As industrywide interest jumped, specific money managers were breaking ground themselves. Passport Capital, managed by John Burbank, created the most outsized position in Brookdale Senior Living, Inc. (NYSE:BKD). Passport Capital had $49.6 million invested in the company at the end of the quarter. Michael Blitzer’s Kingstown Capital Management also made a $34.4 million investment in the stock during the quarter. The following funds were also among the new BKD investors: Richard S. Meisenberg’s ACK Asset Management, Andrew Goldman’s Seven Locks Capital Management, and Thomas Ellis and Todd Hammer’s North Run Capital.
Let’s go over hedge fund activity in other stocks – not necessarily in the same industry as Brookdale Senior Living, Inc. (NYSE:BKD) but similarly valued. These stocks are Ingram Micro Inc. (NYSE:IM), First American Financial Corp (NYSE:FAF), National Fuel Gas Co. (NYSE:NFG), and Western Refining, Inc. (NYSE:WNR). All of these stocks’ market caps match BKD’s market cap.
| Ticker | No of HFs with positions | Total Value of HF Positions (x1000) | Change in HF Position |
|---|---|---|---|
| IM | 31 | 714718 | -5 |
| FAF | 20 | 392949 | 9 |
| NFG | 22 | 455990 | 11 |
| WNR | 30 | 471812 | 5 |
As you can see these stocks had an average of 25.75 hedge funds with bullish positions and the average amount invested in these stocks was $509 million. That figure was $2170 million in BKD’s case. Ingram Micro Inc. (NYSE:IM) is the most popular stock in this table. On the other hand First American Financial Corp (NYSE:FAF) is the least popular one with only 20 bullish hedge fund positions. Compared to these stocks Brookdale Senior Living, Inc. (NYSE:BKD) 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.
