As aggregate interest increased, some big names were breaking ground themselves. Marshall Wace LLP, managed by Paul Marshall and Ian Wace, established the most valuable position in AES Corp (NYSE:AES). Marshall Wace LLP had $5.4 million invested in the company at the end of the quarter. Alex Snow’s Lansdowne Partners also initiated a $5.3 million position during the quarter. The following funds were also among the new AES investors: David Costen Haley’s HBK Investments, Mike Vranos’ Ellington, and Ken Griffin’s Citadel Investment Group.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as AES Corp (NYSE:AES) but similarly valued. We will take a look at Synopsys, Inc. (NASDAQ:SNPS), Harley-Davidson, Inc. (NYSE:HOG), Regency Centers Corp (NYSE:REG), and Coca-Cola Enterprises Inc (NYSE:CCE). All of these stocks’ market caps resemble AES’s market cap.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 23 hedge funds with bullish positions and the average amount invested in these stocks was $521 million. That figure was $108 million in AES’s case. Coca-Cola Enterprises Inc (NYSE:CCE) is the most popular stock in this table. On the other hand Regency Centers Corp (NYSE:REG) is the least popular one with only 11 bullish hedge fund positions. AES Corp (NYSE:AES) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard CCE might be a better candidate to consider a long position in.