Reeder manages Par Capital with Edward Shapiro, who joined the firm in 1997 after getting an MBA from UCLA and spending eight years as Vice President of Wellington Management. This article was originally published at Insider Monkey.Paul Reeder founded Par Capital in 1990 after graduating with a master’s degree from MIT’s Sloan School of Management and cutting his teeth as an airline analyst at Loomis Sayles & Co. Hedge funds were rewarded for their relative bullishness.ĭisclosure: None. Hedge funds were also right about betting on DVA as the stock returned 25.8% during the fourth quarter (through the end of November) and outperformed the market. Our calculations showed that top 20 most popular stocks among hedge funds returned 37.4% in 2019 through the end of November and outperformed the S&P 500 ETF (SPY) by 9.9 percentage points. DaVita Inc (NYSE:DVA) is not the most popular stock in this group but hedge fund interest is still above average. (NYSE: CPL) is the least popular one with only 3 bullish hedge fund positions. (NYSE: BKI) is the most popular stock in this table. That figure was $3080 million in DVA's case. View table here if you experience formatting issues.Īs you can see these stocks had an average of 24.5 hedge funds with bullish positions and the average amount invested in these stocks was $389 million. This group of stocks' market caps are closest to DVA's market cap. (NYSE: BKI), Omega Healthcare Investors Inc (NYSE: OHI), and CPFL Energia S.A. We will take a look at Vail Resorts, Inc. Let's now take a look at hedge fund activity in other stocks - not necessarily in the same industry as DaVita Inc (NYSE:DVA) but similarly valued. These bearish behaviors are intriguing to say the least, as aggregate hedge fund interest fell by 2 funds heading into Q4. It's worth mentioning that Andreas Halvorsen's Viking Global cut the largest position of the 750 funds watched by Insider Monkey, worth an estimated $163.6 million in stock, and Dmitry Balyasny's Balyasny Asset Management was right behind this move, as the fund dropped about $23.8 million worth. Seeing as DaVita Inc (NYSE:DVA) has faced a decline in interest from the aggregate hedge fund industry, it's easy to see that there were a few fund managers that decided to sell off their entire stakes heading into Q4. SkyTop Capital Management is also relatively very bullish on the stock, dishing out 5.15 percent of its 13F equity portfolio to DVA. In terms of the portfolio weights assigned to each position Gates Capital Management allocated the biggest weight to DaVita Inc (NYSE:DVA), around 7.11% of its portfolio. Some other hedge funds and institutional investors that hold long positions encompass Larry Robbins's Glenview Capital, Jeffrey Gates's Gates Capital Management and Stephen DuBois's Camber Capital Management. On Berkshire Hathaway's heels is PAR Capital Management, managed by Paul Reeder, which holds a $237.4 million position 4.1% of its 13F portfolio is allocated to the stock. There were 36 hedge funds in our database with DVA holdings at the end of the previous quarter.Īccording to publicly available hedge fund and institutional investor holdings data compiled by Insider Monkey, Warren Buffett's Berkshire Hathaway has the biggest position in DaVita Inc (NYSE:DVA), worth close to $2.2009 billion, accounting for 1% of its total 13F portfolio. DVA was in 34 hedge funds' portfolios at the end of September. Our calculations also showed that DVA isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video below for Q2 rankings). The number of long hedge fund bets went down by 2 recently. Is DaVita Inc (NYSE: DVA) a superb investment right now? Hedge funds are in a pessimistic mood. That's why we weren't surprised when hedge funds’ top 20 large-cap stock picks generated a return of 37.4% through the end of November and outperformed the broader market benchmark by 9.9 percentage points.This is why following the smart money sentiment is a useful tool at identifying the next stock to invest in. Our research shows that most of the stocks that smart money likes historically generate strong risk-adjusted returns. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through the end of November.
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