Two Sigma, Holocene added Tesla shares before fourth-quarter tumble

Hedge funds Group One Trading LP, Two Sigma Investments LP and Holocene Advisors LP were among the largest purchasers of Tesla Inc (TSLA.O) stock during the third quarter, filings released Monday showed.

Group One Trading added a new position of slightly more than 1 million shares, giving it a market value of nearly $276 million as of Sept. 30. Two Sigma, meanwhile, added nearly 323,500 shares for a stake worth $14.7 million as of the end of September, while Holocene Advisors added nearly 319,000 shares for a stake worth about $84.6 million.

Tesla’s shares have fallen significantly since the end of the quarter, dropping 16% compared to the 11.4% gain in the benchmark S&P 500 index.

Hedge funds and other large institutional investors are required to file quarterly reports, known as 13-fs, that offer a snapshot of their portfolio at the end of the quarter. While backward looking, these filings are one of the few ways that funds reveal their holdings.

The Maryland State Retirement and Pension System and Abbot Financial Management Inc were among the few large investors who shed their full stake in Tesla during the quarter, filings show.