What have hedge funds been doing with QUALCOMM, Inc. (NASDAQ:QCOM)?
At Q4’s end, a total of 68 of the hedge funds tracked by Insider Monkey were long this stock, a change of 0% from the third quarter. With the smart money’s positions undergoing their usual ebb and flow, there exists a few notable hedge fund managers who were increasing their stakes substantially (or already accumulated large positions).
When looking at the institutional investors followed by Insider Monkey, William B. Gray’s Orbis Investment Management has the most valuable position in QUALCOMM, Inc. (NASDAQ:QCOM), worth close to $960.9 million, corresponding to 7.5% of its total 13F portfolio. The second largest stake is held by Generation Investment Management, led by David Blood and Al Gore, holding a $662.3 million position; 8.5% of its 13F portfolio is allocated to the company. Some other members of the smart money that hold long positions contain John H. Scully’s SPO Advisory Corp, Ken Fisher’s Fisher Asset Management and Barry Rosenstein’s JANA Partners.
On the other hand, Karthik Sarma’s SRS Investment Management dropped the largest investment of all the hedgies watched by Insider Monkey, worth close to $53.7 million in stock, and Gordy Holterman and Derek Dunn’s Overland Advisors was right behind this move, as the fund cut about $52.7 million worth of shares. These transactions are interesting, as aggregate hedge fund interest stayed the same (this is a bearish signal in our experience).
Let’s now review hedge fund activity in other stocks similar to QUALCOMM, Inc. (NASDAQ:QCOM). We will take a look at U.S. Bancorp (NYSE:USB), Toronto-Dominion Bank (USA) (NYSE:TD), UBS AG (USA) (NYSE:UBS), and Mondelez International Inc (NASDAQ:MDLZ). This group of stocks’ market valuations are similar to QCOM’s market valuation.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| USB | 41 | 5314294 | -2 |
| TD | 14 | 301226 | -2 |
| UBS | 13 | 856422 | 0 |
| MDLZ | 57 | 6661359 | -12 |
As you can see these stocks had an average of 31 hedge funds with bullish positions and the average amount invested in these stocks was $3.28 billion. That figure was $5.33 billion in QCOM’s case. Mondelez International Inc (NASDAQ:MDLZ) is the most popular stock in this table. On the other hand UBS AG (USA) (NYSE:UBS) is the least popular one with only 13 bullish hedge fund positions. Compared to these stocks QUALCOMM, Inc. (NASDAQ:QCOM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
