Broadfin Capital and Brave Warrior Advisors once again topped Symmetric’s list of top stock pickers through the quarter ended June 30.
The hedge fund research firm analyzes managers’ long positions based on quarterly SEC filings and ranks them on what it calls StockAlpha – a manager’s ability to select stocks that outperform their corresponding sectors.
Three-year StockAlpha for Broadfin and Brave Warrior was 24.2% and 17.3%, respectively.
Funds new to the list this quarter include Bridger, Ancient Art and Eton Park.
According to Symmetric’s analysis, Valeant Pharmaceuticals has been a key driver of its top-ranked funds, with seven of the 20 holding sizable positions. In the past three years (through June 30), the stock has returned 70.5% annually vs. 27.3% for the S&P 500 Health Care Sector index.
The top five new positions among Symmetric’s top-20 funds include Google (class C shares), Allergan, DIRECTV, CoTherix and 21st Century Fox (class B shares).