Now, key money managers were leading the bulls’ herd. Highline Capital Management, led by Jacob Doft, assembled the most outsized position in Mohawk Industries, Inc. (NYSE:MHK). Highline Capital Management had $5.7 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also initiated a $4.5 million position during the quarter. The following funds were also among the new MHK investors: Joel Greenblatt’s Gotham Asset Management, Paul Tudor Jones’ Tudor Investment Corp, and Ben Levine, Andrew Manuel and Stefan Renold’s LMR Partners.
Let’s go over hedge fund activity in other stocks similar to Mohawk Industries, Inc. (NYSE:MHK). These stocks are TransDigm Group Incorporated (NYSE:TDG), Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX), Check Point Software Technologies Ltd. (NASDAQ:CHKP), and W.W. Grainger, Inc. (NYSE:GWW). This group of stocks’ market values resemble MHK’s market value.
|Ticker||No of HFs with positions||Total Value of HF Positions (x1000)||Change in HF Position|
As you can see these stocks had an average of 33 funds long the stock and the average amount invested in these companies was $1.56 billion. That figure was $2.49 billion in MHK’s case. TransDigm Group Incorporated (NYSE:TDG) is the most popular stock in this table with 44 funds holding shares. On the other hand W.W. Grainger, Inc. (NYSE:GWW) is the least popular one with only 17 bullish hedge fund positions. Compared to these stocks Mohawk Industries, Inc. (NYSE:MHK) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.