Nike Is In, Tech Stocks Are Out. What These Big Investors Are Buying and Selling.
3 min
Hedge funds and other big investment fund managers shifted out of the Magnificent Seven tech stocks in the second quarter and took on new stakes in a variety of stocks in the healthcare and consumer sectors.
For example, activist investor Nelson Peltz didn’t exit his stake in Walt Disney entirely, but it was substantially lower compared with the first quarter after he lost his proxy battle at the entertainment company.
Instead, Peltz’s Trian Fund Management took on new stakes in Solventum , the healthcare company spun off from 3M in April, and U-Haul, the storage and moving company, according to a regulatory filing on Wednesday.
Paul Singer’s Elliott Investment Management reported a new 6 million-share stake in Southwest Airlines as of June 30. The fund this week started a proxy battle at the carrier, with plans to nominate a slate of directors to largely replace the board.
And Pershing Square Capital’s Bill Ackman, who recently withdrew a planned initial public offering of a $2 billion closed-end fund, reported new stakes in apparel maker Nike and investment management firm Brookfield Corp.
The regulatory filings reflect investment manager holdings as of the end of June, and portfolios may have shifted since then.
Trian Fund Management
Peltz’s Trian Fund Management reported 2.65 million shares of Disney as of June 30, down from 32 million in March. It reported a new 5.36 million share stake in Solventum and a nearly 1.3 million-share stake in U-Haul in two different share classes.
Trian reported no stake in food services company Sysco , compared with 1.2 million shares in March.
Elliott Investment Management
Paul Singer’s Elliott Investment Management snapped up nearly 8 million shares of the dating platform Match, doubled its stake in craft marketplace Etsy to 4.5 million shares, and bought about 500,000 more shares of communications firm Liberty Broadband to bring its total to just under 2.2 million.
Soros Capital
Soros Capital, the family office for billionaire George Soros, made a cryptocurrency play in the second quarter, taking on new stakes in Bitcoin mining-related companies.
Soros reported a new 2.3 million-share position in Bitcoin mining firm Terawulf and a new 1.5 million-share stake in Core Scientific, another Bitcoin miner. It took a new 1.3 million share stake in Iris Energy , a Bitcoin miner that operates data centers using renewable energy.
Soros took a smaller new 32,000 share stake in Portillo’s, a fast casual restaurant chain that specializes in Chicago-style hot dogs and the Italian beef sandwiches popularized in the Hulu series The Bear.
On the flip side, Soros cut or eliminated stakes in most of the Magnificent Seven stocks. It reported no holdings of Nvidia , Advanced Micro Devices , and Microsoft and smaller holdings in Amazon , Meta Platforms , and Netflix compared with the first quarter. It also reported no holdings of Ozempic and Wegovy maker Novo Nordisk as of June 30, compared with a 77,000-share stake in March.
Pershing Group
Bill Ackman’s Pershing Square Capital snapped up a new 7 million-share stake in Brookfield Corp.and 3 million shares of Nike. Pershing reported smaller holdings of Chipotle Mexican Grill , Alphabet , and Hilton Worldwide compared with its first quarter filing. It reported $10.4 billion of assets.
Baupost
Seth Klarman’s Baupost Group reduced its holdings of Alphabet by more than 60%, leaving it with just under 3 million shares. It also shed some 2 million shares of fintech firm Fidelity National Information Services and more than 3 million shares of Liberty Media ’s SiriusXM Group.
Baupost’s biggest new stake reported among its $3.6 billion in holdings was 420,000 shares of healthcare company Humana . It also picked up 1 million shares of Capri Holdings , the fashion group that owns Versace, Jimmy Choo and Michael Kors, and 1.8 million shares of healthcare company Solventum.
Starboard
Activist investment firm Starboard Value, which is run by Jeff Smith and reported $4.3 billion in assets, nearly halved its shares of healthcare company Humana to 507,000 from 906,000 in the prior quarter.
It also slashed its holdings in GoDaddy by nearly 2 million to 4.6 million. Its biggest purchase was 2.7 million shares of clinical research firm Fortrea to a total of 8 million shares.
Third Point
Dan Loeb’s Third Point disclosed several new stakes in the second quarter, including 1.95 million shares of Apple and 2.8 million shares in communications firm Amphenol . Third Point maintained its 5.1 million-share stake in Amazon.
Greenlight Capital
With $2 billion under management, David Einhorn’s Greenlight Capital reported a new stake in Peloton of 6.8 million shares. It also upped its shares of pharmaceutical firm Viatris by 2.9 million shares to 7.4 million and doubled down its stake in HP Inc to 3.37 million shares.
It also reported new investments in fashion firm Capri Holdings and media conglomerate IAC of 700,000 and 300,000 shares, respectively.
It reported no position in clean energy firm Net Power, compared with 2 million shares in March. It also reported no holdings in Johnson & Johnson spinoff Kenvue , which sells Aveeno, Band-Air, Tylenol, and other consumer health brands. It held 710,000 Kenvue shares in March.
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Ophora Tallawong has launched its final release of quality apartments priced under $700,000.
From bushland greens to valley reds, the country’s most awarded designers are proving that the best colour palette was never on a swatch card; it was outside the window all along.
2 min
Held by the same family for 26 years, this Harbour Bridge-facing residence at Longueville is the type of property that rarely comes to market. Set on more than 1,100 sqm on one of Sydney’s most tightly held peninsulas, it combines complete privacy with uninterrupted views across the harbour to the city skyline.
It’s the sort of offering where the land is just as important as the home. Positioned directly opposite Aquatic Park with a prized northeast aspect, the residence captures sweeping harbour views from almost every main living space while remaining remarkably secluded from neighbouring properties.
Large picture windows frame the outlook throughout the home, flooding the interiors with natural light and making the harbour the centrepiece of everyday living.
Designed for family living
The home offers multiple living zones, including a formal lounge and dining rooms, a separate family room and an open-plan living and meals area. Blackbutt timber parquetry flooring, high ceilings and ducted reverse-cycle air conditioning feature throughout.
The kitchen sits at the heart of the home, with induction cooking, a generous island bench, and a walk-in pantry, connecting both the formal entertaining areas and the more casual family spaces.
A ground-floor master suite includes a walk-in robe, dressing area and ensuite, while upstairs are three additional bedrooms with built-in robes, together with a spacious home office or study.
The lower ground level adds another layer, with a temperature-controlled cellar and tasting room, plus a flexible gym, wellness or recreation space.
Resort-style setting overlooking Sydney Harbour
Outside, landscaped gardens wrap around a heated swimming pool, an expansive entertaining terrace, and a level lawn, creating a private resort-style setting against the backdrop of Sydney Harbour.
Additional features include a solar system with battery storage, remote lock-up garaging for three vehicles and generous storage throughout.
Beyond the home itself, the location remains one of Longueville’s biggest drawcards. Longueville Ferry Wharf sits around 150 metres away, providing direct access to the CBD while preserving the quiet character of one of Sydney’s most tightly held waterfront suburbs. The property is also within the catchments of Lane Cove Public School and Hunters Hill High School.
Simon Harrison and Kim Walters of Belle Property Lane Cove are marketing the property on a Contact Agent basis.
At a glance
Address: 3 Mary Street, Longueville NSW 2066
Configuration: 4 bedrooms | 3 bathrooms | 3-car garage
Land: Approximately 1,100 sqm
Highlights: Harbour Bridge and city skyline views, northeast aspect, heated pool, cellar, solar with battery storage
Held: First time offered in 26 years
Price: Contact Agent
Agents: Simon Harrison and Kim Walters, Belle Property Lane Cove
This article is produced by the Kanebridge Media editorial team. Property information has been supplied by the listing agent. Buyers should conduct their own due diligence before relying on any information contained in this article. Enquiries: propertyconcierge@kanebridge.com.au.
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