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 Teck Resources Ltd (USA) (NYSE:TCK) based on that data.
Teck Resources Ltd (USA) (NYSE:TCK) investors should pay attention to an increase in enthusiasm from smart money of late. At the end of this article we will also compare TCK to other stocks including Torchmark Corporation (NYSE:TMK), National Retail Properties, Inc. (NYSE:NNN), and Msci Inc (NYSE:MSCI) to get a better sense of its popularity.
Follow Teck Resources Ltd (NYSE:TECK)
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Now, let’s take a gander at the recent action encompassing Teck Resources Ltd (USA) (NYSE:TCK).
What does the smart money think about Teck Resources Ltd (USA) (NYSE:TCK)?
Heading into the fourth quarter of 2016, a total of 33 of the hedge funds tracked by Insider Monkey held long positions in this stock, a jump of 22% from one quarter earlier. With hedgies’ sentiment swirling, there exists an “upper tier” of notable hedge fund managers who were upping their holdings significantly (or already accumulated large positions).
According to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Arrowstreet Capital, managed by Peter Rathjens, Bruce Clarke and John Campbell, holds the number one position in Teck Resources Ltd (USA) (NYSE:TCK). According to regulatory filings, the fund has a $273.6 million position in the stock, comprising 0.9% of its 13F portfolio. The second largest stake is held by Impala Asset Management, led by Robert Bishop, holding a $222.4 million position; the fund has 14.7% of its 13F portfolio invested in the stock. Remaining peers that are bullish encompass Jonathan Barrett and Paul Segal’s Luminus Management, Robert B. Gillam’s McKinley Capital Management and Christopher A. Winham’s Tide Point Capital.
Now, key hedge funds were leading the bulls’ herd. Tide Point Capital, managed by Christopher A. Winham, initiated the largest position in Teck Resources Ltd (USA) (NYSE:TCK). The fund had $30.7 million invested in the company at the end of the quarter. Paul Marshall and Ian Wace’s Marshall Wace LLP also initiated a $16.3 million position during the quarter. The other funds with new positions in the stock are Ken Griffin’s Citadel Investment Group, Doug Gordon, Jon Hilsabeck and Don Jabro’s Shellback Capital, and Alexander Mitchell’s Scopus Asset Management.
Let’s go over hedge fund activity in other stocks similar to Teck Resources Ltd (USA) (NYSE:TCK). These stocks are Torchmark Corporation (NYSE:TMK), National Retail Properties, Inc. (NYSE:NNN), Msci Inc (NYSE:MSCI), and Ralph Lauren Corp (NYSE:RL). This group of stocks’ market values are closest to TCK’s market value.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| TMK | 19 | 614374 | -1 |
| NNN | 20 | 103292 | 1 |
| MSCI | 24 | 349907 | 1 |
| RL | 25 | 574190 | -7 |
As you can see these stocks had an average of 22 hedge funds with bullish positions and the average amount invested in these stocks was $410 million. That figure was $834 million in TCK’s case. Ralph Lauren Corp (NYSE:RL) is the most popular stock in this table. On the other hand Torchmark Corporation (NYSE:TMK) is the least popular one with only 19 bullish hedge fund positions. Compared to these stocks Teck Resources Ltd (USA) (NYSE:TCK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.
Disclosure: none.
