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 Nordstrom, Inc. (NYSE:JWN).
Is Nordstrom, Inc. (NYSE:JWN) a healthy stock for your portfolio? Investors who are in the know are in a bullish mood. The number of long hedge fund positions rose by 4 in recent months. JWN was in 30 hedge funds’ portfolios at the end of September. There were 26 hedge funds in our database with JWN 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 Domino’s Pizza, Inc. (NYSE:DPZ), News Corp (NASDAQ:NWSA), and AerCap Holdings N.V. (NYSE:AER) to gather more data points.
Follow Nordstrom Inc (NYSE:JWN)
Follow Nordstrom Inc (NYSE:JWN)
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 take a look at the latest action encompassing Nordstrom, Inc. (NYSE:JWN).
How have hedgies been trading Nordstrom, Inc. (NYSE:JWN)?
Heading into the fourth quarter of 2016, a total of 30 of the hedge funds tracked by Insider Monkey were long this stock, an increase of 15% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of noteworthy hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, John W. Rogers’s Ariel Investments has the biggest position in Nordstrom, Inc. (NYSE:JWN), worth close to $58.7 million and corresponding to 0.7% of its total 13F portfolio. The second largest stake is held by Alyeska Investment Group, led by Anand Parekh, holding a $46.5 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Remaining professional money managers that hold long positions comprise John Tompkins’s Tyvor Capital, David Harding’s Winton Capital Management and Ken Griffin’s Citadel Investment Group.