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Street of Walls Hedge Fund Intelligence 4Q11

Street of Walls Hedge Fund Intelligence 4Q11

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Published by chris_clair9652

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Categories:Types, Research
Published by: chris_clair9652 on Feb 22, 2012
Copyright:Attribution Non-commercial


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Below we break-down the most shared stocks held in at the top 23 hedge funds. Crowded trades can lead to higher
than normal share price volatility.

We examined the number of positions that were shared among our hedge fund universe, giving us an understanding of
how the herd is acting. For the top 23 hedge funds we cover, the most crowded books were from Jana, Farallon, Lone
Pine, Maverick, Tiger, and Blue Ridge (lots of Tiger Cubs in there). The least crowded positions among the books
were held at Berkshire, Baupost, Hayman, Icahn, and Hawkshaw.

Below are the top 8 positions held at each fund, followed by the amount overlap at other hedge funds. For example,
MSFT is Greenlight’s second largest position and is owned by 4 other hedge funds we cover.


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