Note: We should never mindlessly ape the investment moves of others, no matter how good their long-term track record might be. I do, however, take their moves into consideration and view them as a useful starting point for further research.

The Direxion iBillionaire Index ETF (IBLN) is about to get a quarterly overhaul. Its underlying index announced it latest rebalancing last month based on the latest 13F filings by financial billionaires. 14 of IBLN's 30 holdings are being replaced.

iBillionaire is one of several guru-following strategies currently competing in the ETF space along with the AlphaClone Alternative Alpha ETF (ALFA) and the Global X Guru Index ETF (GURU), though the iBillionaire ETF takes an interesting twist. It specifically limits its portfolio to the 30 S&P 500 stocks being purchased by billionaire fund managers. You can think of IBLN as the sliver of the S&P 500 being accumulated by masters of the universe like George Soros, Julian Robertson or John Paulson.

So, what are the billionaires buying? healthcare, mostly.  Healthcare jumped from a 13% to a 20% allocation.

New additions included AbbVie (ABBV), Humana (HUM), Tenet Healthcare (THC) and Thermo Fisher Scientific (TMO).

In technology, we see facebook (FB) and Google (GOOG) making the list. And Air Products & Chemicals (APD), CBS Corporation (CBS), Delta Airlines (DAL), General Motors (GM), Masco Corporation (MAS), Monsanto (MON), National Oilwell-Varco (NOV) and Whirlpool (WHR) make up the rest of the new additions. Portfolio wide, about two thirds of the iBillionaire Index is in consumer discretionaries, technology and healthcare stocks with materials, energy, industrials and financials being underweighted and utilities and consumer staples not represented at all.