Reuters: Technology News: Facebook gets liked by Tiger Consumer, shunned by Omega

Reuters: Technology News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

Facebook gets liked by Tiger Consumer, shunned by Omega Aug 14th 2013, 19:04 NEW YORK | Wed Aug 14, 2013 2:27pm EDT NEW YORK (Reuters) - Leon Cooperman's Omega Advisors soured on Facebook Inc in the second quarter, while Patrick McCormack's Tiger Consumer Management took a shine to the social networking company. Regulatory filings on Wednesday from hedge funds and other investment firms reveal how big money managers reshaped their portfolios in the quarter. Their so-called 13F filings with the U.S. Securities and Exchange Commission offer a window into the strategies of managers when it comes to buying and selling U.S. stocks. Omega, for instance, in the quarter sold 3.67 million shares of Facebook, according to the firm's regulatory filing. The hedge fund also took a new stake of 5.72 million shares in New Residential Investment Corp, a mortgage real estate investment trust. Tiger Consumer, meanwhile, added 1.2 million shares of Facebook, bringing its total holding to 4.8 million shares. The hedge fund also raised its position in struggling retailer J.C. Penney to 5.4 million shares, from 3.37 million at the end of the first quarter. Four times a year, U.S. securities regulators require managers to include their U.S. stock holdings on a 13F filing. But small investors seeking to mimic the actions of big money managers should be wary because the filings are merely a snapshot of how a top hedge fund's stock holdings looked 45 days earlier. These filings do not reflect more recent buying or selling activity by a fund. Here is a capsule summary of some of the top managers' filings for the second quarter. Eton Park Eric Mindich's Eton Park hedge fund jumped into Sprint Corp with a 13 million share position in the second quarter. The fund also substantially increased its stake in News Corp, to 17 million from 5.75 million shares at the end of the first quarter. Coatue Management Philippe Laffont's Coatue increased its stake in Apple Inc from some 400,000 shares to 1.6 million shares. The fund cut its position in Green Mountain Coffee Roasters by 2 million shares, leaving it with roughly 3 million shares at the end of the second quarter. Farallon Capital Management The San Francisco based hedge fund, like Eton Park, also took a big stake in Sprint in the second quarter, reporting a new 13.8 million share position. The fund, founded by Thomas Steyer, sold all of its 2.9 million shares in snack food manufacturer Mondelez. The fund also upped its position in Dell Inc, which is embroiled in a takeover battle, to 16.8 million shares from 2.4 million shares at the end of the first quarter. (Reporting by Katya Wachtel, Svea Herbst-Bayliss and Samuel Forgione; compiled by Matthew Goldstein) Link this Share this Digg this Email Reprints

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions