Hedge funds and other investment firms run by legendary investors like Israel Englander and Ray Dalio are entrusted to manage billions of dollars of accredited investors’ money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to invest a greater amount of their resources in small-cap stocks than big brokerage houses, and this is often where they generate their outperformance, which is why we pay particular attention to their best ideas in this space.
In this article, we will take a look at Oshkosh Corp (NYSE:OSK), which registered an increase in popularity among smart money investors tracked by Insider Monkey. During the third quarter, the number of investors long the stock rose by 11. At the end of this article we will also compare OSK to other stocks including Lancaster Colony Corp. (NASDAQ:LANC), National Instruments Corp (NASDAQ:NATI), and PrivateBancorp Inc (NASDAQ:PVTB) to get a better sense of its popularity.
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.
Now, let’s review the fresh action regarding Oshkosh Corp (NYSE:OSK).
How are hedge funds trading Oshkosh Corp (NYSE:OSK)?
Heading into the fourth quarter of 2016, 27 funds tracked by Insider Monkey held long positions in Oshkosh Corp, which represents an increase of 69% from the end of the second quarter. With hedgies’ capital changing hands, there exists a select group of notable hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Cliff Asness’ AQR Capital Management holds the biggest position in Oshkosh Corp (NYSE:OSK). AQR Capital Management has a $52.8 million position in the stock, comprising 0.1% of its 13F portfolio. Coming in second is Israel Englander‘s Millennium Management, with a $52.4 million position; 0.1% of its 13F portfolio is allocated to the company.