by Insider Monkey | May 21, 2014 6:13 am
As usual, after the end of the round of 13F filings, Insider Monkey has analyzed the equity portfolios of over 640 funds that we track and selected companies that are among the most popular picks
Research of 13F filings with the Securities and Exchange Commission shows that most popular small cap stocks can generate as much as 18 percentage points above the market in the long term (learn more details here). In the last 13 months Insider Monkey’s model portfolio managed to beat the S&P 500 by around 30 percentage points.
However, let’s talk about the most popular picks among hedge funds noticed in the latest round of 13F filings, which are mainly represented by companies that are among the leaders in their respective industries.
One of the main highlights of the first quarter’s top ten list is the decline of Apple Inc. (AAPL) in hedge funds, which moved the company to the eighth spot, the company being the third most popular pick at the end of last year.
Another interesting development was Google Inc (GOOG, GOOGL) seeing an increase in popularity, the company gaining the first spot on the list, with 149 hedge funds out of 644 reporting ownership of its shares. As of the end of last year, 170 funds held the company in their equity portfolio, which placed it on the second spot back then. Boykin Curry‘s Eagle Capital Management is one of the largest hedge funds tracked by us that revealed ownership of Google Inc (NASDAQ:GOOGL) shares, although, it has inched down its stake by 2,600 shares, currently holding close to 797,300 shares, worth $888.56 million. On the other hand, David E. Shaw seems to be more confident regarding the company’s prospects, boosting his position by more than 75% to 642,100 shares, valued at $715.58 million.
Moving down one position, General Motors Company (GM) is the second most popular position in equity portfolios of institutional investors tracked by us. Overall, 147 hedge funds reported holding stakes in the company, versus 183 in the previous quarter. Some of the largest investors have been limiting their exposure to General Motors Company (NYSE:GM) during the first three months of the year. Warren Buffett‘s Berkshire Hathaway sold 10.0 million shares of its holding, remaining with 30.00 million shares, with an aggregate value of $1.03 billion. David Einhorn‘s Greenlight Capital sold out its entire holding in General Motors Company (NYSE:GM), which earlier amassed almost 10% of its equity portfolio and contained 17.05 million shares. Harris Associates, managed by Natixis Global Asset Management, has solidified its position, adding 3.4 million shares to 63.54 million shares, worth $2.19 billion.
Next on the list is Microsoft Corporation (MSFT) in which 131 funds revealed long positions, significantly above 120 from the previous round of filings. Bart Baum‘s Ionic Capital Management is among hedge funds that initiated a position in Microsoft, currently holding some 982,700 shares, worth $40.28 million. Jeff Ubben‘s ValueAct is also bullish on Microsoft, raising the stake by 4.42 million shares, to 71.29 million shares, valued at $2.92 billion.
Sharing the third and fourth spot with MSFT, also with 131 funds invested, Citigroup Inc (C) moved up from the fifth place, although 143 fund reported shares in their portfolios at the end of 2013. Ken Fisher‘s Fisher Asset Management is the investor with the largest stake out of those we track, holding 11.07 million shares, with a reported value of $527.03 million. David Tepper‘s Appaloosa Management, on the other hand, purchased 400,000 shares of Citigroup Inc (NYSE:C), and currently owns 10.08 million shares.
With 130 hedge funds, versus 146 at the end of last year, American International Group Inc (AIG) comes in next. As it was in the past several quarters, Bruce Berkowitz‘s Fairholme is among the largest shareholders with a $3.78 billion stake, which contains 75.68 million shares, down by some 4.07 million on the quarter. Alex Snow‘s Lansdowne Partners has closed its position in American International Group Inc, which previously contained 921,900 shares.
As it was mentioned above, Apple Inc. (AAPL) is the eight most popular pick among hedge funds, with 129 of them reporting ownership of its shares, in comparison to 160 at the end of the previous quarter. Billionaire Carl Icahn has increased his stake in Apple to 7.54 million shares, valued at $4.05 billion, versus 4.73 million shares, as of the end of 2013. Greenlight Capital is one of the funds that reduced its holding in AAPL stock by 404,000 shares, to 1.99 million, valued at $1.07 billion.
The last two positions are held by one company that was on the previous top 10 list and another one that managed to climb several positions. On the ninth position is American Airlines Group Inc (AAL), in which 119 hedge funds revealed long stakes, up from 105 funds in the previous quarter. John Paulson‘s Paulson & Co has surged its holding, revealing a $445.15 million position, which amasses 12.16 million shares, up by 3.66 million shares on the quarter.
The last, but not the least is JPMorgan Chase & Co. (JPM). In this company, a total of 115 funds revealed holding stakes, three less than at the end of 2013. Harris Associates and Lansdowne Partners are among JPMorgan Chase shareholders, owning 27.29 million and 21.36 million shares, valued at $1.66 billion and $1.30 billion respectively. However, Harris has edged down its stake by 156,400 shares, while Lansdowne increased its position by 351,900 shares.
Disclosure: Alexandr Oleinic owns none of the aforementioned stocks.
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