NEW YORK ( TheStreet) -- Two of the most well-known activist investors are moving in opposite directions.Daniel Loeb's Third Point increased its stake in Yahoo ( YHOO) in the first quarter, according to a filing released late yesterday. He now owns about a 5.8% of the online media company. David Einhorn of Greenlight Capital exited his position in Yahoo. He had owned 3 million shares, while Loeb holds 70.5 million. Loeb forced Yahoo's board to oust its CEO, Scott Thompson, who joined only four months ago, during which time he revised the company's strategy and laid off 2,000 workers. The hedge fund manager accused Thompson of lying on his resume and questioned his credentials for running the company, which has been losing market share and posting lower revenue. Yahoo's stock price has traded in a tight range for the past few years as the company has had a hard time gaining momentum even as the tech sector has had a blockbuster start to the year. Loeb is focused on shaking up management and the board to turn the company and the stock around, though this is taking quite a bit of time. Einhorn must not believe a turnaround is in the cards for Yahoo at this point. The second company the two hedge fund managers don't agree on is Expedia ( EXPE). Einhorn of Greenlight opened a new position in the online travel company in the first quarter, during which time the stock rose 15%. The stock is up 25% since the close of the first quarter, thanks to a nice pop on a solid earnings report in late April. At the end of March, he owned almost 1% of the company. Loeb, on the other hand, may be kicking himself for selling out of his small position in Expedia. That is, unless he got back into the stock since the end of the first quarter. Other notable changes from last quarter for Loeb's Third Point include new positions in Apple ( AAPL), Google ( GOOG), Delphi ( DLPH), Royal Bank of Scotland ( RBS) and Cisco ( CSCO), to name a few. In addition to exiting the investment in Expedia, Loeb unloaded E*Trade ( ETFC), Sunoco ( SUN), Newell ( NWL), Sandisk ( SNDK) and Skyworks ( SWKS), among others. >>View Third Point's Portfolio Other notable changes last quarter for Einhorn's Greenlight include a new position in Computer Sciences Corp. ( CSC). The hedge fund sold out of First Solar ( FSLR), Broadridge ( BR), Travelers Cos. ( TRV), OmniVision ( OVTI) and Furiex Pharmaceuticals ( FURX), among others. >>View Greenlight Capital's Portfolio Hedge funds that manage more than $100 million are required to disclose their equity holdings, options and convertible debt on a Form 13F filed to the Securities and Exchange Commission within 45 days of the end of a quarter. Funds aren't required to report short positions betting on declines. -- Written by Lindsey Bell in New York. >To follow the writer on Twitter, go to Lindsey Bell.