Search This Blog

19 Feb 2009

Hedge Fund Trembulant Ups Stake in Fast Food

Hedge fund Tremblant Capital reported that it now owns 1.1 million shares of Chipotle Mexican Grill, bringing its total shares in the Denver-based fast food restaurant to 5.7%.

"Chipotle shares have fallen recently, and the hedge fund obviously saw opportunity there," news resource SeekingAlpha says, "keep in mind that this hedge fund typically doesn't take larger than 5% stakes in companies (which requires a 13G filing), so it definitely likes this name, as this is the first major filing from them in quite some time."

With $4.1 billion in assets under management, hedge fund Tremblant is based in New York and run by Bret Barakett, who is a former portfolio manager at Moore Capital Management.

No comments: