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 Companhia de Saneamento Basico (ADR) (NYSE:SBS) based on that data.
Companhia de Saneamento Basico (ADR) (NYSE:SBS) shares didn’t see a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 16 hedge funds’ portfolios at the end of September, same as at the end of June. At the end of this article we will also compare SBS to other stocks including Trimble Navigation Limited (NASDAQ:TRMB), Kilroy Realty Corp (NYSE:KRC), and iShares MSCI ACWI Index Fund (NASDAQ:ACWI) to get a better sense of its popularity.
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At Insider Monkey, we’ve developed an investment strategy that has delivered market-beating returns over the past 12 months. Our strategy identifies the 100 best-performing funds of the previous quarter from among the collection of 700+ successful funds that we track in our database, which we accomplish using our returns methodology. We then study the portfolios of those 100 funds using the latest 13F data to uncover the 30 most popular mid-cap stocks (market caps of between $1 billion and $10 billion) among them to hold until the next filing period. This strategy delivered 18% gains over the past 12 months, more than doubling the 8% returns enjoyed by the S&P 500 ETFs.
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How have hedgies been trading Companhia de Saneamento Basico (ADR) (NYSE:SBS)?
Heading into the fourth quarter of 2016, a total of 16 of the hedge funds tracked by Insider Monkey held long positions in this stock, unchanged from the previous quarter. By comparison, 11 hedge funds held shares or bullish call options in SBS heading into this year, so hedge fund sentiment has greatly improved. So, let’s check out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
Of the funds tracked by Insider Monkey, AQR Capital Management, led by Cliff Asness, holds the most valuable position in Companhia de Saneamento Basico (ADR) (NYSE:SBS). AQR Capital Management has a $60.8 million position in the stock. The second most bullish fund manager is Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, holding a $58.8 million position. Remaining peers that hold long positions include Ian Simm’s Impax Asset Management, Jim Simons’ Renaissance Technologies, and Israel Englander’s Millennium Management. We should note that Impax Asset Management is among our list of the 100 best performing hedge funds which is based on the performance of their 13F long positions in non-microcap stocks.
