The 700+ hedge funds and money managers tracked by Insider Monkey have already compiled and submitted their 13F filings for the third quarter, which unveil their equity positions as of September 30. We went through these filings, fixed typos and other more significant errors and identified the changes in hedge fund positions. Our extensive review of these public filings is finally over, so this article is set to reveal the smart money sentiment towards Banco Santander, S.A. (ADR) (NYSE:SAN).
Hedge fund interest in Banco Santander, S.A. (ADR) (NYSE:SAN) shares was flat at the end of last quarter, with 16 hedge funds bullish on the company. 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 Itau Unibanco Holding SA (ADR) (NYSE:ITUB), BlackRock, Inc. (NYSE:BLK), and The Dow Chemical Company (NYSE:DOW) to gather more data points.
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.
How are hedge funds trading Banco Santander, S.A. (ADR) (NYSE:SAN)?
At the end of the third quarter, a total of 16 of the hedge funds tracked by Insider Monkey were bullish on this stock, unchanged from one quarter earlier. The graph below displays the number of hedge funds with bullish position in SAN over the last 5 quarters. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to Insider Monkey’s hedge fund database, David Blood and Al Gore’s Generation Investment Management has the biggest position in Banco Santander, S.A. (ADR) (NYSE:SAN), worth close to $83.9 million. The second largest stake is held by AQR Capital Management, led by Cliff Asness, holding a $57.6 million position. Remaining peers that are bullish encompass John W. Rogers’ Ariel Investments, Renaissance Technologies, one of the largest hedge funds in the world 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.