These stocks are Huaneng Power International Inc (NYSE: HNP), EQT Corporation (NYSE: EQT), Colfax Corporation (NYSE: CFX), J2 Global Inc (NASDAQ: JCOM), Sarepta Therapeutics Inc (NASDAQ: SRPT), Louisiana-Pacific Corporation (NYSE: LPX), and Vir Biotechnology, Inc. Let's now take a look at hedge fund activity in other stocks similar to Lumentum Holdings Inc (NASDAQ:LITE). These transactions are important to note, as aggregate hedge fund interest was cut by 2 funds in the second quarter. It's worth mentioning that Michel Massoud's Melqart Asset Management dropped the largest position of all the hedgies tracked by Insider Monkey, comprising about $32.4 million in stock, and Ken Griffin's Citadel Investment Group was right behind this move, as the fund said goodbye to about $28.9 million worth. Boardman Bay Capital Management is also relatively very bullish on the stock, dishing out 3.38 percent of its 13F equity portfolio to LITE.īecause Lumentum Holdings Inc (NASDAQ:LITE) has experienced declining sentiment from the entirety of the hedge funds we track, we can see that there exists a select few money managers that decided to sell off their positions entirely in the second quarter.
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In terms of the portfolio weights assigned to each position Divisar Capital allocated the biggest weight to Lumentum Holdings Inc (NASDAQ:LITE), around 6.26% of its 13F portfolio. Alyeska Investment Group, Citadel Investment Group, and Pentwater Capital Management were also very fond of the stock, becoming one of the largest hedge fund holders of the company. Trailing ValueAct Capital was Fisher Asset Management, which amassed a stake valued at $69.5 million.
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More specifically, ValueAct Capital was the largest shareholder of Lumentum Holdings Inc (NASDAQ:LITE), with a stake worth $79.3 million reported as of the end of June. So you can still find a lot of gems by following hedge funds' moves today. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 79 percentage points since March 2017 ( see the details here). Hedge funds have more than $3.5 trillion in assets under management, so you can't expect their entire portfolios to beat the market by large margins. Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Our calculations also showed that LITE isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings). There were 31 hedge funds in our database with LITE holdings at the end of March. LITE has experienced a decrease in hedge fund interest in recent months. The all time high for this statistic is 42. Lumentum Holdings Inc (NASDAQ: LITE) was in 29 hedge funds' portfolios at the end of the second quarter of 2021. However, in this article we will take a look at their collective moves over the last 6 years and analyze what the smart money thinks of Lumentum Holdings Inc (NASDAQ: LITE) based on that data. You can find articles about an individual hedge fund's trades on numerous financial news websites. The 13F filings show the hedge funds' and successful investors' positions as of the end of the second quarter.
Insider Monkey has processed numerous 13F filings of hedge funds and successful value investors to create an extensive database of hedge fund holdings.