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Here is What Hedge Funds Think About O’Reilly Automotive Inc (ORLY)

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Is O’Reilly Automotive Inc (NASDAQ:ORLY) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. It’s not surprising given that hedge funds have access to better information and more resources to find the latest market-moving information.

O’Reilly Automotive Inc (NASDAQ:ORLY) was in 42 hedge funds’ portfolios at the end of September. ORLY has experienced a decrease in activity from the world’s largest hedge funds lately. There were 44 hedge funds in our database with ORLY positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Applied Materials, Inc. (NASDAQ:AMAT), Prologis Inc (NYSE:PLD), and V.F. Corporation (NYSE:VFC) to gather more data points.

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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.

Ed Aldridge / Shutterstock.com

Ed Aldridge / Shutterstock.com

Keeping this in mind, we’re going to review the fresh action encompassing O’Reilly Automotive Inc (NASDAQ:ORLY).

How are hedge funds trading O’Reilly Automotive Inc (NASDAQ:ORLY)?

At Q3’s end, a total of 42 of the hedge funds tracked by Insider Monkey were long this stock, a change of -5% from the previous quarter. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were increasing their stakes meaningfully (or already accumulated large positions).

ORLY
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Lee Ainslie’s Maverick Capital has the biggest position in O’Reilly Automotive Inc (NASDAQ:ORLY), worth close to $273.7 million, corresponding to 3.2% of its total 13F portfolio. On Maverick Capital’s heels is Citadel Investment Group, managed by Ken Griffin, which holds a $240.2 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Remaining hedge funds and institutional investors that hold long positions encompass Charles Akre’s Akre Capital Management, Robert Joseph Caruso’s Select Equity Group and Eric Mindich’s Eton Park Capital.

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