Marathon Petroleum Corp (MPC) Jumps On MPLX LP (MPLX) Acquisition of Markwest Energy Partners LP (MWE)

What have hedge funds been doing with Marathon Petroleum Corp (NYSE:MPC)?

When looking at the hedgies followed by Insider Monkey, D.E. Shaw & Co., L.P., managed by David E. Shaw, holds the biggest position in Marathon Petroleum Corp (NYSE:MPC), which contains 7.72 million shares, comprising 1.2% of its 13F portfolio. On the second spot is Cliff Asness’ AQR Capital Management with 2.58 million shares. Other members of the smart money that are bullish on the company include Israel Englander’s Millennium Management, Alan Fournier’s Pennant Capital Management and John Griffin’s Blue Ridge Capital.

In addition, several investors initiated stakes in the company, including Renaissance Technologies, managed by Jim Simons, which added the most valuable holding in Marathon Petroleum Corp (NYSE:MPC), holding a $58.7 million stake, with 573,117 shares at the end of March. On the opposite end of the spectrum, Benjamin A. Smith’s Laurion Capital Management closed its ‘Call’ stake that contained options underlying 1.1 million shares, and still holds 32,600 shares.

In this way, as hedge funds remain bearish on Marathon Petroleum Corporation, we don’t recommend buying shares of the company at the moment.

Disclosure: None