Fresh money · Q4 2025
New positions from the best investors
Every brand-new position opened this quarter across 30 tracked superinvestors, ranked by a combined signal: position % × manager quality × (1 + ConvictionScore/100). Fresh money with size and consensus behind it sits at the top.
94 new positions this quarter · top 50 shown · Dataroma lists new buys chronologically, HoldLens ranks them.
#1 · Baupost Group
QSR
Restaurant Brands International
10.4% position·+4
#2 · Pershing Square Capital
META
Meta Platforms
11.4% position·−4
#3 · Baupost Group
AMZN
Amazon
9.3% position·−13
Top 50 new positions, ranked
Filed Q4 2025
| # | Ticker | Manager | Position | Score | Combined |
|---|---|---|---|---|---|
| 1 | QSR Restaurant Brands International | Baupost Group★ | 10.4% | +4 | 97.3 |
| 2 | META Meta Platforms | Pershing Square Capital | 11.4% | −4 | 91.2 |
| 3 | AMZN Amazon | Baupost Group★ | 9.3% | −13 | 83.7 |
| 4 |  WTWWTW | Baupost Group★ | 8.5% | −8 | 76.5 |
| 5 |  ELVELV | Baupost Group★ | 8.4% | −6 | 75.6 |
| 6 |  UNPUNP | Baupost Group★ | 7.1% | −4 | 63.9 |
| 7 |  WCCWCC | Baupost Group★ | 6.6% | −4 | 59.4 |
| 8 |  SCHWCharles Schwab | Egerton Capital★ | 4.7% | +26 | 53.3 |
| 9 |  FNFFidelity National Financial | Baupost Group★ | 5.7% | −5 | 51.3 |
| 10 |  DGDG | Baupost Group★ | 5.2% | −4 | 46.8 |
| 11 |  FERGFERG | Baupost Group★ | 4.8% | −8 | 43.2 |
| 12 |  LBTYKLiberty Global Class C | Baupost Group★ | 4.8% | −4 | 43.2 |
| 13 |  ASMLASML | Lone Pine Capital★ | 4.8% | −1 | 43.2 |
| 14 |  UBERUber | Appaloosa Management★ | 4.1% | +13 | 41.7 |
| 15 |  DASHDASH | Lone Pine Capital★ | 4.2% | −3 | 37.8 |
| 16 |  CBChubb | Wedgewood Partners★ | 3.4% | +20 | 36.7 |
| 17 |  ENPHEnphase Energy | ValueAct Capital | 4.2% | −1 | 33.6 |
| 18 |  SPOTSpotify | Tiger Global Management | 4.1% | −8 | 32.8 |
| 19 |  CRSCRS | Lone Pine Capital★ | 3.0% | −8 | 27.0 |
| 20 |  FTNTFortinet | Lone Pine Capital★ | 2.8% | −3 | 25.2 |
| 21 |  FEFirstEnergy | Baupost Group★ | 2.8% | −11 | 25.2 |
| 22 | AMZN Amazon | Wedgewood Partners★ | 2.6% | −13 | 23.4 |
| 23 |  THCTHC | Lone Pine Capital★ | 2.6% | −5 | 23.4 |
| 24 |  CRHCRH | Baupost Group★ | 2.5% | −1 | 22.5 |
| 25 |  HLFHLF | Baupost Group★ | 2.3% | −11 | 20.7 |
| 26 |  CMGChipotle Mexican Grill | Maverick Capital | 2.4% | +4 | 20.0 |
| 27 |  MOHMOH | Baupost Group★ | 2.1% | +3 | 19.5 |
| 28 |  CEGCEG | Maverick Capital | 2.3% | −8 | 18.4 |
| 29 |  BABAAlibaba | Maverick Capital | 1.7% | +33 | 18.1 |
| 30 |  GOOGLAlphabet | Viking Global Investors | 2.2% | −22 | 17.6 |
| 31 |  ENTGENTG | Lone Pine Capital★ | 1.9% | −2 | 17.1 |
| 32 |  ICEIntercontinental Exchange | Viking Global Investors | 2.1% | 0 | 16.8 |
| 33 |  IONQIONQ | Polen Capital Management | 2.0% | +2 | 16.3 |
| 34 |  ALCOAALCOA | Duquesne Family Office★ | 1.6% | +6 | 15.3 |
| 35 | AMZN Amazon | Viking Global Investors | 1.9% | −13 | 15.2 |
| 36 | ENTG ENTG | Duquesne Family Office★ | 1.6% | −2 | 14.4 |
| 37 |  APIAPI | Maverick Capital | 1.6% | −9 | 12.8 |
| 38 |  CROCSCROCS | Himalaya Capital | 1.5% | −1 | 12.0 |
| 39 |  IVVIVV | Wedgewood Partners★ | 1.1% | 0 | 9.9 |
| 40 |  TMOTMO | Viking Global Investors | 1.2% | −12 | 9.6 |
| 41 |  DELLDELL | Duquesne Family Office★ | 1.0% | +2 | 9.2 |
| 42 |  BALLBALL | Appaloosa Management★ | 0.9% | +3 | 8.3 |
| 43 |  FNDFND | Berkshire Hathaway★ | 0.8% | −9 | 8.0 |
| 44 |  UNHUnitedHealth | Viking Global Investors | 1.0% | −4 | 8.0 |
| 45 | CB Chubb | Viking Global Investors | 0.8% | +20 | 7.7 |
| 46 |  TWTW | Viking Global Investors | 0.8% | +2 | 6.5 |
| 47 |  PGRPGR | Viking Global Investors | 0.8% | −4 | 6.4 |
| 48 | SPOT Spotify | Maverick Capital | 0.8% | −8 | 6.4 |
| 49 | PGR PGR | Maverick Capital | 0.7% | −4 | 5.6 |
| 50 |  LPLALPLA | Cantillon Capital Management | 0.7% | −6 | 5.6 |
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Where fresh money went, by sector
Other
66
Technology
9
Financials
7
Consumer Discretionary
4
Communication
4
Industrials
1
Utilities
1
Healthcare
1
Real Estate
1
Busiest managers — most new positions
1Seth Klarman
142Joel Greenblatt
123Stephen Mandel
114Andreas Halvorsen
115Stanley Druckenmiller
9Managers rotating hardest this quarter. Cross-reference with /leaderboard to see whose new bets tend to work out.
Why this beats Dataroma
- Dataroma lists new buys chronologically, one manager at a time.
- HoldLens ranks every new position by size × quality × conviction so the bets that matter float to the top.
- Sector breakdown + busiest-managers panel show where fresh money is concentrating — the early signal that starts sector rotations.
- Every row cross-links to the full ConvictionScore breakdown on
/signal/[ticker].
Trade with the smartest money
New positions are the freshest signal. For the full conviction story start with Best stocks now, Big bets, and Sector rotation.