3. Freeport-McMoRan Inc (NYSE:FCX)
Investors with Long Positions (as of June 30): 41
Aggregate Value of Investors’ Holdings (as of June 30): $581.83 Million
Freeport-McMoRan Inc (NYSE:FCX), another stock that makes JPMorgan’s list, was owned by 31 hedge funds at the end of the first quarter, with the value of investments in the stock sitting at $258.10 million. The U.S-based natural resources company has had a rough year, as its shares have lost half of their value since the beginning of the year. Freeport-McMoRan recently announced its revised capital and operating plans in response to the decline in copper prices. Hence, the company reduced its 2016 mining capital expenditures by $700 million or 25%, but also announced a 20% reduction in estimated 2016 unit site production and delivery costs as compared to the estimated levels of 2015. Carl Icahn’s Icahn Capital LP recently initiated a large activist stake in Freeport-McMoRan Inc (NYSE:FCX), consisting of 88.0 million shares.
2. General Electric Company (NYSE:GE)
Investors with Long Positions (as of June 30): 70
Aggregate Value of Investors’ Holdings (as of June 30): $3.72 Billion
General Electric Company (NYSE:GE) received a vote of confidence from the smart money during the second quarter, as the number of hedge funds bullish on the stock increased by eight quarter-over-quarter. Similarly, the value of the money invested in the stock increased to $3.72 billion from $3.13 billion during this time span. The company’s stock performance has been quite stable throughout 2015, with its shares delivering a return of over 2% year-to-date. On Wednesday, General Electric announced that it had sold a $3.7 billion portfolio of loans to Kensington Mortgage Co Ltd, in an attempt to divest its financing arm, GE Capital. During the second quarter, John Smith Clark’s Southpoint Capital Advisors purchased a new stake in General Electric Company (NYSE:GE) comprised of 4.0 million shares.
1.HCA Holdings Inc (NYSE:HCA)
Investors with Long Positions (as of June 30): 83
Aggregate Value of Investors’ Holdings (as of June 30): $5.02 Billion
83 investors tracked by the Insider Monkey team had long positions in HCA Holdings Inc (NYSE:HCA) at the end of the latest quarter, compared to only 69 following the first quarter. By the same token, the value of the overall positions leapt to $5.02 billion from $3.68 billion. The company’s CEO, Milton Johnson, claims that most of HCA’s growth can primarily be attributed to its organic expansion, simply because regulatory controls hinder market share expansion via acquiring players in the market. HCA’s organic growth has assisted the company in delivering great stock performance thus far in 2015, with its stock advancing by 16% since the beginning of the year. Larry Robbins’ Glenview Capital owns 5.18 million shares of HCA Holdings Inc (NYSE:HCA) as of June 30, accounting for 1.86% of its portfolio.
Disclosure: None
