This is a slightly positive signal but we'd rather spend our time researching stocks that hedge funds are piling on. Stocks with higher number of hedge fund positions relative to other stocks as well as relative to their historical range receive a higher sentiment score. Our overall hedge fund sentiment score for SPOT is 62.8. (NYSE:SPOT) is not the most popular stock in this group but hedge fund interest is still above average. On the other hand ABB Ltd (NYSE: ABB) is the least popular one with only 8 bullish hedge fund positions. General Motors Company (NYSE: GM) is the most popular stock in this table. That figure was $2689 million in SPOT's case.
View table here if you experience formatting issues.Īs you can see these stocks had an average of 43.1 hedge funds with bullish positions and the average amount invested in these stocks was $2451 million. This group of stocks' market valuations resemble SPOT's market valuation. (NYSE: VMW), Atlassian Corporation Plc (NASDAQ: TEAM), The Progressive Corporation (NYSE: PGR), Ferrari N.V. These stocks are General Motors Company (NYSE: GM), Marsh & McLennan Companies, Inc. Let's go over hedge fund activity in other stocks - not necessarily in the same industry as Spotify Technology S.A. The following funds were also among the new SPOT investors: Frank Fu's CaaS Capital, Morris Mark's Mark Asset Management, and Thomas Lee's Lee Capital Management. Rob Cope's Columbus Point also initiated a $9.2 million position during the quarter. Columbus Circle Investors had $15 million invested in the company at the end of the quarter. Columbus Circle Investors, managed by Principal Global Investors, established the most valuable position in Spotify Technology S.A. With a general bullishness amongst the heavyweights, key hedge funds have jumped into Spotify Technology S.A. Highside Global Management is also relatively very bullish on the stock, earmarking 8.15 percent of its 13F equity portfolio to SPOT. (NYSE:SPOT), around 10.05% of its 13F portfolio. In terms of the portfolio weights assigned to each position Greenlea Lane Capital allocated the biggest weight to Spotify Technology S.A. Tremblant Capital, Polar Capital, and GLG Partners were also very fond of the stock, becoming one of the largest hedge fund holders of the company. Trailing Tiger Global Management LLC was ARK Investment Management, which amassed a stake valued at $741.4 million. (NYSE:SPOT), with a stake worth $1001.9 million reported as of the end of December. More specifically, Tiger Global Management LLC was the largest shareholder of Spotify Technology S.A.
Nevertheless, we were still able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by 124 percentage points since March 2017 ( see the details here). Our research has shown that hedge funds' small-cap stock picks managed to beat the market by double digits annually between 19, but the margin of outperformance has been declining in recent years. 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 SPOT isn't among the 30 most popular stocks among hedge funds (click for Q4 rankings). There were 44 hedge funds in our database with SPOT positions at the end of the third quarter. SPOT investors should pay attention to an increase in enthusiasm from smart money recently.
The all time high for this statistic is 67. (NYSE: SPOT) was in 48 hedge funds' portfolios at the end of the fourth quarter of 2020. Is SPOT stock a buy or sell? Spotify Technology S.A. Let’s take a closer look at what the funds we track think about Spotify Technology S.A. The stocks that are heavily bought by hedge funds historically outperformed the market, though there is no shortage of high profile failures like hedge funds' 2018 losses in Facebook and Apple. Our extensive research has shown that imitating the smart money can generate significant returns for retail investors, which is why we track nearly 900 active prominent money managers and analyze their quarterly 13F filings.
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