Complete Latest Hedge Fund Holdings Analysis
The fine folks at Street of Walls have been kind enough to provide us with their latest 13F breakdown which looks at the position changes across America's 30 largest and most important hedge funds. While we have already focused on some of the more entertaining ones, and tracked the recent rush back into gold, those curious about what the latest hedge fund hotel stocks are (aside from Apple of course) are encouraged to peruse the following exhaustive report.
Some highlights:
- The most crowded new ideas during the quarter were DLPH, LMCA, and GLD. Other new positions shared among hedge funds but with less overlap were ORCL, VRUS, QCOM, YHOO, URI, TXN, WFC, and GOOG.
- Fund managers are adding exposure back into Financials and Healthcare after huge declines the last several quarters. Government reimbursement risks associated with the Healthcare sector and low rates and mortgage related put-back problems in Financials may have led managers to trim and exit positions within the space over 2Q11 and 3Q11 and re-enter under attractive valuations in 4Q11.
- We found a majority of hedge funds largest positions were shared amongst the hedge funds in our universe. AAPL was by far the most crowded position in the top 8 holdings for hedge funds: Greenlight, Lone Pine, Blue Ridge, Coatue, and Tiger all have AAPL as the largest position in their holdings. Other large crowded positions include GOOG, QCOM, LMCA, and AMT.
- On average the funds listed below bought companies with a 2011 forward price to earnings ratio of 18.6x. Appaloosa and Baupost bought into the higher valuation stocks at 47.4x and 28.6x respectively while Glenview and Greenlight bought into much lower valuations at 13.4x and 14.1x respectively.
And visually:
Full report:
(2 votes)
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GOLD
Yep. If you can't touch it, you don't own it.
I do have to admit Tyler, you're doing God's work providing access to all this information and analysis. Thanks, man!
Thorough analysis. Well done. Having read this report, it must also be noted just how many "retail" investors are also, by extension, crowded into these trades in "standing room-only" fashion, in the form of the multitude of mutual funds mimicking the hedge fund trade. All one has to do is peruse the top ten holdings of the top four or five equity ( and balanced ) funds at, for instance, Fidelity Investments ( Contrafund, Growth Company Fund, Dividend Growth, Puritan, Magellan, &c. ), and we see that, in the case of a total hedge fund meltdown, the collateral damage to retail will be considerable.
Well, for a fund that needs easy remote storage - so, explicitely DOESNT want delivery..... it could at least simply rent remote storage, preferably with quick access to an exchange.... that way, they'd at least be DIRECTLY buying "trust", instead of indirecly over a dozen hops. Or, if that still is too complicated for them, there is PHYS.
GLD, good luck with that.
O/T (dead thread, anyway) But this is something: http://hat4uk.wordpress.com/2012/02/22/slog-prediction-vindicated-as-fit...
"Yeah. We don't need so many life boats on our new ship.. It's a pleasure cruise, unsinkable. Eliminate 100 more to pick up speed!" Engineer Designer of Titanic meeting with new owners. Bon voyage.
Life is a shipwreck but we must not forget to sing in the lifeboats.
-- Voltaire
A fine, melodious day indeed -- as not a single one of my long positions are represented in this hedge fund/roach hotel scatterplot.
Hmm I don't see too much exposure for any stocks I own. That's probably a good thing. Wasn't DNDN a hedgie favorite last year before it went from 70 to 15 in premarket trading?
Provenge racketeering.
You're a fucking retard if you touch bio-tech's long.
Nazdaq 2.0.
nobody loaded up on sears?
Quick! Everyone run to the other side of the boat again!
Unrelated, but interesting. My anti-virus has detected a script/exploit virus on CNBC the last two days.
Must be something wrong with your anti-virus becuse CNBC can do no wrong. Just sayin'
/sarc
Windoze is to Operating System as
this: http://fingerprint.typepad.com/.a/6a00e5501e7049883401157189bc84970b-500wi
is to sixpack-abs! :>D
Kyle Bass' Hayman looks pretty focused...
"flight to safety in real assets."
Murray Rothbard
YHOO.
lmfao
That's why these geniuses (who can't lose no matter what, as they're investing OPM, and they get paid even if their awesome portfolios crash based on 2/20 or 4/40 floors) get paid the big FRNs.
Yep, every logic / rules that applies to stocks doesn't apply to GLD and vice-versa..... only at the zero-hedge sheeple convention
If retailers doesn't own stock, then it is bearish for stocks. But if retailers doesn't own gld, then it is bullish.
public Ticker TylersPick() {
//(Pretend to do) Complex analysis here
if (Sigma(Alpha(x) - Correlation(y) / Covariant(z) > 0)) {
tmpTicker= x;
}
z= alpha(q)+sinh(w)/theta(f);
BinaryTreeSortHashMapReverseEngineer(x, y, z, t);
GetMarketData(filterByMyOwnPreConceivedNotion);
return "GLD"; // What the hell, this is what the sheeple want to hear anyway,
}
AAPL the most crowded trade...that explains all the 600/1000/moon forecasts I keep reading. Still plenty of room for more downside IMHO.
http://pebblewriter.blogspot.com/2012/02/just-do-it-february-22-2012.html