The stocks that hedge funds bought and sold during the second quarter are being revealed throughout the day, and some big names have made big moves.
Hedge funds of a certain size are required to disclose their long stock holdings in filings known as 13-Fs. Of course, the filings only provide a partial picture since they do not show short positions or wagers on commodities and currencies. What’s more is these filings come out 45 days after the end of each quarter, so it’s possible they could have traded in and out of the position. Still, it does provide a glimpse into where some of the top money managers have been placing money in the stock market.
Facebook loses a friend
Billionaire David Tepper of Appaloosa Management sold his fund’s 1.62 million shares of Facebook (FB), while billionaire Daniel Loeb’s Third Point LLC bought 3.75 million shares of the social network in the second quarter, a position valued at $428,550,000 on June 30. Shares of Facebook have risen more than 9% since the end of the quarter. Year-to-date, the stock is up more than 19%.
Billionaire Julian Robertson’s Tiger Management reduced its position in Facebook in the quarter, selling 25,500 shares, leaving the fund with a 186,500 shares, a position valued at $21.3 million at the end of the quarter.
Citi gains favor
Billionaire value investor Seth Klarman of Baupost Group and billionaire Leon Cooperman of Omega Advisors both initiated new positions in Citigroup (C) in the second quarter. Shares of Citigroup have gained more than 9% since the end of the second quarter.
Omega’s Cooperman also initiated a new position in Netflix (NFLX), while Robertson’s Tiger Management exited its stake that it first initiated in the fourth quarter of 2014. Shares of Netflix saw a monstrous rise since Robertson opened his stake, climbing around 88% through the end of the second quarter. So far, shares of Netflix have risen close to 5% since the end of the second quarter.
Tiger Global’s public equities business also ditched its entire stake in Netflix, a position that had been worth around $1.8 billion at the end of the first quarter.
Baupost’s Klarman and Appaloosa’s Tepper both added to their stakes in Allergan (AGN) in the second quarter. The pharma stock has risen more than 9% since the end of the second quarter.
Funds split on Apple
Warren Buffett’s Berkshire Hathaway boosted its stake in Apple by 55%, bringing its position to north of 15.2 million shares from 9.8 million.
George Soros’ family-office hedge fund Soros Fund Management sold its entire stake in Apple during the second quarter. Soros had held 3,100 shares of Apple, which he bought in the first quarter.
Here’ a rundown of what the hedge fund titans have been buying and selling:
Appaloosa Management (David Tepper)
New: Western Digital (WDC)
Trimmed: HCA Holdings (HCA)
Added: Allergan (AGN), Alphabet (GOOG), Allstate Corp (ALL), Mohawk Industries (MHK), Western Digital (WDC)
Exited: Bank of America (BAC), Cabot Oil & Gas (COG), Southwestern Energy Company (SWN), Range Resources Corporation (RRC), Pfizer (PFE), Teekay Offshore Partners (TOO), Delta Airlines (DAL), Facebook (FB), Tenet Healthcare Corp (THC), United Rentals (URI), Antero Resources Corporation (AR), Valeant (VRX)
Baupost Group (Seth Klarman)
New: Citigroup (C), Liberty Ventures (LVNTA), The Liberty Braves Group (BATRK), Paratek Pharmaceuticals (PRTK), Cascadian Therpeutics (CASC), Och-Ziff Capital Management (OZM), The Liberty Braves Group (BATRA)
Trimmed: Antero Resources (AR), PayPal Holdings (PYPL), Innoviva (INVA), NovaGold Resources (NG)
Added: EMC Corporation (EMC), Allergan (AGN)
Exited: La Quinta Holdings (LQ), Genworth Financial (GNW), Bellatrix Exploration (BXE)
JANA Partners (Barry Rosenstein)
New: Liberty Broadband Corporation (LBRDK), Coca-Cola European Partners (CCE), Expedia (EXPE), Harris Corp. (HRS), Pinnacle Foods (PF)
Trimmed: Walgreens Boots Alliance (WBA), ConAgra Foods (CAG)
Exited: Pfizer (PFE)
Omega Advisors (Leon Cooperman)
New: Arris Group (ARRS), Shire Plc (SHPG), Citigroup (C), Netflix (NFLX)
Trimmed: Realogy Holdings Corp (RLGY)
Added: PVH Corp (PVH), Chimera Investment Corporation (CIM), Ashland (ASH)
Exited: Sirius XM Radio (SIRI), Gilead Sciences (GILD)
Starboard Value (Jeff Smith)
New: Infoblox Inc (BLOX), Medivation Inc. (MDVN(call)) Delek US Holdings (DK), Pinnacle Entertainment (PNK)
Trimmed: Darden Restaurants (DRI), Macy’s (M), Insperity (NSP), Four Corners Property Trust (FCPT)
Added: Advanced Auto Parts (AAP), WestRock (WRK), Brinks Company (BCO)
Exited: Aecom Technology Corp (ACM)
Third Point LLC (Daniel Loeb)
New: Facebook (FB), Charter Communications (CHTR), Monsanto (MON), Sherwin-Williams (SHW),
Trimmed: Baxter International (BAX), Allergan (AGN), Dow Chemical (DOW) , Chubb Limited (CB), MHK, GOOGL, Yum! Brands (YUM), Sealed Air Corporation (SEE), EMC Corporation (EMC), Molson Coors Brewing Company (TAP)
Added: Danaher Corp (DHR), Constellation Brands (STZ), TransDigm Group (TDG), Anheuser-Busch InBev (BUD)
Exited: Twenty-First Century Fox (FOXA), Roper Technologies (ROP), Amgen (AMGN), Signet Jewelers (SIG)
Tiger Management (Julian Robertson)
New: Shire Plc (SHPG), Microsoft (MSFT), Pandora (P)
Trimmed: Facebook (FB)
Added: Celgene (CELG), CommScope Holdings (COMM)
Exited: Netflix (NFLX), FedEx (FDX), Teva Pharmaceuticals (TEVA), Spirit AeroSystems (SPR)
Trian Fund Management (Nelson Peltz)
Trimmed: E. I. du Pont de Nemours and Company (DD)
Added: General Electric (GE), Sysco Corp (SYY), Mondelez (MDLZ), Bank of New York Mellon (BK)
Exited: Legg Mason (LM), Tiffany & Co. (TIF)
Viking Global (Andreas Halvorsen)
New: IntercontinentalExchange (ICE)
Trimmed: Allergan (AGN), Teva Pharmaceuticals (TEVA), Alphabet (GOOGL), Aetna (AET)
Added: T-Mobile (TMUS), Biogen (BIIB), MasterCard (MA), JD.com (JD), Anadarko Petroleum (APC)
Exited: Anthem (ANTM), Pfizer (PFE)
We are updating this as the filings come in. Be sure to check back for updates.
Julia La Roche is a finance reporter at Yahoo Finance.