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3. Companhia Energética de Minas Gerais (NYSE:CIG)

Number of Hedge Fund Holders: 13

Brazilian utility company Companhia Energética de Minas Gerais (NYSE:CIG) shares have gained about 36% year to date through July 30. A total of 13 hedge funds in Insider Monkey’s database of 943 hedge funds had stakes in Companhia Energética de Minas Gerais (NYSE:CIG). The biggest stakeholder of Companhia Energética de Minas Gerais (NYSE:CIG) during this period was Nathaniel August’s Mangrove Partners with a $17.8 million stake in the company.

Companhia Energética de Minas Gerais (NYSE:CIG) in May posted its first quarter results. Its net profit in the period came in at R$1.4 billion. Revenue in the quarter jumped about 10.2% year over year to $8.65 billion.