Maverick Capital purchased 6.77 Million shares of Abercrombie Fitch (ANF) at an average price of $39.32 per share during the third quarter. Insider Monkey, using its proprietary ranking system, determined that this was Maverick’s highest conviction purchase and published an article about it over the weekend. Today ANF jumped $5.58, or 11.06%.
Maverick Capital made more than $113 Million from this transaction. Outsiders who monkeyed Maverick’s highest conviction trade when it became public on November 15th made 23% in a little more than two weeks. Soon, Insider Monkey will provide a comprehensive list of the top 25 stocks that are favored by prominent hedge funds. We believe prominent hedge funds’ newest and highest conviction purchases will be able to beat the index funds and generate a respectable alpha. Details will soon follow….