New York (HedgeCo.net) – In addition to the individual stock positions being revealed in the 13F filings that are being released, we also found out that several top investment managers lowered their allocations to equities during the third quarter.

A recent Bloomberg report showed that Stanley Druckenmiller’s family office lowered their U.S. stock holdings dropped 41 percent during the third quarter. Druckenmiller stated at an investor conference earlier this month that he could turn bearish on stocks. The article from Bloomberg had this quote from Druckenmiller– “I could see myself getting bearish, and I can’t see myself getting bullish.”

Yet another investor that lowered their equity allocation was Appaloosa Management. The hedge fund managed by David Tepper lowered its equity holdings by 30 percent during the third quarter. Bloomberg offered this quote from Tepper from September– “I’m not as bullish as I could be because I have problems with earnings growth, problems with multiples. I can’t really call myself a bull.”

In addition to Druckenmiller and Tepper lowering their stock holdings, we also saw lowered allocations from Greenlight Capital, Moore Capital Management, Passport Capital and PointState Capital.

Rick Pendergraft
Research Analyst
HedgeCoVest