Is Eli Lilly & Co. (NYSE:LLY) a good place to invest some of your money right now? We can gain invaluable insight to help us answer that question by studying the investment trends of top investors, who employ world-class Ivy League graduates, who are given immense resources and industry contacts to put their financial expertise to work. The top picks of these firms have historically outperformed the market when we account for known risk factors, making them very valuable investment ideas.
Eli Lilly & Co. was in 47 hedge funds’ portfolios at the end of September. LLY has experienced an increase in hedge fund interest of late. There were 43 hedge funds in our database with LLY holdings at the end of the previous quarter. At the end of this article we will also compare LLY to other stocks, including Walgreens Boots Alliance Inc (NASDAQ:WBA), AbbVie Inc (NYSE:ABBV), and The Boeing Company (NYSE:BA) to get a better sense of its popularity.
Today there are a large number of tools that stock market investors use to assess publicly traded companies. Two of the most under-the-radar tools are hedge fund and insider trading indicators. Our experts have shown that, historically, those who follow the top picks of the elite investment managers can outperform the broader indices by a solid margin (see the details here).
Keeping this in mind, we’re going to view the new action encompassing Eli Lilly & Co. (NYSE:LLY).
What does the smart money think about Eli Lilly & Co. (NYSE:LLY)?
At the end of the third quarter, a total of 47 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 9% from the previous quarter. With hedge funds’ sentiment swirling, there exists a select group of key hedge fund managers who were upping their stakes substantially (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, Ken Griffin’s Citadel Investment Group has the most valuable position in Eli Lilly & Co. (NYSE:LLY), worth close to $369.4 million, corresponding to 0.4% of its total 13F portfolio. The second largest stake is held by Cliff Asness’ AQR Capital Management, with a $204.2 million position; 0.4% of its 13F portfolio is allocated to the stock. Some other professional money managers that hold long positions include Hal Mintz’s Sabby Capital, Phill Gross and Robert Atchinson’s Adage Capital Management and D. E. Shaw’s D E Shaw.