Thursday, August 23, 2012

Hedge funds’ 10 most popular stocks


1. Apple was the top stock among hedge funds last quarter, and they just kept piling in. One-hundred-and-forty funds reported Apple stakes, up from 134 at the end of March. Bain Capital's Brookside Capital was one of the funds jumping on the bandwagon, initiating a position of about 520,000 shares.

2. Google: One-hundred-and-fourteen hedge funds reported a position in Google, essentially unchanged from 115 in the first quarter. Billionaire Stephen Mandel 's position at Lone Pine Capital increased slightly and is now worth over $750 million.

3. Microsoft: Hedge funds left Microsoft in the second quarter. The tech giant had 98 hedge fund owners as opposed to 103 at the beginning of April, but it still held on to the #3 slot. Renaissance Technologies bucked the crowd, nearly doubling its position to 15.8 million shares.

4. Citigroup: This was another company that hedge funds generally left, with 83 hedge funds having a position (down from 97).

5. Bank of America: Eighty hedge funds reported a position in Bank of America, down from 87 at the end of the first quarter. Bruce Berkowitz was once again the top shareholder, at over 100 million shares. This one position was worth over $800 million at the end of June.

6. J.P. Morgan Chase: The London Whale fiasco didn't affect the hedge fund community much: Seventy-eight funds at the end of March, 78 at the end of June.

7. Qualcomm : Seventy-six funds disclosed long positions in Qualcomm, compared to 78 last quarter. Fisher Asset Management , run by billionaire Ken Fisher, increased its stake by over 60% to 9.3 million shares.

8. Pfizer : Pfizer crept up the list a bit as 75 funds reported positions in the health-care company, up from 74. Discovery Capital Management , added to its Pfizer position in the second quarter.

9. General Motors : Eighty-two hedge funds had owned shares of GM at the end of March, but that number fell to 75 by the end of June, as the auto market remained weak. However, David Einhorn added to Greenlight Capital's position, and the fund is the largest hedge fund shareholder.

10. Wells Fargo : Warren Buffett's favorite bank also saw a number of hedge funds leave. Seventy-two hedge funds owned shares of Wells Fargo, down from 81.

Source:  Insider Monkey


The information contained in this article does not constitute a recommendation, solicitation, or offer by D2 Capital Management, LLC or its affiliates to buy or sell any securities, futures, options or other financial instruments or provide any investment advice or service. D2, its clients, and its employees may or may not own any of the securities (or their derivatives) mentioned in this article.

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