XPO Logistics Inc. is so popular among hedge funds that 10 of them have more than 5% of their disclosed equity investments in the stock.
Those funds represent 3.7% of XPO Logistics’ outstanding shares. Hedge funds, as a group, own 15%, according to data in recent public filings compiled by Bloomberg. XPO Logistics’ peers on average have not attracted large investments by hedge funds.
XPO Logistics CEO Bradley Jacobs (right) at the New York Stock Exchange (XPO Logistics)
XPO ranks No. 1 on the Transport Topics Top 50 list of Logistics Companies and No. 3 on the Transport Topics Top 100 list of the largest for-hire carriers in North America.
Orbis Investment MGMT (U.S.) has one of the largest concentrations in XPO Logistics, with 16% of its disclosed equity holdings valued at $22.7 million. Appaloosa Management LP has the biggest position, with a market value of $226 million, representing 2.2% of its total equity investments.
XPO Logistics’ shares advanced 16% year to date.
Bloomberg analyzed more than 800 hedge funds that are required to disclose their U.S. equity investments in 13F filings with the Securities and Exchange Commission each quarter. An algorithm then searched for cases where those hedge funds reported at least 5% of their holdings in a particular company.