Did Hedge Funds See Baidu.com, Inc. (BIDU) Being Pummeled By Gloomy Q3 Outlook?

What does the smart money think about Baidu.com, Inc. (ADR) (NASDAQ:BIDU)?

Of the funds tracked by Insider Monkey, Lone Pine Capital, managed by Stephen Mandel, holds the biggest position in Baidu.com, Inc. (ADR) (NASDAQ:BIDU). Lone Pine Capital has a $1.1 billion position in the stock, made up of 5.28 million shares, comprising 4.2% of its 13F portfolio. Coming in second is Coatue Management, led by Philippe Laffont, which holds a $628.9 million position in 3.02 million shares; the fund has 6% of its 13F portfolio invested in the stock. Remaining hedge funds that are bullish consist of Andreas Halvorsen’s Viking Global, William von Mueffling’s Cantillon Capital Management, and Rob Citrone’s Discovery Capital Management.

On the other side of the fence, Daniel S. Och‘s OZ Management sold off the biggest position in the first quarter of all the hedgies followed by Insider Monkey, dumping 921,800 shares worth close to $210.14 million. J Kevin Kenny Jr of Emerging Sovereign Group was right behind this move, as the fund manager dropped 845,700 shares worth about $192.79 million. Other bearish hedge funds were Christopher Lord’s Criterion Capital, Lei Zhang’s Hillhouse Capital Management, and Daniel Benton’s Andor Capital Management.

As hedge funds move away from Baidu.com, Inc. (ADR) (NASDAQ:BIDU), we recommend doing the same.

Disclosure: None