ValueWalk covered the Q1 13F filers from the top hedge funds and there were a few frequently picked stocks that stood out, and some sells that were ubiquitous in many filers. Before we get into our takeaways, lets take a look at what FactSet is saying. FactSet, which analyzes the quarterly holdings of the 50 largest hedge funds, noted that The Boeing Company (NYSE:BA) has suddenly become very popular, as the stock took $1.6 billion in inflows, an increase of 250 percent in ownership since Q4.
Buyers of Boeing
Andreas Halvorsen’s Viking Global bought the largest stake in The Boeing Company (NYSE:BA) in Q1—the fund added 12.37 million shares of the aircraft manufacturer. Barry Rosenstein’s JANA Partners and Renaissance Technologies also opened new positions with 1.55 and 1.1 million shares each.
Tiger grandcub Hoplite Capital bought 537k shares of Boeing in the last quarter. Adage Capital increased its position and now holds 2.7 million shares. SAC Capital, Soros Fund and Bridgewater Associates also hold smaller positions in the stock, which were boosted in the past quarter.
Buyers and Sellers of Virgin Media
Virgin Media Inc. (NASDAQ:VMED) popped in and out of 13F filers so frequently that it was dizzying. FactSet also notes that VMED came up as a favorite pick in Q1, however we also noted several exits. Coatue Management, Viking Global, Lansdowne Partners and SAC Capital all exited the position in the last quarter whereas Blue Ridge Capital reduced their holding from 4.6 million shares to 1.65 million over the same period.
New buyers of Virgin Media Inc. (NASDAQ:VMED) were Third Point LLC, buying 11 million shares, Farallon Capital bought 7.9 million shares, Lone Pine Capital bought 5.65 million, York Capital jumped in with 4.87 million, Elliott Associates bought 2.88 million shares. Taconic Capital, Renaissance Technologies, Adage Capital and Hutchin Hill, all bought new positions in the entertainment company. Admittedly, the amounts of VMED sold among the top investors was less than what these funds bought in the last quarter.
Buyers of Hess Corp
Hess Corp. (NYSE:HES) was bought by almost every hedge fund, and the list of new comers in this holding is endless. The largest buy was executed by Elliott Associates which rocketed its holding from 1.2 million shares to 15 million, making it its top holding and thus inducing every one else to buy the same position. As Elliott began its agitation of Hess’ board, several hedge funds jumped in and bought major stakes. Paulson & Co. bought 2.69 million shares, Steadfast Capital 1.99 million, York Capital 1.86 million, Greenlight Capital 1.24 million, Third Point 1 million, Taconic Capital 900k, Michael Price 550k, and David Tepper bought 479k shares of Hess Corp. (NYSE:HES).
SAC Capital remains the only one that slashed its holding and sold 1.08 million shares of Hess, thus reducing its position to 340k shares.
Buys and Sells in Apple
Several hedge funds continued to exit Apple Inc. (NASDAQ:AAPL) inthe last quarter, and funds who exited the company entirely in Q1 were York Capital, Tudor Investment, Tiger Management, Renaissance Technologies, Discovery Capital, Pennant Capital and Blue Ridge Capital. David Tepper, Chase Coleman and George Soros made major reductions to their holdings.
Richard Perry and Jim Chanos bought new positions in Apple Inc. (NASDAQ:AAPL). Greenlight Capital, Coatue Management, Glenview Capital, SAC Capital, and Maverick Capital boosted their stakes in Apple.
Buyers of Dell
Like Hess and Elliott, romance and reconciliation sprung many new stakes. Icahn and Dell also encouraged new positions. The largest new position was opened by Highfields Capital when the firm bought 22.8 million shares, next was Taconic Capital which bought 19.28 million shares, Alden Global, Moore Capital, Glenview, AQR Capital, Farallon Capital and GAMCO all bought new stakes in the PC maker in Q1.
Buyers of Comcast
Comcast Corporation (NASDAQ:CMCSA) was also a favorite among large hedge funds. Blue Ridge Capital, Tiger Global, JAT Capital, Appaloosa Management and Odey Asset Management bought major new positions. Lansdowne Partners and Viking Global boosted their existing stakes.
Starz Frequent Sell
The spun out unit of Liberty Media, Starz (NASDAQ:STRZA) has been a frequent sell in the last quarter. Almost everyone got out of the investment. Tiger Global, JAT Capital, Maverick Capital, JANA Partners, York Capital, Hutchin Hill, Adage Capital, all sold out their entire stakes in the company. Berkshire Hathaway held onto its position in the media company while Tiger Consumer and SAC Capital boosted their stakes.