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If you like to mirror hedge fund portfolios, this may be an interesting list for you.

To compile this list we looked for stocks with the following characteristics:

  • Market cap above $300M
  • Increased hedge fund flows over the last two quarters of 2010
  • Decrease in short interest over the month of March

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We've also tested the recent performance of the list mentioned below (click to enlarge). Over the last month, an equal weighted index of the stocks mentioned below has easily beaten the S&P 500. To access a complete analysis of the list's recent performance, click here.



Given the sophistication and track record of these money managers, which of these stocks are you most bullish about?

1. The St. Joe Company (JOE): Real Estate Development Industry. Market cap of $2.42B. Over the last quarter of 2010, Black River Asset Management increased its position on this stock by x4.18. During the month of March, shares shorted decreased from 23.03M to 19.84M. This is equivalent to 3.5% of the floating shares. The stock has had a couple of great days, gaining 7.6% over the last week.

2. SBA Communications Corp. (SBAC): Rental & Leasing Services Industry. Market cap of $4.60B. Over the last quarter of 2010, Black River Asset Management increased its position on this stock by x4.67. During the month of March, shares shorted decreased from 10.92M to 8.29M. This is equivalent to 2.31% of the floating shares. The stock is a short squeeze candidate, with a short float at 7.33% (equivalent to 5.38 days of average volume). The stock has gained 15.51% over the last year.

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3. SUPERVALU Inc. (SVU): Grocery Stores Industry. Market cap of $2.38B. Over the last quarter of 2010, Tudor Investment Corporation increased its position on this stock by x1.31. During the month of March, shares shorted decreased from 48.69M to 45.30M. This is equivalent to 1.61% of the floating shares. The stock is a short squeeze candidate, with a short float at 21.58% (equivalent to 5.57 days of average volume). Exhibiting strong upside momentum--currently trading 14.84% above its SMA20, 27.14% above its SMA50, and 17.59% above its SMA200. The stock has had a good month, gaining 28.44%.


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4. Cott Corporation (COT): Soft Drinks Industry. Market cap of $810.38M. Over the last quarter of 2010, Black River Asset Management increased its position on this stock by x4.07. During the month of March, shares shorted decreased from 3.40M to 2.25M. This is equivalent to 1.6% of the floating shares. This is a risky stock that is significantly more volatile than the overall market (beta = 2.44). The stock has gained 1.66% over the last year.

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5. Talecris Biotherapeutics Holdings Corp. (TLCR): Biotechnology Industry. Market cap of $3.54B. Over the last quarter of 2010, Moore Capital increased its position on this stock by x5.04. During the month of March, shares shorted decreased from 1.74M to 994.44K. This is equivalent to 1.45% of the floating shares. The stock has gained 49.23% over the last year.

6. Covidien plc (COV): Medical Instruments & Supplies Industry. Market cap of $27.90B. Over the last quarter of 2010, Bridgewater increased its position on this stock by x4.49. During the month of March, shares shorted decreased from 12.15M to 7.09M. This is equivalent to 1.03% of the floating shares. The stock has had a couple of great days, gaining 5.53% over the last week.

*13-F filings sourced from Edgar, short interest data sourced from Yahoo! Finance, other relevant data sourced from Finviz.


Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

Source: 6 Stocks Snapped Up by Famous Hedge Funds, Boosted by Short Covering