Arrowstreet Capital’s Top Picks Include Philip Morris International Inc. (PM), AstraZeneca plc (ADR) (AZN) & More

Arrowstreet Capital was founded by Peter Rathjens, Bruce Clarke, and John Campbell in 1999. With assets under management of over $25 billion, the hedge fund uses mathematical and statistical models as a strategy of picking stocks. Learn why it’s crucial to track top-tier hedge funds’ quarterly 13Fs.

GlaxoSmithKline plc (ADR) (NYSE:GSK)

Let’s get back to Arrowstreet. During the second quarter of 2013, the hedge fund disclosed its largest stake in GlaxoSmithKline plc (ADR) (NYSE:GSK). The stake includes 10.2 million shares and is worth more than $510.5 million. During the second quarter of 2013, the hedge fund increased its stake in GlaxoSmithKline plc (ADR) (NYSE:GSK) by 45% or about 3.2 million shares, which moved it one position up in the equity portfolio.

The second-largest pick in the Arrowstreet equity portfolio is Philip Morris International Inc. (NYSE:PM), in which the hedge fund holds 5.1 million shares, worth $441.2 million, up by 397,309 shares over the quarter. The stock of Philip Morris International Inc. (NYSE:PM) has returned over 5% since the beginning of the year, and sports a P/E of 17.0x.

In AstraZeneca plc (ADR) (NYSE:AZN), Arrowstreet Capital disclosed a $291.5 million position, up from $166 million reported at the end of the first three months of 2013. The stake contains about 6.2 million shares, up by over 2.8 million shares over the quarter. The healthcare company AstraZeneca plc (ADR) (NYSE:AZN) has a year-to-date return of above 8% and trades at a forward P/E of 10.2x.

Next on our list is DIRECTV (NASDAQ:DTV), represented in the hedge fund’s equity portfolio by 4.5 million shares, worth $279.5 million. In the previous 13F filing, Arrowstreet Capital reported a $317.8 million stake in DIRECTV (NASDAQ:DTV), which contained 5.6 million shares. With a forward P/E of about 10.8, the stock of DIRECTV (NASDAQ:DTV) returned almost 23.5%.

And the last but not the least, we should mention 17.6 million shares of Corning Incorporated (NYSE:GLW). The stake is worth $250.6 million, up from $216.3 million disclosed at the end of March, when the stake comprised 16.2 million shares. The stock of Corning Incorporated (NYSE:GLW) returned over 20% since January and has a forward P/E of 10.6x.

On the whole, the market value of Arrowstreet Capital’s equity portfolio amounts to $13.4 million, up from $12.4 million reported at the end of the first quarter of 2013, and it involves over 800 positions.

Richard Chilton’s Chilton Investment Company, Philippe Laffont’s Coatue Management and Quincy Lee’s Ancient Art (Teton Capital) are also worth taking a look at.

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!