2022 Q2 Smart Money Report
What institutional investors did with their portfolios in 2022 Q2. Data from SEC 13F filings across 551+ tracked funds.
Updated June 30, 2022
Biggest New Positions
Largest fresh entries initiated this quarter by dollar value.
| Fund | Stock | Value | Weight | Conviction |
|---|---|---|---|---|
 MANUFACTURERS LIFE INSURANCE COMPANY, THE | ETETSY INC | $4.4B | +3.1% | 88 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | DADAYFORCE INC | $3.6B | +2.5% | 83 |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE | COCOUPA SOFTWARE INC | $3.4B | +2.4% | 83 |
 Parallax Volatility Advisers, L.P. | COCOINBASE GLOBAL INC | $1.9B | +1.8% | 73 |
| Parallax Volatility Advisers, L.P. | GSGSK PLC | $1.5B | +1.5% | 73 |
 GQG Partners LLC |  ALIBABA GROUP HLDG LTD | $1.4B | +3.3% | 88 |
 Pacer Advisors, Inc. | UNUNITED STATES TREAS BILLS | $1.3B | +9.4% | 98 |
 JANE STREET GROUP, LLC |  ISHARES TR | $1.2B | +0.5% | 62 |
| Parallax Volatility Advisers, L.P. | WIWINNEBAGO INDS INC | $1.2B | +1.2% | 73 |
 Carlyle Group Inc. |  QUIDELORTHO CORP | $1.2B | +20.9% | 100 |
Notable Exits
Positions completely sold this quarter, ranked by previous value.
Top Double-Downs
Funds increasing positions into price weakness - contrarian conviction.
| Fund | Stock | Position Increase | Price Drop | DD Score |
|---|---|---|---|---|
 FEDERATED HERMES, INC. |  HERON THERAPEUTICS INC | +140.0Kx | -44.3% | 620,252,162 |
| Parallax Volatility Advisers, L.P. |  SPDR SERIES TRUST | +371.4Kx | -16.0% | 593,258,272 |
| 1A1832 Asset Management L.P. |  FORTINET INC | +336.2Kx | -16.4% | 551,588,400 |
 LAZARD ASSET MANAGEMENT LLC |  DENTSPLY SIRONA INC | +118.1Kx | -26.3% | 310,342,333 |
| Parallax Volatility Advisers, L.P. |  SELECT SECTOR SPDR TR | +178.3Kx | -16.4% | 292,225,760 |
| Parallax Volatility Advisers, L.P. |  ISHARES INC | +105.3Kx | -22.9% | 241,798,314 |
| Parallax Volatility Advisers, L.P. |  GLOBAL X FDS | +137.1Kx | -14.0% | 191,540,228 |
 MACQUARIE GROUP LTD |  GRAB HOLDINGS LIMITED | +45.6Kx | -28.2% | 128,450,704 |
 CANADA PENSION PLAN INVESTMENT BOARD |  LYFT INC | +18.4Kx | -63.7% | 117,398,862 |
 CAPSTONE INVESTMENT ADVISORS, LLC |  HCA HEALTHCARE INC | +37.9Kx | -30.9% | 117,018,283 |
Highest Conviction Moves
The positions funds are most committed to this quarter.
| Fund | Stock | Type | Value | Conviction |
|---|---|---|---|---|
 LONE PINE CAPITAL LLC |  AMAZON COM INC | Increased | $953.5M | 100 |
 Egerton Capital (UK) LLP |  MASTERCARD INCORPORATED | Increased | $758.4M | 100 |
 JENNISON ASSOCIATES LLC | AMAZON COM INC | Increased | $5.1B | 100 |
| EAEAGLE CAPITAL MANAGEMENT LLC | AMAZON COM INC | Increased | $1.4B | 100 |
| Carlyle Group Inc. | QUIDELORTHO CORP | New | $1.2B | 100 |
 TEACHER RETIREMENT SYSTEM OF TEXAS |  VANGUARD INTL EQUITY INDEX F | Increased | $822.3M | 100 |
 GENERATION INVESTMENT MANAGEMENT LLP | AMAZON COM INC | Increased | $1.2B | 100 |
 Alecta Tjanstepension Omsesidigt | AMAZON COM INC | Increased | $1B | 100 |
| GENERATION INVESTMENT MANAGEMENT LLP |  MICROSOFT CORP | Increased | $1.1B | 100 |
 Fiera Capital Corp |  ALPHABET INC | Increased | $1.9B | 100 |
Best & Worst Trades
Top 5 winners and losers by estimated P&L.
Top Winners
GPAEFSteward Partners Investment Advisory, LLC
WINGBLACKROCK ADVISORS LLC
NVDABLACKROCK ADVISORS LLC
GSIWJANE STREET GROUP, LLCTop Losers
VCIGCITADEL ADVISORS LLC
EVFMPentwater Capital Management LP
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. 73 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