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Published on 8 Nov 2021 on Insider Monkey via Yahoo Finance

Were Hedge Funds Right About Westinghouse Air Brake Technologies Corporation (WAB)?


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A whopping number of 13F filings filed with U.S. Securities and Exchange Commission has been processed by Insider Monkey so that individual investors can look at the overall hedge fund sentiment towards the stocks included in their watchlists. These freshly-submitted public filings disclose money managers’ equity positions as of the end of the three-month period that ended June 30th, so let’s proceed with the discussion of the hedge fund sentiment on Westinghouse Air Brake Technologies Corporation (NYSE:WAB).

Westinghouse Air Brake Technologies Corporation (NYSE:WAB) has experienced an increase in activity from the world's largest hedge funds in recent months. Westinghouse Air Brake Technologies Corporation (NYSE:WAB) was in 46 hedge funds' portfolios at the end of June. The all time high for this statistic was previously 45. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that WAB isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Hedge funds have more than $3.5 trillion in assets under management, so you can't expect their entire portfolios to beat the market by large margins. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 79 percentage points since March 2017 (see the details here). So you can still find a lot of gems by following hedge funds' moves today.

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