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StocksFrom 13F filings · 18 managers · Q2 2026

High-Conviction Stocks: What Top Funds Are Pressing and Cutting

The stocks well-known managers hold as big positions and keep buying, the ones they bought aggressively last quarter, and the big positions they cut. Under each price chart, one strip per fund shows its shares at every quarter-end: green when it added, red when it sold.

Fund convictionQ2 2026 filings
51
big positions still being bought
31
aggressive buying last quarter
16
high-conviction trimming

Biggest conviction: SPCX at Baron Capital Group, 39.4% of the reported book. Filings are due 45 days after each quarter, so these are positions at the quarter’s end.

Latest read

Across 18 tracked managers' latest 13F filings (mostly Q2 2026, filed by August 14, 2026), 51 stocks are big positions still being bought, 31 were bought aggressively last quarter and 16 were big positions cut hard. The largest relative to its fund's average holding is SPCX at Baron Capital Group, 39.4% of the reported book, 124.4 times its average position.

Sources, methodology & freshnessSEC EDGAR 13F-HR filings and amendments for the tracked managers; daily prices from our own database · Filings quarterly (up to 45 days after each quarter); prices on the charts daily.Data as of 2026-08-14 · Open ↓
Source
SEC EDGAR 13F-HR filings and amendments for the tracked managers; daily prices from our own database
Methodology
Weights are shares of each fund's reported long stock positions, options excluded; share counts split-adjusted before any change is measured; fixed rules for big-and-still-bought, aggressive buying and high-conviction trimming
Updates
Filings quarterly (up to 45 days after each quarter); prices on the charts daily.Data as of 2026-08-14
Maintained & reviewed by Yuriy Matso — methodology shown on the page.
01

Big positions still being bought (51)

Stocks a manager holds at 5% or more of its reported book and added to in at least one of its last four quarters, or holds at 10% or more. Ordered by how large the position is against the fund's average holding.

SPCXSPACE EXPLORATION TECHN CORP

  • Baron Capital Group holds it at 39.4% of the book, 124.4× its average position (first reportable after the stock listed, Q2 2026).
226105Last 171.98
Baron Capital Group · Ron Baron39.4% of book · first reportable after the stock listed
146M shares at most
Jul 2023Feb 2025Oct 2026

NTRANatera Inc

  • Duquesne Family Office holds it at 22.5% of the book, 17.1× its average position (shares +4% last quarter, Q2 2026).
43737Last 400.65
Duquesne Family Office · Stanley Druckenmiller22.5% of book · shares +4% last quarter
3.6M shares at most
Jul 2023Feb 2025Oct 2026

GRBKGREEN BRICK PARTNERS INC

  • Greenlight Capital holds it at 21.9% of the book, 8.8× its average position (shares about unchanged, Q2 2026).
8537Last 67.00
Greenlight Capital · David Einhorn21.9% of book · shares about unchanged
10M shares at most
Oct 2023Apr 2025Oct 2026

AXPAMERICAN EXPRESS CO

  • Berkshire Hathaway holds it at 17.1% of the book, 4.8× its average position (shares about unchanged, Q2 2026).
387141Last 304.51
Berkshire Hathaway · Warren Buffett17.1% of book · shares about unchanged
152M shares at most
Jul 2023Feb 2025Oct 2026

WBDWARNER BROS DISCOVERY INC

  • Third Point holds it at 12.6% of the book, 4.8× its average position (new position, Q2 2026).
316.64Last 30.95
Third Point · Daniel Loeb12.6% of book · new position
20M shares at most
Jul 2023Feb 2025Oct 2026

STMStmicroelectronics N V

  • Duquesne Family Office holds it at 6.0% of the book, 4.6× its average position (shares +19% last quarter, Q2 2026).
8117Last 58.72
Duquesne Family Office · Stanley Druckenmiller6.0% of book · shares +19% last quarter
3.1M shares at most
Jul 2023Feb 2025Oct 2026

NVDANVIDIA CORPORATION

  • Altimeter Capital holds it at 22.9% of the book, 4.1× its average position (shares about unchanged, Q2 2026).
24339Last 239.24
Altimeter Capital · Brad Gerstner22.9% of book · shares about unchanged
9.4M shares at most
Jul 2023Feb 2025Oct 2026

TFPMTRIPLE FLAG PRECIOUS METAL

4212Last 30.68
Elliott Investment Management · Paul Singer29.1% of book · shares about unchanged
134M shares at most
Jul 2023Feb 2025Oct 2026

AMZNAMAZON COM INC

  • Baupost Group holds it at 17.9% of the book, 3.4× its average position (shares +20% last quarter, Q2 2026).
  • Pershing Square Capital holds it at 17.4% of the book, 1.7× its average position (shares +19% last quarter, Q1 2026).
  • Appaloosa Management holds it at 15.9% of the book, 4.0× its average position (shares +16% last quarter, Q2 2026).
  • Altimeter Capital holds it at 7.0% of the book, 1.3× its average position (shares +16% last quarter, Q2 2026).
287118Last 256.29
Baupost Group · Seth Klarman17.9% of book · shares +20% last quarter
3.7M shares at most
Pershing Square Capital · Bill Ackman17.4% of book · shares +19% last quarter
11M shares at most
Appaloosa Management · David Tepper15.9% of book · shares +16% last quarter
5.0M shares at most
Altimeter Capital · Brad Gerstner7.0% of book · shares +16% last quarter
2.4M shares at most
Mar 2023Jan 2025Oct 2026

MUMICRON TECHNOLOGY INC

  • Appaloosa Management holds it at 15.1% of the book, 3.8× its average position (shares −41% last quarter, Q2 2026).
125562Last 1045.56
Appaloosa Management · David Tepper15.1% of book · shares −41% last quarter
1.7M shares at most
Jul 2023Feb 2025Oct 2026

GOOGLALPHABET INC

  • Himalaya Capital holds it at 47.9% of the book, 3.4× its average position (shares about unchanged, Q2 2026).
  • Berkshire Hathaway holds it at 12.6% of the book, 3.5× its average position (shares +83% last quarter, Q2 2026).
  • Appaloosa Management holds it at 8.8% of the book, 2.2× its average position (shares +7% last quarter, Q2 2026).
  • Third Point holds it at 8.6% of the book, 3.3× its average position (shares +486% last quarter, Q2 2026).
409120Last 347.68
Himalaya Capital · Li Lu47.9% of book · shares about unchanged
5.6M shares at most
Berkshire Hathaway · Warren Buffett12.6% of book · shares +83% last quarter
106M shares at most
Appaloosa Management · David Tepper8.8% of book · shares +7% last quarter
2.8M shares at most
Third Point · Daniel Loeb8.6% of book · shares +486% last quarter
3.0M shares at most
Jul 2023Feb 2025Oct 2026

PSXPHILLIPS 66

27791Last 269.79
Elliott Investment Management · Paul Singer23.7% of book · shares about unchanged
19M shares at most
Jul 2023Feb 2025Oct 2026

GEGE AEROSPACE

  • Trian Fund Management holds it at 58.1% of the book, 2.3× its average position (shares about unchanged, Q2 2026).
  • TCI Fund Management holds it at 34.5% of the book, 3.1× its average position (shares about unchanged, Q2 2026).
38984Last 309.39
Trian Fund Management · Nelson Peltz58.1% of book · shares about unchanged
4.0M shares at most
TCI Fund Management · Chris Hohn34.5% of book · shares about unchanged
48M shares at most
Jul 2023Feb 2025Oct 2026

KOCOCA COLA CO

  • Berkshire Hathaway holds it at 10.9% of the book, 3.0× its average position (shares about unchanged, Q2 2026).
9252Last 86.17
Berkshire Hathaway · Warren Buffett10.9% of book · shares about unchanged
400M shares at most
Jul 2023Feb 2025Oct 2026

CVICVR Energy Inc

5915Last 57.42
Icahn Capital Management · Carl Icahn23.7% of book · shares about unchanged
71M shares at most
Jul 2023Feb 2025Oct 2026

FLRFLUOR CORP

  • Greenlight Capital holds it at 7.0% of the book, 2.8× its average position (shares −2% last quarter, Q2 2026).
6029Last 52.00
Greenlight Capital · David Einhorn7.0% of book · shares −2% last quarter
5.6M shares at most
Oct 2023Apr 2025Oct 2026

ASMLASML HLDG NV

  • Lone Pine Capital holds it at 8.8% of the book, 2.6× its average position (shares −13% last quarter, Q2 2026).
2000568Last 1834.10
Lone Pine Capital · Steve Mandel8.8% of book · shares −13% last quarter
655K shares at most
Jul 2023Feb 2025Oct 2026

TSMTAIWAN SEMICONDUCTOR MANUFAC

  • Appaloosa Management holds it at 10.6% of the book, 2.6× its average position (shares +24% last quarter, Q2 2026).
  • Altimeter Capital holds it at 8.3% of the book, 1.5× its average position (shares +5% last quarter, Q2 2026).
48785Last 482.30
Appaloosa Management · David Tepper10.6% of book · shares +24% last quarter
1.6M shares at most
Altimeter Capital · Brad Gerstner8.3% of book · shares +5% last quarter
1.4M shares at most
Third Point · Daniel Loeb5.2% of book · shares +67% last quarter
2.0M shares at most
Fundsmith · Terry Smith4.0% of book · new position
1.1M shares at most
Jul 2023Feb 2025Oct 2026

HDHOME DEPOT INC

  • Lone Pine Capital holds it at 7.2% of the book, 2.1× its average position (new position, Q2 2026).
439274Last 286.69
Lone Pine Capital · Steve Mandel7.2% of book · new position
2.6M shares at most
Jul 2023Feb 2025Oct 2026

PPTAPERPETUA RESOURCES CORP

  • Paulson & Co holds it at 26.1% of the book, 2.1× its average position (shares about unchanged, Q2 2026).
372.69Last 20.62
Paulson & Co · John Paulson26.1% of book · shares about unchanged
32M shares at most
Jul 2023Feb 2025Oct 2026
Also meeting the rule (31)
02

Aggressive buying last quarter (31)

A new position opened at 3% or more of the book, or shares raised by half or more at a weight of 2% or more, in the fund's latest filing.

PDDPDD HOLDINGS INC

  • Himalaya Capital holds it at 22.2% of the book, 1.6× its average position (shares +134% last quarter, Q2 2026).
16572Last 78.40
Himalaya Capital · Li Lu22.2% of book · shares +134% last quarter
11M shares at most
Jul 2023Feb 2025Oct 2026

MSFTMICROSOFT CORP

555311Last 529.30
Pershing Square Capital · Bill Ackman15.3% of book · new position
5.7M shares at most
Altimeter Capital · Brad Gerstner5.8% of book · shares +7% last quarter
1.7M shares at most
Mar 2023Jan 2025Oct 2026

GOOGLALPHABET INC

  • Berkshire Hathaway holds it at 12.6% of the book, 3.5× its average position (shares +83% last quarter, Q2 2026).
  • Third Point holds it at 8.6% of the book, 3.3× its average position (shares +486% last quarter, Q2 2026).
  • Duquesne Family Office holds it at 3.1% of the book, 2.4× its average position (new position, Q2 2026).
409120Last 347.68
Berkshire Hathaway · Warren Buffett12.6% of book · shares +83% last quarter
106M shares at most
Third Point · Daniel Loeb8.6% of book · shares +486% last quarter
3.0M shares at most
Duquesne Family Office · Stanley Druckenmiller3.1% of book · new position
838K shares at most
Himalaya Capital · Li Lu47.9% of book · shares about unchanged
5.6M shares at most
Jul 2023Feb 2025Oct 2026

WBDWARNER BROS DISCOVERY INC

  • Third Point holds it at 12.6% of the book, 4.8× its average position (new position, Q2 2026).
316.64Last 30.95
Third Point · Daniel Loeb12.6% of book · new position
20M shares at most
Jul 2023Feb 2025Oct 2026

GEHCGE HealthCare Technologies Inc.

  • Trian Fund Management holds it at 7.6% of the book, 0.3× its average position (built from a token stake last quarter, Q2 2026).
9558Last 64.77
Trian Fund Management · Nelson Peltz7.6% of book · built from a token stake last quarter
3.1M shares at most
Jul 2023Feb 2025Oct 2026

HDHOME DEPOT INC

  • Lone Pine Capital holds it at 7.2% of the book, 2.1× its average position (new position, Q2 2026).
439274Last 286.69
Lone Pine Capital · Steve Mandel7.2% of book · new position
2.6M shares at most
Jul 2023Feb 2025Oct 2026

AMATAPPLIED MATLS INC

  • Lone Pine Capital holds it at 6.8% of the book, 2.0× its average position (new position, Q2 2026).
740124Last 530.27
Lone Pine Capital · Steve Mandel6.8% of book · new position
1.2M shares at most
Jul 2023Feb 2025Oct 2026

GPCGENUINE PARTS CO

  • Baupost Group holds it at 6.7% of the book, 1.3× its average position (shares +89% last quarter, Q2 2026).
16491Last 127.38
Baupost Group · Seth Klarman6.7% of book · shares +89% last quarter
2.8M shares at most
Jul 2023Feb 2025Oct 2026

MDLNMEDLINE INC

  • Lone Pine Capital holds it at 6.5% of the book, 1.9× its average position (shares +78% last quarter, Q2 2026).
5131Last 35.55
Lone Pine Capital · Steve Mandel6.5% of book · shares +78% last quarter
21M shares at most
Jul 2023Feb 2025Oct 2026

TSMTAIWAN SEMICONDUCTOR MANUFAC

  • Third Point holds it at 5.2% of the book, 2.0× its average position (shares +67% last quarter, Q2 2026).
  • Fundsmith holds it at 4.0% of the book, 1.6× its average position (new position, Q2 2026).
48785Last 482.30
Third Point · Daniel Loeb5.2% of book · shares +67% last quarter
2.0M shares at most
Fundsmith · Terry Smith4.0% of book · new position
1.1M shares at most
Appaloosa Management · David Tepper10.6% of book · shares +24% last quarter
1.6M shares at most
Altimeter Capital · Brad Gerstner8.3% of book · shares +5% last quarter
1.4M shares at most
Jul 2023Feb 2025Oct 2026

METAMETA PLATFORMS INC

  • Appaloosa Management holds it at 5.1% of the book, 1.3× its average position (shares +55% last quarter, Q2 2026).
796279Last 738.88
Appaloosa Management · David Tepper5.1% of book · shares +55% last quarter
1.9M shares at most
Pershing Square Capital · Bill Ackman11.1% of book · shares about unchanged
2.7M shares at most
Altimeter Capital · Brad Gerstner9.3% of book · shares −31% last quarter
2.4M shares at most
Mar 2023Jan 2025Oct 2026

LYVLIVE NATION ENTERTAINMENT IN

  • Third Point holds it at 4.9% of the book, 1.9× its average position (shares +144% last quarter, Q2 2026).
18976Last 171.80
Third Point · Daniel Loeb4.9% of book · shares +144% last quarter
2.3M shares at most
Jul 2023Feb 2025Oct 2026
Also meeting the rule (19)
03

High-conviction trimming (16)

Positions that were 5% or more of the book, cut by a quarter or more or sold out in the fund's latest filing.

SUSUNCOR ENERGY INC NEW

7229Last 68.22
Elliott Investment Management · Paul Singer11.5% of book · shares −44% last quarter
53M shares at most
Jul 2023Feb 2025Oct 2026

METAMETA PLATFORMS INC

  • Altimeter Capital cut it to 9.3% of the book from 19.6% (shares −31% last quarter, Q2 2026).
796279Last 738.88
Altimeter Capital · Brad Gerstner9.3% of book · shares −31% last quarter
2.4M shares at most
Pershing Square Capital · Bill Ackman11.1% of book · shares about unchanged
2.7M shares at most
Appaloosa Management · David Tepper5.1% of book · shares +55% last quarter
1.9M shares at most
Mar 2023Jan 2025Oct 2026

GOOGLALPHABET INC

  • Fundsmith cut it to 4.6% of the book from 6.6% (shares −40% last quarter, Q2 2026).
  • Pershing Square Capital cut it to 0.7% of the book from 13.8% (shares −95% last quarter, Q1 2026).
409120Last 347.68
Fundsmith · Terry Smith4.6% of book · shares −40% last quarter
7.6M shares at most
Pershing Square Capital · Bill Ackman0.7% of book · shares −95% last quarter
14M shares at most
Himalaya Capital · Li Lu47.9% of book · shares about unchanged
5.6M shares at most
Berkshire Hathaway · Warren Buffett12.6% of book · shares +83% last quarter
106M shares at most
Mar 2023Jan 2025Oct 2026

WCCWESCO INTL INC

  • Baupost Group cut it to 4.6% of the book from 8.8% (shares −54% last quarter, Q2 2026).
389122Last 384.09
Baupost Group · Seth Klarman4.6% of book · shares −54% last quarter
2.2M shares at most
Jul 2023Feb 2025Oct 2026

WATWATERS CORP

  • Fundsmith cut it to 6.3% of the book from 7.5% (shares −29% last quarter, Q2 2026).
455232Last 436.43
Fundsmith · Terry Smith6.3% of book · shares −29% last quarter
4.0M shares at most
Jul 2023Feb 2025Oct 2026

VSTVISTRA CORP

  • Lone Pine Capital cut it to zero of the book from 7.4% (sold out (was 7.4%), Q2 2026).
22031Last 160.50
Lone Pine Capital · Steve Mandel0% of book · sold out (was 7.4%)
6.8M shares at most
Jul 2023Feb 2025Oct 2026

BABAALIBABA GROUP HLDG LTD

19365Last 109.26
Appaloosa Management · David Tepper2.6% of book · shares −42% last quarter
12M shares at most
Jul 2023Feb 2025Oct 2026

VVISA INC

  • Fundsmith cut it to 5.1% of the book from 7.3% (shares −35% last quarter, Q2 2026).
386228Last 370.64
Fundsmith · Terry Smith5.1% of book · shares −35% last quarter
5.8M shares at most
TCI Fund Management · Chris Hohn20.4% of book · shares about unchanged
30M shares at most
Jul 2023Feb 2025Oct 2026

PMPHILIP MORRIS INTL INC

  • Fundsmith cut it to 3.9% of the book from 6.6% (shares −43% last quarter, Q2 2026).
20887Last 190.40
Fundsmith · Terry Smith3.9% of book · shares −43% last quarter
15M shares at most
Jul 2023Feb 2025Oct 2026

CRSCARPENTER TECHNOLOGY CORP

  • Lone Pine Capital cut it to 4.6% of the book from 5.7% (shares −47% last quarter, Q2 2026).
  • Third Point cut it to 3.1% of the book from 6.5% (shares −31% last quarter, Q2 2026).
62659Last 395.71
Lone Pine Capital · Steve Mandel4.6% of book · shares −47% last quarter
1.8M shares at most
Third Point · Daniel Loeb3.1% of book · shares −31% last quarter
870K shares at most
Jul 2023Feb 2025Oct 2026

IDXXIDEXX LABS INC

  • Fundsmith cut it to 3.9% of the book from 6.4% (shares −30% last quarter, Q2 2026).
770356Last 515.41
Fundsmith · Terry Smith3.9% of book · shares −30% last quarter
3.0M shares at most
Jul 2023Feb 2025Oct 2026

ADPAUTOMATIC DATA PROCESSING IN

  • Fundsmith cut it to 4.3% of the book from 6.1% (shares −33% last quarter, Q2 2026).
330188Last 262.36
Fundsmith · Terry Smith4.3% of book · shares −33% last quarter
5.8M shares at most
Jul 2023Feb 2025Oct 2026
Also meeting the rule (4)
04

Funds and method

How it is measured

Weights are shares of each fund’s reported long stock positions; options are excluded, and a fund’s total capital is not disclosed. Filings are read with their amendments applied, and share counts are adjusted for stock splits before any change is measured. Bars show shares held at each quarter-end; trades inside a quarter are not visible. The full holdings are on 13F Consensus Tracker.

How High-Conviction Stocks Works

  1. 1
    Read every tracked manager's 13F, amendments included
    Each fund's quarterly 13F filings are read from SEC EDGAR with their amendments applied: a restatement replaces the original filing and a new-holdings amendment adds to it. Missing an amendment would show up here as a false purchase or sale.
  2. 2
    Measure each position against the fund's own book
    A position's weight is its share of the fund's reported long stock positions. Options are left out, because a reported option value is the value of the underlying shares, which can be far larger than the money at risk. The weights describe the reported stock book; a fund's total capital is larger and is not disclosed.
  3. 3
    Put share counts on one basis
    Filings report shares as filed, so a stock split looks like a huge purchase. Every quarter's count is adjusted to today's share basis before any change is measured, and a quarter without a usable price is never used to call a purchase or a sale.
  4. 4
    Sort the moves into three lists by fixed rules
    Big positions still being bought: 5% or more of a fund's book with shares added in one of the last four quarters, or 10% or more. Aggressive buying: a new position of 3% or more, or shares up 50% or more at a weight of 2% or more, last quarter. High-conviction trimming: a position of 5% or more cut by a quarter or more, or sold out, last quarter.

Who Uses High-Conviction Stocks

Investors looking for ideas with conviction behind them
A position a manager has made large and keeps adding to says more than a small new holding. The first list shows where that is happening, and the bars show how each position was built.
Holders checking who is selling
The trimming list shows where a manager that held a stock as a big position cut it hard last quarter, the opposite signal to the buying lists.
Readers of manager letters and interviews
What a manager says and what the filings show do not always match. The share bars show what was actually bought and sold, quarter by quarter.

Pro Tips

01
Filings arrive up to 45 days late
A 13F shows holdings at the quarter's end and is filed up to 45 days later. By the time a move appears here, the fund may already have changed it. Read the lists as what managers did, not what they are doing today.
02
Look at the bars, not only the weight
A weight can rise because the stock rallied while the fund did nothing. Green bars mean the share count actually went up. A tall weight on flat grey bars is a position the manager let run.
03
Disagreement is information
When one fund is pressing a stock and another is trimming it, both appear on the same card. That split is often more useful than a single fund's view.

Common Issues & Solutions

A stock a fund owns is missing▾
It does not meet a rule: it is below 5% of the fund's reported book and was not bought or cut hard last quarter. Every holding is on the fund's own 13F page.
The weight differs from another site▾
Weights here exclude options and are measured against the fund's reported long stock positions. Sites that include the notional value of options, or measure against total reported value, show different percentages.
A fund is not on the page▾
The page leaves out the Gates Foundation Trust, an endowment rather than a trading manager, and any fund whose latest filing is more than a quarter behind the others. Both are listed at the bottom of the page.

Frequently Asked Questions

What is a high-conviction stock?▾
Here it is a stock that a well-known fund manager holds as a large share of its reported portfolio and has kept buying: 5% or more of the reported book with shares added in one of the last four quarters, or 10% or more. A large position that a manager keeps adding to says more about conviction than a small one.
Which fund managers are tracked?▾
Twenty well-known managers file 13F reports that we track, including Berkshire Hathaway, Pershing Square, Duquesne Family Office, Appaloosa, Lone Pine and Third Point. The page lists the funds it uses and any it leaves out, with the reason.
How current is this?▾
Funds report their holdings within 45 days of each quarter's end, so the latest positions describe the end of the previous quarter. Prices on the charts update every trading day; the share bars change when new filings arrive.
Why do some charts show a stock being sold?▾
The page has a section for high-conviction trimming: big positions that a manager cut by a quarter or more, or sold out, last quarter. When managers disagree about a stock, every relevant fund appears on its card.

Explore Other Tools

13F Consensus Tracker
What the tracked managers bought and sold, counted in funds.
Fund Managers
Every tracked manager's full portfolio and history.
Unusual Volume
Where trading activity spiked in the latest session.
Momentum Scanner
The strongest liquid stocks by a seven-factor score.
Last updated: 2026-08-14