Big hedge funds tiptoeing into energy and out of technology

Big hedge funds tiptoeing into energy and out of technology. A few hedge fund managers have been tiptoeing back into the beaten-down energy sector. While many investors, including Warren E. Buffett, were selling energy stocks in the final three months of 2014, several hedge funds sought to profit on the turmoil, regulatory filings showed on Tuesday. Third Point, the firm run by Daniel S. Loeb, acquired a sizable stake in the oil refinery company Phillips 66, while Leon G. Cooperman's Omega Advisors amassed a new position in Laredo Petroleum, and Viking Global Investors, led by Andreas Halvorsen, increased its stake in Cheniere Energy by several million shares. At the same time, other hedge funds reduced their holdings of technology stocks, including Apple and Alibaba, which had recently attracted investors in droves. (VIEW LINK)


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