2021 Q3 Smart Money Report

Largest fresh entries initiated this quarter by dollar value.

Fund	Stock	Value	Weight	Conviction
Optiver Holding B.V.	STSTATE STR SPDR S&P 500 ETF T	$34.6B	+33.9%	98
PUBLIC INVESTMENT FUND	LUCID GROUP INC	$25.8B	+59.3%	99
Optiver Holding B.V.	STSTATE STR SPDR S&P 500 ETF T	$16.2B	+15.9%	98
BROOKFIELD Corp /ON/	BROOKFIELD ASSET MANAGEMENT	$7B	+28.6%	98
Optiver Holding B.V.	ININVESCO QQQ TR	$6.7B	+6.6%	98
Optiver Holding B.V.	TETESLA INC	$4.5B	+4.4%	88
Apollo Management Holdings, L.P.	TD SYNNEX CORPORATION	$4.5B	+22.0%	98
VIKING GLOBAL INVESTORS LP	GINKGO BIOWORKS HOLDINGS INC	$3.9B	+10.8%	98
Optiver Holding B.V.	ININVESCO QQQ TR	$3.7B	+3.6%	88
NATIXIS	State Street Spdr S&p 500 Etf Trust TR UNIT	$3.3B	+11.5%	98

Positions completely sold this quarter, ranked by previous value.

Fund	Stock	Previous Value
SISB INVESTMENT ADVISERS (UK) LTD	KE HLDGS INC	$3.9B
BROOKFIELD Corp /ON/	BPBROOKFIELD PROPERTY PARTRS L	$2.3B
CAISSE DE DEPOT ET PLACEMENT DU QUEBEC	Lightspeed Commerce Inc. Subord	$2B
LONE PINE CAPITAL LLC	L BRANDS INC	$1.9B
Pershing Square Capital Management, L.P.	AGILENT TECHNOLOGIES INC	$1.7B
FARALLON CAPITAL MANAGEMENT, L.L.C.	ALEXION PHARMACEUTICALS INC	$1.4B
PEPentwater Capital Management LP	MAXIM INTEGRATED PRODS INC	$1.2B
Fundsmith LLP	BECTON DICKINSON & CO	$1.1B
LONE PINE CAPITAL LLC	GLOBAL PMTS INC	$1B
AGADAGE CAPITAL PARTNERS GP, L.L.C.	ALEXION PHARMACEUTICALS INC	$962.3M

Funds increasing positions into price weakness - contrarian conviction.

Fund	Stock	Position Increase	Price Drop	DD Score
UBS Group AG	TANTECH HLDGS LTD	+17.5Kx	-42.5%	74,481,250
NISA INVESTMENT ADVISORS, LLC	ALIBABA GROUP HLDG LTD	+18.4Kx	-35.7%	65,778,868
HARDING LOEVNER LP	BAIDU INC	+19.5Kx	-26.9%	52,478,900
CANADA PENSION PLAN INVESTMENT BOARD	PITNEY BOWES INC	+31.6Kx	-15.2%	48,091,370
Parallax Volatility Advisers, L.P.	MICRON TECHNOLOGY INC	+26.0Kx	-13.6%	35,434,846
CANADA PENSION PLAN INVESTMENT BOARD	DXC TECHNOLOGY CO	+28.8Kx	-12.2%	35,036,482
FEDERATED HERMES, INC.	RIGEL PHARMACEUTICALS INC	+17.2Kx	-18.4%	31,751,506
DEUTSCHE BANK AG\	NEWTEKONE INC	+18.4Kx	-17.2%	31,500,763
CAPTRUST FINANCIAL ADVISORS	TPI COMPOSITES INC	+9643x	-31.3%	30,133,135
Candriam S.C.A.	NKARTA INC	+17.0Kx	-10.1%	17,238,538

The positions funds are most committed to this quarter.

Fund	Stock	Type	Value	Conviction
Blackstone Inc.	TASKUS INC	Increased	$3.7B	100
NMNational Mutual Insurance Federation of Agricultural Cooperatives	iShares Trust CORE S&P500 ETF	Increased	$1.9B	100
Bridgewater Associates, LP	ISHARES TR	Increased	$1B	100
GQG Partners LLC	NVIDIA CORPORATION	Increased	$3.1B	100
LOOMIS SAYLES & CO L P	NVIDIA CORPORATION	Increased	$4.2B	100
THOMA BRAVO, L.P.	N-ABLE INC	New	$621.6M	100
PUBLIC INVESTMENT FUND	LUCID GROUP INC	New	$25.8B	99
LONE PINE CAPITAL LLC	BATH & BODY WORKS INC	New	$1.5B	99
ING GROEP NV	APPLE INC	Increased	$610.3M	99
Bridgewater Associates, LP	VANGUARD INTL EQUITY INDEX F	Increased	$1.2B	99

This quarter's top-ranked fund: TPG Group Holdings (SBS) Advisors, Inc.

TPG Group Holdings (SBS) Advisors, Inc.

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