With the approaching end of SEC 13F filing season, TransCanada Corporation (USA) (NYSE:TRP), Apple Inc. (NASDAQ:AAPL), Allergan, Inc. (NYSE:AGN) have emerged as the top stocks preferred by hedge fund managers. According to the analysis of Insider Monkey, these stocks have exhibited excellent growth in the last quarter and have attracted investors during the same period. (Click here to see expert analysis of the latest rounds of SEC 13F filings at the end of the third quarter)
While talking about the SEC 13F filings on Business News Network, Meena Krishnamsetty, managing editor and co-founder of Insider Monkey, highlighted an increase in investor activity around TransCanada Corporation (USA) (NYSE:TRP). When compared with the hedge fund positions at the end of the second quarter, TransCanada is now a part of 34 equity portfolios as compared to 11 at the end of the previous quarter.
While talking about TransCanada Corporation (USA) (NYSE:TRP), Meena added,
“[…] They [hedge fund managers] go golfing, they have investment ideas dinners. So, when we see that the hedge fund activity in TransCanada Corporation (USA) (NYSE:TRP) jumped to 34 hedge funds, versus 11 from last quarter, we suspect that there is a lot of piggybacking.”
The iPhone maker, Apple Inc. (NASDAQ:AAPL), was somehow at the losing end with its net positions falling to $22.51 billion and 153 hedge fund positions as compared to 152 in the last quarter. Meena said that the low positions are primarily because of the investors taking upon the profit from recent stock gains. Carl Icahn is the largest investor of Apple Inc. (NASDAQ:AAPL) with 52.6 million shares of the company.
Allergan, Inc. (NYSE:AGN) is another stock in SEC 13F filings gaining investor attention and 100 hedge funds held position in Allergan at the end of the third quarter. Allergan, Inc. (NYSE:AGN) has agreed for a merger with Actavis plc (NYSE:ACT) for $66 billion. The jump in share prices and the profit from recent acquisition has paid off well for the investors.