Insider Monkey has processed numerous 13F filings of hedge funds and famous investors to create an extensive database of hedge fund holdings. The 13F filings show the hedge funds and investors’ positions as of the end of the third quarter. You can find write-ups about an individual hedge fund’s trades on several financial news websites. However, in this article we will take a look at their collective moves and analyze what the smart money thinks of Tata Motors Limited (ADR) (NYSE:TTM) based on that data.
Tata Motors Limited (ADR) (NYSE:TTM) was in 22 hedge funds’ portfolios at the end of September. TTM investors should be aware of an increase in support from the world’s most elite money managers in recent months. There were 12 hedge funds in our database with TTM holdings at the end of the previous quarter. At the end of this article we will also compare TTM to other stocks including Amphenol Corporation (NYSE:APH), Republic Services, Inc. (NYSE:RSG), and Under Armour Inc (NYSE:UA) to get a better sense of its popularity.
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How have hedgies been trading Tata Motors Limited (ADR) (NYSE:TTM)?
At the end of the third quarter, a total of 22 of the hedge funds tracked by Insider Monkey held long positions in this stock, an 83% boost from the previous quarter, lifting hedge fund ownership back to its yearly high. With the smart money’s positions undergoing their usual ebb and flow, there exists a few key hedge fund managers who were boosting their holdings substantially (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Ken Fisher’s Fisher Asset Management has the number one position in Tata Motors Limited (ADR) (NYSE:TTM), worth close to $365.3 million. The second largest stake is held by AQR Capital Management, led by Cliff Asness, holding a $142.2 million position. Remaining hedge funds and institutional investors that are bullish include Jim Simons’ Renaissance Technologies, J Kevin Kenny Jr’s Emerging Sovereign Group, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.
Now, some big names were leading the bulls’ herd. Emerging Sovereign Group assembled the most valuable position in Tata Motors Limited (ADR) (NYSE:TTM). Emerging Sovereign Group had $83.1 million invested in the company at the end of the quarter. LMR Partners also made a $31.2 million investment in the stock during the quarter. The following funds were also among the new TTM investors: Israel Englander’s Millennium Management, Louis Bacon’s Moore Global Investments, and Ken Griffin’s Citadel Investment Group.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Tata Motors Limited (ADR) (NYSE:TTM) but similarly valued. We will take a look at Amphenol Corporation (NYSE:APH), Republic Services, Inc. (NYSE:RSG), Under Armour Inc (NYSE:UA), and Hartford Financial Services Group Inc (NYSE:HIG). This group of stocks’ market caps are similar to TTM’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| APH | 21 | 322812 | 2 |
| RSG | 21 | 485314 | -4 |
| UA | 28 | 528456 | -3 |
| HIG | 37 | 1041662 | 3 |
As you can see these stocks had an average of 27 hedge funds with bullish positions and the average amount invested in these stocks was $595 million. That figure was $844 million in TTM’s case. Hartford Financial Services Group Inc (NYSE:HIG) is the most popular stock in this table. On the other hand Amphenol Corporation (NYSE:APH) is the least popular one with only 21 bullish hedge fund positions. Tata Motors Limited (ADR) (NYSE:TTM) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard HIG might be a better candidate to consider a long position in, though TTM is one to watch for next quarter.
Disclosure: None
