Now, key hedge funds were leading the bulls’ herd. Blue Arrow Capital Management, managed by Millennium Management Subsidiary, created the most valuable position in Arthur J. Gallagher & Co. (NYSE:AJG). Blue Arrow Capital Management had $9.5 million invested in the company at the end of the quarter. John Overdeck and David Siegel’s Two Sigma Advisors also made a $5.7 million investment in the stock during the quarter. The following funds were also among the new AJG investors: Joel Greenblatt’s Gotham Asset Management, Matthew Tewksbury’s Stevens Capital Management, and Ray Dalio’s Bridgewater Associates.
Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as Arthur J. Gallagher & Co. (NYSE:AJG) but similarly valued. We will take a look at Synopsys, Inc. (NASDAQ:SNPS), Mobile TeleSystems OJSC (ADR) (NYSE:MBT), China Southern Airlines Co Ltd (ADR) (NYSE:ZNH), and ResMed Inc. (NYSE:RMD). This group of stocks’ market values match AJG’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 13.5 hedge funds with bullish positions and the average amount invested in these stocks was $143 million. That figure was $201 million in AJG’s case. Synopsys, Inc. (NASDAQ:SNPS) is the most popular stock in this table. On the other hand China Southern Airlines Co Ltd (ADR) (NYSE:ZNH) is the least popular one with only 4 bullish hedge fund positions. Arthur J. Gallagher & Co. (NYSE:AJG) is not the most popular stock in this group but hedge fund interest is still above average. This is a slightly positive signal making AJG worth a closer look.