Baker Bros. Advisors and Altimeter Capital Management held the top two positions in Symmetric's list of top stock pickers through the quarter ended Sept. 30.
The research firm analyzes hedge fund 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 Baker Bros. Advisors and Altimeter Capital Management was 24.7% and 18.6%, respectively.
Whale Rock Capital Management and Matrix Capital Management maintained a top-five ranking from the prior quarter.
Many managers that were on Symmetric's list at the end of the second quarter (and absent in the third quarter) were hurt by large positions in Valeant Pharmaceuticals, notably Pershing Square Capital Management, Brave Warrior Advisors and Hound Partners.
The top five new positions among Symmetric's top 20 funds include CommScope Holding, Boeing, Teva Pharmaceutical Industries, Pentair and Alyst Acquisition Corp.
The full list can be found here.
