Smart Money Are Bullish on BlackBerry Ltd (BBRY) and Will Appreciate the Acquisition of Good Technology

The appreciation of the aggregate value of hedge funds’ positions comes mainly on the back of several shareholders from our database, which boosted their stakes in the company between April and June. More specifically, four of the top six investors surged their positions during the quarter. The largest shareholder is still Prem Watsa’s Fairfax, which holds 46.70 million shares, unchanged over the quarter, followed by Jim Simons‘ Renaissance Technologies, which increased its stake by 62% to 5.99 million shares and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital, which cut its holding by 25% to 4.75 million shares. In addition, two other investors, more than doubled their positions: Cliff Asness’ AQR Capital Management and David E. Shaw’s D.E. Shaw, which reported holding 3.81 million shares and 2.91 million shares respectively.

On the other hand, Israel Englander‘s Millennium Management unloaded its entire stake that previously contained 87,800 shares.

With this in mind, as we see that some of the greatest investors are bullish on BlackBerry Ltd (NASDAQ:BBRY) and have increased their stakes, among other members of the smart money, we think that Blackberry represents a good long-term bet at the moment, as it becomes one of the best mobile enterprise security companies in the world.

Disclosure: none