Wexford Continues to Slash Diamondback Energy Inc (FANG); Alibaba Group Holding Ltd (BABA) Among Fund’s Top New Picks

Unfortunately Alibaba has not proven to be the wisest of investments, down 17.75% year-to-date following quarterly results at the end of January that did not impress investors, with growth figures nearly double-digits below estimates. Alibaba did have a strong day on Wednesday however, with shares up nearly 5%, as the company opened its first U.S data center in Silicon Valley as it ramps up its global ambitions.

Unfortunately Alibaba has not proven to be the wisest of investments, down 17.75% year-to-date following quarterly results at the end of January that did not impress investors, with growth figures nearly double-digits below estimates. Alibaba did have a strong day on Wednesday however, with shares up nearly 5%, as the company opened its first U.S data center in Silicon Valley as it ramps up its global ambitions.

Wexford’s second new position was in Hemisphere Media Group Inc (NASDAQ:HMTV), with the fund opening a 710,600 share position last quarter. That amounts to a 5.86% passive position in the company, which we reported on back in January. Hemisphere Media is certainly another diversification prospect for Wexford. The company owns and operates a number of Spanish-language cable properties that air in the United States, Canada, and South America, including the cable movie network Cine Latino, and the Puerto Rican-centric news services WAPA and WAPA America. Hemisphere releases its fourth quarter and 2014 full year results on March 11. Pleasant Lake Partners, managed by Jonathan Lennon was another bullish new investor in Hemisphere Media last quarter, opening a 1.25 million share position.

Lastly is United Continental Holdings Inc (NYSE:UAL), which checked in as the third-most popular airline stock among billionaires at the end of the year. Wexford opened a new 128,500 share position during the fourth quarter, while simultaneously decreasing its holding in Delta Air Lines, Inc. (NYSE:DAL) by 57%, to 209,000 shares. Like most airline stocks, United Continental enjoyed a very strong 2014, up 81.87%, and transportation stocks like United would appear to be the perfect hedge against the energy sector that Wexford may be looking for, as on the other hand, United reportedly looks to hedge itself against fuel costs for the next two years.

David Tepper’s Appaloosa Management was the top United Continental shareholder among our tracked funds at the end of 2014 with ownership of 4.92 million shares. Rob Citrone of Discovery Capital meanwhile opened a new position during the fourth quarter of 1.41 million shares.

Disclosure: None