Hedge Funds have invested quite bit of moolah in Indian stocks. Let’s have a look at the top five popular stocks in which the funds invested during last quarter.
1. ICICI Bank Limited (ADR) (NYSE:IBN) was the most popular stock among hedge funds. At the end of the first quarter 5.10% of the 737 hedge funds we track were invested in ICICI Bank Ltd (NSE:ICICIBANK). This number was 4.70% at the end of the fourth quarter. So, ICICI Bank’s popularity went up. Ken Fisher, Joshua Friedman And Mitchell Julis, and Howard Marks are among the hedge funds with large ICICI Bank Limited (ADR) (NYSE:IBN) positions.
2. HDFC Bank Limited (ADR) (NYSE:HDB) was in portfolio of 37 Hedge Funds compared to 26 in Fourth Quarter. At the end of First Quarter, 5.10% of hedge funds were invested in HDFC Bank Limited. This number was 3.50% at the end of the previous quarter. Billionaires Ken Fisher, Stephen Mandel, and Rob Citrone are among top shareholders.
3. Tata Motors Limited (ADR) (NYSE:TTM) was the third most popular stock among hedge funds. There was an increase in activity of the stock as it found place among 24 hedge funds at the end of first quarter against 19 hedge funds at the end of fourth quarter. At the end of the fourth quarter, 3.30% of hedge funds were invested in this automobile stock. Billionaire Ken Fisher, Cliff Asness, and Daniel S. Och held the stock.
4. Infosys Ltd ADR (NYSE:INFY) wasn’t as popular as other three stocks. The stock found place was in portfolio of 21 hedge funds compared to 18 at the end of fourth quarter. Ken Fisher, Cliff Asness, and Bernard Horn were the top investors in Infosys Ltd.
5. Dr.Reddy’s Laboratories Ltd (NSE:DRREDDY) was the fifth popular Indian stock among hedge funds on our list. The hedge fund ownership increased from 0.80% to 1.50%. Dr.Reddy’s was added by 5 hedge funds in first quarter. Ken Fisher, Cliff Asness, and Jerome Pfund And Michael Sjostrom are few of the notable investors.