This Hedge Fund Just Sold Sandisk and Bought Taiwan Semiconductor Manufacturing Stock. Does Wall Street Agree With the Move?
Sandisk has taken investors on quite the roller-coaster ride this year.
Overview
Following hedge fund moves is possible by examining a firm's 13-F filings with the Securities and Exchange Commission, disclosing their end-of-quarter holdings. Because investors only get updates once per quarter, the key is to find a fund that's not trading in and out of stocks on a daily basis. One that I follow that has a more long-term investing mindset is the Duquesne Family Office, run by Stanley Druckenmiller. It made several interesting moves in the second quarter, including selling Sandisk (NASDAQ: SNDK) and buying Taiwan Semiconductor Manufacturing (NYSE: TSM). Although we don't know exactly when these moves happened, they are interesting because Sandisk is the top-performing stock in the S&P 500 (SNPINDEX: ^GSPC) this year.
So, was this a smart move by Druckenmiller? Let's take a look.
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Originally published at www.fool.com.