As we already know from media reports and hedge fund investor letters, many hedge funds lost money in the third quarter, blaming macroeconomic conditions and unpredictable events that hit several sectors, with healthcare among them. Nevertheless, most investors decided to stick to their bullish theses and their long-term focus allows us to profit from the recent declines. In particular, let’s take a look at what hedge funds think about Travelers Companies Inc (NYSE:TRV) in this article.
Travelers Companies Inc has seen a decrease in hedge fund sentiment recently. TRV was in 32 hedge funds’ portfolios at the end of the third quarter of 2015. There were 43 hedge funds in our database with TRV holdings at the end of the previous quarter. At the end of this article we will also compare TRV to other stocks including Brookfield Asset Management Inc. (USA) (NYSE:BAM), Sony Corporation (ADR) (NYSE:SNE), and Anadarko Petroleum Corporation (NYSE:APC) to get a better sense of its popularity.
Today there are plenty of metrics market participants use to evaluate stocks. Some of the less known metrics are hedge fund and insider trading interest. Our researchers have shown that, historically, those who follow the top picks of the top money managers can trounce the market by a significant amount (see the details here).
With all of this in mind, we’re going to go over the new action surrounding Travelers Companies Inc (NYSE:TRV).
How are hedge funds trading Travelers Companies Inc (NYSE:TRV)?
At Q3’s end, a total of 32 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of -26% from the second quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists an “upper tier” of key hedge fund managers who were increasing their holdings substantially (or already accumulated large positions).
Of the funds tracked by Insider Monkey, AQR Capital Management, managed by Cliff Asness, holds the largest position in Travelers Companies Inc (NYSE:TRV). AQR Capital Management has a $282.3 million position in the stock, comprising 0.6% of its 13F portfolio. Sitting at the No. 2 spot is Winton Capital Management, managed by David Harding, which holds a $148.3 million position; 1.2% of its 13F portfolio is allocated to the company. Remaining peers that hold long positions include Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, Paul Marshall and Ian Wace’s Marshall Wace LLP and Michael Messner’s Seminole Capital (Investment Mgmt).