Hewlett-Packard Company (HPQ) Gains Ground on Earnings Results; Hedge Funds are Betting on Its Split

In this way, smart money are bullish on Hewlett-Packard, betting that its split will generate more value for shareholders. According to our database, the number of funds that had long positions in Hewlett-Packard remained unchanged at the end of the second quarter, but the aggregate value of their holdings went up by 10% on the quarter to $3.12 billion, while the stock lost around 4% during the same period. Moreover, at the end of June, investors that we track held 5.8% of Hewlett-Packard’s outstanding shares.

More specifically, Richard S. Pzena’s Pzena Investment Management holds the largest stake in Hewlett-Packard Company (NYSE:HPQ), which contains 18 million shares as of the end of June. Clint Carlson’s Carlson Capital  initiated a stake in HP during the second quarter, disclosing 722,300 shares, while Steve Cohen’s Point72 Asset Management reported a new position, which contains 642,000 shares, in their latest 13F filings.

However, since the number of funds bullish on HP remained unchanged during the second quarter, a number of investors unloaded their entire positions. Among them is Tony Chedraoui’s Tyrus Capital, which sold out its entire stake that previously contained around 1.98 million shares.

Disclosure: None