The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards TPG Specialty Lending Inc (NYSE:TSLX).
TPG Specialty Lending Inc (NYSE:TSLX) was in 6 hedge funds’ portfolios at the end of the third quarter of 2016. TSLX shareholders have witnessed a decrease in hedge fund sentiment recently. There were 8 hedge funds in our database with TSLX holdings at the end of the previous quarter. At the end of this article we will also compare TSLX to other stocks including The Spectranetics Corporation (NASDAQ:SPNC), Merit Medical Systems, Inc. (NASDAQ:MMSI), and WSFS Financial Corporation (NASDAQ:WSFS) to get a better sense of its popularity.
We follow over 700 hedge funds and other institutional investors and by analyzing their quarterly 13F filings, we identify stocks that they are collectively bullish on and develop investment strategies based on this data. One strategy that outperformed the market over the last year involves selecting the 100 best-performing funds and identifying the 30 mid-cap stocks that they are collectively most bullish on. Over the past year, this strategy generated returns of 18%, topping the 8% gain registered by S&P 500 ETFs. We launched this strategy 2.5 years ago and it returned more than 39% since then, vs. 22% gain registered by the S&P 500 ETFs.
Now, let’s check out the latest action encompassing TPG Specialty Lending Inc (NYSE:TSLX).
What does the smart money think about TPG Specialty Lending Inc (NYSE:TSLX)?
At Q3’s end, a total of 6 of the hedge funds tracked by Insider Monkey held long positions in this stock, fell by 25% from the second quarter of 2016. The graph below displays the number of hedge funds with bullish position in TSLX over the last 5 quarters. With hedge funds’ capital changing hands, there exists a few key hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Israel Englander’s Millennium Management, one of the largest hedge funds in the world, has the biggest position in TPG Specialty Lending Inc (NYSE:TSLX), worth close to $4 million. The second largest stake is held by D E Shaw’s D E Shaw, holding a $3.2 million position. Remaining hedge funds and institutional investors that are bullish include Robert B. Gillam’s McKinley Capital Management, Robert Raiff’s Raiff Partners and Millennium Management. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.