Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track more than 700 prominent money managers and analyze their quarterly 13F filings. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile gigantic failures like hedge funds’ recent losses in Valeant. Let’s take a closer look at what the funds we track think about Twenty-First Century Fox Inc (NASDAQ:FOXA) in this article.
Is Twenty-First Century Fox Inc (NASDAQ:FOXA) ready to rally soon? Investors who are in the know are taking a bearish view, as the number of investors from our database long the stock inched down by one to 48. At the end of this article we will also compare FOXA to other stocks including CME Group Inc (NASDAQ:CME), CIGNA Corporation (NYSE:CI), and Brookfield Asset Management Inc. (USA) (NYSE:BAM) 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, we’re going to go over the new action regarding Twenty-First Century Fox Inc (NASDAQ:FOXA).
What have hedge funds been doing with Twenty-First Century Fox Inc (NASDAQ:FOXA)?
Heading into the fourth quarter of 2016, a total of 48 hedge funds tracked by Insider Monkey were bullish on Twenty-First Century Fox Inc (NASDAQ:FOXA), down by 2% from the previous quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were upping their holdings significantly (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Donald Yacktman’s Yacktman Asset Management has the most valuable position in Twenty-First Century Fox Inc (NASDAQ:FOXA), worth close to $1.15 billion, corresponding to 10% of its total 13F portfolio. The second most bullish fund is Seth Klarman’s Baupost Group, with a $308.7 million position; the fund has 4.4% of its 13F portfolio invested in the stock. Remaining professional money managers with similar optimism comprise Boykin Curry’s Eagle Capital Management, David E. Shaw’s D E Shaw, and Warren Buffett’s Berkshire Hathaway.