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Altria Group Inc (NYSE:MO) shares haven't seen a lot of action during the third quarter. Overall, hedge fund sentiment was unchanged. The stock was in 41 hedge funds' portfolios at the end of the fourth quarter of 2018. At the end of this article we will also compare MO to other stocks including United Technologies Corporation (NYSE:UTX), Toronto-Dominion Bank (NYSE:TD), and Texas Instruments Incorporated (NASDAQ:TXN) to get a better sense of its popularity.
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Let's take a look at the latest hedge fund action regarding Altria Group Inc (NYSE:MO).
At the end of the fourth quarter, a total of 41 of the hedge funds tracked by Insider Monkey were long this stock, a change of 0% from one quarter earlier. On the other hand, there were a total of 36 hedge funds with a bullish position in MO a year ago. So, let's find out which hedge funds were among the top holders of the stock and which hedge funds were making big moves.
More specifically, Gardner Russo & Gardner was the largest shareholder of Altria Group Inc (NYSE:MO), with a stake worth $263.3 million reported as of the end of September. Trailing Gardner Russo & Gardner was Two Sigma Advisors, which amassed a stake valued at $147.5 million. Adage Capital Management, Renaissance Technologies, and Citadel Investment Group were also very fond of the stock, giving the stock large weights in their portfolios.
Due to the fact that Altria Group Inc (NYSE:MO) has witnessed bearish sentiment from the aggregate hedge fund industry, it's easy to see that there was a specific group of fund managers who sold off their full holdings in the third quarter. It's worth mentioning that George Soros's Soros Fund Management dropped the largest stake of the 700 funds monitored by Insider Monkey, valued at about $10.6 million in call options, and Bruce Kovner's Caxton Associates LP was right behind this move, as the fund dumped about $6 million worth. These moves are interesting, as total hedge fund interest stayed the same (this is a bearish signal in our experience).
Let's now review hedge fund activity in other stocks - not necessarily in the same industry as Altria Group Inc (NYSE:MO) but similarly valued. These stocks are United Technologies Corporation (NYSE:UTX), Toronto-Dominion Bank (NYSE:TD), Texas Instruments Incorporated (NASDAQ:TXN), and Thermo Fisher Scientific Inc. (NYSE:TMO). All of these stocks' market caps resemble MO's market cap.
[table] Ticker, No of HFs with positions, Total Value of HF Positions (x1000), Change in HF Position UTX,64,5060168,5 TD,17,887418,-3 TXN,44,2402004,-4 TMO,67,3829829,11 Average,48,3044855,2.25 [/table]
View table here if you experience formatting issues.
As you can see these stocks had an average of 48 hedge funds with bullish positions and the average amount invested in these stocks was $3045 million. That figure was $915 million in MO's case. Thermo Fisher Scientific Inc. (NYSE:TMO) is the most popular stock in this table. On the other hand Toronto-Dominion Bank (NYSE:TD) is the least popular one with only 17 bullish hedge fund positions. Altria Group Inc (NYSE:MO) is not the least popular stock in this group but hedge fund interest is still below average. Our calculations showed that top 15 most popular stocks among hedge funds returned 19.7% through March 15th and outperformed the S&P 500 ETF (SPY) by 6.6 percentage points. Hedge funds were also right about betting on MO, though not to the same extent, as the stock returned 14.9% and outperformed the market as well.
Disclosure: None. This article was originally published at Insider Monkey.
我们可以判断奥驰亚集团( Altria Group Inc )目前是否是一项良好的投资，方法是跟随全球一些最优秀的投资者的脚步，坚持他们的想法。没有更好的方法让这些公司的巨大资源和分析能力为我们工作，而不是遵循他们的最佳想法。虽然并非所有这些选股都将成为赢家，但我们的研究表明，当我们将已知的风险因素考虑在内时，这些选股的历史表现优于市场。
奥驰亚集团（ NYSE ： MO ）的股票在第三季度没有看到太多的行动。总体而言，对冲基金的情绪没有改变。截至2018年第四季度末，这只股票在41只对冲基金的投资组合中。在本文的最后，我们还将把 MO 与其他股票，包括联合技术公司（ NYSE ： UTX ）、多伦多道明银行（ NYSE ： TD ）和德克萨斯仪器公司（ NASDAQ ： TXN ）进行比较，以更好地了解其受欢迎程度。
如果你问大多数交易员，对冲基金被认为是过去几年不重要、过时的投资工具。虽然今天有8000多只基金在交易，我们的研究人员看这个群体的上层，大约750只基金。这些基金经理在对冲基金行业的总资本中占据了最大份额，通过对他们无与伦比的选股行为进行跟踪， InsiderMonkey 披露了各种投资策略，这些投资策略在历史上超过了 Market 先生。自2014年5月成立至2018年11月初， InsiderMonkey 的旗舰对冲基金策略每年比标普500指数高出近5个百分点。我们能够产生巨大的回报，甚至通过确定短期候选人。我们的短期股票投资组合自2017年2月（至3月12日）以来下跌了27.5%，尽管同期市场上涨了近25%。我们刚刚在最新的季度更新中分享了6个短期目标，在不到一个月的时间里，它们已经平均下跌了6%。
让我们看看对冲基金对奥驰亚集团的最新行动（纽约证券交易所： MO ）。
截至第四季度末， Insider Monkey 追踪的对冲基金中共有41只做空了这只股票，较上一季度变动了0%。另一方面，一年前，共有36家对冲基金在 MO 拥有看多头寸。因此，让我们了解哪些对冲基金是股票的最大持有者，哪些对冲基金正在做大动作。
更具体地说， Gardner Ruso & Gardner 是 Altria Group Inc ( NYSE : MO )的最大股东，据报道截至9月底，该公司拥有价值2.633亿美元的股份。追踪 Gardner Russo & Gardner 的是两西格玛顾问公司，该公司积累了价值1.475亿美元的股份。Adage Capital Management 、 Renaissance Technologies 和 Citadel Investment Group 也非常喜欢这只股票，这让它们在投资组合中拥有很大的权重。
由于 Altria Group Inc ( NYSE : MO )从总体对冲基金行业中看到了看跌情绪，很容易看到有一组特定的基金经理在第三季度抛售了他们的全部持股。值得一提的是，乔治•索罗斯( George Soros )旗下的索罗斯基金管理公司( Soros Fund Management )放弃了由 Insider Monkey 监控的700只基金中最大的股份，这些基金价值约1,060万美元的看涨期权，布鲁斯•科夫纳( Bruce Kovner )的 Caxton Associates LP 也支持这一举措，该基金抛售了价值约600万美元的基金。这些举措很有趣，因为对冲基金的总利息保持不变（这是我们经验中的一个看跌信号）。
现在让我们来回顾对冲基金在其他股票的活动-不一定在同一行业的奥驰亚集团公司（ NYSE ： MO ），但同样的价值。这些股票是联合技术公司( NYSE : UTX )、多伦多道明银行( NYSE : TD )、德克萨斯仪器公司( NASDAQ : TXN )和 Thermo Fisher Scientific Inc .( NYSE : TMO )。所有这些股票的市值都与 MO 的市值相似。
[表] ticker , no of HF positions , Total Value of HF positions ( x1000), Change in HF Position UTX ,64,5060168,5 TD ,17,887418,-3 TXN ,44,240204,-4 TMO ,67,3829,11平均,48,3044855,2.25[/ table ]
正如你所看到的那样，这些股票平均有48只对冲基金持有看涨头寸，投资这些股票的平均金额为3.045亿美元。在 MO 的案例中，这个数字是9.15亿美元。Thermo Fisher Scientific Inc .( NYSE : TMO )是这张表中最受欢迎的股票。另一方面，多伦多道明银行（ NYSE ： TD ）是最不受欢迎的银行，只有17个看涨对冲基金头寸。奥驰亚集团（ NYSE ： MO ）并非该集团最不受欢迎的股票，但对冲基金的利息仍低于平均水平。我们的计算显示，截至3月15日，对冲基金中最受欢迎的15只股票的回报率为19.7%，比标准普尔500指数 ETF （ SPY ）高出6.6个百分点。对冲基金押注 MO 也是正确的，尽管程度并不相同，因为该股票的回报率为14.9%，也超过了市场。
披露：无。本文最初发表在 InsiderMonkey 上。