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Hedge Funds Love These Auto-Manufacturers

#3 Fiat Chrysler Automobiles NV (NYSE:FCAU)

– Hedge Funds with Long Positions (as of September 30): 34

– Aggregate Value of Hedge Funds’ Holdings (as of September 30): $1.18 billion

Owing largely to the rally it saw during the first quarter of the year, Fiat Chrysler Automobiles NV (NYSE:FCAU) is among the few auto sector stocks that is trading in the green for the year. While shares of Fiat Chrysler Automobiles NV (NYSE:FCAU) dropped by 9% during the third quarter, the number of funds with a stake in the company inched down by one. Though fuel efficiency still remains a concern for the company, it is doing splendidly in regional vehicle sales with growth in Europe outperforming the industry average for 11 months in a row as of November 30. Cliff Asness‘ AQR Capital Management bought an additional 1.6 million shares of Fiat Chrysler Automobiles NV during the third quarter, taking its total holding to almost 6 million shares.

#2 Ford Motor Company (NYSE:F)

– Hedge Funds with Long Positions (as of September 30): 38

– Aggregate Value of Hedge Funds’ Holdings (as of September 30): $907 million

Ford Motor Company (NYSE:F) is an outlier in this list because even though its stock dropped by over 8% during the third quarter, its popularity among hedge funds increased. 2 more funds became bullish on the company and the aggregate value of hedge funds’ holdings in  it jumped $152 million during that period. The company recently announced that it would be making its biggest five-year bet on an auto segment ever by spending $4.5 billion in the development of 13 new electric vehicles over the course of this decade. Robert Polak‘s Anchor Bolt Capital initiated a huge stake in Ford during the third quarter by purchasing over 8 million shares of the company.

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#1 General Motors Company (NYSE:GM)

– Hedge Funds with Long Positions (as of September 30): 88

– Aggregate Value of Hedge Funds’ Holdings (as of September 30): $5.1 billion

Even though the number of funds with long positions declined by 16 during the third quarter, the company remained the most popular auto-manufacturer among the funds we track. In the fourth quarter, shares of General Motors Company (NYSE:GM) have recovered most of the losses registered during the July-September period and are currently trading flat for the year. On December 10, the company announced that it has settled the defective ignition switch case against it and will be paying $594 million in damages to the plaintiffs. Legendary investor Warren Buffett‘s Berkshire Hathaway increased its stake in General Motors Company (NYSE:GM) by 22% to 50 million shares during the third quarter.

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Disclosure: None

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