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Have Hedge Funds Found A Hidden Gem in Guidewire Software Inc (GWRE)?

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Hedge funds and other investment firms run by legendary investors like Israel Englander and Ray Dalio are entrusted to manage billions of dollars of accredited investors’ money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to invest a greater amount of their resources in small-cap stocks than big brokerage houses, and this is often where they generate their outperformance, which is why we pay particular attention to their best ideas in this space.

Guidewire Software Inc (NYSE:GWRE) has seen an increase in activity from the world’s largest hedge funds of late. GWRE was in 22 hedge funds’ portfolios at the end of September. There were 17 hedge funds in our database with GWRE positions at the end of the previous quarter. At the end of this article we will also compare GWRE to other stocks including Taubman Centers, Inc. (NYSE:TCO), Toll Brothers Inc (NYSE:TOL), and Gentex Corporation (NASDAQ:GNTX) to get a better sense of its popularity.

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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.

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What have hedge funds been doing with Guidewire Software Inc (NYSE:GWRE)?

At Q3’s end, a total of 22 of the hedge funds tracked by Insider Monkey were long this stock, a 29% jump from the previous quarter, as hedge fund ownership of the stock soars to a new yearly high. With hedge funds’ positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).

HedgeFundSentimentChart

According to Insider Monkey’s hedge fund database, Matthew Iorio’s White Elm Capital has the most valuable position in Guidewire Software Inc (NYSE:GWRE), worth close to $28.3 million, comprising 3.6% of its total 13F portfolio. On White Elm Capital’s heels is Millennium Management, led by Israel Englander, holding a $25.1 million position. Other members of the smart money that hold long positions encompass Jim Simons’ Renaissance Technologies, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and Dmitry Balyasny’s Balyasny Asset Management.

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