Should You Be Bullish on Tata Motors Limited (ADR) (TTM), China Biologic Products Inc (CBPO), & Two More?

Over the past 12 months, HDFC Bank Limited (ADR) (NYSE:HDB) shares have advanced by 13.69%, while in the third quarter they delivered a positive return of 8.3%. The fund has been trimming its stake slightly, first lowering it by 2% in the June quarter, to 317,987 shares, and then by 9% in the third quarter, to 286,522 shares, worth around $20.6 million.

At the end of the second quarter, a total of 23 of the hedge funds in our database were long this stock, a gain of 10% from one quarter earlier. According to Insider Monkey’s hedge fund database, Fisher Asset Management, managed by Ken Fisher, held the most valuable position in HDFC Bank Limited (ADR) (NYSE:HDB). Coming in second wa Lone Pine Capital, managed by Stephen Mandel, which held a $390 million position. Some other hedge funds and institutional investors that were bullish comprised Ryan Pedlow’s Two Creeks Capital Management, John Armitage’s Egerton Capital Limited, and Richard Driehaus’ Driehaus Capital.

Indus Capital also lowered its stake in Cosan Limited (USA) (NYSE:CZZ) both in the June and September quarters, by 26% and 17%, respectively. The stock returned 9.8% in the third quarter, and by the end of it, the fund held a position that counted 2.53 million shares worth around $18.12 million, which comprised 1.71% of its equity portfolio’s value. At Q2’s end, it was one of 16 hedge funds in our system that were long the stock, a 20% fall from one quarter earlier. The largest stake in Cosan Limited (USA) (NYSE:CZZ) was held by Carlson Capital, which reported holding $45.7 million worth of stock as of the end of June. Other investors bullish on the company included Renaissance Technologies, Electron Capital Partners, and Arrowstreet Capital.

Disclosure: None