Owl Creek Asset Management focuses on banking, utilities, and telecommunications, with 17 clients and a portfolio of $2.178 billion. The hedge fund, founded by Jeffrey Alan Altman in 2001, has had a significant impact on the industry since its inception. The fund made new purchases in 167 stocks, added to its holdings in 20 stocks, sold 102 stocks, and reduced in 19 stocks. Its top ten holdings accounted for 57.1 percent of the firm’s portfolio, with utilities and telecommunications accounting for a large portion of the portfolio value.
Insider Monkey highlights the 10 stocks Owl Creek Asset Management is buying. Cigna is a multibillion-dollar healthcare and insurance conglomerate. As of the end of June, Owl Creek owned a $84 million interest in the company. Cigna Corporation, based in Connecticut, is one of the world’s leading health insurers. Exelon Corporation is number nine on Owl Creek Asset Management’s list of top ten stocks to purchase. Exelon earned $1.09 per share in the third quarter, exceeding analysts’ expectations by $0.01. The company’s revenue increased by 0.7 percent to $8.91 billion in the third quarter. As of the end of June, Owl Creek owned a $86 million investment in General Motors. Wedbush Securities applauded the company’s efforts in the area of electric vehicles. By 2026, Ives believes GM will have converted 20% of its vast customer base to electric vehicles. The company’s electric vehicle tale will be heard on Wall Street. The company’s adjusted earnings per share came in at $1.94, exceeding expectations by $0.55. During that time, revenue increased by 95 percent. Facebook is one of the most popular companies among Insider Monkey’s elite hedge funds. According to the most recent regulatory filings from New York’s Nasdaq-100 Stock Exchange, 266 funds held holdings in the company at the end of June. For more details, click 10 Stocks Jeffrey Altman’s Owl Creek Asset Management Is Buying.
