The Street Ratings) -- Wall Street's brightest investment minds were required to release their holdings at last night's deadline, giving mere mortals insight into their strategies.
Here's a breakdown of the top hedge fund and investment managers, and the winning and losing industries and stocks during the first quarter, the latest for which information is available.
Appaloosa Management, a top-performing hedge fund firm run by David Tepper, cut its bank-stock holdings by 15%. While
(C - Get Report) remains Tepper's top position, he sold nearly 4 million shares in the quarter, while also dumping almost 8 million shares of
Bank of America
(BAC - Get Report).
Paulson & Co., overseen by multibillionaire John Paulson, stuck with the financial sector, remaining a big holder of Citigroup, Bank of America and
(WFC). TheStreet Ratings' model, based on quantitative information, has a "hold" on Bank of America and Citigroup, yet favors Wells Fargo, which is rated "buy."
| Warren Buffett
pushed into insurers, as the trading-oriented hedge fund firm added 2.3 million shares of
, 2 million shares of
and 4 million shares of
. Appaloosa took a new 1.5 million-share position in
(MET - Get Report)
. TheStreet Ratings' model has a "buy" on MetLife, Ace and Chubb, and a "hold" on XL Group.
In the consumer-discretionary sector, Nelson Peltz's
reported a new stake in
, and disclosed in a separate regulatory filing yesterday that it had acquired a 9.7% stake in
. Cohen's SAC Capital announced big increases in holdings of electronics retailer
and more than doubled its position in
bought shares of Best Buy in a new stake totaling 6 million shares. Bill Ackman had a change of tune on
. The notorious activist, who had spent precious time over the past few years lobbying management, dumped nearly 7.4 million shares of the retailer in the quarter through his
Pershing Square Capital Management
. Warren Buffett's
made only one big splash in the quarter, taking a new $60 million position in credit-card company
(MA - Get Report)
| David Einhorn (Greenlight Capital)
(HPQ - Get Report)
is a big favorite among hedge funds. John Paulson put nearly $1 billion of new money into the company, while Tepper's Appaloosa invested almost $500 million. Einhorn's Greenlight Capital took a new stake in
(YHOO - Get Report)
, while also increasing its position in
(MSFT - Get Report)
. TheStreet Ratings' quantitative model agrees with the investments in Hewlett Packard, as the stock is rated a "buy" with a $47.34 target, offering nearly 19% upside from Monday's closing price of $39.80.