius XM Holdings Inc 16.3M 7.9%

Conifer Management

Greg Alexander Q3 2025   Total: $631.1M
GPI
Group 1 Automotive, Inc. 248.7M 39.4%
EQH
Equitable Holdings Inc 213.3M 33.8%
LAD
Lithia Motors, Inc. - Class A 126.4M 20.0%

Dalal Street

Mohnish Pabrai Q3 2025   Total: $336.9M
HCC
Warrior Met Coal Inc 114.5M 34.0%
AMR
Alpha Metallurgical Resources Inc 87.3M 25.9%
RIG
Transocean Ltd 76.3M 22.6%
New

Dorsey Asset Management

Pat Dorsey Q3 2025   Total: $1.1B
DHR
Danaher Corp. 170.7M 15.3%
ASML
ASML Holding NV - New York Shares 167.7M 15.1%
AER
Aercap Holdings N.V. 152.9M 13.7%
New

First Manhattan Co.

Robert Gottesman Q3 2025   Total: $37.9B
BRK.A
Berkshire Hathaway Inc. - Class A 11.1B 29.2%
MSFT
Microsoft Corporation 2.3B 6.0%
AAPL
Apple Inc 1.3B 3.5%
New

Fundsmith LLP

Terry Smith Q3 2025   Total: $19.8B
SYK
Stryker Corp. 1.7B 8.6%
IDXX
Idexx Laboratories, Inc. 1.7B 8.4%
GOOGL
Alphabet Inc - Class A 1.5B 7.7%
New

Greenlea Lane Capital

Josh Tarasoff Q3 2025   Total: $343.0M
AMZN
Amazon.com Inc. 70.7M 20.6%
BRK.A
Berkshire Hathaway Inc. - Class A 50.5M 14.7%
MKL
Markel Corp 42.9M 12.5%

Greenwoods Asset Management

George JIANG Q3 2025   Total: $4.4B
FB
Meta Platforms Inc - Class A 900.3M 20.3%
NTES
NetEase Inc - ADR 488.2M 11.0%
NVDA
NVIDIA Corp 443.8M 10.0%
New

H&H International Investment

Duan Yongping Q3 2025   Total: $14.7B
AAPL
Apple Inc 8.9B 60.4%
BRK.B
Berkshire Hathaway Inc. - Class B 2.6B 17.8%
PDD
Pinduoduo Inc - ADR 1.1B 7.7%

Himalaya Capital

Li Lu Q3 2025   Total: $3.2B
GOOGL
Alphabet Inc - Class A 618.3M 19.1%
PDD
Pinduoduo Inc - ADR 609.0M 18.9%
GOOG
Alphabet Inc - Class C 597.0M 18.5%

Lindsell Train Ltd

Michael Lindsell Q3 2025   Total: $4.1B
GOOGL
Alphabet Inc - Class A 543.1M 13.3%
DIS
Walt Disney Co (The) 426.6M 10.5%
INTU
Intuit Inc 417.8M 10.2%
New

Lone Pine Capital

Stephen Mandel Q3 2025   Total: $13.7B
FB
Meta Platforms Inc - Class A 971.0M 7.1%
VST
Vistra Corp 920.7M 6.7%
TSM
Taiwan Semiconductor Manufacturing - ADR 852.5M 6.2%
New

Makaira Partners

Thomas Bancroft III Q3 2025   Total: $194.7M
CHTR
Charter Communications Inc. - Class A 45.1M 23.2%
BBWI
Bath & Body Works Inc 35.3M 18.1%
LAMR
Lamar Advertising Co - Class A 20.8M 10.7%

Markel Corp

Thomas Gayner Q3 2025   Total: $12.3B
BRK.A
Berkshire Hathaway Inc. - Class A 840.2M 6.8%
BRK.B
Berkshire Hathaway Inc. - Class B 770.2M 6.3%
GOOG
Alphabet Inc - Class C 669.7M 5.4%
New

Pershing Square

Bill Ackman Q3 2025   Total: $14.6B
UBER
Uber Technologies Inc 3.0B 20.3%
HHH
ETF Managers Trust - ETFMG Real Estate Tech ETF 1.5B 10.6%
GOOG
Alphabet Inc - Class C 1.5B 10.5%
New

Punch Card Management

Norbert Lou Q3 2025   Total: $322.4M
BRK.A
Berkshire Hathaway Inc. - Class A 109.4M 33.9%
SGOV
iShares Trust - iShares 0-3 Month Treasury Bond ETF 57.0M 17.7%
PDD
Pinduoduo Inc - ADR 54.9M 17.0%

RV Capital GmbH

Robert Vinall Q3 2025   Total: $546.2M
CVNA
Carvana Co. - Class A 168.0M 30.8%
FB
Meta Platforms Inc - Class A 102.6M 18.8%
CACC
Credit Acceptance Corp. 60.9M 11.1%

Scion Asset Management

Michael Burry Q3 2025   Total: $1.4B
PLTR
Palantir Technologies Inc - Class A
PUT
912.1M 66.0%
NVDA
NVIDIA Corp
PUT
186.6M 13.5%
PFE
Pfizer Inc.
CALL
152.9M 11.1%

Sequoia Fund

Ruane Cunniff Goldfarb Q3 2025   Total: $6.0B
SCHW
Charles Schwab Corp. 602.9M 10.0%
FWONK
Liberty Media Corp. (Tracking Stock -Liberty Formula 1) Series C 581.7M 9.6%
GOOGL
Alphabet Inc - Class A 572.9M 9.5%

ShawSpring Partners

Dennis Hong Q3 2025   Total: $672.6M
FOUR
Shift4 Payments Inc - Class A 96.9M 14.4%
OKTA
Okta Inc - Class A 90.8M 13.5%
PCOR
Procore Technologies Inc 78.6M 11.7%
New

TCI Fund Management

Chris Hohn Q3 2025   Total: $52.7B
GE
General Electric Co. 14.3B 27.1%
V
Visa Inc - Class A 9.6B 18.2%
MSFT
Microsoft Corporation 8.6B 16.3%
New

Third Point

Daniel Loeb Q3 2025   Total: $9.0B
PCG
PG&E Corp. 755.5M 8.4%
AMZN
Amazon.com Inc. 617.0M 6.9%
SPY
SSgA Active Trust - S&P 500 ETF TRUST ETF
PUT
582.9M 6.5%
New

Tiger Global Management

Chase Coleman III Q3 2025   Total: $32.4B
MSFT
Microsoft Corporation 3.4B 10.5%
SE
Sea Ltd - ADR 2.9B 8.9%
GOOGL
Alphabet Inc - Class A 2.6B 8.0%
New

Trian Fund Management

Nelson Peltz Q3 2025   Total: $4.1B
JHG
Janus Henderson Group plc 1.4B 34.5%
GE
General Electric Co. 1.2B 29.5%
IVZ
Invesco Ltd 335.6M 8.2%
New

Valley Forge Capital

Dev Kantesaria Q3 2025   Total: $4.2B
FICO
Fair, Isaac Corp. 1.1B 27.7%
SPGI
S&P Global Inc 854.2M 20.5%
MA
Mastercard Incorporated - Class A 844.6M 20.3%
New

ValueAct Holdings

Jeff Ubben Q3 2025   Total: $5.9B
AMZN
Amazon.com Inc. 768.6M 13.0%
CRM
Salesforce.Com Inc 686.9M 11.6%
RBLX
Roblox Corporation - Class A 593.3M 10.0%
New

Viking Global Investors

Ole Andreas Halvorsen Q3 2025   Total: $38.5B
PNC
PNC Financial Services Group 1.6B 4.2%
JPM
JPMorgan Chase & Co. 1.6B 4.1%
SCHW
Charles Schwab Corp. 1.6B 4.1%
New

Wedgewood Partners

David Rolfe Q3 2025   Total: $547.9M
TSM
Taiwan Semiconductor Manufacturing - ADR 52.9M 9.6%
FB
Meta Platforms Inc - Class A 51.8M 9.5%
GOOGL
Alphabet Inc - Class A 50.4M 9.2%

Weitz Investment Management

Wallace Weitz Q3 2025   Total: $1.8B
BRK.B
Berkshire Hathaway Inc. - Class B 144.2M 7.8%
GOOG
Alphabet Inc - Class C 107.3M 5.8%
DHR
Danaher Corp. 104.5M 5.7%

Yacktman Asset Management

Stephen Yacktman Q3 2025   Total: $7.3B
CNQ
Canadian Natural Resources Ltd. 668.2M 9.2%
MSFT
Microsoft Corporation 532.5M 7.3%
SCHW
Charles Schwab Corp. 400.5M 5.5%