US hedge funds sour on Apple Inc, favor Dollar Tree Inc stores
Maverick Capital Management also increased its position in Family Dollar Stores, to 4.2 million shares from 2.8 million shares, during the fourth quarter. Family Dollar shares were losers in January, down 11.4 percent.
The quarterly disclosures of hedge fund stock holdings - in so-called 13F filings with the US Securities and Exchange Commission - are always intriguing for investors trying to divine a pattern in what savvy traders are selling and buying.
The filings also offer insight into how managers positioned themselves at year end to benefit from the big run-up in stock prices in early 2013.
But relying on the filings to develop an investment strategy comes with some peril because the disclosures are backward looking and come out 45 days after the end of each quarter.
Still, the filings can offer a glimpse into what hedge fund managers saw as opportunities to make money on the long side. The filings don't disclose short positions, bets that a stock will fall in price. And there's also little disclosure on bonds and other securities that don't trade on exchanges.
Here then are some of the hot stocks and sectors in which hedge fund managers either took new positions or exited from in the fourth quarter.
CONSUMER AND RETAIL
Farallon, founded by recently retired billionaire Thomas Steyer, took a new stake in retailer Sally Beauty Holdings of 4.7 million shares, and Jana initiated a new position in retailer Fifth & Pacific Companies (formerly Liz Claiborne
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