Charles Schwab Corp (SCHW) Q2 Earnings, Revenues Best Wall Street Expectations

Hedge fund activity in Charles Schwab Corp (NYSE:SCHW)

When looking at the hedgies followed by Insider Monkey, SPO Advisory Corp, managed by John H. Scully, holds the biggest position in Charles Schwab Corp (NYSE:SCHW). SPO Advisory Corp has a $926.6 million position in the stock, contained in 30.44 million shares, comprising 12.7% of its 13F portfolio. The second-most bullish hedge fund manager is Theleme Partners, led by Patrick Degorce, holding a $351.2 million position in 11.54 million shares; 23.6% of its 13F portfolio is allocated to the company. Remaining hedgies that are bullish contain Glenn Greenberg’s Brave Warrior Capital, Lou Simpson’s SQ Advisors, and Thomas Steyer’s Farallon Capital.

Judging by the fact that Charles Schwab Corp (NYSE:SCHW) has witnessed bearish sentiment from the entirety of the hedge funds we track, logic holds that there is a sect of hedge funds who sold off their entire stakes heading into the second quarter. Interestingly, Robert Pohly‘s Samlyn Capital dumped the largest position of the 700 funds followed by Insider Monkey, 2.21 million shares worth an estimated $66.69 million. Ken Heebner’s fund, Capital Growth Management, also cut its stock, 2.07 million shares, which were valued at about $62.49 million.

Despite the beat, the clearly bearish sentiment of hedge funds makes us not recommend going long in Charles Schwab Corp (NYSE:SCHW) at the moment.

Disclosure: None