Hedge Funds Clash With Wall Street Over This Falling Stock

It should be noted, nonetheless, that hedge funds we track were buying shares of Accenture Plc (NYSE:ACN) in the second quarter. While only 1.20% of the firm’s total outstanding shares were owned by hedge funds we follow as of June 30, there was a marked increase in the number of hedge funds with a long position in the stock. This group grew by nine from the previous quarter to 37. Moreover, while the shares only grew by 3.3% in the second quarter, total hedge fund holdings in the stock during said period jumped by a staggering 48.86%.

Lansdowne Partners, whose CEO is Alex Snow, held the biggest stake in Accenture at the end of June among hedge funds we track, owning over 5.0 million shares. This is an increase of 102% from the end of the prior quarter. Another hedge fund which bet a lot on Accenture between April and June was Ken Griffin’s Citadel Investment Group, which increased its share ownership of the firm by a whopping 8,649% to 507,386 shares.

Disclosure: None