Five Rental and Leasing Companies Hedge Funds Are Bullish On

#2. AMERCO (NASDAQ:UHAL)

– Number of investors with long positions as of March 31: 28

– Aggregate value of investors’ holdings as of March 31: $287.64 Million

AMERCO (NASDAQ:UHAL) has received some love from the elite segment of the entire hedge fund industry tracked by Insider Monkey, as the number of money managers from our database with long positions in the company climbed to 28 from 23 during the January-to-March period. Nevertheless, the aggregate value of all those positions shrunk by 6% quarter-over-quarter to $287.64 million, primarily due to a drop of 8% in the value of AMERCO shares. The parent company of U-Haul, the industry leader in the do-it-yourself moving and storage industry, has seen its market value drop 6% since the beginning of the year. AMERCO’s total revenues for fiscal 2016 that ended March 31 were $3.28 billion, up from $3.07 billion recorded in fiscal 2015, $2.84 billion in fiscal 2014 and $2.56 billion in fiscal 2013. While AMERCO does not solely operate in the moving and storage industry, this business accounts for more than 90% of the company’s annual revenues. Cliff Asness’ AQR Capital Management reported owning 122,121 shares of AMERCO (NASDAQ:UHAL) in its latest 13F filing.

#1. Hertz Global Holdings Inc. (NYSE:HTZ)

– Number of investors with long positions as of March 31: 47

– Aggregate value of investors’ holdings as of March 31: $1.79 Billion

Hertz Global Holdings Inc. (NYSE:HTZ) lost some appeal among the asset managers followed by Insider Monkey during the first three months of 2016, with the number of managers invested in the company dropping to 47 from 52 quarter-over-quarter. Correspondingly, the dollar value of those managers’ equity investments in Hertz fell by 28% sequentially to $1.79 billion, mainly because of a 26% decline in the value of Hertz shares. The 47 money managers invested in the car-rental company amassed 40% of the company’s total number of outstanding shares. Earlier this month, the vehicle-rental giant’s boardroom formally approved the previously-announced split of its car-rental and equipment-rental businesses. Initially announced in March 2014, the separation is set to be completed on the last day of this month. Shares of Hertz have declined 23% thus far in 2016. According to a freshly-amended 13D filing, billionaire investor Carl Icahn’s Icahn Capital LP owns 64.69 million shares of Hertz Global Holdings Inc. (NYSE:HTZ), up from 63.71 million shares owned at the end of December.

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