Last updated: 10 August 2026
We follow the public regulatory filings of thirty investors. This page names all thirty and says why each one is on the list. What we actually read is published as it comes in, on two open pages linked at the foot of this page, so that anyone can check our reading against the original filings.
Tracking somebody is not endorsing them, and it is certainly not advice. Nothing on this page or in the tracker is a recommendation to buy or sell anything. That a person appears here does not mean we hold what they hold, that we think you should, or that we think they are right. Several of them disagree with each other, and at least one is on the list precisely because he is having a difficult few years.
These filings are old news by the time anyone sees them. A quarterly holdings report reaches the public up to 45 days after the quarter it describes. A position can be opened and closed entirely between the date a filing covers and the date you read it. Treat every number in the tracker as history rather than as news.
This is not where our companies come from. Which companies appear in an issue is settled by the tests set out in our Methodology, applied to current market data, and by nothing else. The tracker is background reading for the longer company write ups: when a business has already passed those tests, it is worth knowing whether patient investors have owned it for years, and equally worth knowing when none of them will touch it.
The filings are public and free, and they come from the United States Securities and Exchange Commission. They are not equivalent to the daily bulk and block deal disclosures Indian readers will be used to from the NSE and BSE. There is no US equivalent of that. What exists instead is tiered by how much of a company an investor owns and what they intend to do with it.
| What we read | When it appears |
|---|---|
| Quarterly holdings reports (13F) | Up to 45 days after the quarter ends |
| Activist stake filings and amendments (13D) | 5 business days initially, 2 business days for changes |
| Insider transactions by holders of 10% or more (Form 4) | 2 business days |
| Passive 5% stake filings (13G) | 5 business days for passive investors, 45 days after quarter end for institutions |
Four things these filings do not show, all of which matter more than people assume. They do not show short positions, and will not until a separate short reporting rule takes effect, currently expected in 2028. They do not show holdings outside the United States. They do not show cash, bonds, or anything that is not a listed US equity. And a manager can apply to have a position kept confidential for a period while they build it, so a filing can be genuinely incomplete rather than merely late.
Ranking investors by how much money they run is the obvious approach and it is the wrong one. Because these filings are stale by design, the only thing that varies their usefulness is how much of one person’s judgement each position carries. A fund holding two hundred companies has told you almost nothing by adding one more. A fund holding five has told you everything it knows.
The list is our own. We started from the investors who file public holdings reports in the United States and whose records are long enough to be judged, read what has been published about each of them, and then asked four things of each: how concentrated the portfolio is, whether the person named on the door still makes the decisions, how long and how good the record is, and how recently they last filed. Two shortlists were drawn up separately and then argued against each other, which is how several names were added and one was taken out. Every claim about a record or a status was checked against published reporting before anybody was included or left off, and the words on this page are ours.
This is a different exercise from the one in our Methodology page, and the two should not be confused. That page sets out the eleven tests that decide which companies appear in an issue, applied to market data, and it is the only thing that decides what we publish. What is described here is how we chose whose filings to read. No investor on this list has any bearing on which companies pass those tests, and no company passes them because somebody on this list owns it.
1. Warren Buffett, Berkshire Hathaway. We do not track him for ideas, which at his size would be pointless. We track him because the reasoning behind every holding is published every year, and that is the standard we try to write to.
2. Chris Hohn, TCI Fund Management. A very small number of holdings for the size of the fund, which is the highest conviction per dollar on the list. He is also having a harder 2026 after a record 2025, and watching a good investor inside a difficult period is more instructive than watching one during a good one.
3. Li Lu, Himalaya Capital. A quarter century of running money the same way. Charlie Munger entrusted him with his own family’s capital, which is a stronger reference than any marketing document.
4. Dev Kantesaria, Valley Forge Capital. The purest working example anywhere of buying a small number of businesses with durable competitive advantages and then leaving them alone.
5. Norbert Lou, Punch Card Management. He trades very rarely and holds very little at a time, so any change at all in his filing is worth stopping to read.
6. Seth Klarman, Baupost Group. Decades of writing about risk before return. The caution is that his US equity filing is a small part of what the firm does, so we read it as a fragment.
7. David Abrams, Abrams Capital. No borrowed money, running since 1999, and almost no public profile at all.
8. Clifford Sosin, CAS Investment Partners. A new name appearing here represents a very long piece of work on a single business.
9. Mark Massey, AltaRock Partners. Long holding periods and almost no public commentary, which makes the filing the only thing he says.
10. Bill Ackman, Pershing Square. He publishes the full argument for everything he owns. Whether or not you agree with him, those presentations are among the best freely available material on how to make an investment case.
11. Pat Dorsey, Dorsey Asset Management. He built the framework for rating competitive advantages that much of the industry now uses, including us. We track him partly to see how he applies it, and partly because he has been openly revising it.
12. Akre Capital Management. Businesses bought to be held for a very long time. Note that Chuck Akre stepped back from running the strategy in 2020, so we read it as the firm’s process rather than one person’s judgement.
13. Terry Smith, Fundsmith. On the list because the last few years have been hard for him and he has been unusually direct about it. How a disciplined investor responds to a long stretch of underperformance is worth more to a reader than another good year would be.
14. Glenn Greenberg, Brave Warrior Advisors. Concentrated at the top, very low turnover, decades of compounding, and almost no publicity.
15. Duan Yongping, H&H International. The only person here who built large operating businesses before he managed money, which shows in what he buys.
16. Greg Alexander, Conifer Management. Concentrated, and no public profile whatsoever.
17. Mohnish Pabrai. Unusually open about his method and about his own mistakes, both of which he has taught publicly for years.
18. Jeffrey Ubben, ValueAct Holdings. Engagement conducted from a board seat rather than through the press, which means long holding periods and visible reasoning.
19. Nelson Peltz, Trian Fund Management. Each holding becomes a public argument about how a company should be run.
20. Bruce Berkowitz, Fairholme Capital. A rare willingness to look wrong for years at a time, which is a useful corrective to anything selected on momentum.
21. Edgar Wachenheim III, Greenhaven Associates. Running since 1987, and he has written plainly about his own mistakes, which very few people in this industry do.
22. John Armitage, Egerton Capital. One of the most consistent European records of the past thirty years, with very little noise attached to it.
23. Francois Rochon, Giverny Capital. He publishes an annual list of his own worst decisions of the year. That single habit makes his letters more useful than most paid research.
24. Mason Hawkins, Longleaf Partners. A value process held to through several complete market cycles, including the long stretches when it stopped working.
25. Bill Nygren, Oakmark Select. A quarterly commentary that explains the reasoning behind each decision, which makes it teaching material as much as a filing.
26. Stephen Mandel, Lone Pine Capital. One of the clearest long term growth records of his generation, and the periods of decline are as instructive as the rest.
27. David Tepper, Appaloosa Management. What he sells tends to tell you more than what he buys.
28. Henry Ellenbogen, Durable Capital Partners. Among the more interesting of the newer generation, and one of the most recent filers on the whole list.
29. Dennis Hong, ShawSpring Partners. Positions built around a specific idea about how businesses defend themselves, and he is openly on the record about how volatile the fund is.
30. Christopher Bloomstran, Semper Augustus. Not for the filing. His annual letter runs to a hundred pages of detailed accounting work and is better than most research anyone pays for.
A number of well known names were considered and left off, for reasons that are worth stating rather than leaving to be guessed at.
Some are no longer filing. Charlie Munger died in 2023 and the Daily Journal portfolio has not changed since. Martin Whitman died in 2018. Michael Burry closed his fund to outside investors and deregistered it in November 2025, so no further filings will exist. Two other entries have not filed for more than nine months.
Some hold too much to say anything. Several respected firms report between eighty and two hundred separate holdings. These are good investors, and a filing that names two hundred companies still has not made a decision a reader can learn from.
One is a special case worth naming. Howard Marks is among the finest investors alive and his memos are an education, but Oaktree’s business is largely credit, which does not appear in an equity filing at all. Read the memos, which are free. The filing will not tell you much.
The filings themselves are public records published by the United States Securities and Exchange Commission and are free for anyone to read. Records, dates and current status were checked against published reporting before anybody was added or left out.
None of the investors named on this page has any connection to this publication. None has reviewed it, endorsed it, or is aware of it. The SEC is not affiliated with us in any way, and nothing here is published with its knowledge or approval.
The tracker itself is public, and there are two pages of it.
Smart Investor Tracker is the running feed. The filings that arrived, read every morning and written out in plain English, keeping the last thirty one days.
Smart Investor Portfolios is the standing picture. What each investor owns from their most recent quarterly report, and what it is worth.
The code behind them is our own and is not published. What it produces is, which is the part that matters to a reader: everything on both pages comes from filings the SEC publishes, every entry says which filing it came from, and anyone can pull the same documents from EDGAR and check our reading against the originals rather than take our word for it.
The two pages are free and will stay free. Everything we read, every filing, every portfolio, is on them for anyone, forever.
If you would rather have the week’s filings delivered than fetch them, that is the paid part. Smart Investor Tracker alerts are one email each Monday holding every filing the thirty made that week and the week’s S&P 500 promoter buying, in the same plain English as the pages, for Rs. 199 for a year. Payment is taken once, through Zoho (UPI, cards, net banking), covers 365 days, and does not renew by itself. New subscribers receive the current week’s edition immediately after their payment is confirmed, then every Monday.
The data in the emails is the same data that is on the free pages. You are paying for delivery, not for access to anything hidden. Cancellations and refunds follow our Cancellation and Refund Policy, the same as everything else we sell.
This publication is impersonal commentary of general and regular circulation. It is not investment advice, it is not a recommendation to buy or sell any security, and it is not tailored to any person or their circumstances. Please read the full Disclaimer before relying on anything here.
Questions are welcome at hello@themicrocapminute.in.