Why We’re Watching Microsoft Corporation (MSFT), Intel Corporation (INTC), And 2 Other Stocks

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Tekne Capital Management reported ownership of 167,000 Baidu.com, Inc. (ADR) (NASDAQ:BIDU) shares as of the end of June quarter, having a total value of about $27.58 million. The investment was profitable, as the stock returned 10.2% in the September quarter. Heading into the third quarter of 2016, a total of 56 of the hedge funds tracked by Insider Monkey were bullish on this stock, a 22% decline from one quarter earlier. Of the funds tracked by Insider Monkey, Scopia Capital, managed by Matt Sirovich and Jeremy Mindich, holds the most valuable position in Baidu.com, Inc. (ADR) (NASDAQ:BIDU). Scopia Capital has a $355 million position in the stock as of June 30, comprising 7.3% of its 13F portfolio. On Scopia Capital’s heels is William von Mueffling of Cantillon Capital Management, with a $343.7 million position. Jonathan Auerbach’s Hound Partners, Kerr Neilson’s Platinum Asset Management, and Ricky Sandler’s Eminence Capital were some of the other shareholders of the stock.

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Finally, Tekne Capital Management ended the second quarter with 514,195 shares of Cogent Communications Group, Inc. (NASDAQ:CCOI). The net worth of these shares was over $20.59 million at the end of June, but fell in value in the third quarter, as the stock lost 7.2%. Cogent Communications Group, Inc. (NASDAQ:CCOI) was in 16 hedge funds’ portfolios at the end of June. CCOI has seen an increase in hedge fund interest recently. There were 12 hedge funds in our database with CCOI holdings at the end of the previous quarter. Renaissance Technologies was the largest shareholder of Cogent Communications Group, Inc. (NASDAQ:CCOI), with a stake worth $61.5 million reported as of the end of June. Trailing Renaissance Technologies was Rivulet Capital, which amassed a stake valued at $32.4 million. Ulysses Management and Harvest Capital Strategies also held valuable positions in the company.

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Disclosure: None

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