CSX Corporation (CSX) Delivers On The Trust Shown By Hedgies With Record Income

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What does the smart money think about CSX Corporation (NYSE:CSX)?

At the end of the first quarter, a total of 42 of the hedge funds tracked by Insider Monkey were long in this stock, an increase of six from the previous quarter. With the smart money’s capital changing hands, there exists a few noteworthy hedge fund managers who were upping their stakes meaningfully.

According to hedge fund experts at Insider Monkey, D E Shaw, managed by David Shaw, holds the biggest position in CSX Corporation (NYSE:CSX). D E Shaw has a $106.7 million position in the stock, comprising 0.2% of its 13F portfolio. Sitting in the number two spot is AQR Capital Management, led by Cliff Asness, holding an $86.5 million position; the fund has 0.2% of its 13F portfolio invested in the stock. Remaining hedge funds that hold long positions consist of Ken Griffin‘s Citadel Investment Group, Steve Cohen’s Point72 Asset Management, and Ross Margolies’ Stelliam Investment Management.

As industrywide interest jumped, key money managers have been driving this bullishness. Balyasny Asset Management, managed by Dmitry Balyasny, assembled the largest position in CSX Corporation (NYSE:CSX). Balyasny Asset Management had $39.8 million invested in the company at the end of the first trimester. Jim Simons’ Renaissance Technologies also made a $28.6 million investment in the stock during the first trimester. The other funds with new positions in the stock during the first three months include Will Snellings’ Marianas Fund Management, Steve Cohen’s Point72 Asset Management, and Anand Parekh’s Alyeska Investment Group.

Given the improving operating results of the company and the very bullish smart money, we believe CSX Corporation is a good investment, bearing in mind that the industry is still battling challenging headwinds.

Disclosure: None

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