Top Hedge Funds Buy Verizon, Ebay, Baidu; Sell GM

For the first time in a while, a non-techno name has come up as hedge funds’ top buy in the first quarter of 2014. According to FactSet’s quarterly report on hedge fund ownership, the largest 50 hedge funds increased their holdings in Verizon Communications Inc. (NYSE:VZ) by 320% quarter over quarter. The report says that roughly $3 billion of Verizon shares were bought in the first quarter by the hedge fund industry’s bigwigs. The report goes on to show that Lansdowne Partners, Adage Capital and Two Sigma Advisors are among the big hedge funds who made Verizon their largest new position. Lansdowne topped…