Tiger Funds Change Some Stripes
Falcon Edge, Light Street, Lone Pine, Viking, and Hound made significant buys and sells in the third quarter.
Falcon Edge Capital Management exited its two largest U.S. long positions in the third quarter, according to its recently filed 13F document.
This is very unusual.
Hedge funds seldom liquidate their largest long position, let alone their two largest. Rather, they often first cut — or slash — their top positions before subsequently disposing of them altogether.