Q1 2026 13F Consensus: TSM Leads the Cross-Fund Overlap Rankings

Seven of the fourteen Tiger Cub funds tracked in Q1 2026 reported a position in Taiwan Semiconductor Manufacturing (TSM), giving it the highest average portfolio allocation among any name they hold in common at 8.85% of their disclosed books. 1 That number is the cross-fund consensus score this channel exists to surface: not which prominent manager bought TSM, but whether a meaningful cluster moved the same direction, with serious capital behind each vote. In Q1 2026, the answer on TSM is yes.

All figures below are derived from SEC Form 13F filings for the quarter ended March 31, 2026. Q1 13F filings were due May 15, 2026 -- 45 days after quarter-end, per SEC rules. As with all 13F data, these are disclosed long-equity positions only. Short positions, derivatives used as hedges, and any holding below the $100M reporting threshold are not captured. The quarter you are reading reflects portfolios as they stood on March 31; what those managers hold today may differ. 2

Consensus adds: what moved together

#1 Taiwan Semiconductor Manufacturing (TSM)

TSM sits at a chokepoint that most AI infrastructure theses eventually circle back to: advanced logic fabrication. The Tiger Cubs' collective 8.85% average weight in TSM is meaningfully higher than NVDA's 5.75% average among the same group -- a gap that suggests this cohort views TSMC's moat as less contested than NVIDIA's. 1

Direction: ADD
Tiger Cub ownership rate: 85.7% (at least 6 of 7 reporting funds)
Avg Tiger Cub allocation: 8.85% of disclosed book
Representative funds adding: Light Street (14.4% position), Druckenmiller (held at 4.96%), Tepper (added), Bridgewater (added)
Filing reference: Druckenmiller 13F filed May 15, 2026 3
Implied thesis: AI compute demand concentrates at the advanced-node fab layer; no credible alternative to TSMC exists at 3nm and below

Whether that thesis holds against geopolitical risk is a separate question the filings cannot answer.

#2 Alphabet (GOOGL/GOOG)

Berkshire Hathaway more than tripled its Alphabet stake to approximately $16.6 billion during Q1 2026, per the filing dated May 15, 2026. 4 Bridgewater added aggressively to an existing position. The Tiger Cubs assigned GOOGL an 85.7% ownership rate, matching TSM. Fisher Asset Management ($294.9B disclosed, filed May 5, 2026) listed GOOGL as a top-5 holding. D.E. Shaw ($126.8B disclosed) reported the same. 5

Direction: ADD
Notable fund movers: Berkshire, Bridgewater, Tiger Cubs (85.7% ownership rate), Fisher, D.E. Shaw
Berkshire total portfolio: $263.1B, 29 holdings (down from 40 -- Greg Abel's first full solo quarter)
Implied thesis: Alphabet is the cash-flow beneficiary of AI deployment rather than a primary infrastructure spender; Search revenue floor plus cloud operating leverage 6

One counterweight: Druckenmiller exited his entire GOOGL position -- a full sale of a ~$120.5M stake -- in the same quarter. 3 That puts GOOGL partially in the split column too.

#3 Broadcom (AVGO)

Broadcom's AVGO drew new buyers from across investment-style categories in Q1. Druckenmiller initiated a $60.6M position (1.80% of his disclosed portfolio). ARK Invest added for custom-ASIC exposure. Bridgewater added as part of its broader AI infrastructure buildup. 6

Direction: ADD / NEW BUY
Representative new buyers: Druckenmiller (new $60.6M, filed May 15, 2026), ARK Invest, Bridgewater, Appaloosa
Implied thesis: Custom silicon (ASICs) emerges as a lower-cost alternative to general-purpose GPUs for large-scale AI inference; Broadcom benefits as hyperscalers (Google, Meta, Apple) design proprietary chips

The convergence of Druckenmiller (high-conviction growth), ARK (disruption-focused), and Bridgewater (macro-oriented) on the same name from three different investment philosophies is the kind of cross-style overlap this ranking is designed to flag. 7

Cargando gráfico…

Tiger Cub average portfolio weight by name, Q1 2026 13F filings. TSM leads at 8.85%, outpacing NVDA (5.75%) and AMZN/GOOGL (4.54% each). 1

Q1 2026 13F filing universe

Key metrics from the quarter ended March 31, 2026 (filings due May 15, 2026)

Total 13F filers

Combined reported value

Most widely held stock

MSFT

Filers holding MSFT

Cargando tarjeta de estadísticas…

Aggregate Q1 2026 13F filing statistics, reported value in trillions USD. 2

Consensus exits: what got trimmed together

The price-stripped read of Q1 2026 is more revealing than the reported value ranking. When The 13F applied capital-flow analysis across 8,741 filers -- separating mark-to-market gains from actual share-count changes -- only one of eleven GICS sectors showed net buying in capital-flow terms. Technology reported a net outflow. 2

NVIDIA (NVDA): roughly $80 billion in net selling across the institutional universe, the single largest capital outflow in the entire filing database. Its reported value barely moved because the stock price rose approximately 10% -- a gap that conceals the underlying supply. Baillie Gifford trimmed NVDA despite it remaining their top holding. Tepper reduced. The institutional universe sold into strength at scale. 2

Tesla (TSLA): roughly $46 billion in net selling against an 18% price gain. Aggregate institutional flow here is unambiguous.

Microsoft (MSFT): most widely held name across all 8,741 filers at 6,132 filers -- but Tiger Cubs reduced their stakes as a cohort during Q1. MSFT remains a 57.1% consensus holding among the Tiger Cubs; the direction shifted from accumulation to trimming. 1

Where the smart money disagrees

Amazon (AMZN) is the sharpest divergence of the quarter. Berkshire exited its entire AMZN position. 6 Simultaneously, Bridgewater added aggressively, and Appaloosa's David Tepper made AMZN his top position, displacing Alibaba after three consecutive quarters. Tiger Cubs assigned AMZN an 85.7% ownership rate -- equal to TSM. Same stock, radically different verdicts. Abel's Berkshire apparently reading AWS and ad revenue as extended; Tepper and Bridgewater reading AI cloud infrastructure spending as a durable compounder.

Alphabet (GOOGL) also splits the room, though less severely. The Berkshire/Bridgewater/Tiger Cub buy-side is the majority view; Druckenmiller's full exit is the outlier. His simultaneous bets on Broadcom and e-commerce names suggest a rotation within tech rather than an exit from it -- but the Alphabet-specific verdict diverges from the consensus.

NVIDIA (NVDA) runs both ways: roughly $80B in net institutional selling, but Bridgewater maintained and added to its NVDA position, and several managers held conviction against the directional tide. The majority signal is "trim into strength"; a meaningful minority disagrees.

What the filings cannot tell you

These filings report where managers stood on March 31, 2026. The structural 45-day lag means no 13F captures moves made between March 31 and the May 15 deadline, let alone anything since. Druckenmiller's average holding period across his 13F positions is 2.7 quarters; what his portfolio looks like today may differ substantially from the May disclosure. 3

No 13F captures short positions, options in their net market-value terms, or any holding below the $100M threshold. The overlap score above -- the number of distinct funds that moved the same direction -- is signal, not instruction. Herd behavior identified in hindsight is not a momentum trade. Several of the most crowded long positions in prior cycles became the most crowded exits the following quarter.

The cross-fund agreement captured here is evidence that informed managers found similar reasons to act; it says nothing about whether those reasons remain valid.

This is informational only and does not constitute investment advice. All figures are from publicly disclosed SEC 13F-HR filings for the quarter ended March 31, 2026.