2019 Q4 Smart Money Report

Largest fresh entries initiated this quarter by dollar value.

Fund	Stock	Value	Weight	Conviction
LMR Partners LLP	CACAESARS ENTMT CORP	$9.6B	+15.7%	98
FRANKLIN RESOURCES INC	MICROSOFT CORP	$4.2B	+2.2%	83
RENAISSANCE TECHNOLOGIES LLC	BRISTOL-MYERS SQUIBB CO	$3.9B	+3.0%	83
LMR Partners LLP	CLCLEVELAND-CLIFFS INC	$3.2B	+5.2%	98
LMR Partners LLP	TETESLA INC	$3.1B	+5.0%	98
LMR Partners LLP	LILIBERTY INTERACTIVE LLC	$3B	+5.0%	88
HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND	State Street Spdr S&p 500 Etf Trust TR UNIT	$2.9B	+12.6%	98
FRANKLIN RESOURCES INC	WELLS FARGO & CO	$2.9B	+1.5%	73
LMR Partners LLP	ISISTAR INC	$2.8B	+4.6%	88
DEUTSCHE BANK AG\	WAWAYFAIR INC	$2.6B	+1.7%	73

Positions completely sold this quarter, ranked by previous value.

Fund	Stock	Previous Value
Capital World Investors	TATARGET CORP	$1.9B
Blackstone Inc.	INVITATION HOMES INC	$1.7B
MASSACHUSETTS FINANCIAL SERVICES CO /MA/	BB&T CORP	$1.6B
AGADAGE CAPITAL PARTNERS GP, L.L.C.	CELGENE CORP	$1.5B
BAILLIE GIFFORD & CO	CTRIP COM INTL LTD	$1.4B
Capital International Investors	SUSUNTRUST BKS INC	$1.4B
DODGE & COX	BB&T CORP	$1.3B
GEODE CAPITAL MANAGEMENT, LLC	CELGENE CORP	$1.1B
Capital World Investors	SYMANTEC CORP	$1.1B
GLENMEDE TRUST CO NA	CACALL ON SPX 12/20/19 @ 1000	$1B

Funds increasing positions into price weakness - contrarian conviction.

Fund	Stock	Position Increase	Price Drop	DD Score
FIL Ltd	ARISTA NETWORKS INC	+318.5Kx	-16.3%	518,621,846
DEUTSCHE BANK AG\	NORTHERN DYNASTY MINERALS	+112.0Kx	-32.8%	367,177,049
Cubist Systematic Strategies, LLC	NOKIA CORP	+37.4Kx	-26.9%	100,721,369
MWMARSHALL WACE, LLP	AMTD IDEA Group	+38.9Kx	-5.3%	20,797,201
Cubist Systematic Strategies, LLC	HIGH TEMPLAR TECHNOLOGY LTD	+5099x	-32.8%	16,721,721
MWMARSHALL WACE, LLP	OPKO HEALTH INC	+5573x	-29.8%	16,610,633
FIL Ltd	PINNACLE WEST CAP CORP	+10.3Kx	-7.6%	7,881,707
BARCLAYS PLC	WESTWATER RES INC	+2210x	-35.2%	7,784,478
DEUTSCHE BANK AG\	CO-DIAGNOSTICS INC	+5350x	-14.5%	7,750,000
UBS Group AG	AYTU BIOPHARMA INC	+3233x	-23.6%	7,622,520

The positions funds are most committed to this quarter.

Fund	Stock	Type	Value	Conviction
H&H International Investment, LLC	AMAZON COM INC	Increased	$314.1M	100
SOSquarepoint Ops LLC	iShares Trust CORE S&P500 ETF	Increased	$3.8B	100
GQG Partners LLC	ALIBABA GROUP HLDG LTD	Increased	$1.6B	100
Soroban Capital Partners LP	CSX CORP	New	$497.3M	100
KING STREET CAPITAL MANAGEMENT, L.P.	ISHARES TR	New	$659.6M	100
DUDurable Capital Partners LP	ISHARES TR	New	$499.5M	100
VIKING GLOBAL INVESTORS LP	UBER TECHNOLOGIES INC	Increased	$1.1B	100
M&T BANK CORP	ISHARES TR	Increased	$5.6B	100
Rakuten Investment Management, Inc.	VANGUARD INDEX FDS	New	$682.7M	100
NMNational Mutual Insurance Federation of Agricultural Cooperatives	VANGUARD INDEX FDS	Increased	$830.2M	100

Top 5 winners and losers by estimated P&L.

Top Winners

GPAEFSteward Partners Investment Advisory, LLC

+532x

JDJDZGUBS Group AG

+384x

WINGBLACKROCK ADVISORS LLC

+332x

NVDABLACKROCK ADVISORS LLC

+296x

GSIWJANE STREET GROUP, LLC

+197x

Top Losers

VCIGCITADEL ADVISORS LLC

-100.0%

EVFMPentwater Capital Management LP

-100.0%

WLWLGSFCITADEL ADVISORS LLC

-100.0%

FRGTSUSQUEHANNA INTERNATIONAL GROUP, LLP

-100.0%

GMBLSUSQUEHANNA INTERNATIONAL GROUP, LLP

-100.0%

Stocks where members of Congress AND institutional investors both bought — disclosed in Q1 2026. 72 stocks overlapped this quarter.

Stock	Congress	Funds
WATWATERS CORP	2 members	275 funds
AZNASTRAZENECA PLC	2 members	272 funds
TSLATESLA INC	3 members	228 funds
WELLWELLTOWER INC	2 members	227 funds
HBANHUNTINGTON BANCSHARES INC	1 members	225 funds
EXEEXPAND ENERGY CORPORATION	1 members	203 funds
PFEPFIZER INC	1 members	202 funds
GOOGALPHABET INC	4 members	198 funds
TSMTAIWAN SEMICONDUCTOR MANUFAC	4 members	192 funds
KVUEKENVUE INC	3 members	184 funds