Was This Investor Right about Baidu.com, Inc. (BIDU), Cisco Systems, Inc. (CSCO) & Two Other Stocks?

Platinum Asset Management had a $250.19 million stake in Cisco Systems, Inc. (NASDAQ:CSCO) heading into the third quarter as the fund held over 9.03 million shares of the company. Cisco Systems appreciated by 11.6% in the following three months. Overall, there were 61 hedge funds in our database with holdings in Cisco Systems at the end of the second quarter, versus 65 funds at the end of March. Among these funds, Yacktman Asset Management, managed by Donald Yacktman, held the most valuable position in Cisco Systems, Inc. (NASDAQ:CSCO), which was valued at $807.6 million. On Yacktman Asset Management’s heels was Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC, with a $562.5 million position. Remaining hedge funds and institutional investors with similar optimism included Ken Fisher’s Fisher Asset Management, Cliff Asness’ AQR Capital Management, and Peter Rathjens, Bruce Clarke and John Campbell’s Arrowstreet Capital.

Carnival Corporation (NYSE:CCL)’s stock appreciated by 11.3% in the third quarter, Platinum Asset Management has shown a slightly bearish sentiment towards Carnival in the previous quarter by slashing 8% of its stake in the company and reporting ownership of 4.97 million shares of the company valued at $219.82 million as of the end of June. The stock returned 11.3% during the third quarter. Heading into the third quarter of 2016, 31 investors followed by our team held long positions in this stock, down by 35% from the previous quarter. Trailing Platinum Asset Management, the largest shareholder, was AQR Capital Management, which amassed a stake valued at $197.1 million. Orbis Investment Management, Edinburgh Partners, and D E Shaw also held valuable positions in the company.

Disclosure: none