Stocks That Renowned Investors Think Highly Of: American International Group (AIG), Cooper-Standard Holdings (CPS) & Others

EnPro Industries, Inc. (NYSE:NPO) is also one of Silver Point Capital’s major investments. According to regulatory filings, the fund held 1.61 million shares of it at the end of September, unchanged from the previous quarter. The stock rose by roughly 28% from July to September, thus pushing the value of the fund’s stake to $91.5 million.

We’re going to take a glance at the recent hedge fund action surrounding EnPro Industries, Inc. (NYSE:NPO) now. Heading into the third quarter of 2016, a total of 15 of the hedge funds tracked by Insider Monkey were long this stock, a drop of 17% from the previous quarter. At the end of June, Silver Point Capital had the largest position in EnPro Industries, followed closely by Greywolf Capital Management, led by Jonathan Savitz, with a $60.1 million position. Some other professional money managers that are bullish comprise Steve Ketchum’s Sound Point Capital, Bart Baum’s Ionic Capital Management, and Peter S. Park’s Park West Asset Management.

Last but not least is Nortek Inc (NASDAQ:NTK), a manufacturer of household electronics. Over the course of the third quarter, Silver Point’s management decided to liquidate its entire stake in this company. According to regulatory filings, the fund previously held 885,000 shares of Nortek, one of the largest positions among the funds in our database. Looking at the stock’s performance, it seems Silver Point might have rushed its decision to dump the stock, which returned approximately 45% during the third quarter, though we don’t know when during the quarter it sold off the stake, so it may have enjoyed most of those gains.

Hedge fund interest in Nortek Inc (NASDAQ:NTK) was flat during the second quarter, which we see as a negative indicator. At the end of June, 10 of the funds followed by Insider Monkey were invested in this stock, having together amassed roughly 36% of its common stock. More specifically, Gates Capital Management was the largest shareholder of Nortek, with a stake worth $193.4 million reported as of the end of June. Trailing Gates Capital Management was Anchorage Advisors, which amassed a stake valued at $90.4 million. Millennium Management and Balyasny Asset Management also held valuable positions in the company.

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