Shareholders of Gilead Sciences, Inc. (NASDAQ:GILD) should keep in mind that many big investors are currently supporting the company, as Insider Monkey data show. The majority of investors consider that hedge funds are assumed to be unimportant, and rather unpopular investment tools of the past. However, there are over 8,000 funds spread around the globe and hedge fund experts at Insider Monkey keep track of approximately 700 funds. These money managers control the largest part of the hedge fund industry’s total asset base, and by mimicking their highest performing positions, Insider Monkey has discovered several investment strategies that have historically defeated Mr. Market. For example, Insider Monkey’s small-cap hedge fund strategy beat the S&P 500 index by 18 percentage points per year for a decade in their back tests.
In this way, we should ask ourselves: what’s going on at Gilead Sciences, Inc. (NASDAQ:GILD)?
At the end of september, 81 of the hedge funds from Insider Monkey’s database were long in this company, up by 4% on the quarter. While a big part of the capital has been changing hands, there is an “upper tier” of key hedge fund managers who were more bullish on the stock than others.
In this way, according to hedge fund intelligence website Insider Monkey, Egerton Capital Limited, managed by John Armitage, is the largest shareholder of Gilead Sciences, Inc. (NASDAQ:GILD), with a $606.7 million position in the stock, comprising 8.2% of its equity portfolio. It is followed by Orbis Investment Management, led by William B. Gray, which held a $453.3 million position; the fund has 3.6% of its 13F portfolio invested in the stock. Among other hedgies with similar optimism is Donald Chiboucis’s Columbus Circle Investors, Samuel Isaly’s OrbiMed Advisors and D. E. Shaw’s D E Shaw.
Now, key hedge funds were breaking ground themselves. Matthew Hulsizer’s PEAK6 Capital Management initiated the most valuable position in Gilead Sciences, Inc. (NASDAQ:GILD). PEAK6 Capital Management had $38.2 million invested in the company at the end of the quarter. Matthew Iorio’s White Elm Capital also added the stock to its equity portfolio and owns a $34.8 million position. Among other funds with brand new GILD positions are Stanley Druckenmiller’s Duquesne Capital, and David Costen Haley’s HBK Investments.