2026 Q1 Smart Money Report

Largest fresh entries initiated this quarter by dollar value.

Fund	Stock	Value	Weight	Conviction
VAVANGUARD CAPITAL MANAGEMENT LLC	NVIDIA CORP	$268.3B	+6.6%	98
VAVANGUARD CAPITAL MANAGEMENT LLC	APPLE INC	$242.1B	+6.0%	98
VAVANGUARD CAPITAL MANAGEMENT LLC	MICROSOFT CORP	$178.6B	+4.4%	88
VAVANGUARD CAPITAL MANAGEMENT LLC	AMAZON.COM INC	$131.5B	+3.3%	88
VAVANGUARD CAPITAL MANAGEMENT LLC	ALPHABET INC-CL A	$108.8B	+2.7%	83
VAVANGUARD CAPITAL MANAGEMENT LLC	BROADCOM INC	$95.3B	+2.4%	83
VPVANGUARD PORTFOLIO MANAGEMENT LLC	NVIDIA CORP	$89B	+4.6%	88
VAVANGUARD CAPITAL MANAGEMENT LLC	ALPHABET INC-CL C	$86.7B	+2.1%	83
VPVANGUARD PORTFOLIO MANAGEMENT LLC	APPLE INC	$84.1B	+4.4%	88
VAVANGUARD CAPITAL MANAGEMENT LLC	META PLATFORMS INC-CLASS A	$81.3B	+2.0%	83

Positions completely sold this quarter, ranked by previous value.

Fund	Stock	Previous Value
PRICE T ROWE ASSOCIATES INC /MD/	ASTRAZENECA PLC	$4.5B
GATES FOUNDATION TRUST	MICROSOFT CORP	$3.7B
PRIMECAP MANAGEMENT CO/CA/	ASTRAZENECA PLC	$3.4B
Capital World Investors	SYNOPSYS INC	$3.1B
BERKSHIRE HATHAWAY INC	VISA INC-CLASS A SHARES	$2.9B
MWMARSHALL WACE, LLP	VANGUARD S&P 500 ETF	$2.9B
Apollo Management Holdings, L.P.	ASPEN INSURANCE HOLDINGS LTD	$2.8B
BANK OF AMERICA CORP /DE/	ASTRAZENECA PLC	$2.4B
BERKSHIRE HATHAWAY INC	MASTERCARD INC - A	$2.3B
WELLINGTON MANAGEMENT GROUP LLP	ASTRAZENECA PLC	$2.1B

Funds increasing positions into price weakness - contrarian conviction.

Fund	Stock	Position Increase	Price Drop	DD Score
BANK OF AMERICA CORP /DE/	U Power Limited	+1.3Mx	-15.6%	2,075,862,500
Parallax Volatility Advisers, L.P.	FINANCIAL SELECT SECTOR SPDR	+2.1Mx	-7.2%	1,498,339,011
Walleye Capital LLC	JUMIA TECHNOLOGIES AG	+254.1Kx	-38.0%	966,728,151
Walleye Capital LLC	HAPPEN INC	+315.3Kx	-22.9%	720,380,062
Walleye Capital LLC	FIVERR INTL LTD	+134.0Kx	-45.8%	613,332,542
MORGAN STANLEY	PROSHARES SHORT MSCI EMERGING MARKETS	+580.2Kx	-5.9%	344,707,888
CITIGROUP INC	CXAPP INC	+52.8Kx	-45.5%	240,276,476
Walleye Capital LLC	ZOOM COMMUNICATIONS INC	+152.0Kx	-14.8%	225,492,097
UBS Group AG	GT BIOPHARMA INC	+46.0Kx	-42.0%	192,956,296
MORGAN STANLEY	PROSHARES TR	+698.2Kx	-2.7%	187,946,239

The positions funds are most committed to this quarter.

Fund	Stock	Type	Value	Conviction
WPWINDACRE PARTNERSHIP LLC	ROPER INDUSTRIES INC	Increased	$2.7B	100
Brevan Howard Capital Management LP	ISHARES BITCOIN TRUST	Increased	$933.8M	100
ExodusPoint Capital Management, LP	TESLA INC	Increased	$1.8B	100
Egerton Capital (UK) LLP	ALPHABET INC-CL C	Increased	$992.4M	100
TEXAS PERMANENT SCHOOL FUND CORP	SSGA ACTIVE TR	New	$743M	100
H&H International Investment, LLC	NVIDIA CORP	Increased	$2.4B	100
H&H International Investment, LLC	TESLA INC	New	$1.3B	100
Pershing Square Capital Management, L.P.	MICROSOFT CORP	New	$2.1B	100
PEPentwater Capital Management LP	AVIS BUDGET GROUP INC	Increased	$1B	100
TD Waterhouse Canada Inc.	ROYAL BANK OF CANADA	Increased	$1.9B	100

This quarter's top-ranked fund: PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO

PUBLIC EMPLOYEES RETIREMENT SYSTEM OF OHIO

Top 5 winners and losers by estimated P&L.

Top Winners

GPAEFSteward Partners Investment Advisory, LLC

+510x

QNCXVANGUARD CAPITAL MANAGEMENT LLC

+312x

QNCXMariner, LLC

+312x

QNCXVanguard Personalized Indexing Management, LLC

+312x

QNCXROYAL BANK OF CANADA

+312x

Top Losers

FRCBAmundi

-100.0%

NVVESIMPLEX TRADING, LLC

-100.0%

QCQCLSCandriam S.C.A.

-100.0%

EVFMBeacon Pointe Advisors, LLC

-100.0%

FRCBSchonfeld Strategic Advisors LLC

-100.0%

Stocks where members of Congress AND institutional investors both bought — disclosed in Q2 2026. 10 stocks overlapped this quarter.

Stock	Congress	Funds
DVNDEVON ENERGY CORP	1 members	268 funds
TSLATESLA INC	1 members	229 funds
KVUEKENVUE INC	1 members	158 funds
SPGSIMON PROPERTY GROUP INC	1 members	156 funds
COOCOOPER COS INC/THE	1 members	150 funds
SPHRSPHERE ENTERTAINMENT CO	1 members	105 funds
TCBITEXAS CAPITAL BANCSHARES INC	1 members	104 funds
QNTQUANTINUUM INC	1 members	90 funds
MTNVAIL RESORTS INC	1 members	88 funds
FOURSHIFT4 PAYMENTS INC-CLASS A	1 members	70 funds