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Quarterly Brief

2026Q1 — what the cohort just did

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TL;DR

  1. 01Alphabet (GOOG/GOOGL) is the quarter's loudest signal: Buffett nearly triples his GOOGL stake to ~$15.6B (2% → 6% of Berkshire), Armitage adds GOOG aggressively (+221%), Duan Yongping doubles, Loeb and Mandel initiate — value, growth, macro, and quality all converging simultaneously.
  2. 02Ackman dumps Hilton, buys MSFT at $2.1B (15% of portfolio) — a rare tech initiation from a concentrated value/activist; simultaneous exits by Gates Foundation and Armitage on the same name create a sharp divergence worth watching.
  3. 03SUNB (Sunbelt Rentals) is a sleeper consensus: Five distinct-style managers (Dorsey, Russo, AKO, Greenberg, Rochon) all initiate — equipment rental moat thesis crossing quality-compounder and value camps.
  4. 04UBER attracts a 3x add from Tepper (+242%, now 7.7% of Appaloosa) plus new positions from Dorsey and Armitage adds — platform durability thesis gaining multi-style traction.
  5. 05Druckenmiller exits broad ETF proxies (XLF, RSP) entirely and concentrates into NTRA (21% of portfolio) — dramatic shift from macro hedges to single-name biotech conviction.

Watchlist

  1. 01GOOG/GOOGL — Buffett's tripling + Armitage's full rotation into it from MSFT + Duan doubling = the highest-signal move in years; AI search durability thesis deserves immediate deep diligence.
  2. 02SUNB — Five first-time buyers from entirely different investment frameworks in a single quarter on a newly public equipment-rental company; likely mispriced relative to Ashtead parent and URI comps.
  3. 03UBER — Tepper's 242% add to a 7.7% position, Dorsey initiating at 6.2%, and Armitage adding — three independent conviction signals on a name where autonomous vehicle risk is the main bear case; worth stress-testing that thesis.
  4. 04NTRA (Natera) — Druckenmiller now at 20.9% of his disclosed portfolio in a single liquid biopsy name; when Druckenmiller concentrates this hard, the position deserves a standalone research project.
  5. 05ICLR (ICON PLC) — Greenberg's 8.2% initiation in a CRO is atypical for his ultra-concentrated style (typically 6-8 names total); biotech outsourcing recovery + M&A optionality in a beaten-down sector warrants attention.

AI-generated. Not investment advice.

Per-bucket analyst tables(expand ↓)

Super Investor Brief — 2026Q1

New Positions

Ticker Investor Value % Portfolio Why This Matters
MSFT Bill Ackman $2.09B 15.3% Ackman's largest-ever tech initiation; signals AI-infrastructure repricing thesis at scale.
TSLA Duan Yongping $1.27B 6.3% Yongping already owns massive AAPL/NVDA/BRK; TSLA new here — China value legend pivoting to autonomous optionality.
LIN John Armitage $530M 5.9% Cantillon-style quality compounder add; industrial gas oligopoly as inflation-resistant infrastructure play.
NVDA John Armitage $467M 5.2% Armitage exits MSFT, rotates into NVDA — direct AI-hardware expression replacing software proxy.
TER Stephen Mandel $555M 4.4% Lone Pine initiates in semiconductor test equipment — likely positioning for AI-driven chip capex cycle.
ICLR Glenn Greenberg $332M 8.2% Greenberg's concentrated style means 8% is high conviction; CRO sector re-rating post-biotech funding recovery.
KKR Jeffrey Ubben $303M 5.3% Ubben's ESG-tilted fund buying an alt-asset manager signals fee-stream durability at current multiples.
AON Seth Klarman $248M 4.9% Klarman (Baupost) historically avoids plain-vanilla franchises; insurance brokerage pricing power is a value unlock signal.
V Seth Klarman $212M 4.1% Baupost initiating in Visa alongside Armitage's add — payments network as defensive earnings compounder in uncertain macro.
SUNB Pat Dorsey $144M 11.4% Dorsey's largest new position; equipment rental has Buffett-style moat characteristics Dorsey prizes (intangibles + returns).

Conviction Adds

Ticker Investor New Value % Portfolio Δ% Shares Why This Matters
GOOGL Warren Buffett $15.6B 5.9% +204% Berkshire tripling a mega-cap stake is seismic; at ~$15.6B this is now a top-5 Berkshire position — Buffett's strongest public tech statement ever.
UBER David Tepper $456M 7.7% +242% Tepper nearly quadruples — from a 2.2% toehold to a top position; his macro frame + Uber's global platform leverage is clear.
GOOG John Armitage $992M 11.0% +221% Cantillon exits MSFT entirely and adds 3x to GOOG in the same quarter — explicit AI search durability bet over cloud software.
NVDA Duan Yongping $2.41B 12.1% +91% Already a $1.4B position, now nearly doubled; Yongping's concentrated portfolio reaching ~12% NVDA is extreme conviction.
AMZN David Tepper $900M 15.2% +98% Doubles AMZN to become Tepper's largest disclosed position — AWS re-acceleration plus ad monetization thesis.
NTRA Stanley Druckenmiller $613M 20.9% +22% Portfolio weight jumps from 13.6% to 20.9%; Druckenmiller concentrating further into liquid biopsy at the expense of ETF proxies.
PDD Duan Yongping $2.02B 10.1% +71% Yongping doubles PDD while adding NVDA and BRK/B — now running a hyper-concentrated 4-name book with massive China/AI exposure.
MCO John Armitage $674M 7.5% +100% Doubles Moody's alongside adding GOOG, LIN, NVDA — Armitage doing a full portfolio rotation into durable-franchise names.
TSM Chase Coleman $1.88B 8.2% +49% Tiger Global lifts TSM from 3.8% to 8.2% of portfolio — semiconductor supply chain as AI infrastructure cornerstone.
ALK Christopher Bloomstran $62M 7.4% +314% Quadruples a small airline stake — contrarian value signal; ALK's low-cost model and balance sheet likely priced for distress.

Exits

Ticker Investor Prev Value Prev % Port Why This Matters
MSFT Gates Foundation $3.72B 10.5% Full exit of a multi-billion anchor position — institutional rebalancing signal; combined with Armitage/Loeb exits this is meaningful distribution.
MSFT John Armitage $846M 9.2% Armitage exits MSFT entirely while buying GOOG and NVDA — explicit rotation from software AI story to search + silicon.
MSFT Daniel Loeb $447M 6.1% Third Pointer exits alongside Armitage and Gates; three very different funds selling simultaneously is a real headwind.
PCG Daniel Loeb $551M 7.6% Third Point's utility special-situation thesis likely played out; full exit of a near-8% position closes the regulatory/restructuring trade.
HLT Bill Ackman $870M 5.6% Ackman funds his MSFT purchase by liquidating Hilton — consumer travel sold for AI infrastructure.
BSX John Armitage $513M 5.6% Armitage exits Boston Scientific alongside COF and MSFT — cleaning house across financials and medtech in one quarter.
COF John Armitage $501M 5.5% Capital One exit likely pre-dates/coincides with Discover merger close; de-risking consumer credit exposure.
XLF Stanley Druckenmiller $301M 7.1% Druckenmiller liquidates his broad financial ETF hedge/exposure — macro view shifting away from broad reflation toward concentrated single names.
FIS Seth Klarman $299M 5.7% Baupost exits fintech infrastructure play, simultaneously initiates AON and V — rotating toward cleaner, less-disrupted moats.
OXY Prem Watsa $249M 11.9% Fairfax exits energy entirely; notable given Buffett's ongoing OXY accumulation — a rare directional disagreement between value legends.

Consensus Buys

Ranked by number of distinct buyers, then aggregate weight of new/added capital.

Ticker Buyers (n) Investors Aggregate Signal
GOOG/GOOGL 7 Buffett (NEW/ADD), Armitage (ADD +221%), Duan (ADD), Loeb (NEW), Mandel (NEW), Hohn (NEW), Bloomstran (NEW) Strongest multi-style consensus in the dataset — value legend, quality growth, macro, and activist all initiating or aggressively adding.
AMZN 5 Klarman (ADD +47%), Tepper (ADD +98%), Hong (ADD +57%), Rolfe (ADD +71%), Terry Smith (ADD) Deep-value (Baupost), macro (Appaloosa), growth (ShawSpring), and quality (Fundsmith) all adding — cloud + ads thesis convergence.
SUNB 5 Dorsey (NEW 11.4%), Russo (NEW 4.6%), AKO (NEW 4.1%), Greenberg (NEW), Rochon (NEW) IPO/spin-off of Ashtead's US business attracting value, quality-compounder, and moat-focused managers simultaneously.
V 4 Klarman (NEW), Armitage (ADD), Ubben (ADD +35%), Mandel (ADD +510%) Payments network consensus — Baupost and Cantillon both adding or initiating is a durable-franchise buy signal.
UBER 3 Tepper (ADD +242%), Armitage (ADD +74%), Dorsey (NEW 6.2%) Three very different risk frameworks (macro, quality-growth, moat-focused) aligned on Uber's platform compounding.
NVDA 3 Duan (ADD +91%), Armitage (NEW), Weitz (NEW) Value-oriented Weitz initiating NVDA alongside Armitage is mildly out-of-character — signals valuation becoming less stretched.
SPOT 5 Coleman (ADD), Ubben (NEW), Vinall (NEW), Mandel (ADD +288%), Von Mueffling (NEW) Growth + quality camps converging; Spotify's ad-supported + subscription dual model repricing as audio's dominant platform.
LIN 3 Armitage (NEW 5.9%), AKO (ADD +899%), Druckenmiller (NEW) Industrial gas oligopoly attracting macro and quality-compounder capital — pricing power + energy transition infrastructure.
ASML 3 Valley Forge (ADD +36%), Loeb (NEW), Weitz (NEW) Semiconductor equipment monopoly; Loeb and Weitz initiating signals ASML's export restriction overhang seen as priced-in.
TSM 3 Coleman (ADD +49%), Terry Smith (ADD), Weitz (NEW) AI chip fab thesis — growth and quality managers both adding.
MA 3 Triple Frond (NEW 9.1%), AKO (ADD +55%), Bloomstran (NEW) Mastercard adding buyers as Akre trims; net flow is incrementally positive across managers.

High-Conviction Overlap

Tickers held at material weight (top holdings) across ≥3 distinct-style managers.

Ticker Key Holders Aggregate Disclosed Long Signal
AMZN Ackman (17.4%), Loeb (19.4%), Tarasoff (18.9%), AltaRock (38.2%), Tepper (15.2%), Klarman (12.7%), Ubben (10.5%), Triple Frond (10.4%), Coleman (9.1%) ~$9B+ across cohort The single most widely held high-conviction name in the cohort; 9 managers with 10%+ portfolio weights — remarkable depth.
GOOG/GOOGL Li Lu (GOOG 22% + GOOGL 23%), Chase Coleman (GOOGL 13.4%), Armitage (GOOG 11%), Thomas Russo (GOOG 11%), Lindsell Train (GOOGL 15.6%), Terry Smith (GOOGL 7.4%), Von Mueffling (GOOGL 7.1%), Buffett (GOOGL 5.9%) ~$25B+ across cohort Largest absolute aggregate across the entire dataset; Buffett's tripling this quarter tips it from consensus hold to conviction buy.
V Hohn (20.4%), Armitage (13.8%), Ubben (12.3%), Valley Forge (22%), Klarman (4.1%), Akre (8.1%), Terry Smith (7%) ~$13B across cohort Chris Hohn's $9.2B anchor position makes V the largest single-manager position in the dataset; incremental adds from Klarman/Ubben are validation.
MA Akre (18.6%), Valley Forge (22%), Thomas Russo (9.1%), AltaRock (6.3%), Triple Frond (9.1%) ~$3B across cohort Two managers holding MA as their largest position (Akre, Valley Forge); despite Akre trimming, the bench depth is strong.
BRK/B Gates Foundation (25.8%), Duan (21.9%), Li Lu (13.4%), Bloomstran (14.5%), Weitz (9.3%) ~$13B across cohort Classic "own the owner" trade; Duan adding aggressively while Gates Foundation passively declines — net flow still positive.
MCO Hohn (13.8%), Valley Forge (17%), Armitage (7.5%), AltaRock (9.1%), Akre (8.9%) ~$8.5B across cohort Five concentrated managers in Moody's — Armitage doubling while Akre trims is a rotation within the same conviction set.
META Vinall (21.8%), Ubben (9.2%), Coleman (7.7%), Rochon (6.4%), Rolfe (7.8%) ~$2.6B across cohort Quality-compounder and growth managers holding META as a top-3 position; no adds this quarter but no meaningful selling either.
MSFT AltaRock (16.8%), Triple Frond (13.6%), Vulcan (10.9%), Ackman (15.3% — NEW) ~$3.3B across cohort Ackman's $2.1B initiation offsets Gates/Armitage/Loeb exits in terms of buyer count, but the exits represent more institutional weight.
TDG AltaRock (25.5%), Bryan Lawrence (12.4%), Triple Frond (12.8%) ~$1.2B across cohort Three concentrated managers with TransDigm as a top-3 position — aerospace aftermarket compounding thesis remains intact.
TSM Coleman (8.2%), Von Mueffling (5.6%), Druckenmiller (5.7%), Tepper (7.6%) ~$3.3B across cohort Growth + macro alignment on semiconductor supply chain — Coleman's aggressive add is the delta this quarter.

Long US equity 13F filings only. Per-investor briefs live on each manager's page. Not investment advice.