NEW YORK, May 15 (Reuters) - The following are some hot stocks and sectors in which hedge fund managers either took new stakes, added to or exited existing positions in the first quarter, filings with the U.S. Securities and Exchange Commission showed on Tuesday.
FACEBOOK INC Some managers appeared to be betting on a recovery in shares of the world’s largest social media company, which were hammered after a data privacy scandal erupted in mid-March. Suvretta Capital swooped in and opened a new position, buying 2.7 million shares. Viking Global Investors nearly doubled its position to 9 million shares, listing Facebook as the fund’s biggest position. Soroban Capital Partners also listed Facebook as a new position, owning 2.3 million shares. MYLAN NV Generic drug companies have been out of favor with investors and Leon Cooperman’s Omega Advisors sold out completely in the first quarter. Redwood Capital Management also exited, selling 100,000 shares. MGM RESORTS INTERNATIONAL Omega Advisors sold all of its 831,990 shares in the casino operator.
SOTHEBY’S The auction house attracted attention for activist investors a few years ago. Now Marcato Capital Management, one of the first to push for changes, has exited the position entirely, selling its remaining 646,291 shares. Similarly, Arrowstreet Capital and Broadview Advisors also exited. WENDY’S CO Melvin Capital nearly doubled its stake to 6 million shares. WYNN RESORTS LTD The casino company’s former chief executive resigned in February following allegations of sexual misconduct. Maverick Capital, Southeastern Asset Management and Thornburg Investment Management exited their stakes in the first quarter. But Melvin Capital, founded by one of Steven Cohen’s former fund managers, ramped up its position, buying 1.4 million shares to own 2.5 million. ZIMMER BIOMET HOLDINGS The medical device company is considering selling its dental products unit. Healthcor Management added to its position to own 2.3 million shares and Ceredex Value Advisors put on a new position to own 1.6 million shares. (Reporting By Svea Herbst-Bayliss; Editing by Jennifer Ablan and Meredith Mazzilli)