StreetofWalls.com (SOW) has released its "Hedge Fund Intelligence" report update for 1Q 2012 on the individual portfolio holdings of the top 22 Hedge Funds. As in the previous SOW reports posted on this blog, the basic inputs for the current update were drawn from SEC form 13-F filings.
Here's SOW's Quick Takeaways from the current report:
- The most crowded new ideas during the quarter were AAPL, GOOG, WYNN, and HCA. Other new positions shared among hedge funds but with less overlap were PCLN, DTV, LBTYA, SHW, ANV, NFLX, VRSN, SHW, TRIP, and SIRI;
- Excluding large allocation from Hayman, Financials saw a -2.0% decline in sector exposures. Low rates and mortgage related put-back problems in Financials may have led managers to trim and exit positions within the space throughout 2011 and into 2012;
- A majority of hedge funds largest positions were shared amongst the hedge funds in our universe. AAPL was by far the most crowded position in the top 12 holdings for hedge funds: Greenlight, Lone Pine, Appaloosa, Maverick, Passport, Blue Ridge, Coatue, and Tiger all have AAPL as one of the largest position in their holdings. Other large crowded positions include GOOG, ESRX, DLPH, QCOM, and C; and
- On average the funds listed below bought companies with a 2012 forward price to earnings ratio of 17.5x vs 18.6x last quarter. Appaloosa and Viking bought into the higher valuation stocks at 47.4x and 27.9x respectively while Glenview and Hayman bought into much lower valuations at 12.4x and 11.8x, respectively.












