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Don’t Mistake Soros, SAC Holdings as Hedgies Bullish on Facebook

On Wednesday, pros were wondering if they should follow some of the Street’s biggest whales into Facebook .

According to the latest 13F filings, SAC, George Soros and Tiger all held shares of Facebook in the last quarter.

Although that may appear bullish, trader Josh Brown tells us looks may be deceiving.

“It’s a sign that a sales guy hooked up Soros, hooked up Cohen and the others," says Brown on CNBC's Fast Money Halftime Report. That's all.

"It’s not a large amount of stock. Their FB holdings are less than .25% of the total size of their funds. It’s not a sign that large hedge fund managers are buying today. I know that’s the buzz today but I would ignore that part of the story."

That’s not to say the pros would stay away from Facebook all together. They wouldn’t.

Trader Jon Najarian bought into the stock around $20.

And Josh Brown agrees that $20 is a key level. He says if the stock can hold that level after the lock-up, it suggests that $20 is the floor. But that doesn't mean the stock will start to climb anytime soon, he adds.

Posted by CNBC's Lee Brodie

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Trader disclosure: On August 15, 2012, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s "Fast Money" were owned by the "Fast Money" traders; Joe Terranova is long VRTS; Joe Terranova is long MCD; Joe Terranova is long SBUX; Joe Terranova is long WFM; Joe Terranova is long AAPL; Joe Terranova is long EMC; Joe Terranova is long NXPI; Pete Najarian is long AAPL; Pete Najarian is long C; Pete Najarian is long INTC; Pete Najarian is long YHOO; Pete Najarian is long SBUX; Pete Najarian is long FB; Pete Najarian is long MSFT; Jon Najarian is long call spreads in AAPL; Jon Najarian is long call spreads in ABX; Jon Najarian is long call spreads in GLD; Jon Najarian is long call spreads in JPM; Jon Najarian is long call spreads in HUN; Jon Najarian is long call spreads in CSCO; Jon Najarian is long call spreads in FB; Jon Najarian is long call spreads in GMCR; Jon Najarian is long call spreads in OAS; Jon Najarian is long STSI; Jon Najarian is long CBOE; Jon Najarian is long CME; Jon Najarian is long GLUU; Brian Kelly is long INGR

For Jurrien Timmer
Nothing to Disclose

CNBC.com with wires.