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Trading Top 10 Stocks From 40 Large Hedge Funds – Trading Update 7/2/2022

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The 13F filings for Q1-2022 were completed by May 15, hence we updated the universe of the consensus stocks from 40 large hedge fund. The change in holdings are seen in the trading signals for iM-Top50(of 40 Large Hedge Funds), see below.

Research from Barclays and Novus published in October 2019 found that a copycat stock selection strategy that combines conviction and consensus of fund managers that have longer-term views outperformed the S&P 500 by 3.80% on average annually from Q1 2004 to Q2 2019.

Based on that rational, we previously presented two trading models (in Article-1 and Article-2) that use the top 50 consensus stocks of 40 Large Hedge Funds (listed in Appendix A below), that historically outperformed the S&P 500. The iM-Top50(from 40 Hedge Funds) model holds all 50 stocks equally weighted and has a low turnover. The iM-Top10(from 40 Hedge Funds) model holds a subset of 10 stocks, also equally weighted, but with higher turnover which is rewarded by improved returns.

The performance simulation, and generation of trading signals, for these strategies is done using the platform Portfolio123 and reported below. For more comprehensive description of the 50-stock universe, please refer to here.

Note: This update is published on Seeking Alpha, editor permitting, only if the model has generated trading signals.

Model Performance:

relative performance

iMarketSignals

Note: The iM-Top10VariableWeight model (green line) is an experimental model. It holds the same stocks as the iM-Top10 model put position weights are adjusted to an inverse function of market capitalization, that is the higher the market cap of the stock the lower the position weight. As a consequence, it is difficult to trade as market capitalization changes with the stock price.

Trade Signals for 7/5/2022

iM-Top10(of 40 Large Hedge Funds)
Ticker Action Shares Name
UNP SELL 128 Union Pacific Corp
INCY BUY 310 Incyte Corp
BBWI Rebalance Buy 148 Bath & Body Works Inc

iM-Top50(of 40 Large Hedge Funds)
Ticker Action Shares Name
No Trades


The models trade on the first trading day of the week. Trading signals are published on a weekly basis here on Seeking Alpha (subject to model trading and editor’s acceptance) and on iMarketSignals. Next update on Sunday 7/10/2022


Holdings for iM-Top10 (of 40 Large Hedge Funds) as of 7/1/2022

Current Portfolio 7/1/2022 Cash Flow
Ticker Number of Shares Weight Value now Open Date Open Costs Rebal Costs | Return Dividends Received Gain to date
(AAPL) 188 10.03% $26,119 06/13/22 ($24,955) $1,164
(BBWI) 715 7.66% $19,934 02/28/22 ($30,285) ($4,517) $143 ($14,725)
(DHR) 103 10.21% $26,579 06/13/22 ($25,190) $26 $1,415
(MA) 76 9.29% $24,186 05/02/22 ($27,266) ($3,080)
(NFLX) 147 10.16% $26,453 05/16/22 ($27,760) ($1,307)
(QCOM) 218 10.34% $26,930 08/02/21 ($32,635) $2,794 $586 ($2,325)
(SCHW) 421 10.34% $26,910 05/16/22 ($27,054) ($143)
(TDG) 50 10.40% $27,085 05/23/22 ($28,158) ($1,073)
(UNP) 129 10.67% $27,769 05/23/22 ($27,931) $168 $6
(V) 140 10.71% $27,885 12/07/20 ($30,865) $1,269 $308 ($1,403)

Holdings for iM-Top50(of 40 Large Hedge Funds) as of 7/1/2022

Current Portfolio 7/1/2022 Cash Flow
Ticker Number of Shares Weight Value now Open Date Open Costs Rebal Costs | Return Dividends Received Gain to date
(AAPL) 31 2.54% $4,307 01/04/16 ($2,109) $3,910 $264 $6,371
(ADBE) 10 2.17% $3,685 01/04/16 ($2,118) $2,765 $4,333
(AMT) 13 1.98% $3,359 01/04/16 ($2,033) $1,938 $480 $3,744
(AMZN) 30 1.94% $3,287 01/04/16 ($1,913) $3,784 $5,158
(APP) 92 1.90% $3,218 05/30/22 ($3,147) ($1,142) ($1,070)
(BBWI) 98 1.61% $2,732 02/28/22 ($4,533) ($805) $17 ($2,589)
(BRK.B) 11 1.80% $3,053 05/23/22 ($4,343) $631 ($659)
(BSX) 89 1.99% $3,383 02/24/20 ($3,949) $387 ($179)
(CNI) 27 1.80% $3,056 05/23/22 ($4,410) $1,315 $23 ($17)
(COUP) 55 1.93% $3,271 08/19/19 ($3,549) ($3,674) ($3,951)
(CRM) 19 1.88% $3,196 05/22/17 ($2,315) $897 $1,778
(CRWD) 20 2.11% $3,585 05/26/20 ($4,210) $5,590 $4,965
(DASH) 53 2.12% $3,601 05/30/22 ($3,127) ($1,381) ($907)
(DHR) 13 1.98% $3,355 08/19/19 ($3,547) $3,226 $54 $3,088
(DIS) 33 1.87% $3,173 08/24/20 ($5,102) $790 ($1,139)
(DOCU) 50 1.80% $3,061 08/24/20 ($5,118) ($3,821) ($5,878)
(ELV) 7 2.01% $3,402 02/28/22 ($4,503) $1,382 $29 $310
(FATE) 167 2.48% $4,198 02/16/21 ($6,499) ($4,835) ($7,136)
(FISV) 44 2.40% $4,074 11/18/19 ($3,209) ($1,830) ($966)
(FOLD) 396 2.52% $4,277 05/23/22 ($4,407) $1,277 $1,147
(GOOGL) 2 2.56% $4,350 01/04/16 ($2,281) $2,292 $4,361
(INCY) 47 2.15% $3,650 02/28/22 ($4,566) $1,320 $405
(INTU) 9 2.06% $3,495 02/19/19 ($3,523) $2,617 $106 $2,694
(KMX) 34 1.86% $3,151 05/24/21 ($5,377) $1,166 ($1,060)
(MA) 10 1.88% $3,182 01/04/16 ($2,088) $2,908 $139 $4,141
(MCO) 12 1.94% $3,299 01/04/16 ($2,044) $2,718 $251 $4,224
(META) 19 1.79% $3,041 01/04/16 ($2,047) ($411) $583
(MSFT) 16 2.45% $4,153 01/04/16 ($2,085) $3,882 $356 $6,307
(NFLX) 22 2.33% $3,959 01/04/16 ($2,092) ($411) $1,457
(NOW) 7 2.00% $3,391 11/19/18 ($2,825) $3,386 $3,951
(NVDA) 19 1.63% $2,759 02/24/20 ($3,830) $7,187 $16 $6,132
(QCOM) 25 1.82% $3,088 08/24/20 ($5,106) $2,885 $220 $1,087
(RIVN) 117 1.77% $3,007 05/30/22 ($3,131) ($716) ($840)
(SCHW) 53 2.00% $3,388 02/28/22 ($4,555) ($268) $11 ($1,425)
(SGEN) 24 2.55% $4,323 01/04/16 ($2,099) $2,907 $5,131
(SHOP) 90 1.67% $2,827 11/18/19 ($3,233) $1,176 $769
(SNOW) 27 2.30% $3,902 02/16/21 ($6,487) ($144) ($2,728)
(SPGI) 9 1.82% $3,090 05/23/22 ($4,544) $1,284 $11 ($159)
(TDG) 6 1.92% $3,250 01/04/16 ($2,071) $2,411 $912 $4,502
(TMO) 8 2.59% $4,386 05/23/22 ($4,446) $2 ($57)
(TMUS) 25 2.02% $3,420 05/23/22 ($4,395) $1,129 $155
(TSLA) 6 2.41% $4,091 05/26/20 ($4,098) $10,984 $10,976
(TSM) 37 1.68% $2,849 11/22/21 ($6,768) $2,065 $61 ($1,793)
(UBER) 185 2.33% $3,948 05/23/22 ($4,358) ($410)
(UNH) 7 2.14% $3,622 05/22/17 ($2,274) $3,820 $314 $5,482
(UNP) 14 1.78% $3,014 05/23/22 ($4,331) $1,256 $26 ($34)
(V) 17 2.00% $3,386 01/04/16 ($2,046) $1,651 $164 $3,154
(W) 64 1.71% $2,900 11/23/20 ($5,390) ($4,639) ($7,128)
(WDAY) 22 1.85% $3,132 05/26/20 ($4,213) $498 ($583)

Appendix A

Hedge Fund Filers:

  1. Akre Capital Management LLC
  2. Alkeon Capital Management LLC
  3. Altimeter Capital Management, LP
  4. Aristotle Capital Management, LLC
  5. Baker Bros. Advisors LP
  6. Barings LLC
  7. Calamos Advisors LLC
  8. Capital International Ltd
  9. Citadel Advisors LLC
  10. Coatue Management LLC
  11. D. E. Shaw & Company, Inc.
  12. Disciplined Growth Investors Inc
  13. DSM Capital Partners LLC
  14. Echo Street Capital Management LLC
  15. FMR LLC
  16. Fort Washington Investment Advisors Inc
  17. GW&K Investment Management, LLC
  18. Hitchwood Capital Management LP
  19. Jennison Associates LLC
  20. King Luther Capital Management Corp
  21. Kohlberg Kravis Roberts & Company LP
  22. Lone Pine Capital LLC
  23. Loomis Sayles & Company LP
  24. Matrix Capital Management Company, LP
  25. Meritage Group LP
  26. Panagora Asset Management Inc
  27. Perceptive Advisors LLC
  28. Pinebridge Investments, LP
  29. Redmile Group, LLC
  30. Renaissance Technologies LLC
  31. Riverbridge Partners LLC
  32. Ruane, Cunniff & Goldfarb LP
  33. Steadfast Capital Management LP
  34. TCI Fund Management Ltd
  35. Tiger Global Management LLC
  36. Verition Fund Management LLC
  37. Viking Global Investors LP
  38. Westfield Capital Management Company LP
  39. Whale Rock Capital Management LLC
  40. Winslow Capital Management, LLC

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