Hedge Funds Pick Winners and Losers in Quarterly Beauty ContestBy and
Altaba, which controls Yahoo!’s Alibaba stake, is favorite
Facebook is the most sold stock in the second quarter
Hedge fund managers from Dan Loeb to Ken Griffin anointed a new crop of darlings -- and rejects -- in the second quarter.
At the top of the list of favorites is Altaba Inc., the holding company that controls Yahoo! Inc.’s stake in Chinese e-commerce giant Alibaba Group Holding Ltd, according to regulatory filings Monday. The most disliked stock is the once-beloved Facebook Inc., which saw hedge funds sell $2.6 billion in shares during the quarter. Viking Global Investors, which has been returning money to investors, is the biggest seller of Facebook.