Four stocks were added to the list of 15 stocks most overweighted by hedge funds at the end of the first quarter.
They are Priceline.com, Massey Energy, Family Dollar, and Pioneer Natural Resources, according to a new analysis by the Quantitative research team at Credit Suisse Securities.
They replaced Genzyme, McAfee, Airgas and Coca Cola Enterprises.
Interestingly, Citigroup was overweighted by hedge fund investors , but in the top underweighted list for institutional investors, which Credit Suisse also calculated. A number of hedge funds took new positions in Citi in the first quarter, including Kingdon Capital, which made the bank its largest new addition.
Sears, AutoZone and AutoNation are long-time large holdings of Eddie Lampert’s ESL Partners.
Carl Icahn is a holder of Motorola Solutions, obtained when Motorola broke into two companies at the beginning of January.
At least two firms took sizable new positions in Wellpoint—Farallon Capital Management and Zweig-DiMenna Partners.
Bruce Kovner’s Caxton is the seventh largest holder of Viacom, by far his largest holding.
John Paulson’s Paulson & Co. is the third largest holder of Anadarko, which also happens to be his fifth largest holding, worth more than $1.5 billion at the end of the first quarter.
However, London-based Lansdowne Partners took by far the largest new position in Anadarko in the first quarter, having bought nearly 7.4 million shares worth $539 million.
Meanwhile, three Tiger Cubs were among the four hedge funds that took the largest new positions in Priceline.com—Viking Global Investment, Lone Pine Capital and Coatue Management.
On the other hand, Schlumberger was the only new addition to the list of firms that hedge funds underweighted the most in the first quarter. It replaced Microsoft from the list.
