After two real estate-related companies, we are going to discuss an agricultural company, Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY). The fund decided to slightly lower its stake in the company, selling 1,562 shares of it during Q2, reporting a position worth around $15.68 million at the end of June. The position counted a total of 1.1 million shares and comprised 2.50% of its portfolio. Over the past 12 months, the company’s shares have advanced by 9.86%, and in the third quarter delivered a return of 26.4%.
Heading into the third quarter of 2016, a total of 11 of the hedge funds tracked by Insider Monkey were long this stock, a change of 10% from the previous quarter. When looking at the institutional investors followed by Insider Monkey, Richard Mashaal’s RIMA Senvest Management had the most valuable position in Cresud S.A.C.I.F. y A. (ADR) (NASDAQ:CRESY), worth close to $33.8 million, amounting to 2.8% of its total 13F portfolio. Other hedge funds and institutional investors that are bullish consist of Mark T. Gallogly’s Centerbridge Partners, Herb Wagner’s FinePoint Capital, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.
683 Capital Partners raised its stake in KKR & Co. L.P. (NYSE:KKR) by 14% during the June quarter, reporting a position that was worth $13.02 million, accounting for 2.08% of its equity portfolio on June 30. The fund made a great move investing further in KKR & Co. L.P. (NYSE:KKR), since the company returned 16.9% during the third quarter.
At the end of the second quarter, a total of 24 of the hedge funds tracked by Insider Monkey were bullish on this stock, down by 11% from the first quarter of 2016. More specifically, Ariel Investments was the largest shareholder of KKR & Co. L.P. (NYSE:KKR), with a stake worth $131.6 million reported as of the end of June. Trailing Ariel Investments was Levin Capital Strategies, which amassed a stake valued at $39 million. Serengeti Asset Management, Private Capital Management, and Royce & Associates also held valuable positions in the company.