Hedge funds had to publish their 13F filings on Friday, and that means we have insight into what the biggest names in finance were buying and selling in the second quarter.
There are a few standout investments: Tech-focused hedge fund Tiger Global took a big position in Netflix, while Jana Partners invested in Precision Castparts right before Warren Buffett announced a takeover of the company.
A number of funds also took positions in pharmaceuticals stock Perrigo, including Kyle Bass of Hayman Capital.
Alibaba was another stock to see hedge fund action in the second quarter. David Tepper’s Appaloosa Management bought into the Chinese e-retailer, while Tudor Investment Corporation — led by billionaire Paul Tudor Jones II — sold out.
Here is a breakdown of what the biggest names in finance were buying and selling in the second quarter, based on Bloomberg data on the top buys and sells by market value.
London-based hedge fund Odey Asset Management took new positions in Wells Fargo, Deutsche Bank, Yahoo, Nimble Storage, and JPMorgan, according to the fund's 13F. It sold out of IPG Photonics, Solaredge Technologies, Briggs & Stratton, Comcast, and JM Smucker.
Distressed-debt specialist Appaloosa, which manages in the region of $US20 billion, took three new positions in the second quarter: Apple, Alibaba, and Mylan. It sold out of Google and Micron Technology.
Tech-focused hedge fund Tiger Global took positions in JD.Com, Netflix, Priceline Group, Tableau Software, and Kate Spade in the second quarter. It sold positions in Alibaba, TransDigm Group, Charter Communications, Vipshop Holdings, and Liberty Ventures.
Eton Park Capital, which is led by ex-Goldman Sachs partner Eric Mindich, took positions in Perrigo, Google, SBA Communications, Williams Companies, and Broadcom in the second quarter, according to the fund's 13F filing. The fund sold out of Thermo Fisher Scientific, CDK Global, Liberty Ventures, Spirit AeroSystems, and Polaris Industries.
Paulson & Co took positions in Starwood Hotels, Broadcom, Teva Pharmaceutical, Oi, and PharMerica Corp. The hedge fund sold out of Popular, Zillow Group, Strategic Hotels & Resorts, Home Loan Servicing Solution, and Allied Nevada Gold.
Point72 took positions in Charter Communication, Avis Budget, Sclumberger, Coach, and Achillion Pharmaceuticals, according to the fund's 13F. It sold out of Gilead Sciences, Qualcomm, FMC Technologies, Goodyear Tire & Rubber, and Radius Health.
Astenbeck Capital Management took a position in Exxon Mobil in the second quarter and sold out of Murphy Oil and Energen.
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