Hedge Funds and other institutional investors have just completed filing their 13Fs with the Securities and Exchange Commission, revealing their equity portfolios as of the end of September. At Insider Monkey, we follow over 700 of the best-performing investors and by analyzing their 13F filings, we can determine the stocks that they are collectively bullish on. One of their picks is Brunswick Corporation (NYSE:BC), so let’s take a closer look at the sentiment that surrounds it in the current quarter.
Brunswick Corporation (NYSE:BC) investors should pay attention to a slight decrease in hedge fund interest in recent months. At the end of September, 30 funds in our database held shares of the company, compared to 31 funds a quarter earlier. At the end of this article we will also compare BC to other stocks including Cracker Barrel Old Country Store, Inc. (NASDAQ:CBRL), Olin Corporation (NYSE:OLN), and IDACORP Inc (NYSE:IDA) to get a better sense of its popularity.
At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
Now, let’s view the new action surrounding Brunswick Corporation (NYSE:BC).
Hedge fund activity in Brunswick Corporation (NYSE:BC)
At the end of the third quarter, a total of 30 of the hedge funds tracked by Insider Monkey held long positions in Brunswick Corporation, down by 3% from the previous quarter. With the smart money’s sentiment swirling, there exists a few key hedge fund managers who were upping their holdings substantially (or already accumulated large positions).
Of the funds tracked by Insider Monkey, Ken Griffin’s Citadel Investment Group has the largest position in Brunswick Corporation (NYSE:BC), worth close to $69.7 million, amounting to 0.1% of its total 13F portfolio. The second largest stake is held by Cliff Asness’ AQR Capital Management holding a $68.7 million position; 0.1% of its 13F portfolio is allocated to the company. Remaining peers that hold long positions comprise Israel Englander’s Millennium Management, Anand Parekh’s Alyeska Investment Group, and Alexander Mitchell’s Scopus Asset Management.