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Raging Capital Snapped Up Shares of Builders Firstsource, Inc. (BLDR)

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.

William C. Martin
William C. Martin
Raging Capital Management

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

Washington, D.C. 20549
(Rule 13d-102)


(Amendment No.   )1
Builders FirstSource, Inc.
 (Name of Issuer)
Common Stock, $0.01 par value
 (Title of Class of Securities)
12008R 10 7
 (CUSIP Number)
March 4, 2016
 (Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
   x  Rule 13d-1(b)
   o  Rule 13d-1(c)
   o  Rule 13d-1(d)

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
      The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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