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Is Vedanta Ltd (ADR) (VEDL) Going to Burn These Hedge Funds?

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Is Vedanta Ltd (ADR) (NYSE:VEDL) a good equity to bet on right now? We like to check what the smart money thinks first before doing extensive research. Although there have been several high profile failed hedge fund picks, the consensus picks among hedge fund investors have historically outperformed the market after adjusting for known risk attributes. It’s not surprising given that hedge funds have access to better information and more resources to find the latest market-moving information.

Is Vedanta Ltd (ADR) (NYSE:VDEL) a healthy stock for your portfolio? The best stock pickers are becoming hopeful. The number of long hedge fund positions went up by 5 in recent months. At the end of this article, we will also compare Vedanta Ltd (ADR) (NYSE:VDEL) to other stocks, including Erie Indemnity Company (NASDAQ:ERIE), Sociedad Quimica y Minera de Chile (ADR) (NYSE:SQM), and Bemis Company, Inc. (NYSE:BMS) to get a better sense of its popularity.

To the average investor, there are several indicators that market participants can use to appraise publicly traded companies. Two of the less known indicators are hedge fund and insider trading indicators. We have shown that, historically, those who follow the best picks of the top investment managers can trounce the S&P 500 by a significant margin (see the details here).

Keeping this in mind, let’s take a look at the latest action regarding Vedanta Ltd (ADR) (NYSE:VEDL).

How have hedgies been trading Vedanta Ltd (ADR) (NYSE:VEDL)?

Heading into Q4, a total of 8 of the hedge funds tracked by Insider Monkey held long positions in this stock, a jump of 167% from one quarter earlier. With the smart money’s capital changing hands, there exists an “upper tier” of noteworthy hedge fund managers who were increasing their stakes significantly (or already accumulated large positions).

When looking at the institutional investors followed by Insider Monkey, Lakewood Capital Management, managed by Anthony Bozza, holds the largest position in Vedanta Ltd (ADR) (NYSE:VEDL). Lakewood Capital Management has a $4 million position in the stock, comprising 0.2% of its 13F portfolio. The second largest stake is held by Israel Englander of Millennium Management, with a $2 million position; the fund has less than 0.1% of its 13F portfolio invested in the stock. Remaining peers that are bullish contain Jeff Lignelli’s Incline Global Management, D E Shaw, and Matthew Hulsizer’s PEAK6 Capital Management.

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