FactSet has released its report on the 50 largest hedge funds and their holdings during the third quarter.
These funds increased their exposure to stocks by 3.8% as the market extended its 5-year old bull run. FactSet's John Butters noted that the most popular stocks to buy were in the in the information technology sector, followed by consumer discretionary and energy sectors.
Shares of Shire PLC were the most bought in the third quarter, even as the biopharmaceutical company negotiated acquisition offers by Abbvie that eventually fell through.
The largest funds owned stocks with a combined market value worth $790 billion. Using FactSet's data, we've compiled a list of the 50 most widely held stocks and ranked them by the dollar value held by the funds.
50. Twenty-First Century Fox, Class B, is held by 11 funds.
Sector: Consumer Discretionary
Market value held by funds (in millions): $2,483
Weight of stock in Top 50's aggregated portfolio: 0.3%
% of shares outstanding: 9.3%
Comment:"We continued our focus on driving long-term value through our planned investments in a number of our growing brands, most notably our new channels FXX, Fox Sports 1 and STAR Sports," said Chairman and CEO Rupert Murdoch in the company's first quarter earnings release.
Source: FactSet
49. Pioneer Natural Resources is held by 12 funds
Sector: Energy
Market value held by funds (in millions): $2,563
Weight of stock in Top 50's aggregated portfolio: 0.3%
% of shares outstanding: 9.1%
Comment: "Looking beyond 2014, Pioneer plans to continue to prudently develop our industry-leading position in the Spraberry/Wolfcamp," said Scott D. Sheffield, chairman and CEO, in the company's fourth quarter earnings release.
Source: FactSet
48. Danske Bank is held by 3 funds
Sector: Financials
Market value held by funds (in millions): $2,569
Weight of stock in Top 50's aggregated portfolio: 0.3%
% of shares outstanding: 9.4%
Comment: "Our overriding ambition is to maintain and developed a new C&I as a large wholesale bank with strong competences and a unique offering that benefits our customers," said CEO Thomas Borgen during the Q3 earnings call.
Source: FactSet
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