William Martin’s Raging Capital has been buying shares of Builders Firstsource Inc. (NASDAQ:BLDR) this year. The activist hedge fund had 2.6 million shares of Builders Firstsource in its 13F at the end of 2015. According to a recent filing, Martin purchased an additional 3.3 million shares through March 4th. You can access the original SEC filing by clicking here.
At Q4’s end, a total of 30 of the hedge funds tracked by Insider Monkey were bullish on this stock, a change of -23% from the previous quarter. With the smart money’s sentiment swirling, there exists a few notable hedge fund managers who were upping their holdings considerably (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Alexander Medina Seaver’s Stadium Capital Management has the most valuable position in Builders FirstSource, Inc. (NASDAQ:BLDR), worth close to $53.7 million, accounting for 20.4% of its total 13F portfolio. Coming in second is Richard Barrera of Roystone Capital Partners, with a $41 million position; the fund has 2.3% of its 13F portfolio invested in the stock. Other peers with similar optimism encompass Phill Gross and Robert Atchinson’s Adage Capital Management and Israel Englander’s Millennium Management.
Because Builders FirstSource, Inc. (NASDAQ:BLDR) has experienced bearish sentiment from the aggregate hedge fund industry, it’s easy to see that there lies a certain “tier” of hedge funds who were dropping their full holdings in the third quarter. Interestingly, Lee Munder’s Lee Munder Capital Group dumped the largest stake of all the hedgies followed by Insider Monkey, comprising about $15.8 million in stock. Richard Driehaus’s fund, Driehaus Capital, also cut its stock, about $8.3 million worth. These moves are interesting, as total hedge fund interest dropped by 9 funds in the third quarter.
Builders FirstSource shares lost about 15% so far this year.
Page 1 of 6 SEC Filing
INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT
Builders FirstSource, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
12008R 10 7
March 4, 2016
(Date of Event Which Requires Filing of this Statement)