The Ten Most Popular Stocks Among Hedge Funds
Published: November 16, 2012 at 11:52 am
- Citigroup Inc. (NYSE:C). Big banks in general saw hedge fund interest increase slightly, and the most popular pick in the industry was Citi with 93 hedge funds owning the stock. Billionaire David Tepper’s Appaloosa Management increased its holdings of Citi to 10.2 million shares between the beginning of July and the end of the third quarter (find more stock picks from David Tepper)
- General Motors Company (NYSE:GM). Even before billionaire David Einhorn of told attendees at October’s Value Investing Congress that GM was one of his long stock picks, the hedge fund community had been buying in with the 78 holders of the stock from the end of the second quarter increasing to 88. Einhorn’s fund had owned about 23 million shares of the stock at the end of September. See David Einhorn’s top holdings.
- Bank of America Corp (NYSE:BAC). 85 hedge funds and other notable investors reported owning Bank of America, up from 82 in the previous quarter. D.E. Shaw, a large hedge fund managed by David Shaw, reported owning over 8 million shares of the bank on its 13F. Check out more stocks that D.E. Shaw owns.
- JPMorgan Chase & Co. (NYSE:JPM). Ownership ticked up slightly here as well, with our database showing 83 13F filers with positions in JPMorgan Chase. Fisher Asset Management, a money management firm run by billionaire Ken Fisher, more than doubled the size of its position in JPMorgan Chase during the third quarter of the year (find more of Ken Fisher’s stock picks).
- Wells Fargo & Company (NYSE:WFC). You can have your C and BAC and JPM, but Warren Buffett will stick with Wells Fargo. Berkshire Hathaway actually increased its stake in what is generally considered to be one of the safest large banks and with a total of 81 filers in our database owning the stock it kept right behind the other big banks in our rankings. See what other stocks are in Warren Buffett’s portfolio.
- QUALCOMM, Inc. (NASDAQ:QCOM). Thanks to upstarts AIG, GM, and Wells Fargo, Qualcomm dropped three places in our rankings even though the number of hedge funds reporting a position decreased by only two (from 79 to 77). Billionaire Stephen Mandel’s Lone Pine Capital cut its stake but still owned 6.9 million shares at the end of the quarter, a position worth over $400 million at that time (research more stocks that Lone Pine Capital owned).