Let’s take a look at the fund’s position in a company that runs clearing houses, listing venues, and regulated exchanges, Intercontinental Exchange Inc (NYSE:ICE). In the June quarter, Three Bays Capital decided to lower its stake in the company by 39%, to 367,346 shares, which were worth $94.03 million at the end of the quarter. Seeing that the company brought in a positive return of 5.6% during the third quarter, the lowering of the stake may be somewhat of a disappointment for the firm, though a larger stock actually would’ve lowered its returns, considering how well its other stocks performed.
At the end of June, a total of 49 of the hedge funds in our system were bullish on this stock, up by 2 from the end of March. According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Viking Global, managed by Andreas Halvorsen, held the biggest position ($290.1 million) in Intercontinental Exchange Inc (NYSE:ICE) among those funds. The second most bullish fund manager was William von Mueffling of Cantillon Capital Management ($265.9 million). Some other members of the smart money that held long positions included Ricky Sandler’s Eminence Capital, Jonathon Jacobson’s Highfields Capital Management, and Panayotis Takis Sparaggis’s Alkeon Capital Management.
The last stock we are going to examine in this article is Sensata Technologies Holding N.V. (NYSE:ST), which also had a positive return in the third quarter, of 11.1%. Considering the advancement of the stock, the fund made no mistake when it added the company to its portfolio in the June quarter. The fund acquired 1.42 million shares, which were worth $49.46 million on June 30 and comprised 2.57% of its portfolio’s value.
Heading into the third quarter of 2016, a total of 28 of the hedge funds tracked by Insider Monkey were bullish on this stock, down by 10% from one quarter earlier. Among these funds, Cantillon Capital Management held the most valuable stake in Sensata Technologies Holding N.V. (NYSE:ST), which was worth $212.3 million at the end of the second quarter. On the second spot was Blue Ridge Capital which amassed $169.3 million worth of shares. Moreover, Generation Investment Management, Stockbridge Partners, and Ashe Capital were also bullish on Sensata Technologies Holding N.V. (NYSE:ST).