Reuters – Top hedge funds shed their stakes in high-profile Internet names such as Netflix Inc and Groupon Inc in the first quarter, moving to peers viewed as more mature and less volatile.
High-growth Internet software and biotech companies were the darlings of 2013, but their shares started to fall sharply in early March. Netflix, last year’s biggest S&P 500 gainer and an important hedge fund holding, is down more than 24 percent from its closing high this year.
