These Are The 5 Stocks Top Fund Managers Are Snapping Up- 13F Filings Just Released

Hedge fund trades have just been made public for the last quarter with the release of 13F forms filed with the SEC.

It should be noted that fund managers are only required to submit these 13F forms to the SEC 45 days after the end of the last quarter. That means by the time the information is made public it is no longer necessarily current. Nonetheless, these trades still give a valuable insight into the direction top fund managers believe the market is heading.

Here are five stocks with a particularly bullish hedge fund sentiment- based on a mixture of the percentage increase in holdings and the actual dollar amount of that change:

1. Snap

Shares in Snapchat parent SNAP soared by over 8% after hedge funds revealed their positions in the stock for the first time since the company went public in March. Big name fund managers who now hold SNAP shares include George Soros; Philippe Laffont; Daniel Loeb; Rob Citrone and Steve Mandel.

Philippe Laffont, manager of the $10.4 billion Coatue Management fund, has the biggest SNAP position with a holding valued at $472 million; Frank Sands comes in second with a $237 million holding for his $31 billion Sands Capital Management fund.

SNAP is now trading at close to $21, an improvement from the $18 share price on May 11. Shares dropped 20% following the release of the company’s sparse first earnings report.

However, Drexel Hamilton’s Brian White maintained his bullish stance with a buy rating and $30 price target saying: “Given the size of the opportunity in front of Snap and the early stages of the companys development, we do not believe it is constructive to nitpick on every detail of the companys first few quarterly reports, or investors risk missing the forest for the trees.

2. Starbucks

This famous frappuccino maker is a hit with hedge funds and analysts. SBUX, which has a Strong Buy analyst consensus rating, is being snapped up by fund managers such as Frank Sands ($560 million), Lisa M Jones ($380 million) and Ryan Pedlow ($206 million). Indeed, holdings of the stock increased by 9.8 million shares in total in the last quarter.

3. Bioverativ

Another new entrant is Bioverativ (BIVV) an American multinational biotech that specializes in hemophilia. BIVV is a recent spin-off from Biogen’s (BIIB) former hemophilia units (Eloctate and Alprolix)- so as with SNAP this is the first time funds are revealing their positions.

Multiple fund managers have initiated BIVV positions, most notably Theofanis Kolokotrones and Jeff Ubben who have each invested over $400 million in the stock. Meanwhile, Arthur Cohen of health-focused $2.2 billion fund HealthCor Management – and one of TipRanks’ top 10 fund managers- took a $270 million position in Bioverativ, which has a Moderate Buy analyst consensus rating.

4. Advanced Micro Devices

Hedge fund holdings in volatile semiconductor stock AMD shot up by 9.4 million shares in the last quarter. AMD has been staging a comeback with the release of the much-hyped Ryzen CPU and its expanding lineup of Ryzen additions, including the just-announced high-end 16-core ‘Threadripper’.

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Rob Citrone of the $5 billion Discovery Capital Management fund initiated a position in the stock worth $163 million. However top fund manager Christopher Lord slashed his AMD shareholding by about a quarter to just $6.7 million.

5. NetEase

One of China’s biggest online gaming companies, NetEase (NTES) has a very positive hedge fund signal based on the trades of 15 hedge funds in the last quarter. A number of fund managers decided to increase their NTES exposure including Ken Fisher of Fisher Asset Management who initiated a position of nearly $100 million.

The stock, which also has an analyst consensus rating of Strong Buy, recently reported extremely impressive growth with total net revenue up over 70% year-over-year. NetEase reported earnings on May 10 of $4.75 per share on revenues of $2 billion easily beating Street expectations on EPS by 20% and revenue by 16%.

Disclaimer: TipRanks is an independent cloud based service that measures and ranks digitally published financial advice. TipRanks' natural language ...

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