The “intelligent money” is getting rid of its bassist bets, but increasing the position of cash. What were the great Wall Street doing?
According to the latest analysis of the data received from the futures and options market, it is observed that the call “Smart money” (“Smart Money”, which includes institutional investors, insiders, active managers, etc.) His short (bassist) positions in the bags are being undone from his March maximums. Without a clutch, they are not turning to long (bullish) positions, but are going to liquidity.
In general, what is perceived is that they are reducing positions in both directions. But it is also observed that this decrease includes one of the most risky assets for which COT data (Commitments of Traders), the bitcoin. For experts, These movements reflect that before the level of current uncertainty the “intelligent money” prefers to stay out for nowand not position neither bullish nor bassist. It is worth asking, then, what the great players of the market were doing throughout the first quarter of the year.
For example, The movements of the veteran of the Hedge Fund, Dan Loeb, of Third Point show it to have been very active throughout the first quarter of 2025after having added seven new positions in shares to its coverage fund, each with a value of more than US $ 100 million, and got rid of a couple of important technological names. A new position for Loeb was AT&T, for approximately US $ 106 million (the action has exceeded expectations in 2025, with a 20%gain, not including its high dividend).
But one of the new most important positions for the Fund of Loeb is the Nvidia chips giant, with a participation of almost US $ 160 million. Analysts emphasize that this increased the exposure of Third Point to the semiconductor sector, since the fund maintains a semiconductor taiwan position for a value of almost US $ 300 million at the end of the first quarter.
It is worth remembering that in April Loeb said he had sold most of his participations in “Magnificent Seven.” According to the formal presentation before the Bag and Securities Commission (SEC) Third Point left his positions in Meta Platforms and Tesla during the first quarter, and reduced his participations in Amazon and Microsoft. However, It is not clear if the fund continued to sell those old positions or abandoned his new Nvidia actions after the end of the first quarter. It should be noted that all this was prior to the “Liberation Day” of President Trump, so it is possible that the positions of Third Point and other coverage funds have been significantly modified.
Anyway, Another notable incorporation for Third Point was Casey’s General Store, where the position of the fund in these retail shares was valued at US $130 million at the end of the quarter. New participations in Talen Energy and Costa Group also exceeded US $ 100 million, and other new additions during the quarter include Kenvue and Us Steel. Loeb founded the coverage fund in 1995 and has a long trajectory as an active investor. According to Jesse Pound of CNBC, the Bird Point’s flagship fund obtained a return of 24.2% in 2024, according to a letter to investors, exceeding the gain of 23.3% of the S&P 500.
What did other greats of Wall Street In the first quarter, according to the public information provided by the famous form 13F of the SEC, which analysts monitor to unravel the strategic thinking of the great US funds?
- For example, the legendary Warren Buffett (Berkshire Hathaway) drastically reduced its exposure to the banking sector with the total sale of its participations in Citigroup and Nu Holdings, and cut its position in Bank of America, although it remains its fourth largest position. For analysts, the so -called “Olaha Oracle” is not fleeing from the financial sector by whim, but is re -evaluating its portfolio to sectors where more defensive competitive advantages perceives. On the other hand, he bought actions from Domino’s Pizza, Constellation Brands, Pool Corp and Western Petroleum. The crown jewels remain Apple (25.76% of the total), American Express, Coca-Cola and Chevron, an alignment that resists the passage of time and macroeconomic turbulence.
- As for the mythical Ray Dalio (Bridgewater Associates), its strategy based on extreme diversification and protection against adverse scenarios, it was felt strongly in the first quarter: among the most notable operations is the partial sale of the ETF SPDR S&P 500, which despite the reduction continues as its main position. They also partially left Alphabet and Nvidia, two giants who had gained weight in previous quarters. As for purchases, the prominence was taken by Alibaba, which went from occupying an insignificant 0.10% to 3.47% of the portfolio, in a clear sign that he trusts in a selective recovery of the Chinese technology sector. In addition, an ETF was incorporated on gold, a reflection of the global uncertainty climate, and the Booking and Salesforce positions increased. The result is an eclectic portfolio where large quoted funds (ETF) such as the Ishares Core S&P 500 and the MSCI Emerging Markets coexist with tactical bets such as Alibaba or Alphabet Class A.
- The background Renaissance Technologiesbetter known as Rentech, of the remembered Jim Simons I continue with its legacy of strategies based on quantitative models that analyze data in real time and execute operations without human intervention (algorithms), hence their movements in addition to being numerous, are surgical and often surprising. What arises from public information is that, in the first quarter, there was an aggressive commitment to Broadcom and Alphabet, as well as a notable increase in the position in Robinhood, whose number of shares in portfolio grew 38%. Meta was also reinforced, while they reduced almost the full position in Apple and something also in Novo Nordisk. What continues to call attention is the maintenance of the position in Palantir that is the largest possession (2.08%) despite a sale of 28% of its titles. The portfolio is completed by less known names, but with strong quantitative momentum such as Verisign, Corcept Therapeutics and Sprouts, an organic supermarket chain where there were also small adjustments.
Apparently, although their strategies differ, these three giants of Wall Street They acted in line with a more volatile market and geopolitical context and disruptions. Thus Buffett took refuge in his classics, but with some selective licenses to new sectors, while Dalio is covered with gold and bets on the Asian rebound, and the people of Renaissance prioritizes the data In search of patterns invisible to the human eye and after all the most interesting is what their decisions about the market they anticipate.
As analysts explain, the information provided by the form 13f It reflects the thought of these great investors in addition to their purchases and sales, so for the retail investor the important thing is not to imitate the melody, but to understand the rhythm.
Source: Ambito
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