Hedge Funds Are Crazy About Abercrombie & Fitch Co. (ANF)

Consequently, key hedge funds were breaking ground themselves. The same Tremblant Capital assembled the two most outsized positions in Abercrombie & Fitch Co. (NYSE:ANF). Neil Chriss’s Hutchin Hill Capital has also joined the party, having initiated a new position that amounted to $6.41 million worth of stock at the end of the quarter. The other funds with new positions in the stock are Israel Englander’s Millennium Management, and Chuck Royce’s Royce & Associates.

Let’s now review hedge fund activity in other stocks similar to Abercrombie & Fitch Co. (NYSE:ANF). These stocks are Tetra Tech, Inc. (NASDAQ:TTEK), Hatteras Financial Corp. (NYSE:HTS), WNS (Holdings) Limited (ADR) (NYSE:WNS), and Alon USA Partners LP (NYSE:ALDW). All of these stocks’ market caps are similar to ANF’s market cap.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $73 million. Tetra Tech, Inc. (NASDAQ:TTEK) is the most popular stock in this table. On the other hand Alon USA Partners LP (NYSE:ALDW) is the least popular one with only 5 bullish hedge fund positions. Abercrombie & Fitch Co. (NYSE:ANF) outshines the lot, having attracted $168 million worth of investments from 22 elite investors. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.