It turns out that a lot of hedge funds are tracking the returns of the stock market.
But within the market, hedge funds favor some securities over others.
According to FactSet’s new hedge fund ownership report, the top 50 biggest funds increased their exposure to equities by 7.6% in the third quarter led by the Health Care and Consumer Staples sectors.
“The Health Care and Consumer Staples sectors were the two most popular groups in terms of total value of purchases, with four of the top ten purchases in the quarter coming from companies in these sectors,” FactSet analyst Andrew Birstingl said.
We’ve compiled FactSet’s and have the list of the top 50 stocks that hedge funds love. We’ve ranked them based on the aggregate market value held by the 50 largest hedge funds. Also included is the percent weight in the top 50 funds in aggregate, the percent of all outstanding shares the hedge funds own, and a recent comment from a company executive.
Check out the list below.
50. Halliburton
Sector: Energy
Market Value Held by Funds (in Millions): $2,603
Weight of stock in Top 50’s aggregated portfolio: 0.3%
% of shares outstanding: 8.6%
Executive Comment: “Activity levels and pricing took another hit across the globe, as our customers respond to the impact of reduced commodity prices, and the pressure that their own shareholders are putting on them. Considering the difficult headwinds that were working against us, I’m actually very pleased with our overall financial results for the third quarter, especially for our Eastern Hemisphere operations,” said CEO Dave Lesar.
Source: FactSet
49. Adobe Systems
Sector: Information Technology
Market Value Held by Funds (in Millions): $2,610
Weight of stock in Top 50 ‘s aggregated portfolio: 0.3%
% of shares outstanding: 6.4%
Executive Comment: “Industry analysts continue to recognize our solutions as market leading in their categories. Last month Gartner named Adobe as a leader in two Magic Quadrant reports. Web content management where we were ranked highest in completeness of vision and mobile application development,” said CEO Shantanu Narayan.
Source: FactSet
48. Time Warner Inc.
Sector: Consumer Discretionary
Market Value Held by Funds (in Millions): $2,659
Weight of stock in Top 50 ‘s aggregated portfolio: 0.3%
% of shares outstanding: 4.7%
Executive Comment: “This continues our track record of delivering industry-leading performance while also positioning the company for a world where viewers consume an increasing amount of content on demand and on multiple platforms and devices. And that’s a world in which brands need to thrive, both inside and outside the traditional TV ecosystem. We’ve been doing that by leveraging our strong brands, global scale and distinctive IP to produce content that resonates deeply with consumers and will become even more valuable on this environment,” said CEO Jeff Bewkes.
Source: FactSet
See the rest of the story at Business Insider
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