Insider Monkey finished processing more than 700 13F filings made by hedge funds and prominent investors. These filings show these funds’ portfolio positions as of September 30. What do these smart investors think about Cummins Inc. (NYSE:CMI)?
Cummins Inc. (NYSE:CMI) investors should be aware of an increase in activity from the world’s largest hedge funds in recent months. CMI was in 29 hedge funds’ portfolios at the end of September. There were 28 hedge funds in our database with CMI positions at the end of the previous quarter. At the end of this article we will also compare CMI to other stocks including TELUS Corporation (USA) (NYSE:TU), Hess Corp. (NYSE:HES), and EnergySolutions, Inc. (NYSE:ES) to get a better sense of its popularity.
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What does the smart money think about Cummins Inc. (NYSE:CMI)?
At the end of the third quarter, a total of 29 of the hedge funds tracked by Insider Monkey held long positions in this stock, a rise of 4% from the previous quarter. With hedge funds’ sentiment swirling, there exists a few notable hedge fund managers who were boosting their stakes significantly (or already accumulated large positions).
According to Insider Monkey’s hedge fund database, Cliff Asness’ AQR Capital Management has the most valuable position in Cummins Inc. (NYSE:CMI), worth close to $216.6 million. Sitting at the No. 2 spot is Ken Griffin of Citadel Investment Group, with a $62.6 million position. Some other peers that are bullish consist of Joel Greenblatt’s Gotham Asset Management and Clint Murray’s Lodge Hill Capital.