Quarterly written form 13FS provides valuable insights into the stocks Wall Street’s smartest asset managers are buying and selling.
Billionaire Dan Loeb kicked Tesla stock to the curb in the March quarter — probably more than just profit.
Meanwhile, Loeb added 1.45 million shares of a soaring company that is reshaping the AI revolution.
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If there is one thing that will never be lacking on Wall Street, then data. Attempts to digest the attacks of quarterly earnings reports and near-daily economic data can sometimes be overwhelming. This also makes it easy for something important to fall into the cracks.
For example, an argument can be made that the 45 calendar days after the end of the final period to the end of the quarter can be as important as the income season. 13F is the document required by institutional investors, with at least $100 million in assets under management (AUM) detailing the trading activities of the previous quarter.
While 13F is far from perfect – snapshots of positive hedge funds are often stale, they can have insights into stocks and trends that attract interest from leading Wall Street currency managers. When I say “leading currency manager”, I'm talking about more than just billionaire Warren Buffett.
Image source: Getty Images.
For example, Dan Loeb, the head of the billionaire at point 3, correctly won himself the following awards. Loeb oversees over $6.5 billion in AUM and demonstrates a knack for generating profits from small and large growth stocks.
Loeb's trading activities in the March quarter were particularly interesting. Although he added 11 new positions (10 of them held in individual stocks) and completely withdrew from nine shares, this is his approach compared to two of Wall Street’s two most influential businesses.
Perhaps the biggest surprise of the third point 13F is all 500,000 shares of North America's leading electric vehicle (EV) manufacturer Tesla(NASDAQ: TSLA) The door was displayed.
Interestingly, Loeb launched his fund's position at Tesla sometime in the third quarter of 2024. This is when Tesla CEO Elon Musk is increasing his support for the candidate Donald Trump at that time. Assuming that if Trump is to win the presidency, Tesla is expected to be positive. Tesla stock effectively doubled after Trump's November victory.
Therefore, Loeb's first quarter exports may represent only a good trade, which is facilitated by political puzzles. As the average security of the third-point portfolio lasted for more than 13 months, Dan Loeb showed a willingness to lock in earnings.
But the reality is that other factors played a role in sending Tesla’s stock to the chopping block in the March quarter.
For beginners, Tesla's electric vehicle division has poor performance and its vehicle profit margin lasted for two years. Musk previously pointed out that his company's electric vehicle pricing policy is determined by demand. With competition intensifying and Tesla's inventory climbing, it has no choice but to be more aggressive with its pricing. Tesla has a large operating margin, with more than six lower prices.
Another problem with Tesla is the quality of its revenue. Although it has been profitable for five consecutive years, a large portion of its pre-tax revenue comes from unsustainable sources, such as regulatory tax credits and interest income for its cash. Trump's new tax and spending law, a big, beautiful bill that will eliminate these regulatory credits from Tesla in the United States
Dan Loeb's withdrawal from Tesla may also be affected by the headwind created by Elon Musk. Despite expanding its company's revenue streams to include energy generation and storage, Musk's revenue streams have a lengthy record of over-accumulation and inadequate records. The disappointing Seberak sale was a Taming Robotaxi launch in Austin, Texas, and a promise of a Level 5 Autonomy promise not achieved over a decade suggests that Tesla's stock can only be based on false promises.
Finally, there is no room for error in Tesla's valuation. Even though it is expected to stagnate in 2025, Musk's company is still commanding an inexplicable forward rate of return of 105.
Image source: Getty Images.
On the other side is the stock of billionaire Dan Loeb, including dividend payments, which have soared more than 420,000% since its initial public offering (IPO) in January 1999. The third point 13F shows that Loeb scalded 1,450,000 shares. Nvidia(NASDAQ: NVDA) In the March quarter, it was only the second time he owned a stake in Wall Street’s artificial intelligence (AI) darling.
NVIDIA has not become Wall Street's largest publicly traded company, nor is it north of its $3.5 trillion market cap since the end of 2022. It accomplished this feat thanks to its various competitive advantages.
NVIDIA's sales growth – reported full-year sales of $27 billion for fiscal 2023 (as of January 2023) and estimated full-year sales of $200 billion (as of January 2026) – reflects its graphics processing units (GPUs) dominance in enterprise data. The demand for hopper and successor Blackwell GPU architecture remains a backlog.
Despite the best efforts Taiwan Semiconductor Manufacturing To rapidly expand its capabilities on the underlying chip chips, demand for AI-GPUs continues to overwhelm its supply. This allows NVIDIA to sell more AI-GPUs each year and can also charge a significant premium for its chips relative to external competitors. The scarcity of AI-GPUs has increased Nvidia's gross margin to a peak of 78.4% a year ago.
Wall Street also rewards Nvidia for its continued investment in innovation. CEO Jensen Huang attempts to bring new Ai-Advanced Chip to market every year, after which Blackwell will be Blackwell Ultra (2025), Vera Rubin (2026) and Vera Rubin Ultra (2027) last year, if all goes as planned. A new chip is introduced every year, almost ensuring that NVIDIA's hardware will retain its computing advantages.
NVIDIA's first quarter drowsy may be another factor in attracting the third point billionaire investors. In addition to general stock market weakness caused by Trump's tariffs and trade policies, NVIDIA shares swung in January after issuing the R1 big language model chatbot based in China. DeepSeek's chatbots allegedly use cheaper and less powerful Nvidia chips. These brief NVIDIA stock declines reduce their forward-looking earnings multiples and give Loeb a chance.
But despite its success, NVIDIA stocks may still have bubbles. According to what history tells us, for more than three decades, no temporary technology has avoided the event of bubble burning. AI will mature as a technology that will expose Nvidia to the possibility of AI bubble bursting.
Aside from Trump’s tariffs and trade policies, another major problem with NVIDIA is the inevitable ramp of competition it will face. In particular, many of its largest customers have internally developed AI chips for use in their data centers based on net sales. Even if the hardware does not have the risk of external competition with NVIDIA's AI-GPUs, it could cost Wall Street's AI Darling's future valuable data center space, reducing AI-GPU scarcity and delaying upgrade cycles.
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Sean Williams has no position in any of the stocks mentioned. Motley fools in the position and recommends Nvidia, Taiwan Semiconductor Manufacturing and Tesla. Motley Fool has a disclosure policy.
The third point billionaire Dan Loeb sold all his shares in Tesla, while the stock climbed over 420,000% as its IPO was originally published by Motley Fool
