Here’s Where Hedge Funds Invested in the First QuarterBy and
Facebook tops list of stocks getting the most new investments
Many of the hedge fund darlings have been involved with deals
The favorite new bets by hedge funds ranged from the predictable Facebook Inc. to the less known VCA Inc., a pet-service provider.
Many companies attracting the most hedge fund money in the first quarter have either agreed to deals or closed them. Dow Chemical’s $78 billion merger with DuPont Co. is expected to close in August. Liberty Media Corp. purchased Formula 1 in January, Mead Johnson Nutrition Co. agreed to buy Reckitt Benckiser Group during the first quarter, and T-Mobile US Inc. has been in preliminary talks to merge with Sprint Corp.
Hedge funds also showered love on new media, Snap Inc., whose shares have been on a roller coaster, and the old, Time Warner Inc. What’s more, managers applauded the planned shakeup at railroad CSX Corp., and are relieved that the Trump administration’s efforts to build a wall at the border with Mexico, from where Constellation Brands Inc. imports much of its beer, has stalled.