This Is What Hedge Funds Bought And Sold In Q3: Complete 13F Summary Tyler Durden Mon, 11/16/2020 - 22:20 While we live in a time when the holdings of the top 20 Robinhood "investors" have far more information value for markets and other traders than a glimpse into what hedge funds are doing, not in the least because retail investors are outperforming both the S&P500 and hedge funds 10-to-1... ... unfortunately there is still no regulatory requirement for even superstar retail investors to disclose their holdings, which is why we have to be satisfied with the quarterly 13-F publication spectacle, which just concluded today, and which revealed that even as tech stocks suffered two correction shakeouts since early September, hedge funds mostly stuck with the "safety" of tech stocks during the third quarter heading into the election, even as some hedge funds trimmed Amazon.com as the dominant e-commerce platform thrived amid a pandemic-fueled surge in online shopping, while others sold Netflix Courtesy of Bloomberg, below is a snapshot of what some of the most prominent tech stock additions as disclosed by today's barrage of 13F filings: Coatue Management doubled its holdings of Tesla in the three months ended Sept. 30, making the electric-vehicle maker its second-biggest publicly disclosed holding. Assuming the fund held on, the bet proved prescient with the stock soaring in late trading Monday after it was announced that Tesla will enter the S&P 500 next month. Gabe Plotkin’s Melvin Capital Management bought an additional 2.5 million shares of Expedia Group Inc, while Stephen Mandel’s Lone Pine Capital added stay-at-home play DocuSign Inc. and snapped up more shares of Shopify Inc., Facebook Inc., Microsoft Corp. and Netflix Inc. D1 Capital and Soroban Capital Partners were among funds that increased their holdings in Microsoft. One recent initial public offering that received a lot of attention from hedge funds was Snowflake Inc. The software company was a top new buy for Berkshire, D1 Capital and Temasek Holdings. Not everyone added to their tech holdings, with some selling although it was not clear if funds that trimmed tech stocks did so because they’ve soured on the investments or if its part of a portfolio exposure plan to manage risk associated with soaring stocks. Dan Sundheim’s D1 Capital cut its stake in Netflix by 89% in the third quarter, selling more than 951,000 shares. That’s surprising given Sundheim has long held bullish views of the online-streaming service and last year said the stock could reach $1,000. So far, this has been a prescient move, with Netflix dropping 4.2% in the fourth quarter, as work from home stocks were hammered following vaccine news. Lone Pine trimmed holdings in Amazon.com Inc. and Zoom and pared its stake in Salesforce.com. Fellow Tiger-cubs Maverick, Viking and Tiger also trimmed their Salesforce holdings. David Tepper’s Appaloosa Management, Viking and D1 either reduced or liquidated their Amazon stakes. Work from home winner Netflix Inc. was trimmed by several funds, including Stanley Druckenmiller’s Duquesne Family Office, Appaloosa and Corvex Management, while Melvin Capital Management exited its stake. Maverick Capital boosted its exposure to tech by more than 9% in the third quarter. In the last quarter upped its stake in semiconductor equipment company LAM Research Corp. and business-payments company FleetCor Technologies Inc. Even though it sold some Facebook Inc. shares, the tech giant is still Maverick’s biggest U.S. long holding. As noted earlier, Berkshire Hathaway continued its trend of pulling back on certain financial bets in the quarter, cutting its Wells Fargo stake and JPMorgan Chase & Co. bet. The company also trimmed holdings in PNC and M&T Bank. Saudi Arabia’s sovereign wealth fund retrenched from its big jump into U.S.-traded stocks battered by the pandemic. The Riyadh-based Public Investment Fund cut its U.S. holdings to $7.0 billion from $10.1 billion during the third quarter, mainly by selling stakes in exchange-traded funds that track the real estate and materials sectors. That left a $2.7 billion stake in Uber Technologies Inc. as its largest U.S. traded holding. Finally, a quick look at what some of the marquee hedge funds bought and sold in Q3: ADAGE CAPITAL PARTNERS Top new buys: BMY, LSPD, SAGE, PH, OXY, TWTR, RKT, WEC, ANNX, CMI Top exits: PFE, CCK, TM, GRA, HSC, ATR, WM, SIRI, VMC, PCG Boosted stakes in: AMZN, JNJ, ST, BRK/B, HZNP, UPS, UAA, HON, DHR, TXN Cut stakes in: OTIS, ROST, CSCO, BAC, RTX, C, FIVE, ITT, FCX, BMRN APPALOOSA Top exits: AVGO, QCOM, VST, TSLA, HUM Boosted stakes in: PCG, MU, MSFT, ET Cut stakes in: AMZN, T, GOOG, BABA, FB, NFLX, PYPL, WFC, V, MO BALYASNY ASSET MANAGEMENT Top new buys: LULU, BAC, GOOGL, TJX, SNX, ROP, CARR, VAR, TMUS, XOM Top exits: JPM, FLT, NSC, C, NKE, AZN, SAIC, TWLO, LSTR, CTLT Boosted stakes in: MCD, CTSH, MDT, SWKS, WAT, CMCSA, RTX, TWTR, AJG, MSI Cut stakes in: FISV, QGEN, LITE, NXPI, QRVO, ITW, DKS, GM, LHX, HOLX BAUPOST GROUP Top new buys: PSTH, MU, AMAT, PEAK, HWM Top exits: AKBA, HCA, ABC, UNVR, VTR Boosted stakes in: PCG, SSNC, VRNT, HDS, VSAT Cut stakes in: EBAY, GOOG, TBPH, HPQ, FB, VIST, CLNY, FOXA, QRVO BERKSHIRE HATHAWAY Top new buys: ABBV, MRK, BMY, SNOW, TMUS, PFE Top exits: COST Boosted stakes in: BAC, GM, KR, LILAK Cut stakes in: WFC, JPM, PNC, GOLD, MTB, LBTYA, AXTA, DVA, AAPL BRIDGEWATER ASSOCIATES Top new buys: WMT, PG, KO, JNJ, PEP, MCD, ABT, MDLZ, EL, DHR Top exits: INDA, LMT, PM, FIS, MO, CI, FISV, ADP, AMT, TMUS Boosted stakes in: BABA, EEM, VWO, IEMG, COST, SBUX, JD, TGT, NIO, DG Cut stakes in: IVV, SPY, FXI, MCHI, EWY, EWZ, LOW, HD, SHW, SINA COATUE MANAGEMENT Top new buys: SNOW, RUN, Z, NUAN, LB, ZG, GPS, DECK, AEO, URBN Top exits: BA, HWM, SFIX, NOW, TDG, BBBY, TWTR, SKT, HD, AAP Boosted stakes in: TSLA, GPN, SQ, PLAN, UBER, SHOP, FB, DIS, DOCU, NFLX Cut stakes in: LBRDK, DXCM, SMAR, OKTA, MU, GH, DDD, SRNE, SDC, LRCX CORSAIR CAPITAL MANAGEMENT Top new buys: PSTH, ECPG, BERY, CCK, APG, PCG, GSAH, MS, LKQ, GVA Top exits: IWO, REPH, HGV, IWM, SMIT, GSL Boosted stakes in: VRT, GDDY, NATR Cut stakes in: QQQ, BXRX, PRSP, VOYA, PLYA, CHNG, STAR, HMHC, C, WMB CORVEX MANAGEMENT Top new buys: ILMN, FE, ACM, TWTR, DIS, ZEN, HCA, NAV, FIVE Top exits: IAA, CNC, TIF, FLMN, CZR Boosted stakes in: EXC, BABA, ATVI, CNP, ATUS, CMCSA, HUM, LYV, EVRG Cut stakes in: MSGS, AMZN, PCG, NFLX, ADBE, TMUS D1 CAPITAL PARTNERS Top new buys: U, IR, BEKE, BLL, DT, SNOW, OM, GDRX, ADI, CD Top exits: AMZN, AZO, FLT, BFAM, ESTC, TSM, SBUX, API, ALLO, HST Boosted stakes in: CVNA, JD, MSFT, EXPE, GOOGL, PNC, LYV, FB, RH, JPM Cut stakes in: BABA, NFLX, LVS, DHR, FIS, HLT, AVB, ORLY, PLAN, HPP DUQUESNE FAMILY OFFICE Top new buys: NUAN, GDX, NEE, XLI, EXPE, CVNA, PANW, ADI, SNE, NET Top exits: XBI, HD, WFC, CB, INSM, SRPT, AZO, MAR, CRWD, TCDA Boosted stakes in: MSFT, PENN, BABA, TMUS, SBUX, MELI, AMZN, JD, VZ, FIS Cut stakes in: JPM, PYPL, WDAY, GOOGL, BKNG, CCL, LYV, FSLY, REGN, NFLX ELLIOTT MANAGEMENT Top new buys: UNIT, CUB Top exits: T, RYAAY, SPR Boosted stakes in: DELL, CRMD Cut stakes in: WELL, RILY ENGAGED CAPITAL Top new buys: EVH, MX Top exits: SMPL Boosted stakes in: NCR, STKL, IWM Cut stakes in: MED, RCII GREENLIGHT CAPITAL Top new buys: SNX, NCR, TWTR, INTC, INGR, DDS, UHAL, ICPT, GHC, PANA Top exits: TPX, SATS, WHR, XELA Boosted stakes in: GLD, AAWW, JACK, REZI, NBSE Cut stakes in: AER, GDX, GPOR, CNX, APG, TECK, CC, CHNG ICAHN Boosted stakes in: IEP, XRX Cut stakes in: HLF, LNG IMPALA ASSET MANAGEMENT Top new buys: FDX, RKT, FCX, VALE, SBSW, FND, MHK, ALK, THO, AGQ Top exits: QCOM, HES, VAC, DOOO, MU, TGT, DKS, SKX, TJX, CRNC Boosted stakes in: KSU, WYNN, KNX, KL, CMI, SBLK, CNK, CENX Cut stakes in: RIO, SIX, DRI, HOG, TOL, ADNT, TTWO, NSC, MT, LPX LAKEWOOD CAPITAL MANAGEMENT Top new buys: LBRDK, TMUS, CWH, GLD, LOW, UPWK, SAIC, VVV, MIK Top exits: YNDX, BLDR, NKLA, SHAK Boosted stakes in: ABG, ANTM, COF, C, SKX, APO, BHC Cut stakes in: BIDU, BC, CI, CMCSA, CWK, AXS, GOOGL, WRK, FB, GS LANSDOWNE Top new buys: IDA, BLDP, EQT, CDE, LOOP, KCAC, RIDE Top exits: ONEM, GE, SMMT, GDX, AAL, NKE, SALT Boosted stakes in: FCX, TSM, OTIS, FSLR, EGO, DAR, ETN, COG, TMUS, AG Cut stakes in: C, MU, DAL, LRCX, AMAT, LUV, UAL, AES, ADI, VMC LONG POND Top new buys: GLPI, PGRE, EXPE, NTST, H, MGP, XHR, RLJ Top exits: FR, SEAS, INVH, MAR, HST, BXP, TRNO, DRH, ESRT, REXR Boosted stakes in: EQR, AVB, SHO, WELL, AIV, RHP, DEI, HPP, CPT, JBGS Cut stakes in: HLT, PEAK, WH, SBRA, MAA, MAC, HGV, LVS MAGNETAR FINANCIAL Top new buys: VAR, MXIM, MPLN, BMCH, GLIBA Top exits: QGEN, PAYA, UTZ, FSR, HYLN, CCC, PACB, SNY, PCG, IR Boosted stakes in: EHC, ABBV, GRUB, PIC, SYNH, NVS, PTAC, MRK, CHNG, AVTR Cut stakes in: UBER, VLDR, LCA, AZN, BDX, NOVA, HCAC, PRGO, PKI, PAE MAVERICK CAPITAL Top new buys: BX, NKE, GPN, BECN, GPRO, OSH, GME, MCD, LB, TGT Top exits: BTI, STNE, IRBT, SCHW, NTAP, GIS, CHGG, FL, PLCE, BIG Boosted stakes in: LRCX, GLW, TGTX, LOGI, FLT, PRSP, DD, AMAT, LIVN, AXP Cut stakes in: GOOG, NFLX, AVTR, DLTR, MSFT, APD, AMZN, FB, HUM, ALNY MELVIN CAPITAL MANAGEMENT Top new buys: ALGN, MCD, DDOG, TJX, AMD, MSCI, WDAY, SBAC, LYV, TEAM Top exits: CRM, FLT, FIS, CSGP, WEN, YUM, TWLO, NFLX, FB, VRSN Boosted stakes in: BABA, PINS, NKE, NOW, EXPE, ADBE, FISV, GOOGL, DOCU, LVS Cut stakes in: AZO, PYPL, AMZN, MSFT, DPZ, JD, RACE, DECK, CAR, BURL OAKTREE CAPITAL MANAGEMENT Top new buys: MEG, UNIT, VALE, AMX, CEO, EQR, GTXMQ, XPEV, LEA Top exits: TMHC, BABA, CZR, IHRT, CCO, SRNE, BCEI Boosted stakes in: TRMD, NMIH, IBN, EGLE, KC, TV, ASC, ITUB Cut stakes in: CCS, AU, TSM, PBR, MELI, BBD, API, GTH, INDA, BIDU OMEGA ADVISORS Top new buys: GOOGL, ATH, VRT, MSI, FVAC, EPD, MNRL Top exits: JPM, CNC, GTN, VICI, DNRCQ Boosted stakes in: COOP, OCN, ASPU, FCRD, NAVI, STKL, AMCX, ASH, FOE, SNR Cut stakes in: CI, PE, SRGA, GCI, NBR, LEE, ABR PERSHING SQUARE Cut stakes in: A, HLT, LOW SOROBAN CAPITAL Top new buys: ADI, PSTH, FISV, FIS, ARMK Top exits: NOC Boosted stakes in: YUM, ATUS, MSFT, CSX, RTX Cut stakes in: FB, SNE, AMZN SOROS FUND MANAGEMENT Top new buys: QQQ, PLTR, XLI, MCHP, U, VAR, MXIM, DIS, MCHI, NGHC Top exits: TDG, GRFS, BK, BAC, JPM, GS, PNC, USB, WFC, TFC Boosted stakes in: DHI, DRI, ARMK, GM, ATVI, PFSI, TIF, MT, CHTR, APTV Cut stakes in: IGSB, PCG, TMUS, NLOK, PTON, C, GOOGL, OTIS, LPLA, LQD STARBOARD Top new buys: SPY, CTVA Top exits: EBAY Boosted stakes in: ACM, ACIW, IWN, GDOT, IWR, MMSI, SCOR, BOX Cut stakes in: NLOK, AAP, IWM, CERN, CVLT TEMASEK HOLDINGS Top new buys: DCT, SNOW, SE, IAU, GOVT, SCHP, XLK, BNTX, EWT, IWM Top exits: FIS, VRT, PDD, NIO Boosted stakes in: PYPL, AMZN, IBN, HDB, DDOG Cut stakes in: TME, TMO THIRD POINT Top new buys: PCG, MSFT, TDG, FTV, EXPE, PINS, AVTR, CZR, PLNT, GDRX Top exits: BAX, RTX, NKE, EVRG, ATVI, TTWO, GPS, CNNE Boosted stakes in: BABA, JD, BKI, FB, V, BURL, INTU, TEL, ETRN, SHY Cut stakes in: GB, IQV, ADBE, DIS, AMZN, IAA TIGER GLOBAL Top new buys: SNOW, GSX, BEKE, SUMO, BIGC, JAMF, FROG, GDRX, CD, ASAN Top exits: NEWR, ATH, CHWY Boosted stakes in: PDD, CRWD, PTON, ZM, NOW, AMZN, UBER, WDAY, TEAM, MSFT Cut stakes in: SVMK, PYPL, TWLO, CRM, BABA TUDOR INVESTMENT Top new buys: NGHC, KDP, GDRX, VICI, HEC, FSLR, LIN, RXT, DLR, RPAY Top exits: SOXX, O, X, TMUS, TME, NLOK, SCHW, AVB, SJM, CDAY Boosted stakes in: GRUB, GLIBA, KC, BDX, GOOGL, AMT, TEAM, CVX, ADBE, AMD Cut stakes in: PCG, CRWD, UBER, ATHM, NFLX, SBAC, ESS, BXP, THO, BXMT VIKING GLOBAL INVESTORS Top new buys: TSM, AVB, AMD, RTX, GOOGL, CSGP, ZBH, BILL, BMY, OTIS Top exits: UBER, JD, CRM, PLAN, LOW, SHW, LIN, NFLX, DHR, BABA Boosted stakes in: MSFT, TMUS, MELI, FIS, CME, JPM, BKNG, PH, NUAN, HLT Cut stakes in: AMZN, CMCSA, CI, LVS, ALL, DRI, FTV, SE, RPRX, WDAY Source: Bloomberg