A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended September 30, so let’s proceed with the discussion of the hedge fund sentiment on Aspen Insurance Holdings Limited (NYSE:AHL).
Aspen Insurance Holdings Limited (NYSE:AHL) investors should be aware of a decrease in activity from the world’s largest hedge funds lately. AHL was in 17 hedge funds’ portfolios at the end of September. There were 20 hedge funds in our database with AHL positions at the end of the previous quarter. The level and the change in hedge fund popularity aren’t the only variables you need to analyze to decipher hedge funds’ perspectives. A stock may witness a boost in popularity but it may still be less popular than similarly priced stocks. That’s why at the end of this article we will examine companies such as Ultragenyx Pharmaceutical Inc (NASDAQ:RARE), Urban Edge Properties (NYSE:UE), and PIMCO Dynamic Credit Income Fund (NYSE:PCI) to gather more data points.
We follow over 700 hedge funds and other institutional investors and by analyzing their quarterly 13F filings, we identify stocks that they are collectively bullish on and develop investment strategies based on this data. One strategy that outperformed the market over the last year involves selecting the 100 best-performing funds and identifying the 30 mid-cap stocks that they are collectively most bullish on. Over the past year, this strategy generated returns of 18%, topping the 8% gain registered by S&P 500 ETFs. We launched this strategy 2.5 years ago and it returned more than 39% since then, vs. 22% gain registered by the S&P 500 ETFs.
How are hedge funds trading Aspen Insurance Holdings Limited (NYSE:AHL)?
At the end of the third quarter, a total of 17 of the hedge funds tracked by Insider Monkey held long positions in this stock, a fall of 15% from one quarter earlier. Below, you can check out the change in hedge fund sentiment towards AHL over the last 5 quarters. With the smart money’s capital changing hands, there exists an “upper tier” of notable hedge fund managers who were boosting their holdings meaningfully (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Jim Simons’ Renaissance Technologies holds the most valuable position in Aspen Insurance Holdings Limited (NYSE:AHL). Renaissance Technologies has a $51.9 million position in the stock. On Renaissance Technologies’ heels is AQR Capital Management, led by Cliff Asness, which holds a $51.3 million position. Other peers that hold long positions consist of Richard S. Pzena’s Pzena Investment Management, Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital and D. E. Shaw’s D E Shaw. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.