Hedge funds’ ‘rising and falling stars’ – stocks with the largest increases and decreases in popularity

[stock market index graph. Candlestick chart, Stock market growth illustration]

Goldman Sachs analysts listed the stocks with the largest increases and decreases in hedge fund popularity during the second quarter.

These are the companies hedge funds have shown the largest increase in ownership, based on their most recent 13F filings.

Ben Snider, Goldman Sachs senior equity strategist, said that changes in hedge fund popularity can be signals for future stock performance.

“Historically, stocks with the largest increase in the number of hedge fund investors have typically gone on to outperform sector peers during the quarters following their rise in popularity,” he said.

Similarly, stocks with the largest decline in ownership “have subsequently underperformed peers on average.”

RISING STARS:

* Capital One Financial (COF [https://seekingalpha.com/symbol/COF]) – Change in # of HFs owning the stock: +49
* Loar Holdings Inc. (LOAR [https://seekingalpha.com/symbol/LOAR]) – Change in # of HFs owning the stock: +37
* Skechers U.S.A. (SKX [https://seekingalpha.com/symbol/SKX]) – Change in # of HFs owning the stock: +35
* Carpenter Technology (CRS [https://seekingalpha.com/symbol/CRS]) – Change in # of HFs owning the stock: +34
* QXO, Inc. (QXO [https://seekingalpha.com/symbol/QXO]) – Change in # of HFs owning the stock: +34
* Fiserv, Inc. (FI [https://seekingalpha.com/symbol/FI]) – Change in # of HFs owning the stock: +33
* Kenvue, Inc. (KVUE [https://seekingalpha.com/symbol/KVUE]) – Change in # of HFs owning the stock: +32
* Brown & Brown, Inc. (BRO [https://seekingalpha.com/symbol/BRO]) – Change in # of HFs owning the stock: +31
* Nu Holdings Ltd. (NU [https://seekingalpha.com/symbol/NU]) – Change in # of HFs owning the stock: +29
* Ulta Beauty Inc. (ULTA [https://seekingalpha.com/symbol/ULTA]) – Change in # of HFs owning the stock: +28
* Intuit Inc. (INTU [https://seekingalpha.com/symbol/INTU]) – Change in # of HFs owning the stock: +27
* Ross Stores, Inc. (ROST [https://seekingalpha.com/symbol/ROST]) – Change in # of HFs owning the stock: +26
* Berkshire Hathaway Inc. (BRK.B [https://seekingalpha.com/symbol/BRK.B]) – Change in # of HFs owning the stock: +26
* SouthState (SSB [https://seekingalpha.com/symbol/SSB]) – Change in # of HFs owning the stock: +25
* Old Dominion Freight Line, Inc. (ODFL [https://seekingalpha.com/symbol/ODFL]) – Change in # of HFs owning the stock: +24
* Insmed Inc. (INSM [https://seekingalpha.com/symbol/INSM]) – Change in # of HFs owning the stock: +24
* Republic Services, Inc. (RSG [https://seekingalpha.com/symbol/RSG]) – Change in # of HFs owning the stock: +24
* James Hardie Industries (JHX [https://seekingalpha.com/symbol/JHX]) – Change in # of HFs owning the stock: +24
* Otis Worldwide (OTIS [https://seekingalpha.com/symbol/OTIS]) – Change in # of HFs owning the stock: +24
* Bristol-Myers Squibb (BMY [https://seekingalpha.com/symbol/BMY]) – Change in # of HFs owning the stock: +23

FALLING STARS:

* Knight-Swift Transportation Holdings (KNX [https://seekingalpha.com/symbol/KNX]) – Change in # of HFs owning the stock: -21
* DT Midstream (DTM [https://seekingalpha.com/symbol/DTM]) – Change in # of HFs owning the stock: -21
* Concentrix (CNXC [https://seekingalpha.com/symbol/CNXC]) – Change in # of HFs owning the stock: -21
* Dominion Energy (D [https://seekingalpha.com/symbol/D]) – Change in # of HFs owning the stock: -20
* Pfizer (PFE [https://seekingalpha.com/symbol/PFE]) – Change in # of HFs owning the stock: -20
* Stifel Financial (SF [https://seekingalpha.com/symbol/SF]) – Change in # of HFs owning the stock: -19
* Archer-Daniels-Midland (ADM [https://seekingalpha.com/symbol/ADM]) – Change in # of HFs owning the stock: -19
* Chipotle Mexican Grill (CMG [https://seekingalpha.com/symbol/CMG]) – Change in # of HFs owning the stock: -19
* Fidelity National Financial (FNF [https://seekingalpha.com/symbol/FNF]) – Change in # of HFs owning the stock: -19
* Atlassian (TEAM [https://seekingalpha.com/symbol/TEAM]) – Change in # of HFs owning the stock: -19
* Halliburton (HAL [https://seekingalpha.com/symbol/HAL]) – Change in # of HFs owning the stock: -18
* Eaton (ETN [https://seekingalpha.com/symbol/ETN]) – Change in # of HFs owning the stock: -18
* EOG Resources (EOG [https://seekingalpha.com/symbol/EOG]) – Change in # of HFs owning the stock: -18
* Okta (OKTA [https://seekingalpha.com/symbol/OKTA]) – Change in # of HFs owning the stock: -18
* Cloudflare (NET [https://seekingalpha.com/symbol/NET]) – Change in # of HFs owning the stock: -18
* Southern Company (SO [https://seekingalpha.com/symbol/SO]) – Change in # of HFs owning the stock: -17
* Mettler-Toledo International (MTD [https://seekingalpha.com/symbol/MTD]) – Change in # of HFs owning the stock: -17
* Nexstar Media Group (NXST [https://seekingalpha.com/symbol/NXST]) – Change in # of HFs owning the stock: -17
* Oshkosh (OSK [https://seekingalpha.com/symbol/OSK]) – Change in # of HFs owning the stock: -17
* Alphabet (GOOGL [https://seekingalpha.com/symbol/GOOGL]) – Change in # of HFs owning the stock: -17

MORE ON THE MARKETS:

* Summer Doldrums & Rising Peaks: Jackson Hole In The Spotlight [https://seekingalpha.com/article/4815650-summer-doldrums-and-rising-peaks-jackson-hole-in-the-spotlight]
* Powell's Jackson Hole Speech May Trigger A Massive Bear Steepener [https://seekingalpha.com/article/4815647-powell-jackson-hole-speech-may-trigger-a-massive-bear-steepener]
* Forget The Cut: Jackson Hole Will Decide The Market's Fate [https://seekingalpha.com/article/4815632-forget-the-cut-jackson-hole-will-decide-the-markets-fate]
* Wall Street drifts lower as Walmart weighs on markets and eyes are on Jackson Hole [https://seekingalpha.com/news/4487957-sp500-nasdaq-dow-jones-outlook-stock-market]
* Stock market opens in red as Walmart weighs, rate cuts continue to be in focus [https://seekingalpha.com/news/4487751-sp500-nasdaq-dow-jones-outlook-stock-market]