Hedge Funds Make Big on $CAT Caterpillar Revenue Surge

Published on October 24, 2011 at 10:11 am by Renee Ann Butler in Hedge Funds

Caterpillar Inc (CAT) share prices soared over 5% in early trading Monday morning after its “third-quarter earnings rose 44% as the construction-equipment maker reported its best quarter for sales ever in the first full quarter to reflect the largest takeover in its history,” reports the Wall Street Journal. Its share price jumped from $87.39 at close Friday to $92.33 at 10am EST.

The following hedge funds made the most:

1. Fisher Asset Management – Ken Fisher: Gained $22.3 million

2. Adage Capital Management – Phill Gross and Robert Atchinson: Gained $6.3 million

3. Aletheia Research And Management – Peter J. Eichler Jr.: Gained $5.9 million

4. Citadel Investment Group – Ken Griffin: Gained $5.0 million

5. Sac Capital Advisors – Steven Cohen: Gained $3.3 million

6. Partner Fund Management – Christopher Medlock James: Gained $2.4 million

7. Navellier & Associates – Louis Navellier: Gained $2.0 million

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in CAT since the end of June. We did not take into account their option positions.

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