7 Stocks Hedge Fund Managers Bought In Q3

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 |  Includes: AAPL, BK, GOOG, HPQ, MSFT, V, WFC
by: Insider Monkey

For investors looking for investment inspiration, hedge fund managers are perfect candidates to “monkey” or mirror. These people are generally in the know when it comes to the stock market. They have vast teams of analysts researching which stocks are best, and their positions are reported every quarter. With so much behind them, if several fund managers start buying stock in a company, it is generally a good indicator that the stock will be moving up.

To test this theory, let’s look at seven stocks hedge fund managers were buying in the third quarter and what they are trading at now.

1. Microsoft (NASDAQ:MSFT): In the third quarter, MSFT was a popular choice amongst hedge funds. Leon Cooperman’s Omega Advisors initiated a new position in the company, while David Einhorn’s Greenlight Capital and George Soros’ Soros Fund Management increased their positions in the company. MSFT lost -9.39% from January 1 to the end of September, to close the quarter at $24.89. As of the open of trading December 15, MSFT was trading at $25.66.

2. Wells Fargo & Co (NYSE:WFC): Lee Ainslie’s Maverick Capital, Bruce Berkowitz’s Fairholme, Ray Dalio’s Bridgewater Associates and Whitney Tilson’s T2 Partners each opened new positions in WFC during the third quarter. Several big names upped their stake in the company as well, including Warren Buffett’s Berkshire Hathaway and George Soros’ Soros Fund Management. WFC lost -22.85% from January 1 to the end of September, to close the quarter at $24.12. As of the open of trading December 15, WFC was trading at $26.14.

3. Google (NASDAQ:GOOG): In the third quarter, Ken Heebner’s Capital Growth Management and George Soros’ Soros Fund Management initiated new positions in GOOG. During the same period, Julian Robertson’s Tiger Management, John Griffin’s Blue Ridge Capital and Jean-Marie Eveillard’s First Eagle Investment Management increased their holdings in the company. From January 1 to the end of September, GOOG lost -14.78%, to close the quarter at $515.04. As of the open of trading December 15, GOOG was trading at $622.52.

4. Hewlett-Packard (NYSE:HPQ): Seth Klarman’s Baupost Group initiated a position in HPQ during the third quarter while Joel Greenblatt’s Gotham Asset Management, Ray Dalio’s Bridgewater Associates and George Soros’ Soros Fund Management each upped their stakes in the company. HPQ lost 46.92% from January 1 to the end of September, to close the quarter at $22.45. As of the open of trading December 15, HPQ was trading at $26.64.

5. Visa (NYSE:V): Warren Buffett’s Berkshire Hathaway, Ken Heebner’s Capital Growth Management and Stephen Mandel’s Lone Pine Capital opened new positions in Visa during the third quarter. From January 1 to the end of September, Visa gained 22.24%, to close the quarter at $85.72. As of the open of trading December 15, Visa was trading at $97.32.

6. Apple (NASDAQ:AAPL): In the third quarter, Andreas Halvorsen’s Viking Global, Ken Heebner’s Capital Growth Management and Whitney Tilson’s T2 Partners each opened new positions in AAPL while both David Einhorn’s Greenlight Capital and Leon Cooperman’s Omega Advisors increased their holdings in the company. AAPL gained 15.70% from January 1 to the end of September to close the quarter at $381.32. As of the open of trading December 15, AAPL was trading at $383.33.

7. Bank of New York Mellon (NYSE:BK): Ray Dalio’s Bridgewater Associates opened a new position in BK during the third quarter while Jean-Marie Eveillard’s First Eagle Investment Management and Mason Hawkins’ Southeastern Asset Management increased their positions. BK lost 38.92% from January 1 to the end of September to close the quarter at $18.59. As of the open of trading December 15, BK was trading at $18.98.

Disclosure: I am long MSFT.