Cooper Investors, an independently-owned investment firm, recently published its first-quarter Global Equities Fund (Hedged) commentary – a copy of which can be downloaded here. During the first quarter of 2020, the Cooper Investors Global Equities Fund (Hedged) returned -18.98%, while the benchmark MSCI ACWI was down 19.97%.
In the said letter, Cooper Investors spoke about Ametek Inc (NYSE:AME) and Amphenol Corp (NYSE:APH) stocks. Ametek is a global manufacturer of electronic instruments and electromechanical devices based in Pennsylvania. Amphenol manufactures interconnect products. Here is what Cooper Investors said:
“High quality industrials Ametek and Amphenol were sold having traded on premium valuations relative to their history. The combination of a likely drop in revenues and premium valuation meant we swiftly sold but will continue to follow these companies closely and hope to be shareholders again one day.”
In Q4 2019, the number of bullish hedge fund positions on AME stock decreased by about 3% from the previous quarter (see the chart here).
In Q4 2019, the number of bullish hedge fund positions on APH stock increased by about 9% from the previous quarter (see the chart here).
Disclosure: None. This article is originally published at Insider Monkey.