Top Superinvestors Are Buying Target Corporation

According to the most recent 13F filings, institutional investors made selective additions to Target Corporation (TGT), signaling cautious but notable interest from quantitative, value-oriented, and macro-driven managers. The buying activity suggests confidence in Target’s long-term fundamentals, including its brand strength, normalized earnings potential, and positioning within the consumer discretionary sector. Below are the most notable buyers from the last quarter:

AQR Capital Management LLC (Cliff Asness)

Shares: 2,870,210  Change: +2,035,298  Value: $0.28B

Cliff Asness led buying activity with a substantial increase, making AQR the most aggressive accumulator this quarter. The move likely reflects strong factor signals such as improved valuation, profitability metrics, and mean-reversion potential following recent stock weakness.

Grantham, Mayo, Van Otterloo & Co. LLC (Jeremy Grantham)

Shares: 439,283  Change: +96,796  Value: $0.04B

GMO added meaningfully to its position, consistent with its contrarian, valuation-driven philosophy. The increase suggests Target may be viewed as attractively priced relative to its normalized earnings and long-term competitive positioning.

Bridgewater Associates, LP (Ray Dalio)

Shares: 39,498  Change: +11,968  Value: $0.00B

Bridgewater expanded its stake, indicating incremental conviction in Target as part of a diversified macro portfolio. The addition may reflect expectations of stabilization in consumer spending and retail margins.

Fisher Asset Management, LLC (Ken Fisher)

Shares: 4,015  Change: +85  Value: $0.00B

Ken Fisher made a modest addition, consistent with a broad, diversified growth-oriented strategy. While small, the increase signals continued participation in Target’s recovery narrative.

Pzena Investment Management LLC (Rich Pzena)

Shares: 374,240  Change: +15  Value: $0.04B

Pzena slightly increased its already sizable position, reinforcing a deep value thesis. The firm likely sees upside in Target’s earnings normalization and margin recovery over time.

Fairholme Capital Management LLC (Bruce Berkowitz)

Shares: 23,000  Change: NEW POSITION  Value: $0.00B

Bruce Berkowitz initiated a new position, signaling a potential high-conviction value opportunity. Fairholme’s entry suggests Target may be trading below intrinsic value with favorable long-term risk/reward.

Maverick Capital Ltd (Lee Ainslie)

Shares: 5,067  Change: NEW POSITION  Value: $0.00B

Lee Ainslie established a new position, indicating a more opportunistic or tactical investment. The move may reflect expectations for operational improvement or a rebound in discretionary retail performance.

Overall Takeaway

Collectively, these filings highlight measured but targeted accumulation of Target shares, led by quantitative giants and complemented by value-focused and opportunistic investors. The mix of buyers suggests growing interest in TGT as a recovery and re-rating candidate.

As a leading retailer with strong brand equity, omnichannel capabilities, and significant scale, Target appears to be attracting institutional capital positioning for margin recovery, earnings stabilization, and potential upside as consumer trends normalize.