This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

10 Stocks Hedge Funds Are Buying Like Crazy

The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage.

NEW YORK ( Insider Monkey) -- Raj Rajaratnam's trial is set to begin today. He made $200 million in 2007, barely missing the list of "highest paid hedge fund managers."

Don't feel sorry for him though. He made the list in 2000. Art Samberg topped the Wall Street's Highest Earners list with $150 Million. Art Samberg is another hedge fund manager who has been charged with insider trading. He was lucky though, Pequot and Samberg agreed to settle the SEC's charges without admitting or denying anything.

Hedge fund managers are the smartest investors around. They leave less to chance than most investors. They go great lengths to get an "edge" over ordinary investors. Insider Monkey, your source for free insider trading data, follows corporate insiders because they have access to material, nonpublic information and they sometimes trade based on it. We also follow hedge fund managers because they have the resources to do extensive research on public companies and they have access to experts who can guide them. We believe we are more likely to beat the market by imitating insiders and hedge funds than trading against them.

Based on the transactions of nearly 700 hedge funds, we compiled the list of top 10 stocks hedge funds were buying like crazy during the fourth quarter:

1. General Motors (GM - Get Report): Hedge funds snatched 6% of GM's outstanding shares and amassed a $3.4 billion position. There were 112 hedge funds with GM positions at the end of December. John Griffin's Blue Rigde, William Ackman's Pershing Square, George Soros, David Tepper's Appaloosa, Roberto Mignone's Bridger Management, Richard Perry's Perry Capital, and Leon Cooperman's Omega Advisors are among the several high profile hedge funds with GM positions.

2. Citigroup (C - Get Report): Citigroup is hedge funds' most favorite mega-cap bank. Hedge funds, 190 of them, own 8% of outstanding Citigroup shares. During the fourth quarter, they spent $2.8 billion on Citigroup shares. Steven Mandel's Lone Pine, Bruce Berkowitz's Fairholme, Lee Ainslie's Maverick Capital, George Soros, Bill Miller's Legg Mason Capital Management, Bill Ackman's Pershing Square, David Tepper's Appaloosa, Daniel Loeb's Third Point, Andreas Halvorsen's Viking Global, Richard Perry's Perry Capital, Joseph DiMenna's Zweig-DiMenna, Leon Cooperman's Omega Advisors, Brevan Howard, and John Paulson's Paulson & Co are among the prominent investors who are bullish about Citigroup.
1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
C $49.88 0.00%
CSCO $25.76 0.00%
GOOG $626.91 0.00%
GM $31.73 0.00%
HPQ $26.07 0.00%


Chart of I:DJI
DOW 16,472.37 +200.36 1.23%
S&P 500 1,951.36 +27.54 1.43%
NASDAQ 4,707.7750 +80.6910 1.74%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs