Hedge Funds Pick Winners and Losers in Quarterly Beauty Contest

  • 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.

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