Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Genworth Financial (GNW), Avon Products (AVP) Just Some of the Stocks That Powered Shah Capital to Splendid Quarter

After a horrendous three-year run, Avon Products, Inc. (NYSE:AVP) shares have turned the corner this year, gaining over 45%. Most of those gains came during the third quarter, proving to be a coup for Shah Capital, which owned 2.74 million shares of the stock at the end of June. Shah Capital believes the run isn’t yet done, as it raised its stake in Avon by another 13% during the third quarter.

A total of 25 of the hedge funds tracked by Insider Monkey were bullish on Avon Products, Inc. (NYSE:AVP) as of June 30, down by 11% from a quarter earlier. Value investment firm Yacktman Asset Management, managed by Donald Yacktman, held the number one position in Avon Products, Inc. (NYSE:AVP) at the end of June, with a $96.8 million position in the stock. Sitting at #2 was Barington Capital Group, led by James A. Mitarotonda, holding a $27.7 million position; the fund had 28.1% of its 13F portfolio invested in the stock. Other members of the smart money with similar optimism included Jim Simons’ Renaissance Technologies and Wallace Weitz’s Wallace R. Weitz & Co.

Follow Avon Products Inc (NYSE:AVP)
Trade (NYSE:AVP) Now!

Lastly is Deutsche Bank AG (USA) (NYSE:DB), which was a new addition to Shah Capital’s portfolio in the second quarter. Its position stood at 512,000 shares on June 30, and it hiked that to 700,000 shares as of September 30. Deutsche Bank AG (USA) (NYSE:DB)’s regulatory issues dragged its shares down by about 5% during the third quarter, but they have made half of that decline back in the fourth quarter. It could’ve been a lot worse for the stock, but fears have subsided that  Deutsche Bank is in any trouble of going under.

15 of the hedge funds tracked by Insider Monkey were long this stock on June 30, a 50% jump from the end of the first quarter of 2016. Mike Masters’ Masters Capital Management has a large call position in Deutsche Bank AG (USA) (NYSE:DB) worth close to $13.7 million as of June 30. Other members of the smart money that are bullish on the investment bank include Thomas G. Maheras’ Tegean Capital Management, Matthew Hulsizer’s PEAK6 Capital Management, and Ken Griffin’s Citadel Investment Group.

Follow Deutsche Bank Ag (NYSE:DB)
Trade (NYSE:DB) Now!

Disclosure: None

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.