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Q2 2026 13F season: real accumulation converges on Alphabet, SpaceX, Cerebras, and Micron, while insiders keep selling
2026-W34 · 2026-08-20
23
Filings cited
40,498
Shares sold
$20.0M
230
Institutional events
This week's fetch pulled the Q2 2026 institutional 13F season in full — nearly 400 events, the large majority of them filings due by the Aug 14 deadline. Underneath the volume, several genuine convergence stories stand out: Alphabet drew its broadest institutional buying since we started tracking (Berkshire +36%, Coatue +89%, two new entrants), while SpaceX and Cerebras Systems each picked up three-to-four independent new institutional backers in the same quarter — rare for names that don't typically overlap across these managers' books. Micron saw the single largest proportional scale-up (Coatue, roughly 16x), and GE Vernova and TSMC both drew net accumulation from multiple managers. Not everything points one way: Broadcom split sharply between a doubled-down Coatue and a fully-exited Altimeter, and a large share of this week's headline dollar figures in Apple, Coca-Cola, American Express, and Moody's turn out to be Berkshire's unchanged legacy stakes re-appearing under a new filing rather than fresh conviction — we flag that explicitly below so it isn't read as new buying. On the insider side, all 21 transactions filed this week are sales and none are purchases; most are 10b5-1 plan sales, though AMD's Paul Darren Grasby and Microsoft's Judson Althoff both sold outside a plan.
Alphabet draws its broadest institutional buying since tracking began strong
Berkshire Hathaway's Q2 2026 13F (filed Aug 14) shows its Alphabet stake at 78.77M shares, up from 57.82M disclosed for Q1 — a roughly 36% increase. Coatue nearly doubled its own position, from 2.73M to 5.16M shares (+89%), and two new entrants joined the register this quarter: Tiger Global opened a $2.07B stake (5.81M shares) and Baupost a smaller one. TCI Fund Management and Fundsmith moved the other way, trimming their GOOGL holdings by roughly 12% and 40% respectively. Net effect: more capital and more independent allocators are positioned in Alphabet this quarter than in Q1, even with two funds cutting back.
Four independent funds disclose new SpaceX stakes in the same quarter strong
Coatue, Altimeter, Appaloosa, and Tiger Global all opened brand-new SpaceX positions in their Q2 2026 13Fs, filed Aug 14–17: Coatue by far the largest at roughly $3.17B across eight reporting lines (11.46M of 18.56M total shares disclosed), Altimeter $303.5M (1.78M shares), Tiger Global $64.1M, and Appaloosa $38.4M. SpaceX is privately held, so a 13F appearance typically reflects secondary-market share purchases rather than open-market trading — four unrelated allocators taking positions in the same quarter is a real convergence signal on a name that is otherwise opaque to public markets.
Cerebras Systems picks up three new institutional backers strong
Cerebras Systems, the AI chip startup, picked up three new institutional 13F disclosures this quarter worth roughly $3.81B combined: Altimeter's single-line $1.60B stake (7.23M shares) is the largest, followed by Coatue's $1.55B position split across eight reporting lines, and Tiger Global's $662.8M stake. All three are first appearances for Cerebras in our tracking — like SpaceX, a straight three-way convergence from managers that don't typically overlap on the same name in the same quarter.
Coatue scales its Micron stake roughly 16-fold strong
Coatue's Q2 13F shows its Micron stake growing from 165,931 shares (Q1, filed May) to 2.78M shares — a roughly 16-fold increase, the largest proportional scale-up of any position in this week's filings. Altimeter opened a new $241.8M stake alongside it. Appaloosa moved the other way, trimming its MU position from 1.67M to 975K shares (-41%). The divergence between managers here is real: one fund made memory chips its highest-conviction add of the quarter, another cut by more than a third.
GE Vernova draws fresh commitments from three managers on the power-buildout theme strong
Coatue nearly doubled its GE Vernova stake this quarter, from 1.32M to 2.49M shares (+89%), while two new entrants opened fresh positions: Fundsmith ($481.5M, 409,835 shares) and Tiger Global ($937.0M, 797,511 shares). GE Vernova sits in the power-generation and grid-equipment layer that AI data-centre buildout depends on, and three independent allocators adding or opening positions in the same quarter reads as a bet on that buildout continuing.
TSMC draws net accumulation from three of four holders strong
Taiwan Semiconductor drew net accumulation from three of four holders this quarter: Coatue added 42% (5.83M to 8.31M shares), Appaloosa added 24% (1.33M to 1.65M shares), and Fundsmith opened a new $548.5M stake. Tiger Global was the outlier, trimming its TSM position 12% (5.57M to 4.88M shares). With the world's dominant advanced-node foundry drawing fresh or larger commitments from three separate managers in the same quarter, this reads as continued conviction in the chip-manufacturing chokepoint of the AI buildout.
Meta draws sharp institutional buying even as executives keep selling on schedule strong
Coatue nearly tripled its Meta stake this quarter, from 669K to 1.82M shares (+172%), and Appaloosa added 55% (436.5K to 675K shares). Altimeter and Fundsmith both opened new positions worth $763.3M and $592.5M respectively. The juxtaposition is worth noting: four allocators building or growing Meta stakes in the same quarter that Meta's CFO, COO, and a board member were all filing insider sales — though those sales are small relative to insider holdings and mostly plan-based (see the insider-selling recap below).
Chip-equipment makers split: a clean add in Applied Materials, a mixed picture in Lam Research moderate
The chip-equipment makers split this quarter. Applied Materials drew a clean add: Coatue's stake grew 25% (3.15M to 3.93M shares) and Altimeter opened a new $189.4M position. Lam Research was more mixed — Coatue trimmed 11% (5.24M to 4.64M shares) even as Altimeter and Tiger Global both opened new stakes ($170.8M and $1.37B respectively). Net new money is flowing into the equipment layer, but not uniformly across managers or names.
Broadcom gets a split verdict: one manager doubles down, another exits entirely moderate
Broadcom's Q2 register shows a genuine split verdict. Coatue more than doubled its position, from 2.42M to 5.41M shares (+123%), and Appaloosa opened a new small stake. But Altimeter fully exited (its 67,094-share position went to zero) and Tiger Global cut its stake roughly in half (3.58M to 1.75M shares, -51%). One manager's highest-conviction add of the quarter is another's full exit — worth watching rather than reading as one-directional.
Berkshire trims Bank of America; its Apple, Coca-Cola, Amex, and Moody's stakes are unchanged moderate
Berkshire's Q2 13F (filed Aug 14) trims Bank of America by roughly 5.9% — from 509.7M to 479.5M shares — continuing a multi-quarter drawdown. Separately, several of Berkshire's other Q2 filings report exactly the same share counts as Q1 across every reporting line for Apple, Coca-Cola, American Express, and Moody's: these appear in our data as fresh filings because Berkshire splits its 13F across multiple internal manager sub-accounts each quarter, but the underlying position sizes have not moved at all. Worth flagging so a re-filed static position isn't mistaken for new conviction.
Insider tape is one-sided again: 21 sales, zero buys weak
All 21 insider transactions filed this week are sales, with zero purchases across the watchlist. Microsoft EVP Judson Althoff sold $4.88M and Meta CFO Susan Li sold $1.47M, neither flagged as 10b5-1; AMD's Paul Darren Grasby sold $7.72M, also without a plan flag — the single largest discretionary insider sale of the week. The rest — Meta COO Javier Olivan (~$1.02M across nine lines), Meta director Marc Andreessen (~$251K across four lines), Amazon's Douglas Herrington (~$983K across three lines), and AMD's Mark Papermaster ($3.59M) and Ava Hahn ($67.9K) — are all explicit 10b5-1 plan sales. Combined, roughly $19.98M of insider selling this week and no offsetting purchase from any watched actor.
semiconductors — The Q2 13F season shows broad, if uneven, accumulation across the chip stack: Micron drew a roughly 16x increase from Coatue, TSMC picked up net adds from three of four holders, and Applied Materials/Lam Research split between a clean add and a mixed picture. Broadcom is the clearest divergence — one manager doubling down while another exited entirely.
ai_infrastructure — Two of the quarter's most striking convergence stories sit outside the traditional public semiconductor names: SpaceX and Cerebras Systems, both privately held or thinly public, each picked up three-to-four independent institutional stakes this quarter worth a combined roughly $7.4B — a notable amount of capital flowing into names that are harder for public-market investors to access directly.
energy — GE Vernova drew fresh or larger commitments from three managers this quarter (Coatue, Fundsmith, Tiger Global) — a bet on the power-generation and grid buildout that AI data-centre capacity depends on, rather than on energy names generally.
financials — The sector's headline dollar figure this quarter is misleading: most of it is Berkshire's Apple, Coca-Cola, American Express, and Moody's stakes re-appearing in this quarter's filing with unchanged share counts. The one real move is Berkshire trimming Bank of America by roughly 6%, continuing a multi-quarter drawdown.