Aug 14 As dozens of top hedge funds disclosed
their second-quarter stock holdings on Tuesday, few reported
owning shares in slouching social network Facebook Inc.
George Soros, Steve Cohen's SAC Capital Advisors and John
Thaler's JAT Capital Management were among the few that
disclosed owning Facebook stakes as of June 30. Chase Coleman's
Tiger Global Management, which invested in Facebook before it
went public, also listed a stake of almost 2 million shares.
Many more funds are rumored to be betting against Mark
Zuckerberg's creation. Funds and other large investors are not
obligated to disclose short positions in their quarterly
Shares of Facebook have tumbled 46 percent since the
company's initial public offering at $38 a share on May 18. The
shares on Tuesday shed almost 6 percent to close at $20.38 after
online daily deal provider Groupon posted disappointing
Facebook's $16 billion IPO was one of the largest ever and
valued the company at over $100 billion. Facebook's lockup
agreement, which prohibited further selling by insiders holding
some 1.9 billion shares, begins to expire on Aug. 16, which
could put further pressure on the share price.
Managers may also have bought Facebook shares at the IPO in
May or later, but sold them before June 30.