Robert Bishop’s Value Fund is Up 10% in 2022: Top 5 Stock Picks

4. Rio Tinto Group (NYSE:RIO)

Impala Asset Management’s Stake Value: $77,687,000

Percentage of Impala Asset Management’s 13F Portfolio: 6.70%

Number of Hedge Fund Holders: 26

Rio Tinto Group (NYSE:RIO) is a London-based company that mines and processes mineral resources worldwide, providing aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. On May 12, Deutsche Bank analyst Liam Fitzpatrick lowered the price target on Rio Tinto Group (NYSE:RIO) to 6,000 GBp from 6,100 GBp and maintained a Hold rating on the stock.

Robert Bishop trimmed his Rio Tinto Group (NYSE:RIO) position in Q1 2022 by 29%, yet it remained one of the top holdings of his hedge fund. He owned 966,262 shares of the company, worth $77.6 million, representing 6.70% of the total 13F portfolio. 

Among the hedge funds tracked by Insider Monkey, Rio Tinto Group (NYSE:RIO) was part of 26 hedge fund portfolios at the end of the first quarter of 2022, compared to 22 funds in the preceding quarter. Ken Fisher’s Fisher Asset Management is the leading stakeholder of Rio Tinto Group (NYSE:RIO) as of the first fiscal quarter of 2022, with more than 14 million shares worth $1.13 billion.