Despite GoPro's Recent Fall, These Hedge Funds Might Be Smiling

GoPro Inc (NASDAQ: GPRO) has been falling over the past couple of months, but its overall performance since its June 27 IPO has been good. The stock is up more than 110 percent since then, which has benefited funds and institutional investors that held it since the early days.

Fred Alger Management

Fred Alger Management was among the largest institutional investors in GoPro right after its IPO. By the end of the second quarter, the firm declared holding 233,505 shares of Class A Stock, worth about $9.4 million.

As the stock escalated in price and peaked before the end of the third quarter, Fred Alger Management sold all of its stock for a big profit.

Related Link: Wedbush: 'Tis The Season To Give GoPro

Citadel Advisors

Ken Griffin’s investment management firm disclosed ownership of 148,174 shares of Class A Stock as of June 30, 2014. The stake was then worth about $6 million.

Citadel disposed of 94 percent of its stock over the third quarter, keeping 8,000 shares. It invested about $150 million in options.

Who's Invested Now?

At the end of Q3, there were a reported 153 institutional holders in GoPro stock. The top three hedge funds invested at this time were:

• Tiger Global
• Columbus Circle
• Tiger Consumer Management

All three funds established positions as of the end of the third quarter.

Shares of GoPro recently traded at $66.57, down 3.8 percent on the day.