Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on several financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of ManpowerGroup Inc. (NYSE:MAN) based on that data.
Is ManpowerGroup Inc. (NYSE:MAN) a bargain? Hedge funds are becoming hopeful. The number of long hedge fund positions moved up by 5 lately. MAN was in 29 hedge funds’ portfolios at the end of September. There were 24 hedge funds in our database with MAN holdings at the end of the previous quarter. At the end of this article we will also compare MAN to other stocks including Veeva Systems Inc (NYSE:VEEV), Erie Indemnity Company (NASDAQ:ERIE), and Blue Buffalo Pet Products Inc (NASDAQ:BUFF) 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.
What have hedge funds been doing with ManpowerGroup Inc. (NYSE:MAN)?
At Q3’s end, a total of 29 of the hedge funds tracked by Insider Monkey were long this stock, up by 21% from the previous quarter, pushing ownership of the stock to a high for the year ended September 30. With hedge funds’ capital changing hands, there exists a few noteworthy hedge fund managers who were increasing their stakes considerably (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Larry Robbins’ Glenview Capital has the number one position in ManpowerGroup Inc. (NYSE:MAN), worth close to $207.4 million, amounting to 1.5% of its total 13F portfolio. On Glenview Capital’s heels is Cliff Asness of AQR Capital Management, with a $98.4 million position. Other members of the smart money that hold long positions comprise Chuck Royce’s Royce & Associates, Joel Greenblatt’s Gotham Asset Management, and John Overdeck and David Siegel’s Two Sigma Advisors.