Consequently, key money managers were breaking ground themselves. Two Sigma Advisors, managed by John Overdeck and David Siegel, established the largest position in United Parcel Service, Inc. (NYSE:UPS). Two Sigma Advisors had $110.8 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $49.6 million position during the quarter. The following funds were also among the new UPS investors: Israel Englander’s Millennium Management, Ray Dalio’s Bridgewater Associates, and David Costen Haley’s HBK Investments.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as United Parcel Service, Inc. (NYSE:UPS) but similarly valued. These stocks are Accenture Plc (NYSE:ACN), NIKE, Inc. (NYSE:NKE), SAP AG (ADR) (NYSE:SAP), and Allergan, Inc. (NYSE:AGN). All of these stocks’ market caps are similar to UPS’s market cap.
|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 54 investors holding long positions and the average amount invested in these stocks was $3.98 billion. That figure was $1.53 billion in UPS’s case. Allergan, Inc. (NYSE:AGN) is the most popular stock in this table, while SAP AG (ADR) (NYSE:SAP) is the least popular one with only seven bullish hedge fund positions. United Parcel Service, Inc. (NYSE:UPS) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard Allergan, Inc. (NYSE:AGN) might be a better candidate to consider a long position.