Big Trades

What the most-watched money managers are doing, and how the biggest hedge funds have actually performed. Live 13F and 13D/G filings from SEC EDGAR with each manager’s latest buys and sells, a read on their posture, and the track records of the most famous funds against the S&P 500.

Latest SEC filings

What these filings mean

Filed	Trades as of	Manager	Form	What it is	Bought	Sold

Current posture, manager by managerCurated

The publicly-known posture and most recent notable moves of today’s biggest active investors, compiled from their filings, shareholder letters and interviews.

Filings load live from SEC EDGAR (each manager’s public submissions feed) and link to the original documents; 13F positions are disclosed up to 45 days after quarter-end, so even "live" filings describe last quarter’s book. Bought / Sold compares the two most recent quarterly snapshots (equity positions only), so it shows net quarter-over-quarter changes: a position bought and sold within the same quarter never appears. Posture cards are editorial summaries of public statements, not filings data. Not investment advice.

Hedge fund track records: funds with disclosed returns

Since-inception annualized return vs S&P 500vs ~10.5%/yr

Legendary & now-private fundsReference

These managers are too secretive, closed, or converted to family offices to publish reliable year-by-year returns. Shown as historical profiles, not in the table above.

About these numbers. Hedge funds aren't required to disclose returns, so everything here except Pershing Square (publicly listed, audited NAV) is compiled from press reporting: LCH Investments annual manager rankings (via the Financial Times / Institutional Investor), Bloomberg, CNBC, Reuters, Hedgeweek, fund investor letters, and Gregory Zuckerman's The Man Who Solved the Market for Renaissance. AUM and returns are point-in-time, approximate and may be revised. Trailing periods (1Y to 20Y) are annualized through calendar 2025, not live, so a brokerage quote will differ: Pershing Square rows are fund NAV performance, while the listed shares (PSH / PSHZF) trade daily at a discount to NAV and reflect the current year's moves. "n/d" = not disclosed; "Beats S&P?" compares since-inception annualized return to the S&P 500's long-run ~10.5%/yr total return. Not investment advice.

About this page

What the famous fund managers are actually buying and selling: the latest 13F and 13D/G filings of Buffett, Ackman, Dalio, Burry and the other most-watched investors, pulled live from SEC EDGAR, with recent additions and exits per manager and the date each snapshot describes.

Know the limits before copying anyone: 13Fs appear up to 45 days after each quarter ends, show only US long positions, and omit the shorts and hedges that may be the other half of the trade. The filings are a window into positioning, not a subscription to a legend's brain.

Below the filings sit the track records of the biggest names in hedge funds, from Griffin and Simons to Dalio, Ackman and Soros: trailing and since-inception annualized returns, assets under management, and whether each has actually beaten the S&P 500. The scoreboard doubles as a lesson in survivorship: after 2-and-20 fees the average hedge fund has trailed a plain index fund for two decades, which makes the few genuine long-run outperformers all the more remarkable.

Frequently asked questions

What is a 13F filing?

A quarterly SEC disclosure required of institutions managing over $100 million, listing their US-listed long positions. It is the standard public window into what big investors hold.

What is the difference between 13D and 13G?

Both disclose stakes above 5% of a company. A 13D signals activist intent to influence management; a 13G declares a passive stake. A switch from G to D is often the opening move of a campaign.

Can I profit by copying Buffett's trades?

Studies of Berkshire cloning suggest that following disclosed buys has historically worked better than for most managers, because his holding periods are long enough that the 45-day lag matters little. For fast-trading funds, the lag destroys most of the value.

Do hedge funds beat the market?

On average, no, especially after fees; index funds have outrun the average fund for 20 years. A small tail of managers shows persistent skill, but identifying them in advance and getting access are both notoriously hard.

What does 2-and-20 mean?

The traditional fee model: 2% of assets annually plus 20% of profits. Compounded over decades it transfers a startling share of gross returns from investors to managers, which is the core of the index-fund argument.