What you would have gotten by copying the most famous stock portfolios in the world — and why it can only be done honestly for a few of them.
| Portfolio | Return | Period | Filings | Positions | Bought (avg) | worst quarter |
|---|---|---|---|---|---|---|
| Berkshire Hathaway Warren Buffett
13F replica |
199% | 2018-05-15 → 2026-09-23 | 34 | 29 | 98% | 95% |
| S&P 500
SPY, dividends reinvested |
226% | 2018-01-02 → 2026-09-23 | — | — | — | — |
| Nasdaq 100
QQQ, dividends reinvested |
394% | 2018-01-02 → 2026-09-23 | — | — | — | — |
Form 13F-HR is a quarterly list of US-listed stock positions, filed 45 days after the quarter ends. We take each filing, buy those positions at their disclosed weights at the closing price of the day the filing appeared, and hold until the next one. Dividends are reinvested. The same slippage as everything else on this site is charged on each rebalance.
| Weight | ||
|---|---|---|
| AAPL | APPLE INC | 22.0% |
| AXP | AMERICAN EXPRESS CO | 17.1% |
| KO | COCA-COLA CO/THE | 10.9% |
| GOOGL | ALPHABET INC-CL A | 9.4% |
| BAC | BANK OF AMERICA CORP | 9.2% |
| CVX | CHEVRON CORP | 4.7% |
| OXY | OCCIDENTAL PETROLEUM CORP | 4.3% |
| CB | CHUBB LTD | 3.9% |
| MCO | MOODY'S CORP | 3.7% |
| GOOG | ALPHABET INC-CL C | 3.2% |
A replica is only worth publishing if we can actually buy what the filing says. We measure that: the share of each filing's disclosed value that we managed to price and hold. A portfolio we could only buy 70% of is not that manager's portfolio.
Published only when we could buy 93% of the disclosed value on average, and never less than 80% in any quarter.
| Portfolio | Bought | Why not |
|---|---|---|
| Renaissance Technologies | — | About 3,400 positions, the largest ten of which are 12% of the book. A quarterly snapshot of a portfolio that wide says almost nothing about what the firm did. |
| Bridgewater Associates | — | Their US equity book is mostly index ETFs. What they are known for — macro positions in futures, rates and currencies — does not appear in a 13F at all, so copying the 13F copies the part that is not the strategy. |
| Pershing Square Bill Ackman | 91% | 4% could not be identified · 5% has no usable price history |
| Baupost Group Seth Klarman | 70% | 19% could not be identified · 11% has no usable price history |
| Duquesne Family Office Stanley Druckenmiller | 89% | 5% has no usable price history |
| Appaloosa David Tepper | 86% | 4% could not be identified · 3% has no usable price history |
| Tiger Global Chase Coleman | 90% | 6% could not be identified · 4% has no usable price history |
| Third Point Daniel Loeb | 84% | 9% could not be identified · 6% has no usable price history |
| Lone Pine Capital Stephen Mandel (founder) | 92% | 4% could not be identified · 4% has no usable price history |
| Greenlight Capital David Einhorn | 76% | 11% could not be identified · 11% has no usable price history |
| Scion Asset Management Michael Burry | 56% | 30% of the book is options · 5% could not be identified · 9% has no usable price history |
Companies that were bought out or delisted usually have no free price history. Those positions drop out of the replica, and acquisitions are more often good outcomes than bad ones — so what is missing is not missing at random. This is measured above, not corrected for.
| SEC EDGAR Form 13F-HR | 13F-HR |
| Period | 2018-01-01 → |
| Built | 2026-09-25T02:08Z |