Seeking Alpha

Todd Walker's  Instablog

Todd Walker
Send Message
Todd Walker is the Executive Director and Chief Strategist at HedgeTracker, where he is responsible for overseeing research, analytics and business development. He has particular expertise in investments that are popular among elite hedge fund managers, shareholder activists and... More
My company:
HedgeTracker.com
My blog:
View Todd Walker's Instablogs on:
  • Assets For Top Technology, Media & Telecom Hedge Funds Up $2.4B YTD; Lone Pine Steals Top Spot From Coatue Capital

    The latest Top Technology, Media and Telecom Hedge Fund list has been released, revealing that the top TMT Funds currently manage almost $132 billion in equity assets, up nearly 2% year-to-date. Philippe Laffont's Coatue Capital no longer holds the top spot on the list, a position his hedge fund firm had held since the TMT list was first compiled.

    Steve Mandel's Lone Pine Capital notably shifted more of his portfolio into the TMT stocks over the past quarter, placing Lone Pine in the top spot on The Top 50 TMT Hedge Fund List for the first time. Lone Pine reported $11.7 billion in assets devoted to TMT, or nearly than 53% of its equity assets under management. Lone Pine's TMT assets are aggressively allocated to some of the largest tech companies, including investments of $1.4B in Cognizant Technology (NASDAQ:CTSH), $1.2B in Baidu Inc (NASDAQ:BIDU), and $1.2B in Microsoft (NASDAQ:MSFT).

    Lone Pine's move into the TMT space is especially notably due to the fact that the firm was been named the industry's most profitable hedge fund in both 2013 and 2012, according to a study conducted by LCH Investments NV.

    ValueAct Capital claimed the #2 spot on this quarter's list, having climbed up one spot over the quarter. ValueAct, a San Francisco-based long/short equity investor, reported $6.7 billion in TMT assets, amounting to more than half of its total equity assets. Like last quarter, ValueAct concentrated its TMT portfolio holdings into three stocks, including investments of $2.9B in Microsoft Corp (MSFT), $1.9B in Motorola Inc (NYSE:MSI) and $1.7B in Adobe Systems Inc (NASDAQ:ADBE).

    Philippe Laffont's Coatue Capital, which fell two spots to third, rounds out the top three TMT investors. Laffont is considered a "Tiger Cub", having refined his investment acumen under the tutelage of Julian Robertson, before founding Coatue in 1999. Coatue Capital reported $5.2 billion in TMT assets, or nearly than 93% of the firm's equity assets under management. Coatue's top stock picks include $543M in Netflix (NASDAQ:NFLX), $434 in Baidu Inc (BIDU), $417M in CBS Corp (NYSE:CBS), $380M in Facebook (NASDAQ:FB), $306M in Time Warner (NYSE:TWX), $282M in Micron Technology (NASDAQ:MU) and $274M in Linkedin Corp (NYSE:LNKD).

    Overall, the top hedge funds allocate $85 billion, or 64% of their equity assets to TMT stocks.

    Ranking Methodology: The Top 50 TMT Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms' overall U.S. equity assets under management. The TMT list includes the top hedge funds that have more than 50% of their U.S. equity assets invested in U.S. listed Technology, Media and Telecom companies. To view the Top TMT Hedge Fund list in its entirety, please visit Hedge Tracker's Hedge Fund Portal.

    Jul 01 10:54 AM | Link | Comment!
  • Top Healthcare And Biotech Focused Hedge Funds Surge; Oversee $70 Billion In Equity Assets

    The most recent Top 50 Healthcare, Pharmaceutical and Biotechnology Focused Hedge Fund list has been released, revealing that the top hedge funds now manage $70 billion in U.S. equity assets. Larry Robbins' Glenview Capital Management has retained the top spot, once again, with $13.2 billion in equity assets under management. Glenview Capital's sector favorites include Thermo Fisher Scientific (NYSE:TMO), HCA Holdings Inc (NYSE:HCA) and Health Management Associates (NYSE:HMA). Over the last quarter, Glenview Capital notably increased its bets on Tenet Healthcare (NYSE:THC) and Aetna Inc (NYSE:AET).

    Other top investors that lead the Top Healthcare, Pharma and Biotech Hedge Fund List include #2 OrbiMed Advisors, #3 Baker Bros. Advisors LLC, and #4 Partner Fund Management. The largest investments for OrbiMed Advisors, which is run by industry stalwart Samuel Isaly, include Gilead Sciences Inc (NASDAQ:GILD), Biogen Idec Inc (NASDAQ:BIIB) and Bristol-Myers Squibb (NYSE:BMY). Notably, Isaly's firm entered and bought up large stakes in Relypsa Inc (NASDAQ:RLYP), Perrigo Co (NYSE:PRGO) and Acceleron Pharma (NASDAQ:XLRN) over the quarter, while also increasing its stakes in Abbvie Inc (NYSE:ABBV) and Celgene Corp (NASDAQ:CELG).

    Baker Bros. Advisors' top positions include Pharmacyclics Inc (NASDAQ:PCYC), Seattle Genetics (NASDAQ:SGEN) and Incyte Corp (NASDAQ:INCY), while Partner Fund Management's top industry picks include Gilead Sciences Inc (GILD), Bristol-Myers Squibb (BMY) and Actavis Inc (NYSE:ACT).

    Ranking Methodology: The Top Healthcare, Pharmaceutical and Biotechnology Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms' overall U.S. equity assets under management. The list includes the top hedge funds that have more than 35% of their U.S. equity assets invested in U.S. listed Healthcare, Pharma & Biotech companies. To view the Top Healthcare, Pharma & Biotech Hedge Fund list in its entirety, please visit HedgeTracker's Hedge Fund Portal.

    Apr 21 12:00 AM | Link | Comment!
  • Top Technology, Media & Telecom Hedge Funds Report $130B

    The latest Top Technology, Media and Telecom Hedge Fund list has been released, revealing that the top TMT Funds currently manage almost $130 billion in equity assets, allocating $84 billion, or 65% of their equity assets to TMT stocks. Philippe Laffont's Coatue Capital retains the top spot once again on The Top 50 TMT Hedge Fund List with $8.9 billion devoted to TMT, or more than 87% of equity assets under management. The vast majority of Coatue's TMT assets fall within Tech and Telecom, including CBS Corp (NYSE:CBS), Apple Inc (NASDAQ:AAPL) and Time Warner Inc (NYSE:TWX). Over the last quarter, Coatue liquidated its entire stake in Equinix (NASDAQ:EQIX), previously its top holding, worth more than $820 million.

    There was a new entrant in the top 5 this quarter with the addition of Discovery Capital Management at the 2nd spot. Discovery has $6.6B invested in TMT stocks, amounting to 50% of its total equity assets. Discovery significantly increased its share in Apple, its top holding, over the quarter, adding more than 600k shares to reach 1.5M shares.

    ValueAct, which fell one spot to third, rounds out the top 3 TMT investors. ValueAct, a GARP investor based out of San Francisco, reported $6.4 billion in TMT assets, amounting to more than half of its total equity assets. ValueAct's TMT investments are up 8% over the quarter and entirely dedicated to Tech and Telecom. ValueAct maintained its high concentration in three very large portfolio holdings, including equity stakes in Microsoft Corp (NASDAQ:MSFT), Motorola Inc (NYSE:MSI) and Adobe Systems Inc (NASDAQ:ADBE).

    Alkeon Capital Management, previously #3 on the list, fell six spots to #9 after recording a slight drop in TMT assets over the quarter. Takis Sparaggis's hedge fund still allocates 51% of its equity assets to TMT stocks. Sparaggis, who now has more than twenty years of investment experience, joined the investment community in 1993 and launched Alkeon Capital in 2002, when he spun the firm off from CIBC Oppenheimer.

    Once again, the Top 50 TMT Hedge Funds listexperienced a fair amount of turnover, as 18 hedge funds on this quarter's list were not among the top 50 during the last ranking. Incredibly, there were four more newcomers in addition to Discovery succeeding in breaking into the top 10, including Tiger Global Management (#4), SPO Advisory Corp (#5), Greenlight Capital (#6) and Egerton Capital LP (#7).

    Ranking Methodology: The Top TMT Hedge Fund rankings are compiled on a quarterly basis using hedge fund firms' overall U.S. equity assets under management. The TMT list includes the top hedge funds that have more than 50% of their U.S. equity assets invested in U.S. listed Technology, Media and Telecom companies. To view the Top TMT Hedge Fund list in its entirety, please visit Hedge Tracker's Hedge Fund Portal.

    Disclosure: I am long MSFT, AAPL, TWX.

    Mar 25 11:29 PM | Link | Comment!
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.