Five Top-Performering Stocks Hedge Funds Overlooked

#4 Teck Resources Ltd (USA) (NYSE:TCK)

– Investors With Long Positions (as of December 31): 15

– Aggregate Value of Investors’ Holdings (as of December 31): $34.83 million

Teck Resources Ltd (USA) (NYSE:TCK) faced the complete opposite fate of AngloGold Ashanti Limited during the last quarter of 2015 with the ownership of the company among funds covered by us declining by four during that period. Moreover, the aggregate value of investors’ holding in it also saw a decline of over 26% during the same time. Billionaire David E. Shaw‘s firm D.E. Shaw was one of the investors which reduced its stake in the company during the October-December period; it brought its holding down by 16% to 289,984 shares. Shares of Canada’s largest integrated mining company  started rallying on February 12 when it reported its fourth quarter numbers and ended the first quarter up by 97.15%. Since Teck Resources Ltd (USA)(NYSE:TCK)’s management took several cost-cutting measures and managed to bring down the production costs across all of its mines in 2015, most investors are optimistic about the company’s future. However, analysts think that going forward Teck Resources Ltd will perform well only if it manages to reduce its $9.6 billion debt burden.

#3 Companhia Siderurgica Nacional (ADR) (NYSE:SID)

– Investors With Long Positions (as of December 31): 4

– Aggregate Value of Investors’ Holdings (as of December 31): $3.39 million

Though Companhia Siderurgica Nacional (ADR) (NYSE:SID)’s stock appreciated by 101% in the first quarter of 2016, it is still trading down by almost 90% from its highs in April 2010. The number of investors covered by us with long positions in the company remained constant during the fourth quarter, however, the aggregate value of their holdings declined by $7.37 million. Billionaire Israel Englander‘s Millennium Management initiated a stake in Companhia Siderurgica Nacional (ADR) (NYSE:SID) during the last three months of 2015 by purchasing 197,080 shares and became its largest shareholder among the funds covered by us at the end of December. On March 29, Companhia Siderurgica Nacional reported its fourth-quarter numbers. Even though sales during the quarter fell by 3.7% year-over year, its profit soared to $654 million from $18.85 million that it had reported for the same quarter of the previous financial year.