Hedge Funds Bought Netflix, Facebook in Rough Third Quarter
- Tech companies are focus of the most prominent fund companies
- Buffett’s Berkshire bought Occidental Petroleum and RH
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U.S. hedge funds bought shares of Facebook Inc. and Netflix Inc. despite steep declines in the technology darlings during a volatile third quarter.
Chase Coleman and David Tepper were among the money managers who increased their Facebook holdings during the three-month stretch that saw the social-media giant fall nearly 8%. Netflix was favored by firms including Lee Ainslie’s Maverick Capital Ltd. and Dan Sundheim’s D1 Capital Partners despite a 27% drop in the three months ending Sept. 30.