WS #7437

The dominant signal in this window is the release of Q1 2026 13F filings from major hedge funds and Berkshire Hathaway, revealing significant portfolio shifts. Berkshire Hathaway, under new CEO Greg Abel, boosted its Alphabet stake and exited Amazon, while taking a new $2.65B position in Delta Air Lines. Third Point initiated stakes in Alphabet, Meta, and ASML, while Citadel added GE and T-Mobile. These filings provide high-signal insight into institutional positioning. Separately, geopolitical tensions escalated with reports of US-Israeli plans for potential strikes on Iran, a Russian attack destroying a residential building in Kyiv, and Hezbollah attacks on Israeli barracks. The bond rout continues to pressure risk assets, with equities and bonds both declining to close the week. The prevailing macro narrative of geopolitical risk and bond market stress is ESCALATING, with no counter-signals in this window. Key developments include: (1) Berkshire Hathaway's new $2.65B stake in Delta Air Lines signals a bullish view on airlines, while exiting Amazon suggests a rotation out of tech. (2) Third Point's new stakes in Alphabet, Meta, and ASML indicate confidence in tech and semiconductor sectors. (3) SpaceX is reportedly seeking to file for IPO as soon as Wednesday, which could be a major catalyst for space and tech stocks. (4) The bond rout is escalating, with Bloomberg reporting that Wall Street's risk rally has run into the bond market, pressuring equities. (5) Geopolitical risks are intensifying with Russian strikes on Kyiv, Hezbollah attacks on Israel, and ongoing Iran tensions, supporting energy stocks and safe havens.