Growth stocks were among the favorites for new big-money hedge fund positions in the second quarter.
Monday was the deadline for hedge funds with more than $100M in assets under management, as well as other institutional investors and endowments, to report certain stock holdings through 13F filings. The 13F season gives investors a glimpse into where the big players are betting, albeit with dated information.
A number of hedge funds and money mangers looked to pick up beaten-down growth stocks, such as tech, in Q2. From April to June, the Nasdaq 100 ( NDX ) ( QQQ ) fell more than 22%, while the S&P 500 ( SP500 ) ( SPY ) was down about 16.5%.
Who's buying what? : Among the big-name disclosures, Warren Buffett's Berkshire-Hathaway ( BRK.A ) ( BRK.B ) boosted its stake in Activision ( NASDAQ: ATVI ) to ~68.4M shares from 64.3M. It also exited its stake in Verizon ( VZ ).
Soros Fund Management made a new investment in Tesla ( TSLA ) (~29.9K shares) and disposed of its stakes in MGM Resorts ( MGM ) and Solid Power ( SLDP ).
David Tepper's Appaloosa took new positions in Salesforce ( CRM ), buying 200K shares, Alibaba ( BABA ), acquiring 100K shares, and Netflix ( NFLX ), with 50K shares, during Q2.
In addition, Elliott Investment Management started a stake in Pinterest ( PINS ) and shed Twitter ( TWTR ), Ray Dalio's Bridgewater started positions in Rivian ( RIVN ) and Amazon ( AMZN ), the Gates Foundation turned to autos with Vroom ( VRM ) and Carvana ( CVNA ), and Carl Icahn eyed Bausch + Lomb ( BLCO ).
Dan Loeb takes aim at Disney : It wouldn't be 13F season without some hedge fund saber rattling. Dan Loeb's Third Point Capital revealed a new stake of 1M shares in Disney ( NYSE: DIS ) in its filing, but added in a letter directly to the company that in recent weeks it had "repurchased a significant stake."
Third Point lobbied for a refresh of the Disney board, made its case for an ESPN spinoff and also asked the FTC for permission to engage directly with the company .
Disney defended the composition of its board and noted that members have an average tenure of just four years .
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13F Roundup: Activision for Buffett, Soros in Tesla, Tepper likes Netflix