Autoliv Inc. (ALV) Up On Q2 Profit, Revenue Beat, But Hedge Funds Wary

What does the smart money think about Autoliv Inc. (NYSE:ALV)?

When looking at the hedgies followed by Insider Monkey, AQR Capital Management, managed by Cliff Asness, holds the most valuable position in Autoliv Inc. (NYSE:ALV), owning 256,132 shares for a $30.2 million position in the stock, comprising 0.1% of its 13F portfolio. The second-most bullish hedge fund manager is Melvin Capital Management, led by Gabriel Plotkin, holding 225,000 shares for a $26.5 million position; 1.7% of its 13F portfolio is allocated to the stock. Other hedge funds that hold long positions include Ed Beddow and William Tichy’s Beddow Capital Management, Jim Simons’ Renaissance Technologies, and Chuck Royce’s Royce & Associates.

Judging by the fact that Autoliv Inc. (NYSE:ALV) has experienced bearish sentiment from the aggregate hedge fund industry, it’s easy to see that there was a specific group of money managers who sold off their positions entirely by the end of the first quarter. Intriguingly, Patrik Brummer‘s Zenit Asset Management AB cut the largest position of all the hedgies watched by Insider Monkey, selling 131,847 shares or $14.12 million in stock, while Kenneth Tropin of Graham Capital Management was right behind this move, as the fund dropped 13,000 shares worth about $1.38 million.

Bearish hedge fund sentiment, despite the beat for the second quarter, makes us not recommend a long position in Autoliv Inc. (NYSE:ALV) at the moment.

Disclosure: None