Hedge funds and other investment firms run by legendary investors like Israel Englander and Ray Dalio are entrusted to manage billions of dollars of accredited investors’ money because they are without peer in the resources they use to identify the best investments for their chosen investment horizon. Moreover, they are more willing to invest a greater amount of their resources in small-cap stocks than big brokerage houses, and this is often where they generate their outperformance, which is why we pay particular attention to their best ideas in this space.
Logitech International SA (USA) (NASDAQ:LOGI) was in 11 hedge funds’ portfolios at the end of the third quarter of 2016. LOGI investors should pay attention to an increase in enthusiasm from smart money lately. There were 8 hedge funds in our database with LOGI positions at the end of the previous quarter. At the end of this article we will also compare LOGI to other stocks including ACADIA Pharmaceuticals Inc. (NASDAQ:ACAD), Emcor Group Inc (NYSE:EME), and Nu Skin Enterprises, Inc. (NYSE:NUS) 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, let’s view the key action encompassing Logitech International SA (USA) (NASDAQ:LOGI).
What have hedge funds been doing with Logitech International SA (USA) (NASDAQ:LOGI)?
At the end of the third quarter, a total of 11 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of 38% from the previous quarter. On the other hand, there were a total of 6 hedge funds with a bullish position in LOGI at the beginning of this year. So, let’s examine which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
According to Insider Monkey’s hedge fund database, Renaissance Technologies, one of the biggest hedge funds in the world, has the number one position in Logitech International SA (USA) (NASDAQ:LOGI), worth close to $53.5 million, comprising 0.1% of its total 13F portfolio. The second most bullish fund manager is Peter Muller of PDT Partners, with a $4.4 million position; the fund has 0.3% of its 13F portfolio invested in the stock. Remaining members of the smart money that are bullish encompass Cliff Asness’s AQR Capital Management, and John Overdeck and David Siegel’s Two Sigma Advisors. We should note that none of these hedge funds are among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.