BOSTON (Reuters) – Wall Street investors were so convinced that Hunter Harrison could turn around railroad CSX Corp that the company lost $4 billion in market value when the former CEO took a medical leave in December and died only a few days later.
But rather than run for the door, a number of prominent hedge fund managers either established new positions or added to what they already owned, certain that someone else would execute on the plans the railroader had put in place only months before.
Steadfast - Capital - Management - Robert - Pitts
Steadfast Capital Management, run by Robert Pitts, and Suvretta Capital Management, run by Aaron Cowen, made new bets on CSX during the last three months of 2017 while Citadel Advisors more than doubled its bet, according to regulatory filings released on Wednesday and data from Symmetric.IO.
Steadfast owned 4.5 million CSX shares on Dec. 31, marking the biggest increase in ownership from the previous quarter, the data show. Suvretta, which ended 2017 with a 24.6 percent gain, owned 2.5 million shares and Citadel, whose multistrategy fund gained roughly 13 percent last year, owned 3.3 million shares after having bought an additional 2.4 million shares during the quarter.
Chilton - Investment - Co - Position - Shares
Chilton Investment Co added a new position to own 1.5 million shares at the end of the quarter and Sirios Capital Management bulked up its holding by 264 percent to own 1.8 million at...
Wake Up To Breaking News!