Huge U.S. hedge funds regain ardor for FAANGs in first quarter: filings


Fb, Amazon, Netflix and Google logos are seen on this mixture picture from Reuters recordsdata. REUTERS/File Pictures

(Reuters) – Among the largest, highest-profile U.S. hedge fund buyers fell again in love with FAANGs within the first quarter, in line with regulatory filings launched on Wednesday.

After dumping shares of Fb Inc, Apple Inc, Amazon.com Inc, Netflix Inc and Alphabet Inc – the FAANG elements – distinguished hedge fund managers together with Tiger World Administration LLC have moved again into the favored group.

Tiger, managed by Chase Coleman, boosted its Fb stake by 64.5% to eight.Eight million class A shares throughout the first quarter, in line with a submitting with the Securities and Change Fee. It elevated its stake in streaming firm Netflix by 42.8% to 2.1 million shares.

T. Rowe Value additionally added Fb publicity throughout the first quarter, with a further 17.85 million shares.

Netflix shares closed up 2.7 p.c and Fb gained 3.1 p.c on Wednesday.

Quarterly disclosures of hedge fund managers’ inventory holdings in 13F filings with the SEC are one of some public methods of monitoring what the managers are shopping for and promoting. However the disclosures are made 45 days after the top of every quarter and should not mirror present positions.

Reporting by Jennifer Ablan; Enhancing by Leslie Adler

Author: Maxwell C.

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