Billionaire David Harding’s Top Stock Picks

2. Travelers Companies Inc (NYSE:TRV)

Travelers Companies Inc (NYSE:TRV), a Saint Paul, Minnesota-based insurance company, was also among Winton Capital Management’s top picks going into the third quarter. The fund raised its position in the stock by 69% to own 1.30 million shares with a market value of $125.77 million at the end of the second quarter. This pushed it to the second position among the biggest shareholders out of the hedge funds tracked by Insider Monkey. Vetr upgraded Travelers Companies Inc (NYSE:TRV) to a “Strong Buy” rating from a “Buy” rating, in a research report issued on Monday. The firm has given the stock a price target of $112.67, representing an upside of 12.82% to the current share price. This year has, however, seen the stock lose 5.52% of its share price, having lost 10.61% during the second quarter. AQR Capital Management, headed by Cliff Asness, was long in the stock with 2.52 million shares with a market value of $243.40 million, having raised its stake in the company by 30% during the second quarter. Jim Simons‘ Renaissance Technologies also held a notable position in the stock of 687,672 shares valued at $66.47 million. The fund raised its position in the stock by 1,980% during the second quarter to lift it to number three among the biggest shareholders of the stock from within our database.

1. Archer Daniels Midland Company (NYSE:ADM)

Lastly, we come to Archer Daniels Midland Company (NYSE:ADM), which emerged as Winton Capital Management’s top pick as of June 30. The fund had raised its stake in the company by 28% during the second quarter to close the period with 3.04 million shares valued at $146.60 million. The Decatur, Illinois-based food processing and commodities trading company recently announced a dividend payment of $0.28 per share payable on September 9, with the company trading ex-dividend from August 17. Archer Daniels Midland Company (NYSE:ADM) recently posted earnings per share of $0.60 for the quarterly period ended June 30, down from EPS of $0.79 during the same quarter last year. The company attributed its less-than-impressive second quarter performance on lower ethanol-production margins and dwindling demand for North American crops overseas. Year-to-date, the stock is down by 15.38%. AQR Capital Management was again a major shareholder among the funds tracked by Insider Monkey, having raised its position by 10% to 7.77 million shares with a market value of $374.52 million. Winton Capital Management came in second, followed at a distance by another quant fund, D E Shaw, which was founded by billionaire D. E. Shaw.

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