Hedge fund billionaire investors frequently get media attention for their outsized paychecks, lavish lifestyles, amazing wins and woeful miscalculations. Bloomberg reported that in 2018, hedge funds posted an aggregate loss of 5.7%. Still, wouldn’t it be useful to know what they are investing in?
To see where their money is going, WalletHub analyzed the SEC filings of over 400 hedge funds to determine their biggest equity holdings, new positions and largest equity sales in 2018.
Of the 25 most frequently held stock positions by these funds, Microsoft, Amazon and Apple were the top three. No surprise there. Mostly tech and financial or bank stocks, and a few healthcare stocks, made the list.
The highest-ranked manufacturing company was Boeing at No. 13. Number 25 was billionaire investor Warren Buffett’s own Berkshire Hathaway Inc.
Not a single energy-related company made the top 25.
WalletHub also took a deeper dive to identify the top three holdings of several celebrity billionaire hedge fund managers known for their investing acumen. Only Carl Icahn was listed as owning enough energy-related equities to make the top three list. He owned 9.4% of LNG leader Cheniere Energy Inc. as of December 30. During 2018, the biggest new position he added was Diamondback Energy Inc. (FANG), of which he owned 6.3% at year-end.
Despite the reputation of hedge fund managers, there is no guarantee of success. For example, last summer, Icahn took control of SandRidge Energy Inc., gaining five of its eight board seats and instituting broad changes. In January a new CEO was named, Paul D. McKinney. At the time Icahn gained control, the stock was trading for about $17 a share; more recently it was around $8.
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