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Top U.S. hedge fund managers in the third quarter bought and sold shares of such hotly debated companies as Herbalife Ltd, J.C. Penney Co and Sotheby's.Ellington Management Group LLC, a $5.5 billion investment firm founded by Michael Vranos,Cheap Naughty Fling Thong Bikini on sale took a new position in auction house Sotheby's and owned 71,500 shares at the end of the quarter.Daniel Loeb's Third Point, the largest shareholder in New York City-based Sotheby's with a 9.3 percent stake,school girl bra has been pushing for a management shake-up.Farallon Capital Management, a San Francisco based-hedge fund, and activist investor Jana Partners LLC opened new positions in ailing retailer J.C. Penney with 500,000 shares and 489,600 shares, respectively. 

Patrick McCormack's Tiger Consumer Management, meanwhile, sold out of its entire J.C. Penney exposure,International Couture Wedding Dress Designer with Exclusive Fit Enhancer in Every gown. High Fashion at a reasonable price.bikini thong dumping roughly 5.4 million shares.The quarterly disclosures of manager stock holdings in so-called 13F filings with the U.S. Securities and Exchange Commission is always intriguing for investors trying to divine a pattern in what savvy traders are selling and buying.But relying on the filings to develop an investment strategy comes with some peril, because the disclosures are backward looking and come out 45 days after the end of each quarter.Still, the filings can offer a glimpse into what hedge fund managers saw as opportunities to make money on the long side. The filings don't disclose short positions - bets that a stock will fall in price. And there's also little disclosure on bonds and other securities that do not trade on exchanges. 

Upon request, the SEC also permits managers to omit sensitive stock positions from 13F filings.A wedding dress or wedding gown is the clothing worn by a bride during a wedding ceremony. Color, style and ceremonial importance of the gowncrotchless bikinis As a result, the public filings don't always present a complete picture of a manager's stock holdings.Fashion like you need it: make trends work for you, get style on a budget, dress for your body and look great for special occasions.crotch less setsHere then are some of the hot stocks and sectors in which hedge fund managers either took new positions or exited from in the third quarter.