Hedge funds reported their first quarter 2010 long holdings yesterday.
Trend-wise, many hedge funds, like John Paulson’s, are continuing to buy up financial companies.
But some are trading one bank for another and ditching one healthcare company for another was also a hot trend last quarter.
We’ve rounded up the latest 13-F moves to give you a quick glimpse of what hedge funds are doing right now.
Lone Pine took a sizable stake in cognisant Technology Solutions, a provider of information technology, consulting, and business process. It's now their third largest holding.
(Total long portfolio: $11 billion) See the 13F filing.
Buffet sold Wellpoint (WLP) and UnitedHealth (UNH).
He also decreased his Kraft investment from around $3.6 billion to $3.2 billion.
Selling both helped him raise money to buy Burlington Northern railroad, which he did last quarter.
(Total long portfolio: $51 billion)
Thanks to Marketfolly.
Paulson bought more Bank of America: ~170 million shares, up from ~150 million for a total investment of $3 billion, CIT Group: ~4.5 million shares for ~$170 million total, Wells Fargo 17.5 million shares for ~$550 million (he bought into Wells Fargo in Q4 and upped his stake about ~$100 million).
Paulson also added to his gold positions, adding 4 new gold exposures in addition to its massive $3.4 billion stake in GLD: Anglogold ($1.7 billion), Kinross ($567 million), and Gold Fields ($297 million) and Novagold ($144 million).
Paulson sold out completely of Kraft. And Paulson bought a new position in MGM: 40 million shares for ~$500 million.
(Total long portfolio: $21 billion) See the 13F filing.
Thanks to Zerohedge
Greenlight sold out of ~$230 million worth (~6 million shares) of Cardinal Health.
Einhorn bought up more Pfizer instead: As of last quarter, his $50 million stake was up to $300 million (14 million shares).
And the fund bought up 4 million more shares of CIT Group in Q1, bringing his total investment to around 10 million shares worth ~$420 million.
(Total long portfolio: $3.1 billion) See the 13F filing.
Icahn's fund went contrarian and sold out of his entire near $300 million investment in CIT Group.
He was also actively managing his healthcare stocks: Exelixis decreased from $17 million to $14 million, Genzyme almost doubled up to $550 million, Regerneron upped about $4 million to $65 million, and Enzon Pharma dropped about $1 million to $29 million.
(Icahn's entire long portfolio is ~3.1 billion). See the latest 13F.
Shumway opened up a new $400 million stake in Kraft, scooped up over $300 million more worth of Apple shares (now he owns $750 million worth), $200 million Goldman Sachs shares (he now owns ~$300 million).
He also bought about $50 million more each of Pfizer and Teva stocks, and now has $350 million and $400 million invested in the pharma companies, respectively.
(Total long portfolio is $8 billion) See the 13F.
Falcone opened a $46 million new stake in Barclays, and an almost $300 million new stake in Citigroup (it was his biggest holding in Q1).
Harbinger also sold over $200 million worth of Calpine, a natural energy company and added about $100 million of SPDR Gold.
(Harbingers total long portfolio is $2 billion). See the 13F.
Soros chopped his Citigroup investment from $313 million to $43 thousand.
Soros also whittled his Pfizer holdings down about $200 million to a $90 million investment.
(Soros' long portfolio was $9 billion). See the 13F.
Third Point eliminated an over ~$80 million investment in Citi (which he had just bought in Q4) and picked up about $40 million more in CIT Group.
Loeb opened up a ~$60 million investment in Airgas, a company that distributes industrial, medical, and specialty gases, welding supplies, safety products, and tools online. And a small, $8 million investment in Kraft.
Also interesting: He got rid of an $8 million investment in fellow hedge funder Einhorn's fund, Greenlight.
(Loeb's total long portfolio is $1.4 billion) See the 13f filing.