WS #7432

The dominant macro narrative remains bearish on rate hike fears and bond selloff, with broad market selloff across equities, crypto, and commodities. However, several high-signal developments emerged in this window: (1) Pershing Square Capital Management's 13F reveals a 19.2% increase in Amazon stake to 11.5M shares, while dissolving its Hilton Worldwide stake and reporting a 5.7M share stake in Microsoft. (2) Tiger Global's 13F shows new large buys in ARM and AXON, added 40% to CRWV, reduced HOOD, sold BE. (3) Appaloosa Management's 13F shows broad selling including AMD, TSMC, NVDA, MSFT, META, AMZN, and sold entire stakes in AAL, DAL, UAL, ASML, while increasing UBER, VST, BAIDU. (4) Third Point's 13F shows decreased stakes in Amazon, NVIDIA, and others, while increasing ARS Pharmaceuticals. (5) Berkshire Hathaway more than tripled its GOOGL position to over $15B. (6) NVIDIA's 13F reveals new stake in Generate Biomedicines (833,325 shares) and increased CoreWeave stake. (7) BlackRock Private Credit Fund's valuations being probed by DOJ. (8) Monster Beverage authorizes new $500M buyback. (9) PayPal issued $2B in senior notes. (10) Geopolitical tensions persist with Strait of Hormuz blockade, Iran airspace closure bets, and reported assassination of Hamas leadership. (11) BRICS talks conclude without joint statement amid Iran war divisions. (12) U.S. stocks closed lower with Dow down 1.07%. The macro narrative is STABLE with no escalation or de-escalation, but the 13F filings provide significant stock-specific signals.