Karthik Sarma’s SRS Investment Management led the pack of hedge funds holding positions in SolarCity Corp (NASDAQ:SCTY) at the end of the second quarter, reporting ownership of 8.0 million shares with a market value of $428.40 million. Canyon Capital Advisors, led by Joshua Friedman and Mitchell Julis, came in at number two, with an equity position of 3.03 million shares valued at $162.29 million. Passport Capital and Fir Tree Partners were among the other primary shareholders of the solar company, having 2.84 million shares and 1.86 million shares in their equity portfolio, respectively.
Robert Pitts’ Steadfast Capital Management initiated a new position in SolarCity Corp (NASDAQ:SCTY) of 1.15 million shares valued at $61.65 million during the second quarter. Think Investments and Point72 Asset Management also initiated long positions in the company. Among the hedge funds selling off their entire stakes in the solar panel leasing company, were JAT Capital Management, led by John Thaler, and Michael Hintze’s CQS Cayman LP. Balyasny Asset Management and Soros Asset Management were among the hedge funds trimming their stakes in SolarCity Corp (NASDAQ:SCTY) during the second quarter.