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14

Hedge Funds Added Tech Stocks Ahead of Trump Victory Sell-Off

By Tony Seruga

1468367029_stock trader Photographer: Eric Thayer/Bloomberg

Tiger Global, Coatue, Appaloosa also piled into tech
Tudor bet on financial institutions that have since surged

Marquee money managers including Moore Capital Management and Point72 Asset Management boosted their holdings of technology firms in the third quarter, before the U.S. presidential election spurred a selloff in the industry.

Louis Bacon’s Moore Capital almost doubled its holding in Facebook Inc. to about $103 million as of Sept. 30, and took a stake in Internet giant Alphabet Inc., the parent company of Google, according to government filings Monday. Point72, the family office for billionaire Steve Cohen, built a $337 million stake in Alphabet Class A shares, its biggest new buy for the period, while Chase Coleman’s Tiger Global Management took a $221 million position in the company. Tiger also bought $568 million worth of Alibaba Group Holding Ltd. shares that trade in the U.S…

Hedge Funds Added Tech Stocks Ahead of Trump Victory Sell-Off

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