It's the most wonderful time of the quarter where we get to see what large investors were buying and selling a couple of months ago.
Yes, I'm talking about SEC 13F filings for institutions like hedge funds and asset managers. And yes, the data is at least 45 days old with the trades occurring anywhere from 6 weeks to 18 weeks ago. But as I've found over many years following investing greats like Steve Mandel of Lone Pine Capital and the Baker Brothers in Biotech, the patterns of accumulation over many quarters show their long-term conviction in a given company or industry. Whale Migration and Elephant Tracks In this way, the movement of Wall Street's "whales" like David Tepper of Appaloosa and "elephants" like BlackRock and Fidelity tell us where money is consistently flowing. In the video that accompanies this article, I look at the 13F ledgers for six stocks, covering three different themes: vaccines, e-commerce, and short-squeeze mania. My first vaccine company is Moderna ( MRNA Quick Quote MRNA - Free Report) , where I was excited to see Baillie Gifford increase their position by 17 million shares in Q4 -- a +236% jump! I imagine that once they saw the strong data for mRNA-1273 in November, and the increased potential for FDA EUA (emergency use authorization), they were bigger buyers of the stock. Then there's Novavax ( NVAX Quick Quote NVAX - Free Report) , which saw a big additional buy from RA Capital, which is run by virologist and biotech investor Peter Kolchinsky, PhD. He added nearly 2.6 million shares in Q4, representing a 216% boost to the position that he initially started in Q2. NVAX shares traded around $120 on average last quarter after launching from $80 to $180 in Q3. So this big "follow on" add by Kolchinsky really shows conviction in the science that only a virologist might see. Baillie and Cathie Are Holding Court While I could do an entire hour on the "who's who" of Biotech investing, I've covered that quite a bit in recent commentaries about ARK Invest and their commitment to CRISPR stocks and genomics companies... How Cathie Put the Wood to Wall Street: TSLA, SQ, ROKU, CRSP, BIDU And speaking of Tesla, the most committed investor besides Elon Musk himself has been those long-term investors from Edinburgh, Baillie Gifford. So I was thrilled to see they remain steadfast in another company I own: Shopify ( SHOP Quick Quote SHOP - Free Report) . In the video, I show the top holders and buyers of SHOP last quarter, where the Scots added just 1.3% to bring their stake to 5.7 million shares. But that makes them #2 behind Fidelity. To learn more about "BG," check out this little piece I did in December... Scottish Warlords of Investing: Baillie Gifford Sells TSLA, Buys TTD, Holds SHOP My second e-comm play with very interesting accumulation is BigCommerce ( BIGC Quick Quote BIGC - Free Report) , which I call the "lil' Shopify." It was great to see two big new positions topping the rolls that appear to be VC firms with dense concentration in just a few "pandemic growth" stocks. One was General Catalyst Group Management who appears to have bought 8.2 million shares of BIGC in Q4. Based out of Cambridge, General Catalyst is a large advisory firm with 24 clients and discretionary assets under management (AUM) of $9,127,840,593, according to WhaleWisdom.com. Their last reported 13F filing for Q4 2020 included $2,924,934,000 in managed 13F securities and a top 10 holdings concentration of 100%. General Catalyst Group Management's largest holding is Teladoc Health Inc with shares held of 8,052,413. Finally in the video, I take a look at who sold GameStop ( GME Quick Quote GME - Free Report) in December before the epic short-squeeze that sent shares from $20 to $400 in January. And I was also surprised to see RA Capital show up again in a little experimental COVID-19 vaccine stock called Vaxart ( VXRT Quick Quote VXRT - Free Report) , which also just had its own short-hunt that sent shares from $10 to $25 in three days. Be sure to watch to get all the details. Disclosure: I own shares of MRNA and VXRT for the Zacks Healthcare Innovators portfolio; and shares of SHOP and BIGC for the Zacks TAZR Trader portfolio.
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