Tiger Cubs Tune Into Spotify, PointState Likes Facebook: 13Fs

Saijel Kishan and Alan Mirabella, Bloomberg News

Aug 14, 2018

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(Bloomberg) -- Spotify Technology SA was a big winner among hedge fund investors in the second quarter.

Several firms disclosed owning stakes in the music-streaming company, including so-called Tiger Cubs Maverick Capital and Coatue Management. Spotify went public in April and shares have climbed about 47 percent since then.

Here are more key takeaways from the TOPLive blog of hedge funds’ 13F regulatory filings:

  • Facebook Inc. also proved popular among big-name hedge fund managers. Unfortunately for them -- if they still held the positions after June 30 -- shares of the social-media company fell by a record in July. PointState Capital, a hedge fund run by proteges of legendary trader Stan Druckenmiller, bought a stake in Facebook that was worth $265 million at the end of June, while Druckenmiller’s Duquesne Family Office bought shares of the company that were worth $178.4 million.
  • A number of hedge funds added shares of NXP Semiconductors NV. That also hasn’t done well -- the stock has tumbled almost 17 percent since June 30 after Qualcomm scrapped its $44 billion bid.
  • Several investors made moves in 21st Century Fox Inc. during the second quarter. Seth Klarman’s Baupost Group added shares of the media company, which is now his hedge fund’s largest holding. Shareholders last month approved Walt Disney’s takeover of the company’s entertainment assets.
  • David Tepper’s Appaloosa Management boosted its stake in Micron Technology to $2.13 billion, adding 5 million shares.
  • Warren Buffett’s Berkshire Hathaway boosted its investments in Goldman Sachs Group Inc., US Bancorp, Delta Air Lines Inc. and Southwest Airlines Co.
  • For more 13F highlights, see here

--With assistance from Katia Porzecanski, Melissa Karsh, Charles Stein and Katherine Burton.

To contact the reporters on this story: Saijel Kishan in New York at skishan@bloomberg.net;Alan Mirabella in New York at amirabella@bloomberg.net

To contact the editors responsible for this story: Anny Kuo at akuo1@bloomberg.net, Giulia Camillo

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