Home
|
|
|
Events
|
Press Releases
|
Subscribe
Type
Thought Leadership
Product Insight
Subscribe ‚úČ
Market and Economics
Portfolio and Risk
Companies and Earnings
Topical and Trends
Category
Fact Sheets
Tools and Tips
Webcasts
White Papers

Q3 2012 changes in the holdings of the top 50 hedge funds - AIG, COF, AAPL names of interest

Nov 19, 2012

The 50 largest hedge funds increased their equity exposure by 3% despite nearly half of the managers (twenty-three of fifty) showing a decrease in equity assets for Q3 2012.

On a security-level, two of the stocks that received the most interest during the quarter included AIG and Capital One Financial Corp. The aggregate portfolio of funds more than doubled their exposures, as the market value acquired was 210.7% and 111.2%, respectively, of the starting portfolio values in Q3. As the second and fourth largest institutional buyers of AIG over the quarter, OZ Management LLC and Third Point Management Co. LLC were the most bullish of the top 50 hedge funds. Both investors are now among the top ten largest shareholders of AIG, and each has over ten percent of its equity portfolio exposure in the stock (10.8% and 14.7%, respectively).

On the other hand, while Apple remained in the majority of the hedge fund portfolios and remained the top holding of 12 of the 50 hedge fund companies, the stock experienced the largest decrease in holding value of all stocks in the funds’ aggregate portfolio in Q3 2012. The portfolio of funds reduced their exposure by 1.8 million shares over the quarter, or $1.2 billion at Apple’s quarter-end price of $667.11. The funds’ shifting sentiment towards Apple seems to be prescient in this case—the stock closed the quarter just 5% off its current 52-week high, and has since dropped 20.9%. The most active sellers in the third quarter included Lone Pine Capital LLC, Renaissance Technologies LLC, and Greenlight Capital, Inc. Third Point Management Co. LLC, however, was a large buyer over the quarter.

Read more about the ownership trends of hedge funds in this quarter's edition of FactSet Hedge Fund Ownership Quarterly. Visit www.factset.com/hedgefund_ownership to launch the latest report.

Receive stories like this to your inbox as they are published. Subscribe by e-mail and follow @FactSet on Twitter. If you are looking to source FactSet data or analytics in your publication, email media_request@factset.com.