Most investors tend to think that hedge funds and other asset managers are worthless, as they cannot beat even simple index fund portfolios. In fact, most people expect hedge funds to compete with and outperform the bull market that we have witnessed over the past few years. However, hedge funds are generally partially hedged and aim at delivering attractive risk-adjusted returns rather than following the ups and downs of equity markets hoping that they will outperform the broader market. Our research shows that hedge funds do have great stock picking skills, so let’s take a glance at the smart money sentiment towards Brookfield Infrastructure Partners L.P. (NYSE:BIP).
Brookfield Infrastructure Partners L.P. (NYSE:BIP) shareholders have witnessed an increase in support from the world’s most elite money managers recently. At the end of this article we will also compare BIP to other stocks including Axalta Coating Systems Ltd (NYSE:AXTA), YPF SA (ADR) (NYSE:YPF), and STMicroelectronics N.V. (ADR) (NYSE:STM) to get a better sense of its popularity.
Now, let’s take a glance at the new action encompassing Brookfield Infrastructure Partners L.P. (NYSE:BIP).
How are hedge funds trading Brookfield Infrastructure Partners L.P. (NYSE:BIP)?
At the end of the third quarter, a total of 12 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 50% from the previous quarter. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were boosting their stakes meaningfully (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Jim Simons’s Renaissance Technologies has the biggest position in Brookfield Infrastructure Partners L.P. (NYSE:BIP), worth close to $6.8 million, accounting for less than 0.1% of its total 13F portfolio. Coming in second is Brave Warrior Capital, led by Glenn Greenberg, holding a $4.5 million position; the fund has 0.1% of its 13F portfolio invested in the stock. Remaining professional money managers that are bullish contain Murray Stahl’s Horizon Asset Management, Christopher C. Grisanti’s Grisanti Brown & Partners and George Hall’s Clinton Group.