Phill Gross And Robert Atchinson’s Adage Capital Raised Stake in $CSL

Phill Gross and Robert Atchinson’s Adage Capital reported 5.01% passive stake in Carlisle Companies Inc. (CSL) on December 1st. According to the filing, Adage Capital now has 3.08 million shares in CSL. This is a 48% expansion in Adage Capital’s position after the firm reported 2.08 million shares at the end of September. Adage Capital might buy at below $40 per share to build the position. CSL recognized a strong uptrend after the third quarter. The stock has increased by 50% since the end of September, and has returned 10% year to date. CSL is now priced at $43.74.

Phill Gross

Fifteen hedge funds invested in CSL in the second quarter. Chuck Royce’s Royce & Associates took the most, with 1.25 million shares. This was after the firm boosted its position by 39%. John Murphy’s Alydar Capital decreased its position by 22%, and had 350 thousand shares in the stock. Matthew Lindenbaum’s Basswood Capital reported 275 thousand shares in CSL, after a 9% decrease. Adage Capital reported 90 thousand shares at that time.

Boston based Adage is founded by Phil Gross and Robert Atchinson in 2001. Gross was initially a healthcare and retail analyst at the Harvard Management Company. Later he became a partner at HMC where he spent 18 years. Atchinson was also at the Harvard Management Company from 1991 to 2001. According to Harvard Magazine, Gross’ and Atchinson’s team at the Harvard Management Company outperformed the S&P 500 index by an average of 4.5 percentage points annually. Harvard Management Company hired Adage to manage $1.8 Billion and they held a minority interest in Adage as well.

Per Google Finance, Carlisle Companies Incorporated is “a holding company for Carlisle Corporation, and its wholly owned subsidiaries. Carlisle is a diversified manufacturing company, which manufacture and distribute a range of products. Its product lines serve the construction materials, commercial roofing, energy, agriculture, lawn and garden, mining and construction equipment, aerospace and electronics, dining and food delivery, and healthcare. It operates through five segments: Carlisle Construction Material, Carlisle Transportation Products, Carlisle Brake & Friction, Carlisle Interconnect Technologies and Carlisle FoodService Products. It markets its products as a component supplier to original equipment manufacturers, distributors, as well as directly to end-users. On February 2, 2010, it sold all its refrigerated truck bodies business. In October 2010, it sold Trail King Industries, Inc., its specialty trailer business. On December 2010, it acquired Hawk Corp.”

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!