American and Swedish flags fly below Spotify Technology SA signage displayed outside New York Stock Exchange (NYSE) during the company’s first day of trading in New York, U.S. (Photographer: Michael Nagle/Bloomberg)

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

(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 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 Inc. scrapped its $44 billion bid for the company.
  • Several investors made moves in 21st Century Fox Inc. during the second quarter. Seth Klarman’s Baupost Group added shares of the media company and it’s now his hedge fund’s largest holding. Shareholders last month approved Walt Disney Co.’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.
  • Beleaguered hedge fund manager David Einhorn sold shares of Apple Inc. in the second quarter, before they continued their ascent this quarter. His Greenlight Capital trimmed its stake in the tech company by 486,000 shares, reducing the position to about $26.3 million as of June 30.
  • Warren Buffett’s Berkshire Hathaway Inc. boosted its investments in Goldman Sachs Group Inc., US Bancorp, Delta Air Lines Inc. and Southwest Airlines Co.
    Read More:
    • Hidden gems lurking inside the filings
    • Soros adds tech bets
    • Adage to York Capital: the 13F Wrap 
    • Roundup of activist funds 

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