HIGHLIGHTS-Top U.S. hedge funds bet on Netflix, Yahoo, consumer stocks

Mon May 16, 2016 6:14pm EDT
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(Adds Greenlight Capital, Carl Icahn)

By Svea Herbst-Bayliss and Sam Forgione

NEW YORK May 16 (Reuters) - Former SAC executive Gabe Plotkin's Melvin Capital took a new position in streaming video service Netflix Inc, buying 950,000 shares and a call option for 1.45 million shares, according to regulatory filings on Monday. Hoplite Capital also took a new position in Netflix, buying 236,456 shares, while Blue Ridge took a new position, buying 1.4 million shares.

But Julian Robertson's Tiger Management cut its position in Netflix by 38 percent to own 240,800 shares.

Melvin Capital also took a new position in Home Depot Inc , buying 475,000 shares. And Passport Capital added 3.3 million Yahoo Inc shares, upping its stake by 243 percent, filings show.

These hedge-fund SEC disclosures are backward-looking and come out 45 days after the end of each quarter. Still, the filings offer a glimpse into what hedge fund managers saw as investment opportunities.

The filings do not disclose short positions, or bets that a stock will fall. As a result, the public filings do not always present a complete picture of a management firm's stock holdings.

The following are some of the hot stocks and sectors in which hedge fund managers either took new positions or exited existing stakes in the first quarter.