No. of Recommendations: 3
A bit late, but found this followup article which does some more analysis.

They looked at -
- top 1 stock by $investment of 5 hedge funds.
- top 5 stocks of each
- top 5 of newcomers

Their conclusion:

"The best returns may be achieved by focusing on “new ideas” rather than “top holdings.”

https://whalewisdomalpha.com/hedge-fund-managers-best-ideas-...

"Over the last 10 years, if we held a portfolio of the top ten new positions of Baker Bros., Perceptive Advisors, Tiger Global, Lone Pine Capital and Whale Rock Capital, and rebalanced quarterly, we would achieved a 20.83% annualized return."

I'm not sure how they allocate funds to overlaps
or what happens if a stock is in the top 5 but they
have recently decreased their holdings in it (not a good sign).
Would probably use this to get some ideas from people
with big $$$ and not try to make a mechanical screen out of it.
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No. of Recommendations: 5
Nice results, thanks, rdutt.

I went directly to the Whale Rock Capital site to
look at their top holdings.

Instead of doing an overlap as you suggested,
there was a way to see which stocks they were
initiating a position &/or were increasing
the shares owned (i.e., they must like it...
and maybe I should too- after all, to drop
$100M+ on each, they must have done some
deep dive analysis- more than I could do on
my own...)

A few lines from their site sorted on Change in Shares-


Stock	Sector		                Market Value			Rank		   % Change
		        Shares		             % of Port	Prev %		Chg. in Shares	
NET	Info Tech	4,368,813	$102,580,000 	1.4		34	4,368,813	New
JD	Cons Des.	3,595,521	$145,619,000 	1.98		18	3,595,521	New
DDOG	Info Tech	6,479,221	$233,122,000 	3.18	1.95	8	3,442,267	113%
MU	Info Tech	3,071,459	$129,186,000 	1.76		23	3,071,459	New
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No. of Recommendations: 0
Doesn't GURU Etf attempt the same thing? Its results have lagged SPY since inception. ALFA, GVIP, and IBLN (now defunct) have similar strategies.

https://www.google.com/amp/s/seekingalpha.com/amp/article/40...

Concern is they chose 5 funds that outperformed the S&P and then looked at their overlap holdings.

MTUM beats all the above ETFs.
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No. of Recommendations: 1
As I understand it, they took the top 10 holdings from each of the five hedge funds, and calculated the overlaps.

I did that, using the same macro I use for the weekly overlaps report, getting the lists from WhaleWisdom.com, and came up with only two overlaps, each with only one duplication:

Symbol Count
AMZN 1
RNG 1

Hank
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No. of Recommendations: 0
...came up with only two overlaps, each with only one duplication

I think the first sort is by total number of overlaps, and the next sort is by total amount held in case the overlap count is zero. Note also how low the turnover is - the average hold time for each pick is 250 days.
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No. of Recommendations: 1
There is a group in Europe which is combining Hedge Fund copycat with quantitative screen. They have posted something about how they do it here: https://research.nava.capital/us-sentinel-an-introduction/
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No. of Recommendations: 3
A bit late, but found this followup article which does some more analysis.

They looked at -
- top 1 stock by $investment of 5 hedge funds.
- top 5 stocks of each
- top 5 of newcomers

Their conclusion:

"The best returns may be achieved by focusing on “new ideas” rather than “top holdings.”

https://whalewisdomalpha.com/hedge-fund-managers-best-ideas-...

"Over the last 10 years, if we held a portfolio of the top ten new positions of Baker Bros., Perceptive Advisors, Tiger Global, Lone Pine Capital and Whale Rock Capital, and rebalanced quarterly, we would achieved a 20.83% annualized return."

I'm not sure how they allocate funds to overlaps
or what happens if a stock is in the top 5 but they
have recently decreased their holdings in it (not a good sign).
Would probably use this to get some ideas from people
with big $$$ and not try to make a mechanical screen out of it.
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No. of Recommendations: 3
"The best returns may be achieved by focusing on “new ideas” rather than “top holdings.”

That's interesting, tpoto. But that strategy from Whale Wisdom only had a 21% CAGR with 10 stocks over 10 years, whereas the Seeking Alpha strategy delivered a much better 27% CAGR over 13 years using 20 stocks.

So the SA strategy authored by George Vrba looks vastly superior. It really matters which hedge funds you pick as inputs. Most people would prefer getting higher returns holding more stocks, not less, to be more diversified. Also, the average holding period in Vrba's strategy is one calendar year, so it's great for taxable accounts.

Here's a link to that strategy again, for reference.

https://seekingalpha.com/article/4349790-profiting-from-cons...
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No. of Recommendations: 2
One important difference is that the stocks are selected quantitatively in the whaleswisdom strategy while the George Vrba strategy he has selected managers which had a good performance in hindsight and then built the strategy.

For something quantitative mixing a selected group of hedge funds to get a stock universe and then run many different screens on that universe you have https://research.nava.capital/us-sentinel-an-introduction/
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No. of Recommendations: 4
If anyone is interested:

Using WhaleWisdom-

Funds:	
	BRANDYWINE MANAGERS, LLC
	SHANNON RIVER CAPITAL MANAGEMENT, LLC
	WHALE ROCK CAPITAL MANAGEMENT LLC

Number of Holdings	10
Stock Selection	Select: only new buys during quarter
top holdings to use from each fund	10
Weight Selection	Equally Weight Stocks
No Rebalancing	Off
Backtesting Days	46



DOCU	New Purchase.  Bought 17.928910 sh @ $122.92/sh
JD	New Purchase.  Bought 39.687040 sh @ $55.53/sh
INTC	New Purchase.  Bought 23.600570 sh @ $93.38/sh
MU	New Purchase.  Bought 47.992620 sh @ $45.92/sh
ZS	New Purchase.  Bought 29.858030 sh @ $73.81/sh
NVDA	New Purchase.  Bought 0.965860 sh @ $2,281.73/sh
LRCX	New Purchase.  Bought 7.763760 sh @ $283.86/sh
ATVI	New Purchase.  Bought 2.273130 sh @ $969.51/sh
AAPL	New Purchase.  Bought 0.433840 sh @ $5,079.75/sh


Yearly Performance			
Year	Whale	S&P 500 TR	Diff
2018	6.93%	-6.77%	        13.70%
2019	58.55%	31.49%	        27.06%
2020	46.34%	-0.26%	        46.60%
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No. of Recommendations: 1
So the SA strategy authored by George Vrba looks vastly superior.

I tried duplicating his list of stocks derived from the funds but couldn't do so. Also, there are not always 20 stocks to make the list
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No. of Recommendations: 4
From Hank's hedge fund overlap post 278241-
Thanks for doing that.

For the last month:

The two picks did pretty well vs. SPY ETF.

AMZN	RNG	SPY
11.7%	14.8%	-0.7%


closes-
Date	         AMZN	 RNG	SPY
2020-06-26	 2,693 	 289 	 300 
2020-06-25	 2,755 	 279 	 307 
2020-06-24	 2,734 	 268 	 304 
2020-06-23	 2,764 	 278 	 312 
2020-06-22	 2,714 	 288 	 311 
2020-06-19	 2,675 	 276 	 309 
2020-06-18	 2,654 	 285 	 310 
2020-06-17	 2,641 	 273 	 310 
2020-06-16	 2,615 	 277 	 312 
2020-06-15	 2,573 	 270 	 306 
2020-06-12	 2,545 	 262 	 303 
2020-06-11	 2,558 	 257 	 299 
2020-06-10	 2,647 	 275 	 318 
2020-06-09	 2,601 	 258 	 319 
2020-06-08	 2,524 	 261 	 322 
2020-06-05	 2,483 	 253 	 318 
2020-06-04	 2,461 	 254 	 310 
2020-06-03	 2,478 	 271 	 311 
2020-06-02	 2,472 	 274 	 307 
2020-06-01	 2,471 	 279 	 304 
2020-05-29	 2,442 	 274 	 303 
2020-05-28	 2,401 	 260 	 302 
2020-05-27	 2,410 	 252 	 302
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