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Our calculations showed that top 20 most popular stocks among hedge funds returned 37.4% in 2019 through the end of November and outperformed the S&P 500 ETF (SPY) by 9.9 percentage points. This is a slightly negative signal and we'd rather spend our time researching stocks that hedge funds are piling on. (NASDAQ:SRDX) is not the least popular stock in this group but hedge fund interest is still below average. On the other hand AquaVenture Holdings Limited (NYSE: WAAS) is the least popular one with only 12 bullish hedge fund positions. (NYSE: WTI) is the most popular stock in this table. That figure was $139 million in SRDX's case. View table here if you experience formatting issues.Īs you can see these stocks had an average of 15.75 hedge funds with bullish positions and the average amount invested in these stocks was $87 million. This group of stocks' market valuations resemble SRDX's market valuation. (NYSE: HOME), Ruth's Hospitality Group, Inc. These stocks are AquaVenture Holdings Limited (NYSE: WAAS), At Home Group Inc. Let's now take a look at hedge fund activity in other stocks - not necessarily in the same industry as SurModics, Inc. These transactions are intriguing to say the least, as total hedge fund interest dropped by 1 funds last quarter. Ken Griffin's fund, Citadel Investment Group, also cut its call options, about $0.2 million worth. Smith's Laurion Capital Management said goodbye to the biggest investment of all the hedgies watched by Insider Monkey, worth about $0.4 million in call options. (NASDAQ:SRDX) has faced a decline in interest from hedge fund managers, it's safe to say that there lies a certain "tier" of money managers that elected to cut their positions entirely last quarter. Royce & Associates is also relatively very bullish on the stock, setting aside 0.16 percent of its 13F equity portfolio to SRDX. (NASDAQ:SRDX), around 9.26% of its 13F portfolio. In terms of the portfolio weights assigned to each position Trigran Investments allocated the biggest weight to SurModics, Inc. Royce & Associates, AQR Capital Management, and Marshall Wace were also very fond of the stock, becoming one of the largest hedge fund holders of the company. Trailing Trigran Investments was Renaissance Technologies, which amassed a stake valued at $44.3 million.

(NASDAQ:SRDX), with a stake worth $49 million reported as of the end of September. More specifically, Trigran Investments was the largest shareholder of SurModics, Inc. Our calculations also showed that SRDX isn't among the 30 most popular stocks among hedge funds (click for Q3 rankings and see the video below for Q2 rankings). There were 14 hedge funds in our database with SRDX positions at the end of the previous quarter. SRDX has experienced a decrease in support from the world's most elite money managers recently. (NASDAQ: SRDX) was in 13 hedge funds' portfolios at the end of the third quarter of 2019. That's why we weren't surprised when hedge funds’ top 20 large-cap stock picks generated a return of 37.6% in 2019 (through the end of November) and outperformed the broader market benchmark by 9.9 percentage points.This is why following the smart money sentiment is a useful tool at identifying the next stock to invest in. Our research shows that most of the stocks that smart money likes historically generate strong risk-adjusted returns. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Amid an overall bull market, many stocks that smart money investors were collectively bullish on surged through the end of November.