As the last round of 13F filings came to an end last week, let’s see how different stocks have been placed in the equity portfolio of hedge funds. One of the stocks that we picked is Glacier Bancorp, Inc. (NASDAQ:GBCI), which was in 12 hedge funds’ portfolios at the end of the third quarter. Moreover, GBCI shareholders have seen an increase in activity from some big hedge funds during the July-September period, with 10 hedge funds in Insider Monkey ( a website specializing in hedge funds) database with GBCI positions at the end of the previous quarter, includng Ken Fisher’s Fisher Asset Management and Israel Englander’s Millennium Management, among others.
So, let’s review the key action regarding Glacier Bancorp, Inc. (NASDAQ:GBCI).
Hedge fund activity in Glacier Bancorp:
As it was mentioned earlier, at the end of September, a total of 12 of the hedge funds tracked by Insider Monkey held long positions in this stock, a change of 20% over the quarter. In this way, with many shares of the company held by hedge funds just changing hands, there is a group of important hedge fund managers who were boosting their holdings in Glacier considerably during the third quarter.
According to Insider Monkey’s database, Ken Fisher’s Fisher Asset Management was the largest shareholder of Glacier Bancorp, Inc. (NASDAQ:GBCI), with a stake worth close to $59.3 million, which, however, amasses only 0.1% of its total equity portfolio. The second-largest stake is held by Forest Hill Capital, managed by Mark Lee, which disclosed a $22.3 million position, equal to 2.4% of its 13F portfolio. Some other hedge funds that hold long positions include Israel Englander’s Millennium Management, Jim Simons’s Renaissance Technologies and D. E. Shaw’s D E Shaw.
Consequently, other big money managers have been driving this ‘bullishness’. For example, Skylands Capital, managed by Charles Paquelet, established the most valuable position in Glacier Bancorp, Inc. (NASDAQ:GBCI). The fund had around $800,000 invested in the company at the end of the quarter. Peter Muller’s PDT Partners also made a $700,000 million investment in the stock during the third quarter. Another fund with a new GBCI stake is Jacob Gottlieb’s Visium Asset Management.
You might be wondering: why is this important? Well, according to most investors, hedge funds often go under the radars, since they are often considered some not important and old investment vehicles. Nevertheless, Insider Monkey keeps track of around 700 hedge funds out of more than 8000 funds that are in operation today. Experts at Insider Monkey keep track of the best equity investments of the hedge funds from its database and discovered that by tracking these positions, retail investors can find a strategy that will help them beat the broader indices. As an example, Insider Monkey’s small-cap hedge fund strategy defeated the S&P 500 index by 18 percentage points per annum for a decade in their back tests.