Billionaires Boost Stakes in Intuit and AppLovin Despite Steep 2026 Losses

Insider Monkey··US·Read original
3▲2 ▼0Impact / 5
Summary · why it matters

Billionaire-led funds piled into two of 2026's worst-performing stocks during the second quarter, according to 13F filings. Intuit is down about 56% so far this year, yet 26 billionaire-led funds held stakes at the end of the second quarter, down from 28 in the prior quarter, with D. E. Shaw growing its position by more than 100 times to over 2.1 million shares worth $557 million, Millennium Management raising its stake by 406%, AQR Capital Management by 191%, GLG Partners by 180%, and Gotham Asset Management by 132%, while Paul Tudor Jones opened a new position worth over $107 million. AppLovin is down about 49% this year, but billionaire-led funds holding the stock rose to 31 at the end of the second quarter from 28 in the prior quarter, with Citadel Investment Group adding 41%, Discovery Capital Management 64%, Gotham Asset Management 68%, Woodline Partners 30%, Hiddenite Capital Partners 50%, Quantinno Capital 20%, and AQR Capital Management 12%, while Bridgewater's Ray Dalio and 3G Capital's Jorge Paulo Lemann each took first-time stakes worth over $48 million. Intuit faces pressure from cheaper alternatives and concerns that artificial intelligence could disrupt its tax and accounting businesses, though bulls point to its data and QuickBooks integration, and its assisted tax revenue rose 37% in fiscal 2026 as assisted tax customers increased 38% to 13 million. At $275.79, Intuit trades at 11.5 times forward non-GAAP earnings, about 51% below the sector median of 23.5 and 64% below its five-year average of 32.4, while its forward EV-to-EBITDA multiple of 7.1 is below the sector median of 14.5 and its five-year average of 23.6.

Impact on assets 2

Artificial Intelligence▲ · 1 stocks
Applovin Corp
APP
▲ PositiveCapitalrelevance

Billionaire-led funds raised stakes in AppLovin to 31 holders from 28, with Citadel, Discovery, Gotham and others adding and Dalio/Lemann opening new positions.

Cloud & Digital Infrastructure▲ · 1 stocks
Intuit Inc
INTU
▲ PositiveCapitalDemandrelevance

Billionaire-led funds boosted Intuit stakes (D.E. Shaw, Millennium, AQR, Tudor Jones) even as the stock fell 56% amid AI-disruption and cheaper-alternative concerns.

Off-coverage companies 10

3G Capital PartnersPrivate± Mixed
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AQR Capital ManagementPrivate± Mixed
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CitadelPrivate± Mixed
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D. E. Shaw GroupPrivate± Mixed
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Discovery Capital ManagementPrivate± Mixed
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Gotham Asset ManagementPrivate± Mixed
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Hiddenite Capital PartnersPrivate± Mixed
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Millennium ManagementPrivate± Mixed
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Quantinno Capital ManagementPrivate± Mixed
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Woodline Partners LPPrivate± Mixed
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