Brookfield Asset Management Inc. (USA) (NYSE:BAM) was in 14 hedge funds’ portfolio at the end of the first quarter of 2013. BAM has seen a decrease in enthusiasm from smart money of late. There were 18 hedge funds in our database with BAM positions at the end of the previous quarter.
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With all of this in mind, let’s take a peek at the recent action encompassing Brookfield Asset Management Inc. (USA) (NYSE:BAM).
What have hedge funds been doing with Brookfield Asset Management Inc. (USA) (NYSE:BAM)?
Heading into Q2, a total of 14 of the hedge funds we track held long positions in this stock, a change of -22% from the first quarter. With hedgies’ sentiment swirling, there exists a few notable hedge fund managers who were boosting their stakes significantly.
When looking at the hedgies we track, Martin Whitman’s Third Avenue Management had the most valuable position in Brookfield Asset Management Inc. (USA) (NYSE:BAM), worth close to $215.1 million, accounting for 4.1% of its total 13F portfolio. On Third Avenue Management’s heels is Select Equity Group, managed by Robert Joseph Caruso, which held a $190.3 million position; 2.5% of its 13F portfolio is allocated to the company. Some other hedgies that hold long positions include Tom Gayner’s Markel Gayner Asset Management, Lou Simpson’s SQ Advisors and Jim Simons’s Renaissance Technologies.
Due to the fact that Brookfield Asset Management Inc. (USA) (NYSE:BAM) has witnessed falling interest from the entirety of the hedge funds we track, we can see that there exists a select few hedge funds that elected to cut their positions entirely last quarter. Intriguingly, Murray Stahl’s Horizon Asset Management dropped the largest investment of the 450+ funds we monitor, totaling an estimated $138.7 million in stock.. Christian Leone’s fund, Luxor Capital Group, also cut its stock, about $92.1 million worth. These moves are important to note, as total hedge fund interest fell by 4 funds last quarter.
How have insiders been trading Brookfield Asset Management Inc. (USA) (NYSE:BAM)?
Bullish insider trading is most useful when the company in question has seen transactions within the past half-year. Over the last half-year time frame, Brookfield Asset Management Inc. (USA) (NYSE:BAM) has experienced zero unique insiders buying, and zero insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Brookfield Asset Management Inc. (USA) (NYSE:BAM). These stocks are Brookfield Residential Properties Inc (NYSE:BRP), The St. Joe Company (NYSE:JOE), American Realty Capital Properties Inc (NASDAQ:ARCP), and Howard Hughes Corp (NYSE:HHC). This group of stocks belong to the real estate development industry and their market caps are similar to BAM’s market cap.