With another May comes another quarterly disclosure of the holdings of institutional money managers with assets of at least $100 million. The Securities & Exchange Commission (SEC) requires these managers to report their stock holdings via Schedule 13F within 45 days of the end of each quarter.

In February, when these investors last updated their holdings (as of the end of the fourth quarter of 2012), we highlighted four picks from each of four different investment gurus—Seth Klarman, David Einhorn, Julian Robertson and Daniel Loeb—to see what they can tell us about which stocks may be moving up—or down.

In that article, we discussed Seth Klarman’s new position in American International Group (NYSE: AIG). Since that article came out on February 20, AIG has soared from $37.57 to today’s level of $44.96—for a 19.7% gain in just three months.

These updates also give us a chance to stack these investment pros up against one another and see how their picks compare.

In the last three months, only eight of the 16 stocks highlighted (50%) in our February article made a profit (a sold stock is considered profitable if it went down in price). Making a profit is different from outperforming a stock index, however. Of the 10 stocks the gurus bought in the fourth quarter, six (60%) have beaten the S&P’s return of 10.0% in the past three months. Of the six stocks sold, two (33%) underperformed the S&P 500, so the gurus were better bulls than bears.

In addition to American International Group, “buy” winners included David Einhorn’s Microsoft (NasdaqGS: MSFT) (+25.0%) and Cigna (NYSE: CI) (+14.0%); Julian Robertson’s Berkshire Hathaway (NYSE: BRK.B) (+12.5%); and Daniel Loeb’s News Corp. (NasdaqGS: NWSA) (+15.7%) and Herbalife (NYSE: HLF) (+33.8%).

Losing trades included Julian Robertson’s new position in ADT Corp. (NYSE: ADT), which has plunged 10.6% in the last three months. On the sell side, Seth Klarman missed out on a big gain by getting out of Hewlett-Packard (NYSE: HPQ), which has risen 26.4%, and David Einhorn is likely regretting cutting back on Seagate Technology (NasdaqGS: STX), which has soared 27.8%.

In all, the four gurus invested their way to a draw, with each posting two winning trades out of four (winning trades being buys that outperformed the S&P 500 or sells that went on to be outpaced by the benchmark index.)

Miscues like the ones mentioned above illustrate how important it is to do your own research and not merely follow the actions of investment pros, no matter how distinguished they may be; in addition, it’s important to keep in mind that these 13F filings are usually out of date by the time they are released and likely don’t paint an up-to-the-minute picture of each investor’s holdings.

Nevertheless, they are still a gold mine of information as to what the smartest investors are buying and selling. A timely review of them can make you money. With that in mind, here are some highlights from all four investors’ just-released 13F filings.

Note that the following is not a full account of these gurus’ transactions, just a few that are worth noting. If you’re keen to see what picks the cream of the investment crop are making these days (and who isn’t?), read on.