Latest news with #13F
Yahoo
4 days ago
- Business
- Yahoo
Ackman, Druckenmiller-Tracking ETFs Are Latest Industry Gambit
(Bloomberg) -- In a crowded ETF market obsessed with attention-grabbing pitches, one idea keeps coming back: Track the trades of star investors and sell them to the masses. NYC Congestion Toll Brings In $216 Million in First Four Months Now With Colorful Blocks, Tirana's Pyramid Represents a Changing Albania The Economic Benefits of Paying Workers to Move Billionaire Steve Cohen Wants NY to Expand Taxpayer-Backed Ferry NY Wins Order Against US Funding Freeze in Congestion Fight The latest entrant comes from VistaShares, which filed this week for a suite of ETFs designed to replicate the holdings of famed money managers like Bill Ackman, Stanley Druckenmiller and Michael Burry. By combing through regulatory disclosures, the firm aims to build funds that echo the moves of these high-profile investors — a fresh spin on the long-running effort to bottle hedge-fund mystique for retail buyers. VistaShares plans to launch funds tracking the portfolios of Ackman's Pershing Square and Burry's Scion Asset Management, among others, by scouring their 13F filings or quarterly reports submitted to the Securities and Exchange Commission. The VistaShares Pershing Square Select ETF, for instance, would be composed of up to 20 stocks reflecting the publicly disclosed holdings of Ackman's firm, either directly or via derivatives including options or swaps, according to the filing. The other funds — seven in total, including two based on Druckenmiller's Duquesne family office and a Berkshire one — would employ similar strategies. But the offering from VistaShares comes with another caveat: 13F filings have an embedded lag as the money managers submit the regulatory paperwork at the end of each quarter, meaning that their strategies had already been implemented, possibly weeks prior to the public being privy to it. And whatever trend or quirk the money managers might have been looking to take advantage of may even have come to pass by that point. 'Hyper-focusing on a few select managers' holdings is interesting, but I have to question the utility of a product when there's an inherent lag to the holdings,' said Todd Sohn, senior ETF analyst at Strategas Securities. 'Managers can change their mind whenever they want, and the ETF would not necessarily reflect real-time decisions.' Still, the strategy fits into a broader push to democratize institutional-style investing in a low-cost wrapper — and standing out in a saturated field. VistaShares already runs the VistaShares Target 15 Berkshire Select Income ETF (ticker OMAH), which targets names owned by Berkshire Hathaway. Its assets have grown to above $200 million, so the issuer may be looking to replicate the success it's seen with that vehicle, said Sohn. It also is looking to soon launch the VistaShares Animal Spirits Daily 2X Strategy ETF under the ticker WILD, which would take the most popular companies — as measured by flows and assets — among amped-up single-stock ETFs and offer double-leveraged exposure on them. VistaShares runs three ETFs altogether, including OMAH, according to its website. Its co-founder, Jon McNeill, previously served as president at Tesla, and also held a stint at Lyft, the website says. The company did not respond to a request for comment. ETFs built around hedge-fund tracking have had mixed success. The Goldman Sachs Hedge Industry VIP ETF (GVIP) is one standout, with its performance handily beating the S&P 500 so far this year and its assets growing to above $325 million. On the other hand, the Intelligent Livermore ETF (LIVR), which uses AI to harness the brainpower of the investment world's most illustrious minds, holds just $17 million after having launched in September. Meanwhile, the Global X Guru Index ETF (GURU) tracks the top equity holdings of certain hedge funds — via a process also based on regulatory submissions — and the fund holds just $47 million, though it's been around since 2012. 'Investors have always been drawn to tracking 13F filings because they offer a rare glimpse into the portfolios of top fund managers,' said Bloomberg Intelligence's Athanasios Psarofagis. 'Traditionally, this hedge-fund category has been tough to crack in the ETF wrapper. ETFs in the past have tried this and it showed that investors were more interested in what these managers were doing than they are in buying the ETFs.' --With assistance from Isabelle Lee. YouTube Is Swallowing TV Whole, and It's Coming for the Sitcom Mark Zuckerberg Loves MAGA Now. Will MAGA Ever Love Him Back? Millions of Americans Are Obsessed With This Japanese Barbecue Sauce How Coach Handbags Became a Gen Z Status Symbol Will Small Business Owners Knock Down Trump's Mighty Tariffs? ©2025 Bloomberg L.P.
Globe and Mail
6 days ago
- Business
- Globe and Mail
Billionaires Philippe Laffont, Chase Coleman, Terry Smith, and Stephen Mandel All Share the Same No. 1 Holding -- and It's Not Nvidia
For many investors, earnings season is the pinnacle of each quarter. It's a six-week period that provides an under-the-hood look at how well a majority of the most-influential public businesses driving the stock market higher or lower have performed. But it can be argued that the quarterly filing of Form 13Fs with the Securities and Exchange Commission (SEC) is just as important. Where to invest $1,000 right now? Our analyst team just revealed what they believe are the 10 best stocks to buy right now. Learn More » A 13F is a required filing no later than 45 calendar days following the end to a quarter for institutional investors overseeing at least $100 million in assets under management. May 15 marked the deadline for money managers to file their 13F with the SEC. This filing details which stocks and exchange-traded funds (ETFs) Wall Street's brightest asset managers have been buying and selling. Even though 13F data can be stale for active hedge funds, they're nevertheless insightful in helping investors weed out which stocks, industries, sectors, and trends have the attention of the world's smartest fund managers. Based on first-quarter 13Fs, an interesting quirk emerged: One stock stood out as the largest holding for billionaires Philippe Laffont of Coatue Management, Chase Coleman of Tiger Global Management, Terry Smith of Fundsmith (aka, " Britain's Warren Buffett"), and Stephen Mandel of Lone Pine Capital. Four different investing styles converge on one stock -- and it's not Nvidia With thousands of publicly traded companies and ETFs to choose from, there's a statistically small probability that four prominent billionaire money managers are going to settle on the same stock as their respective fund's top holding. Things get even weirder when you realize that all four fund managers have differing investment styles: Philippe Laffont oversees $22.7 billion at Coatue Management and is prominently known for his focus on large-cap growth stocks and Wall Street's hottest trends, such as artificial intelligence (AI). Chase Coleman is managing roughly $26.6 billion at Tiger Global and also favors growth stocks, but with more of flair for small caps. Terry Smith is guiding the investment of $22 billion in capital at Fundsmith and is known as a diehard value investor, much like Warren Buffett. Stephen Mandel is managing close to $11.6 billion at Lone Pine and tends to put his fund's capital to work in a mix of growth stocks and companies exacting turnarounds. Most investors would probably be inclined to believe that AI colossus Nvidia (NASDAQ: NVDA) is the company all four billionaires have settled on as their top holding. Nvidia touches on Laffont's love for hot Wall Street trends; it's a growth stock that Coleman and Mandel can rally around; and its shares dipped to a forward price-to-earnings (P/E) ratio of 19 during the stock market's first-quarter swoon, which is its cheapest forward P/E in years (i.e., Terry Smith would possibly be interested). Furthermore, Nvidia offers a seemingly sustainable moat that top-tier money managers love to put their capital behind. Its Hopper (H100) graphics processing unit (GPU) and Blackwell GPU architecture are the leading options deployed in AI-accelerated data centers. No direct AI-GPU developer has come particularly close to matching the compute abilities or innovation timeline of Nvidia. But Nvidia isn't the correct answer. However, the stock in question is most definitely "Magnificent." The No. 1 holding of four prominent billionaires has gained 1,570% since its IPO Few companies check all the right boxes for billionaires Philippe Laffont, Chase Coleman, Terry Smith, and Stephen Mandel -- but social media maven Meta Platforms (NASDAQ: META), which is a member of the " Magnificent Seven" alongside Nvidia, fits the mold. Based on the latest round of 13F filings, Meta was the clear No. 1 holding by market value for all four billionaires and respectively accounted for: Coatue Management: 9.55% of invested assets Tiger Global Management: 16.18% of invested assets Fundsmith: 10.19% of invested assets Lone Pine Capital: 8.75% of invested assets Since its initial public offering (IPO) in May 2012, shares of Meta Platforms have increased by 1,570%, as of this writing. These gains have been made possible by four factors, all of which have probably played at least some role in making Meta the No. 1 holding for four highly successful billionaire asset managers. The first variable working in Meta's favor is its foundational social media platforms. Collectively, the company's family of apps, which includes Facebook, WhatsApp, Instagram, Threads, and Facebook Messenger, helped lure an average of 3.43 billion daily active people during March 2025. No other social media company comes remotely close to this figure, which affords Meta a superior level of ad-pricing power. Secondly, but building on this first point, Meta's operating performance and stock tend to ebb-and-flow with the health of the U.S. economy. Almost 98% of the company's net sales can currently be traced to advertising. Since the average U.S. economic expansion lasts considerably longer than the typical recession, Meta's ad-driven core is well-positioned to thrive over long periods. The third variable likely luring all four billionaire investors is Meta's addressable market for artificial intelligence. It's already deploying generative AI solutions into its ad platforms to allow businesses to tailor unique message(s) to users of its apps. But Meta is also investing aggressively in the future, which more than likely includes the company acting as a leading on-ramp to the metaverse -- the 3D digital world where people can interact with each other and their surroundings. CEO Mark Zuckerberg has a knack for holding back on monetizing new innovations until the time is right. The fourth and final reason Philippe Laffont, Chase Coleman, Terry Smith, and Stephen Mandel likely piled into Meta stock is the company's cash-rich balance sheet. Meta ended March with north of $70 billion in cash, cash equivalents, and marketable securities, and generated $24 billion in net cash from its operating activities through just the first three months of the year. It can invest in higher-growth initiatives and take risks that few other companies can match. With Meta Platforms expected to sustain a mid-teens sales growth rate, its forward P/E ratio of 22 remains quite attractive. Should you invest $1,000 in Meta Platforms right now? Before you buy stock in Meta Platforms, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and Meta Platforms wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $653,389!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $830,492!* Now, it's worth noting Stock Advisor 's total average return is982% — a market-crushing outperformance compared to171%for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Randi Zuckerberg, a former director of market development and spokeswoman for Facebook and sister to Meta Platforms CEO Mark Zuckerberg, is a member of The Motley Fool's board of directors. Sean Williams has positions in Meta Platforms. The Motley Fool has positions in and recommends Meta Platforms and Nvidia. The Motley Fool has a disclosure policy.
Yahoo
7 days ago
- Business
- Yahoo
Alphabet Just Slashed Its Stake in This Monster Artificial Intelligence (AI) Cybersecurity Stock. Should You Follow?
Per its most recent 13F filing, Alphabet sold shares in CrowdStrike for the first time in a year. Over the last year, CrowdStrike stock has outperformed its peers and the broader market. In addition, Alphabet's recent acquisition of Wiz could be seen as a signal that it wants to compete more directly with CrowdStrike. 10 stocks we like better than CrowdStrike › Each quarter, investment firms that manage over $100 million are required to file a form 13F with the Securities and Exchange Commission. Essentially, a 13F breaks down which stocks institutional money managers bought and sold during the last quarter -- thus providing some clues as to what the "smart money" on Wall Street is thinking. Outside of traditional investment funds, though, large corporations with investments in other companies are also required to file a 13F. Last quarter, artificial intelligence (AI) behemoth Alphabet (NASDAQ: GOOGL) (NASDAQ: GOOG) trimmed its stake in a red-hot cybersecurity stock by 83%. Let's analyze what stock Alphabet just sold, and explore why it may have done so. From there, I'll provide my opinion on whether or not now is a good time to follow Alphabet's lead. One of Alphabet's bigger sells during Q1 was in CrowdStrike (NASDAQ: CRWD). The table below illustrates the number of shares Alphabet owned in CrowdStrike over the last year. Category Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Shares owned of CrowdStrike 855,789 427,895 427,895 427,895 74,230 Data source: While Alphabet started to meaningfully trim its position in CrowdStrike around this time last year, the internet and cloud leader hadn't made any changes to its exposure in the cybersecurity stock for the last three consecutive quarters. So why now? I can think of two big reasons why Alphabet may have just significantly reduced its position in CrowdStrike. Since the end of Q1 2024, shares of CrowdStrike have gained 43% (as of this writing). Not only does that demolish the returns generated by the S&P 500 and Nasdaq Composite, but it's also considerably higher than many of CrowdStrike's peers in the cybersecurity space. Remember, last summer CrowdStrike was at the center of a public relations disaster after a bug was found in its software platform -- causing widespread outages across the globe in many of its customers. Despite this minor crisis, CrowdStrike stock has proven resilient and bounced back from its epic sell-off last July. Given these dynamics, I think Alphabet chose to sell into some momentum and take some gains off the table. Given CrowdStrike's most recent financial guidance didn't exactly impress investors, I think Alphabet's decision to sell when it did could prove quite savvy. The bigger reason I think Alphabet reduced its exposure to CrowdStrike, however, is due to the company's recent acquisition of Wiz. Over the last few years Alphabet has made a flurry of acquisitions in the cybersecurity space. To me, rolling Wiz into its cloud-based cybersecurity products -- which is also part of Alphabet's growing AI division -- represents an opportunity to compete more directly with CrowdStrike. The chart below benchmarks CrowdStrike against a peer set of other cybersecurity software stocks based on the price-to-sales (P/S) multiple. CrowdStrike is one of the priciest stocks in this cohort, trailing only Cloudflare by a narrow margin. What's more is the disparity between the multiples in CrowdStrike and its peers is huge and appears to be widening! Even with this valuation expansion, CrowdStrike's current P/S of 28.8 is 56% below its five-year high of 65.7. With that in mind, I think CrowdStrike is actually beginning to show signs of a maturing business. What I mean by that is the valuation may appear overextended upon first glance, but when you consider longer-term trends, shares could be seen as reasonable right now. In fact, CrowdStrike's P/S levels have essentially rebounded back to where they were prior to the sell-off last summer when news of the outage broke. To me, Alphabet trimmed its stake in CrowdStrike for strategic reasons due to the ongoing integration with Wiz and perhaps is looking to reallocate capital into less volatile opportunities. I don't think there was much else driving the decision to sell CrowdStrike stock. I see CrowdStrike as a compelling opportunity at the intersection of AI and cybersecurity -- both of which are enormous and expanding addressable market opportunities. Investors with a long-run time horizon may want to consider scooping up shares of the cybersecurity leader right now at its current valuation. Before you buy stock in CrowdStrike, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and CrowdStrike wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $639,271!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $804,688!* Now, it's worth noting Stock Advisor's total average return is 957% — a market-crushing outperformance compared to 167% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool's board of directors. Adam Spatacco has positions in Alphabet. The Motley Fool has positions in and recommends Alphabet, Cloudflare, CrowdStrike, Datadog, Fortinet, Okta, and Zscaler. The Motley Fool recommends Palo Alto Networks. The Motley Fool has a disclosure policy. Alphabet Just Slashed Its Stake in This Monster Artificial Intelligence (AI) Cybersecurity Stock. Should You Follow? was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-05-2025
- Business
- Yahoo
Warren Buffett Bought 13 Stocks in the March-Ended Quarter -- 6 of Which He Never Wants to Sell
Quarterly Form 13Fs provide investors with an under-the-hood look at which stocks Wall Street's prominent money managers -- including Warren Buffett -- have been buying and selling. Nearly half the stocks Buffett purchased during the first quarter are companies he considers "indefinite" holdings. Berkshire Hathaway's chief also added to existing positions in two legal monopolies. 10 stocks we like better than Berkshire Hathaway › There's not a money manager on the planet that can captivate an audience of investors quite like Berkshire Hathaway's (NYSE: BRK.A)(NYSE: BRK.B) Warren Buffett. In the span of a half-century, Berkshire went from hosting its annual meeting in a subsidiary's employee cafeteria for roughly two dozen people to filling a venue that can now hold roughly 40,000 people. The month of May has been particularly eventful, as it's featured the release of Berkshire first-quarter operating results, as well as the Oracle of Omaha's announcement that he plans to step down as CEO by the end of 2025 and hand the reins to Greg Abel. And May is the month for the release of quarterly Form 13Fs, which are filings that detail which stocks and exchange-traded funds institutional investors overseeing at least $100 million have been buying and selling in the latest quarter. In other words, it's an easy way to see which stocks, industries, sectors, and trends are piquing the interest of Wall Street's premier money managers; and no 13F filing is more anticipated than that of Berkshire Hathaway. Even though Buffett has been a net seller of stocks for 10 consecutive quarters -- $174.4 billion in net stock sales since Oct. 1, 2022 -- he was also a fairly active buyer during the March-ended quarter. Based on Berkshire's 13F, as well as other regulatory filings, he bought 13 stocks in the first quarter, six of which he says he has no plans of ever selling. Constellation Brands (NYSE: STZ): 6,384,676 shares purchased Sirius XM Holdings (NASDAQ: SIRI): 2,308,119 shares Pool Corp. (NASDAQ: POOL): 865,311 shares Occidental Petroleum (NYSE: OXY): 763,017 shares Domino's Pizza (NASDAQ: DPZ): 238,613 shares HEICO Class A (NYSE: HEI.A): 112,401 shares VeriSign (NASDAQ: VRSN): 18,423 shares Mitsubishi (OTC: MSBHF)(OTC: MTSU.Y): Now holds 9.67% of outstanding shares (OS), up from 8.31% Itochu (OTC: ITOCF)(OTC: ITOCY): Now holds 8.53% of OS, up from 7.47% Mitsui (OTC: MITSF)(OTC: MITSY): Now holds 9.82% of OS, up from 8.09% Marubeni (OTC: MARUF)(OTC: MARUY): Now holds 9.3% of OS, up from 8.3% Sumitomo (OTC: SSUM.F)(OTC: SSUM.Y): Now holds 9.29% of OS, up from 8.23% The as-of-now unknown confidential-treatment stock. In Berkshire Hathaway's 2023 annual letter to shareholders, Buffett outlined eight stocks that he viewed as "indefinite" holdings. Two of these companies are easy to decipher: Coca-Cola (NYSE: KO) and American Express (NYSE: AXP), which have been continuous holdings since 1988 and 1991, respectively. Integrated oil and gas company Occidental Petroleum was listed as the third forever holding. Though energy stocks have rarely comprised a sizable percentage of Berkshire Hathaway's investment portfolio, the nearly 265 million shares of Occidental common stock that Buffett has bought since the start of 2022, coupled with the $8.49 billion in Occidental preferred stock yielding 8% annually that Berkshire is holding, signal a clear expectation that the spot price of crude oil will head higher. Despite also overseeing pipelines and chemical plants, Occidental Petroleum's revenue stream is heavily overweight to the drilling side of its operations. If the spot price of crude oil climbs, it's arguable that no integrated energy company benefits more than Occidental. Just keep in mind that the reciprocal is true if the price of crude oil declines. The five other stocks Buffett is buying that he never wants to sell are the Japanese trading companies, commonly known as the "sogo shosha" -- Mitsubishi, Itochu, Mitsui, Marubeni, and Sumitomo. Berkshire Hathaway was recently given permission to increase its holdings in the sogo shosha beyond 10% of their outstanding shares, should he and Greg Abel choose to do so. Mitsubishi, Itochu, Mitsui, Marubeni, and Sumitomo play an integral role in Japan's economy. They're involved in the oil and gas industry, mining, chemicals, food production, healthcare, and so on. If Japan's economy is growing, there's a good chance these five companies are playing a key role. More importantly, these five companies are reasonably cheap amid a historically pricey U.S. stock market. What's more, they all have low levels of executive compensation and relatively generous capital-return programs. Investors might also notice that Berkshire's head honcho was a buyer of two legal monopolies during the March-ended quarter. Satellite-radio operator Sirius XM, which is arguably the top bargain in Berkshire Hathaway's $287 billion investment portfolio, is the only company licensed to operate satellite radio. Though this doesn't mean it's devoid of competition for listeners, its monopoly status does afford it a healthy level of subscription pricing power. What really tends to differentiate Sirius XM from traditional radio operators is its revenue diversity. Whereas terrestrial and online radio companies generate the bulk of their revenue from advertising, more than three-quarters of Sirius XM's net sales comes from subscriptions. Subscribers are less likely to cancel their service during a period of economic tumult than advertisers are to meaningfully cut back on their spending. Internet domain-name registry service VeriSign is the other legal monopoly Buffett has been buying. VeriSign is the registrar for dot-com and dot-net domains, which are granted by the Internet Corporation for Assigned Names and Numbers (ICANN). Even though growth in internet domain-name registration has slowed dramatically in a quarter of a century, it's still a highly predictable source of operating cash flow. Furthermore, VeriSign generates an operating margin that resides in the mid to high 60% range. Aside from the fees it pays to ICANN and some relatively minimal infrastructure investments, it enjoys strong pricing power for its services. Lastly, it's fair to say that Buffett's investing lieutenants, Todd Combs and Ted Weschler, have continued to exert more influence on Berkshire's portfolio. Based on Buffett's history of making decisive moves when buying and selling stocks, the additions to Pool, Domino's Pizza, and HEICO's Class A shares look to be the work of Combs and/or Weschler. While it's certainly possible for Berkshire's CEO to have weighed in on these investments, Combs and Weschler have generally been given liberty to make investments totaling up to $2 billion to $2.5 billion in a single security over time. Spirits and beer giant Constellation Brands is a tougher one to figure out. On one hand, Buffett has a knack for understanding consumer behaviors, and he's absolutely attracted to market leaders exhibiting price dislocations. Constellation Brands' forward price-to-earnings ratio (P/E) of 14 is currently 25% below its average forward P/E over the trailing-five-year period. On the other hand, it's fair to wonder if a 94-year-old Buffett, who's winding down his executive tenure at Berkshire by the end of 2025, is focusing on what's currently a $2.35-billion position instead of looking at potentially game-changing acquisition opportunities. Regardless of the answer, expect Combs and Weschler to take on a bigger role in trading activity. Before you buy stock in Berkshire Hathaway, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Berkshire Hathaway wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $644,254!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $807,814!* Now, it's worth noting Stock Advisor's total average return is 962% — a market-crushing outperformance compared to 169% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 American Express is an advertising partner of Motley Fool Money. Sean Williams has positions in Sirius XM. The Motley Fool has positions in and recommends Berkshire Hathaway, Domino's Pizza, and VeriSign. The Motley Fool recommends Constellation Brands, Heico, and Occidental Petroleum. The Motley Fool has a disclosure policy. Warren Buffett Bought 13 Stocks in the March-Ended Quarter -- 6 of Which He Never Wants to Sell was originally published by The Motley Fool Sign in to access your portfolio
Yahoo
23-05-2025
- Business
- Yahoo
Standard Chartered Doubles Down On $500K Bitcoin Target, Citing 'Wider Range Of Institutional Buyers'
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Standard Chartered has suggested it is more confident in its $500,000 Bitcoin price prediction. Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick highlighted that 13F data showed that several government entities increased MicroStrategy exposure in Q1. The $500,000 price point is symbolic for several Bitcoin proponents. Ambitious price predictions are commonplace in the world of cryptocurrencies, but they do not often come from prominent traditional financial institutions. Analysts at Standard Chartered predicted in February that Bitcoin would exchange hands for a staggering $500,000 per coin by 2028, reasoning that the supportive regulatory environment created by the Trump administration would improve access to the asset and bolster demand. Fast-forward three months, and the British multinational bank is doubling down. Don't Miss: — no wallets, just price speculation and free paper trading to practice different strategies. Grow your IRA or 401(k) with Crypto – . Standard Chartered has suggested in a Tuesday note that it is more confident in its $500,000 Bitcoin price prediction following recent 13F filings with the Securities and Exchange Commission. 13F filings are quarterly reports that institutional investment managers with over $100 million in assets are required to file with the SEC. 'The latest 13F data from the US Securities and Exchange Commission supports our core thesis that Bitcoin will reach the USD 500,000 level before Trump leaves office as it attracts a wider range of institutional buyers,' Standard Chartered Global Head of Digital Assets Research Geoffrey Kendrick wrote. Kendrick said that the recent filings appeared 'disappointing at first glance' as the State of Wisconsin Investment Board revealed that it had dumped its 3,400 BTC-equivalent holdings in BlackRock's spot Bitcoin exchange-traded fund the iShares Bitcoin Trust ETF (NASDAQ:IBIT). At the same time, Abu Dhabi sovereign wealth fund Mubdala Investment Company only bumped up its 4,700 BTC-equivalent holdings in IBIT to 5,000 BTC Trending: New to crypto? on Coinbase. But while Bitcoin ETF ownership data disappointed, MicroStrategy (NASDAQ:MSTR) holdings data 'was very encouraging,' Kendrick said. MicroStrategy is a business intelligence firm turned Bitcoin treasury company widely regarded as a proxy for the leading digital asset. Kendrick highlighted that 13F data showed that several government entities increased MicroStrategy exposure in Q1. These include Norway's Government Pension Fund, the Swiss National Bank and South Korea's National Pension Service and Investment Corporation, which each increased their holdings by an equivalent of 700 BTC. U.S. retirement funds in California, Kentucky, New York and North Carolina also added a combined 1,000 BTC-equivalent shares to their holdings. Meanwhile, France's investment arm Caisse des Dépots et Consignations and the Saudi Central Bank dipped their toes for the first time with 2,404 shares worth $692,000 and 89 shares worth $25,600, respectively. 'We believe that in some cases, MSTR holdings by government entities reflect a desire to gain Bitcoin exposure where local regulations do not allow direct BTC holdings,' Kendrick noted, adding, 'MSTR holdings point to widening structural demand.' The $500,000 price point is symbolic for several Bitcoin proponents and not just because it is a very large number. In November, Bitwise investment chief Matt Hougan said the $500,000 price point marked the point where Bitcoin would be 'mature.' He explained that a mature Bitcoin would share gold's $20 trillion market cap equally, which is how he arrived at the figure. 'Until then, it's still early,' he wrote at the time. SkyBridge Capital founder Anthony Scaramucci expressed a similar sentiment last week. He said Bitcoin would be considered an asset class when it hit $500,000. At last look, Bitcoin is trading at $106,000, up roughly 1% on the day. Read Next: A must-have for all crypto enthusiasts: . 'Scrolling To UBI' — Deloitte's #1 fastest-growing software company allows users to earn money on their phones. Image: Shutterstock Send To MSN: 0 This article Standard Chartered Doubles Down On $500K Bitcoin Target, Citing 'Wider Range Of Institutional Buyers' originally appeared on Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
