Hedge Vision

Institutional & Insider Insights | Investing

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Here’s What Hedge Funds Bought in Q1 2026

-The Mag 7 stock that had the Tiger Cubs jumping ship.
-Druckenmiller’s new bets on e-commerce.
-Leopold Aschenbrenner’s chaotic 13F update.

And much, much more…

https://t.co/2LTMJJmgBP

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Meyer's previous purchase: https://t.co/0Vd78r81bP

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$HOOD Director Meyer Malka buys $20 million of shares, marking the first insider buy in one year.

It's worth noting that Malka indirectly purchased the shares through Bullfrog Capital, where he serves as a Director.

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$HOOD Director Meyer Malka buys $15.1 million of shares, bringing his total over the past week to $35.1 million.

He indirectly purchased the shares through Bullfrog Capital, where he serves as a Director.

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$BTC down 16% over the past month while $SPX up 5%.

Looks like Jane Street wasn't responsible for the downturn after all.

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$DLO Director Will Pruett buys $237,000 of shares, marking the first ever insider purchase of dLocal since the IPO in 2021.

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@humanbeingET @SpoliticusMedia Just an investment vehicle where Malka is the manager

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$HOOD Director Meyer Malka buys $20 million of shares, marking the first insider buy in one year.

It's worth noting that Malka indirectly purchased the shares through Bullfrog Capital, where he serves as a Director.

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@SpoliticusMedia A trust owned by one of Malka’s family members

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Some notes:

-Portfolio at an all-time high.
-Top 10 positions concentration at an all-time high of 88.5%
- $CRWD and $DDOG portfolio weight at all-time highs for my portfolio following a massive month for SaaS stocks.
- $NOW cracked into my top 10 positions for the first time.

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Personal Portfolio
As of May 31, 2026

1. $CRWD 17.3%
2. $MELI 10.6%
3. $DDOG 10.1%
4. $NVDA 9.5%
5. $BABA 8.4%
6. $AMZN 6.6%
7. $CROX 5.5%
8. $MSFT 5.0%
9. $NOW 3.3%
10. $ZS 2.7%

-Top 10 Positions: 88.5%
-Cash Position: 1.7%
-Rest of Portfolio: 9.8%

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Everyone back to liking software now?

Lots of upside left in the tank. $NOW still my favorite at current levels.

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$MELI ​​Director Alejandro Aguzin​ picks up $993,556 of shares.

Total insider buys over the past five years starting to catch up to total sales.

MELI is down by 16.5% YTD.

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$HIMS Director David Wells buys $1.17 million of shares.

This marks the first insider buy since November 2024.

HIMS is down by 29% YTD.

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$CELH CEO John Fieldly buys $248,826 of shares.

President & COO Eric Hanson buys $217,800.

Director Hal Kravitz buys $249,732.

CELH is down by 38% YTD.

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Tiger Cubs Consensus Holdings:

- $TSM, $AMZN, and $GOOGL/ $GOOG tied for first place with an 85.7% consensus rating.

- $TSM had the highest avg. portfolio allocation at 7.69% and led by a wide margin.

-Besides tech, financial stocks also had a strong presence, highlighted by $NU, $COF, and $V.

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@ramen_capital One sector is overbought and the other is oversold, although AI disruption to software won't be as severe as implied by the price drop

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Hot take: Software outperforms semis from here until year end 🤔

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Leopold Aschenbrenner's 13F doesn't tell you much.

Similar to Druckenmiller, Aschenbrenner has a very short average 13F holding period. He took on short options positions in several top AI companies including NVDA, CRWV, AVGO, ASML, and MU. It’s worth pointing out here that the market value of options as reported in 13F filings assumes the value of the underlying shares and not the value of the options themselves.

At the same time, he maintained, increased, or initiated long positions in a variety of AI-related names as well, including SNDK, CRWV, IREN, AMD, TSM, and INTC. As a result, his short options positions could possibly be acting as hedges instead of an outright bearish stance.

Based on Aschenbrenner’s 13F, which doesn’t offer a complete picture of his positioning due to the presence of options, I would say he’s running a fairly aggressive, high-turnover strategy that leans on options to express shorter-term views and manage risk, rather than taking clean directional bets.

It’s difficult to assess his strategy given how recently Situational Awareness was launched, making his 13F less informative to investors compared to more established funds with longer track records and more consistent positioning.

From what is visible, his approach is opportunistic but hard to sustain over longer periods of time. I expect him to eventually pivot back toward more straightforward equity positions, with options playing a supporting role rather than driving the core of the portfolio, similar to how Saudi Arabia’s Public Investment Fund (PIF) divested its options positions in recent quarters.

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0% chance of a rate cut this year, down from 37.6% a month ago

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@alexkoh Thanks Alex 🙏

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Druckenmiller's Q1 13F Portfolio Moves:

Druckenmiller’s tech exposure nearly doubled in Q1 to 18.4% after falling to a multi-year low of 9.43% in the previous quarter. He added new positions in $AVGO $SNDK $TWLO $NET $INTC and many more.

Furthermore, he's still betting heavily on Latin America, with calls on $EWZ as his fourth-largest position on a notional basis. He followed that up with a new position in $YPF, a state-owned Argentine oil and gas company, and $TBBB, a grocery chain in Mexico. At the same time, he sold off 94% of his stake in $MELI.

Druckenmiller has his eyes on other e-commerce leaders across the globe. He doubled his position in $AMZN calls and boosted his $SE position by 16.5%, making it his 11th largest position. On the other hand, he slashed his stake in $CPNG by 60%, although it remains his 18th largest position.

During Q4, Druckenmiller disclosed new stakes in $RSP and $XLF. He completely sold out of both positions during Q1, although RSP calls were his top buy.

$NTRA, a genetic testing company focused on diagnostics for cancer, organ health, and prenatal screening, has been Druckenmiller’s largest position for seven consecutive quarters. NTRA has returned 354% since he first bought shares in Q3 2022.