3. KKR & Co. L.P. (NYSE:KKR)
Investors with Long Positions (as of June 30): 30
Aggregate Value of Investors’ Holdings (as of June 30): $610.66 Million
Although the number of hedge funds with a stake in KKR & Co. L.P. (NYSE:KKR) increased from 24 at the end of March, aggregate investment fell from $629.02 million, while the stock traded nearly sideways during the second trimester. The most attractive feature of KKR & Co. L.P. (NYSE:KKR) is perhaps its 8.44% dividend yield resulting from its quarterly dividend payout of $0.42, which was recently slashed from $0.46 in May. John W. Rogers‘ Ariel Investments raised its stake in KKR & Co. L.P. (NYSE:KKR) by 10% during the second quarter to 6.85 million shares valued at $156.49 million.
2. Navient Corp (NASDAQ:NAVI)
Investors with Long Positions (as of June 30): 32
Aggregate Value of Investors’ Holdings (as of June 30): $580.62 Million
Although the total investment in Navient Corp (NASDAQ:NAVI) decreased from $648.60 million at the end of March, mostly on the back of a 9% dip in the stock price, the number of hedge funds with holdings in the company increased from 25 at the end of the previous quarter. So far this year, the stock of the $4.88 billion loan management company holding a significant amount of education loans, has slumped by nearly 40%. The company reduced its earnings guidance for the full year in light of falling net interest margins and expected credit losses, which resulted in an increase in provisions for loan losses. Navient Corp (NASDAQ:NAVI) recently hit a 52-week low after news of the Consumer Financial Protection Bureau taking legal action against the company over its handling of loans surfaced in the market. Renowned activist investor Carl Icahn‘s Icahn Capital LP is the largest stockholder of Navient Corp (NASDAQ:NAVI) we track, owning some 16.27 million shares valued at $368.25 million.
1. Blackstone Group LP (NYSE:BX)
Investors with Long Positions (as of June 30): 34
Aggregate Value of Investors’ Holdings (as of June 30): $462.73 Million
Even though Blackstone Group LP (NYSE:BX)’s stock price has appreciated by 5.44% year-to-date, the company faced a declining interest from the hedge fund industry during the second quarter, as 42 funds had investments worth $485.65 million in the company at the end of March. The $42.19 billion global alternative asset management firm offers a healthy yield of 8.3%. Blackstone Group LP (NYSE:BX) recently took a majority stake in Stearns Holdings, the California-based mortgage lender. Robert Joseph Caruso‘s Select Equity Group is the largest stockholder of Blackstone Group LP (NYSE:BX) within our database, holding more than 1.96 million shares.
Dsiclosure: None
