S&P Global Market lntelligence®analyzes the latest quarterly 13F filings to determine the largest hedge funds based on reported equity assets. Further analysis isolates the universe to what S&P Global Market Intelligence believes are pure-play hedge funds that focus on stock picks, are more activist, and have fewer than 100 positions. The analysis is looking at 402015 13F filings compared to 3Q2015.
Following are some of the key findings:
- Largest Funds Battered by Q4 Stock Market Volatility: The Q4 Hedge Fund Tracker analysis finds that the top 10 hedge funds were hit hard by U.S. stock market performance in Q4. In total, the top funds managed approximately $159 billion in Q4, down $44 billion from Q3. The funds also decreased the total number of stock positions held from 441 to 427, the fewest stock positions held throughout 2015.
- Hedge Funds Buy Energy: The worst performing sector of 2015 in the S&P 500 was also the most-bought sector by pure play hedge funds in Q4. The 10 largest funds bought $1.5 billion in energy sector stocks during the quarter, with Pioneer Natural Resources and Williams Company ranking as the most-bought single stocks in the sector.
- Hedge Funds Sell Financials: The financials sector was the most-sold among hedge funds, with a total of $2.2 billion in net sells during Q4. The most-sold stock in the sector was Lloyds Banking Group.
- Five Most-Bought Stocks: The top 5 buys among hedge funds were American International Group ($2.5 billion), The Priceline Group ($1.6 billion), Valeant Pharmaceuticals ($1.3 billion), Teva Pharmaceuticals ($1.3 billion), and Apple ($1.2 billion). Priceline was also the most popular new position among the largest hedge funds with three funds taking significant positions in the company.
- Five Most-Sold Stocks: The top 5 sells among hedge funds were Allergan ($2.1 billion), Next Plc. ($1 billion), Walgreens Boots Alliance ($975 million), Lloyds Banking Group ($903 million), and Halliburton Company ($898 million).
Gates Capital Management's ECF Value Funds have a fantastic track record. The funds (full-name Excess Cash Flow Value Funds), which invest in an event-driven equity and credit strategy, have produced a 12.6% annualised return over the past 26 years. The funds added 7.7% overall in the second half of 2022, outperforming the 3.4% return for Read More