Summary of Q3 Top Picks: Groupon, Nexen, AIG, GM, and Priceline

Summary of Q3 Top Picks: Groupon, Nexen, AIG, GM, and Priceline

Summary of Q3 Top Picks: Groupon, Nexen, AIG, GM, and Priceline

Now that all the 13fs have been filed, it is now time to probe into them. There are a few names that popup frequently and those are of course big tech names like, Apple Inc. (NASDAQ:AAPL), Google Inc (NASDAQ:GOOG) and Microsoft Corporation (NASDAQ:MSFT), and big banks like, JPMorgan Chase & Co. (NYSE:JPM), Citigroup Inc. (NYSE:C), Wells Fargo & Company (NYSE:WFC). Some hedge funds are adding more of these while others are selling entire stakes. A good example of mixed behavior is the case of Citigroup Inc. (NYSE:C), Perry Corp, Blue Ridge Capital, and Pershing Square exited their positions in Citigroup in the last quarter. But there are several others, like Appaloosa Management, Viking Global, Moore Capital Management LP, and Maverick Capital Management LP that bought the stock over the same period.

The large hedge funds always have a huge stake in these large cap stocks, however, there were some notable buys in the latest quarter.

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American International Group, Inc. (NYSE:AIG)

This is the stock that was bought by every other hedge fund and they did not just buy it, they made it one of their top holdings. According to Whale Wisdom 205 hedge funds initiated new positions in the insurance company in the third quarter, while 118 out of 672 have it in their top 10 holdings. Lets take a look at the big names which either disclosed a new position or bought more shares in American International Group, Inc. (NYSE:AIG).

Buy/Increase American International Group, Inc. (NYSE:AIG)

George Soros’ Soros Capital Management

Jana Partners

Eagle Capital

Leon Cooperman’s Omega Advisors

Steve Cohen’s SAC Capital Advisors

Dan Loeb’s Third Point

David Tepper’s Appaloosa

FPA Crescent Fund

Hoplite Capital Management

Whitney Tilson’s T2 Partners

Perry Corp (Richard Perry)

Argonaut Capital

Owl Creek

Caxton Associates (300 percent increase)

Highline Capital Management Llc (66 percent increase)

Karsch Capital (138 percent increase)

Ivory Investment Management. L.P. (96 percent increase)

Hilltop Park Associates (CALL Options)

Groupon Inc (NASDAQ:GRPN)

Surprisingly, Groupon Inc (NASDAQ:GRPN) the troubled daily deals website got some attention. There are several big names who bought it but the biggest so far is Soros Management with 2.5 million shares.  Chase Coleman of Tiger Global also saw some value here, and he invested in buying 1.3 million shares of Groupon Inc (NASDAQ:GRPN). JAT Capital increased their previous position by 1400 percent and now own 10.1 million shares of the company.

Paul Tudor of Tudor Investment, bought 150k Call options in Groupon Inc (NASDAQ:GRPN) and 42,800 shares of the daily deals company, whereas Legg Mason bought another 1.3 million shares to take their total to 7 million shares.

Nexen Inc. (NYSE:NXY) (TSE:NXY)

Nexen Inc. (NYSE:NXY) (TSE:NXY) came off as a serious buy in the last quarter. The opportunity to cash in on CNOOC Limited (NYSE:CEO) (HKG:0883)’s acquisition of Nexen likely was too lucrative to let go. There is a long list of funds that bought, held onto, or increased their holdings in Nexen Inc. (NYSE:NXY) (TSE:NXY). Among some of the famous funds who bought shares; Paulson & Co, Farallon Capital, Fairfax Financial Holdings Limited (TSE:FFH) (PINK:FRFHF) (Prem Watsa), Elliot Management Corp (Paul Singer), MFP Investments (Michael Price), Perry Corp (Richard Perry), Taconic Capital, Grantham, Mayo, and Van Otterloo & Co. LLC, (“GMO”) bought new positions in Nexen Inc. (NYSE:NXY) (TSE:NXY) in the last quarter.

Moore Capital also added another 1.27 million shares to its existing holding. Inc (NASDAQ:PCLN) Inc (NASDAQ:PCLN) kept popping up as a new buy of several hedge funds in the last quarter. The company is well liked and is generally thought to have huge potential for growth. Inc (NASDAQ:PCLN) was a favorite new position of Q3 for Highbridge Capital Management, JAT Capital, Highline Capital Management, Jana Partners, Tiger Management, and Ivory Investment Management. Whereas Lone Pine Capital, Tiger Global, and Viking Global have maintained a significant stake in the company since Q2.

General Motors Company (NYSE:GM)

General Motors Company (NYSE:GM) is liked by the influential investor, David Einhorn of Greenlight Capital, and he is certainly not alone in his love for the company. There are several others who placed fresh bets on the company, or are increasing their existing stakes. Lets take a look, Appaloosa Management, T2 Partners, Fairholme Fund (MUTF:FAIRX), Caxton Associates, Goldentree Asset Management, and Moore Capital  bought new positions in General Motors Company (NYSE:GM) in the last quarter.

Coatue Management (Philippe Laffont), Hilltop Park Associates, and Force Capital bought Call options in General Motors Company (NYSE:GM). Greenlight Capital, Soros Capital, and Warren Buffett’s Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) increased their previous holdings in the company.


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