Best Ideas of Hedge Funds

Maslennikov, S. N.; Hund, Parker

doi:10.2139/ssrn.2536968

Cited by 4 publications

(3 citation statements)

References 17 publications

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“…To exclude investors who use passive strategies to invest in stocks, we limit the list to institutions that can be identified as dedicated or transient investors using the classification in Bushee and Noe (2000). The primary information sources for further identification are ADV forms filed with the SEC (e.g., Maslennikov & Hund, 2015). We read ADV forms to see if the filing institution type is identified as a hedge fund and to make sure it is not also identified as some other type of institution.…”

Section: Sample and Datamentioning

confidence: 99%

Institutional investors and mispricing of unionized firms

Lantushenko,

Marciukaityte,

Szewczyk

2023

J of Financial Research

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We examine investment by different types of institutional investors in firms with strong labor unions. We find that hedge funds own a lower percentage of shares in these firms than in other firms. In contrast, passive institutional investors and institutional investors as a group own a higher percentage. Our tests suggest that the relation between unionization and hedge fund ownership is causal: When union power changes in a firm, hedge fund ownership changes in the opposite direction. Instead, passive investor holdings in unionized firms seem to be driven by other firm characteristics.

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Section: Sample and Datamentioning

confidence: 99%

Institutional investors and mispricing of unionized firms

Lantushenko,

Marciukaityte,

Szewczyk

2023

J of Financial Research

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“…There are 6,569 unique institutional investors who file a 13F schedule during this time period. Using the updated identifier from Maslennikov and Hund (2015), we obtain 1,162 unique hedge funds. Based on the reported 13F holdings across 31,089 fund-quarter observations, an average hedge fund holds about 93 stocks in its portfolio.…”

Section: Data and Sample Constructionmentioning

confidence: 99%

“…To examine the evolution of hedge fund trading in target firms, we identify those within the pool of all 13F institutions reported in Thomson Financial. We use the hedge fund identifier from Maslennikov and Hund (2015). 4 We obtain mutual fund monthly returns, expenses, total net assets, turnover ratio, and other fund characteristics from the Center for Research in Security Prices (CRSP) Survivor-Bias-Free Mutual Fund database.…”

Section: Data and Sample Constructionmentioning

confidence: 99%

Institutional Trading Around M&A Announcements

Fich

Lantushenko

Sialm

2019

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Institutional trading around M&A announcements

Fich,

Lantushenko,

Sialm

2024

Financial Management

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We contrast the investment strategies of hedge funds and mutual funds around mergers and acquisitions (M&A). We find that hedge funds, on average, increase their holdings of soon‐to‐be takeover targets by 7.5% during the quarter before M&A announcements. Conversely, mutual funds, on average, reduce their equity holdings in impending targets by 3.0% over the same time period. The reduction in M&A holdings by mutual funds is less pronounced for more actively managed funds. Our results suggest that hedge funds enjoy superior access to private information or possess superior ability to process public information related to M&A transactions.

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Best Ideas of Hedge Funds

Cited by 4 publications

References 17 publications

Institutional investors and mispricing of unionized firms

Institutional investors and mispricing of unionized firms

Institutional Trading Around M&A Announcements

Institutional trading around M&A announcements

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