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2021 Q1 Smart Money Report
What institutional investors did with their portfolios in 2021 Q1. Data from SEC 13F filings across 551+ tracked funds.
Updated March 31, 2021
Biggest New Positions
Largest fresh entries initiated this quarter by dollar value.
| Fund | Stock | Value | Weight | Conviction |
|---|---|---|---|---|
| SISB INVESTMENT ADVISERS (UK) LTD |  COUPANG INC | $28B | +48.5% | 100 |
| SISB INVESTMENT ADVISERS (UK) LTD |  KE HLDGS INC | $6B | +10.3% | 100 |
 MAVERICK CAPITAL LTD | COUPANG INC | $5B | +46.4% | 98 |
 SC US (TTGP), LTD. |  SNOWFLAKE INC | $4B | +24.0% | 100 |
 Blackstone Inc. |  BUMBLE INC | $3.4B | +7.1% | 98 |
 Carlyle Group Inc. |  ATOTECH LTD | $3.1B | +23.5% | 100 |
| Carlyle Group Inc. |  ORTHO CLINICAL DIAGNOSTICS H | $2.8B | +20.9% | 100 |
 TIGER GLOBAL MANAGEMENT LLC |  ROBLOX CORP | $2.6B | +6.0% | 98 |
 Optiver Holding B.V. |  SHELL PLC | $2.6B | +2.9% | 83 |
 Swedbank AB |  MICROSOFT CORP | $2.4B | +5.1% | 98 |
Notable Exits
Positions completely sold this quarter, ranked by previous value.
| Fund | Stock | Previous Value |
|---|---|---|
 LMR Partners LLP | TETESLA INC | $2.1B |
 GQG Partners LLC |  MERCADOLIBRE INC | $1.8B |
| DED. E. Shaw & Co., Inc. | TETESLA INC | $1.7B |
 BROOKFIELD Corp /ON/ |  NORBORD INC | $1.5B |
| LALINDEN ADVISORS LP | PIPINDUODUO INC | $1.2B |
 POLEN CAPITAL MANAGEMENT LLC |  DOLLAR GEN CORP | $1.2B |
 UBS Group AG |  FIAT CHRYSLER AUTOMOBILES N | $1.1B |
 Pershing Square Capital Management, L.P. |  STARBUCKS CORP | $1.1B |
 DODGE & COX | CXCONCHO RES INC | $1.1B |
 D1 Capital Partners L.P. |  JPMORGAN CHASE & CO | $1B |
Top Double-Downs
Funds increasing positions into price weakness - contrarian conviction.
| Fund | Stock | Position Increase | Price Drop | DD Score |
|---|---|---|---|---|
 FIL Ltd |  VERISIGN INC | +148.8Kx | -9.2% | 136,201,392 |
 CANADA PENSION PLAN INVESTMENT BOARD |  ALGONQUIN POWER & UTILITIES | +300.0Kx | -4.2% | 124,803,352 |
 FRED ALGER MANAGEMENT, LLC | YSYATSEN HLDG LTD | +42.0Kx | -25.6% | 107,712,177 |
 BARCLAYS PLC |  VANGUARD BD INDEX FDS | +266.6Kx | -3.5% | 92,299,406 |
| BARCLAYS PLC |  AQUABOUNTY TECHNOLOGIES INC | +12.7Kx | -31.0% | 39,447,548 |
 CAPTRUST FINANCIAL ADVISORS |  ProShares UltraPro Short QQQ | +25.3Kx | -10.2% | 25,779,224 |
 FRANKLIN RESOURCES INC |  VANECK ETF TRUST | +24.0Kx | -7.8% | 18,793,292 |
 FEDERATED HERMES, INC. |  BLINK CHARGING CO | +4994x | -18.3% | 9,117,597 |
 Compagnie Lombard Odier SCmA |  EDITAS MEDICINE INC | +1892x | -47.1% | 8,903,247 |
 FIRST MANHATTAN CO. LLC. |  DOMINOS PIZZA INC | +18.7Kx | -4.0% | 7,535,192 |
Highest Conviction Moves
The positions funds are most committed to this quarter.
| Fund | Stock | Type | Value | Conviction |
|---|---|---|---|---|
| SISB INVESTMENT ADVISERS (UK) LTD | KE HLDGS INC | New | $6B | 100 |
 Varma Mutual Pension Insurance Co |  VANGUARD INDEX FDS | Increased | $902.7M | 100 |
 TCI Fund Management Ltd |  S&P GLOBAL INC | Increased | $2.1B | 100 |
| SISB INVESTMENT ADVISERS (UK) LTD | COUPANG INC | New | $28B | 100 |
| SC US (TTGP), LTD. | SNOWFLAKE INC | New | $4B | 100 |
 NATIXIS |  AMAZON COM INC | Increased | $1.9B | 100 |
| Pershing Square Capital Management, L.P. | DOMINOS PIZZA INC | New | $748.7M | 100 |
 PUBLIC INVESTMENT FUND |  ELECTRONIC ARTS INC | Increased | $1.9B | 100 |
| WPWINDACRE PARTNERSHIP LLC | AMAZON COM INC | Increased | $528.8M | 100 |
| ALAltimeter Capital Management, LP | SNOWFLAKE INC | Increased | $7.4B | 100 |
Best & Worst Trades
Top 5 winners and losers by estimated P&L.
Top Winners
GPAEFSteward Partners Investment Advisory, LLCJDJDZGUBS Group AG
+384x
WINGBLACKROCK ADVISORS LLC
NVDABLACKROCK ADVISORS LLC
GSIWJANE STREET GROUP, LLCTop Losers
VCIGCITADEL ADVISORS LLC
EVFMPentwater Capital Management LPWLWLGSFCITADEL ADVISORS LLC
-100.0%
FRGTSUSQUEHANNA INTERNATIONAL GROUP, LLP
GMBLSUSQUEHANNA INTERNATIONAL GROUP, LLPCongress × Smart Money Overlap
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 |
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer