Due to the fact that U.S. Bancorp (NYSE:USB) has experienced bearish sentiment from the entirety of the hedge funds we track, we can see that there was a specific group of hedgies who sold off their full holdings during the third quarter. Intriguingly, Jean-Marie Eveillard’s First Eagle Investment Management sold off the largest position of all the hedgies watched by Insider Monkey, comprising close to $458.1 million in stock. Lou Simpson’s fund, SQ Advisors, also dumped its stock, about $62.4 million worth.
Let’s now review hedge fund activity in other stocks – not necessarily in the same industry as U.S. Bancorp (NYSE:USB) but similarly valued. These stocks are Danaher Corporation (NYSE:DHR), Costco Wholesale Corporation (NASDAQ:COST), BHP Billiton plc (ADR) (NYSE:BBL), and Simon Property Group, Inc (NYSE:SPG). This group of stocks’ market caps match USB’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| DHR | 54 | 1992183 | 0 |
| COST | 50 | 2377583 | 11 |
| BBL | 18 | 323894 | -1 |
| SPG | 20 | 893010 | -1 |
As you can see these stocks had an average of 36 funds with bullish positions and the average amount invested in these stocks was $1.40 billion. That figure was $4.63 billion in USB’s case. Danaher Corporation (NYSE:DHR) is the most popular stock in this table with 54 funds holding shares. On the other hand, BHP Billiton plc (ADR) (NYSE:BBL) is the least popular one with only 18 bullish hedge fund positions. U.S. Bancorp (NYSE:USB) is not the most popular stock in this group, but hedge fund interest is still above average. This is a slightly positive signal but we’d rather spend our time researching stocks that hedge funds are piling on. In this regard, Danaher Corporation (NYSE:DHR) might be a better candidate to consider a long position.
