Hedge Funds Make Big on Research in Motion $RIMM

Research in Motion (RIMM) rose over 5% in trading on Tuesday after introducing two new BlackBerry phones. Of course, Leon Cooperman’s bullish bet of 1.425 million shares may have helped bolster RIMM share prices as well (see the story here). The stock is currently trading at $19.22 a share, up from $18.29 at close Monday. RIMM has a one year target estimate of $28.86.

Cooperman’s new position in RIMM netted his Omega Advisors fund roughly $1.33 million today.

Based on their positions at the end of the second quarter, the following hedge funds gained the most:

1. Renaissance Technologies – Jim Simons: Gained $2.32 million

2. Tremblant Capital – Brett Barakett: Gained $1.74 million

3. Highfields Capital Management – Jonathon Jacobson: Gained $1.34 million

4. Citadel Investment Group – Ken Griffin: Gained $1.10 million

5. Kleinheinz Capital Partners – John Kleinheinz: Gained $907,000

6. D E Shaw – D. E. Shaw: Gained $338,000

7. Bridgewater Associates – Ray Dalio: Gained $323,000

8. Harbinger – Phil Falcone: Gained $279,000

9. Lagrange Capital – Frank Lagrange Johnson: Gained $259,000

10. Aqr Capital Management – Cliff Asness: Gained $234,000

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in RIMM since the end of June. We did not take into account their option positions.