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Two insurers top list of Q4'17 hedge fund investments in FIG sector

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Two insurers top list of Q4'17 hedge fund investments in FIG sector

In this article, S&P Global Market Intelligence analyzed the world's largest hedge funds by equity assets that had at least one position in a financial stock.

The world's 25 largest hedge fund managers reported 11 billion-dollar positions in financial stocks at the end of 2017, led by Icahn Capital LP's $2.56 billion stake in American International Group Inc. Apollo Global Management LLC's $2.20 billion investment in Athene Holding Ltd. came in second, although the hedge fund continues to decrease its position, this time by 35.2% in the fourth quarter of 2017.

Bank of America Corp. was the third-largest investment at $1.79 billion and also the most widely held, with six of the 25 hedge fund managers reporting a position in the bank at year-end.

Wells Fargo & Co. ranked at No. 16, as Viking Global Investors LP increased its position in the company to 5,338,016 shares as of Dec. 31, 2017, up 3,440,121 shares from the third quarter of 2017. Select Equity Group L.P. also held 6,632,404 shares in the company at the year-end, cutting its position by 40,912 shares during the fourth quarter.

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Click here to view the Q4'17 hedge fund tracker by S&P Global Market Intelligence.