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Chefs' Warehouse
CHEF

170 hedge funds and large institutions have $802M invested in Chefs' Warehouse in 2018 Q4 according to their latest regulatory filings, with 47 funds opening new positions, 52 increasing their positions, 56 reducing their positions, and 20 closing their positions.

New
Increased
Maintained
Reduced
Closed

192% more call options, than puts

Call options by funds: $765K | Put options by funds: $262K

135% more first-time investments, than exits

New positions opened: 47 | Existing positions closed: 20

19% more funds holding

Funds holding: 143 → 170 (+27)

4.88% more ownership

Funds ownership: 78.77% → 83.65% (+4.9%)

7% less repeat investments, than reductions

Existing positions increased: 52 | Existing positions reduced: 56

6% less capital invested

Capital invested by funds: $858M → $802M (-$55.7M)

Holders
170
Holders Change
+27
Holders Change %
+18.88%
% of All Funds
3.79%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
47
Increased
52
Reduced
56
Closed
20
Calls
$765K
Puts
$262K
Net Calls
+$503K
Net Calls Change
-$218K

Top Buyers

Rank Fund Capital Flow
1
BlackRock
BlackRock
New York
+$43.4M
2
Vanguard Group
Vanguard Group
Pennsylvania
+$15.1M
3
Renaissance Technologies
Renaissance Technologies
New York
+$14M
4
Invesco
Invesco
Georgia
+$11.5M
5
Loomis, Sayles & Company
Loomis, Sayles & Company
Massachusetts
+$9.98M

Top Sellers

Rank Fund Capital Flow
1
CCA
Conestoga Capital Advisors
Pennsylvania
-$14.2M
2
Kayne Anderson Rudnick Investment Management
Kayne Anderson Rudnick Investment Management
California
-$13.9M
3
EBIM
Eagle Boston Investment Management
Massachusetts
-$10.5M
4
Morgan Stanley
Morgan Stanley
New York
-$10.1M
5
AllianceBernstein
AllianceBernstein
Tennessee
-$6.5M
Name Holding Trade Value Shares
Change 		Change in
Stake
AI
76
Atria Investments
North Carolina
$815K +$240K +6,914 +37%
BCM
77
Bridgeway Capital Management
Texas
$662K -$2.68M -77,100 -79%
Public Sector Pension Investment Board (PSP Investments)
78
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$646K +$702K +20,200 New
O
79
OppenheimerFunds
New York
$640K +$695K +20,013 New
GAM
80
Gotham Asset Management
New York
$638K +$693K +19,950 New
AQR Capital Management
81
AQR Capital Management
Connecticut
$587K +$181K +5,212 +40%
AIG
82
American International Group
New York
$545K +$90.5K +2,607 +18%
ARTA
83
A.R.T. Advisors
New York
$543K +$111K +3,200 +23%
Thrivent Financial for Lutherans
84
Thrivent Financial for Lutherans
Minnesota
$522K +$567K +16,336 New
State of Tennessee, Department of Treasury
85
State of Tennessee, Department of Treasury
Tennessee
$517K +$561K +16,153 New
California Public Employees Retirement System
86
California Public Employees Retirement System
California
$509K – – –
HSBC Holdings
87
HSBC Holdings
United Kingdom
$504K -$1.2M -34,441 -69%
New York State Teachers Retirement System (NYSTRS)
88
New York State Teachers Retirement System (NYSTRS)
New York
$492K +$534K +15,371 New
TPSF
89
Texas Permanent School Fund
Texas
$483K +$524K +15,101 New
SSWM
90
Sheets Smith Wealth Management
North Carolina
$462K -$11.4K -328 -2%
UFF
91
USA Financial Formulas
Michigan
$459K +$438K +12,625 New
Fifth Third Bancorp
92
Fifth Third Bancorp
Ohio
$449K -$106K -3,046 -18%
LCM
93
Landscape Capital Management
New Jersey
$443K +$481K +13,843 New
Citigroup
94
Citigroup
New York
$434K +$252K +7,253 +115%
Victory Capital Management
95
Victory Capital Management
Texas
$432K +$18.3K +526 +4%
Manulife (Manufacturers Life Insurance)
96
Manulife (Manufacturers Life Insurance)
Ontario, Canada
$425K -$40K -1,151 -8%
TI
97
Trexquant Investment
Connecticut
$418K +$454K +13,084 New
RJA
98
Raymond James & Associates
Florida
$412K -$59.1K -1,703 -12%
WG
99
Winton Group
United Kingdom
$392K +$42.6K +1,226 +11%
Allianz Asset Management
100
Allianz Asset Management
Germany
$370K +$20.7K +597 +5%
2 3
4
5 6

CHEF Hedge Fund Activity: Q4 2018 in Review

170 of the 4,488 institutional investors tracked by Wall St. Rank reported a position in Chefs' Warehouse (CHEF) for Q4 2018, worth a combined $802M — down 6.5% from $858M a quarter earlier.

Buyers outnumbered sellers: 47 funds opened new CHEF positions and 20 closed out — a net gain of 27 holders — while 52 added to existing stakes and 56 trimmed.

The largest buyer was BlackRock, adding an estimated $43.4M. The largest seller was Conestoga Capital Advisors, cutting an estimated $14.2M.

  • 170 institutional investors held Chefs' Warehouse (CHEF) as of Q4 2018, up from 143 in Q3 2018.
  • Funds reported $802M of Chefs' Warehouse stock for Q4 2018, down 6.5% quarter-over-quarter.
  • 47 funds opened new Chefs' Warehouse positions in Q4 2018 and 20 closed out, a net change of +27 holders.
  • The largest Chefs' Warehouse buyer in Q4 2018 was BlackRock, an estimated $43.4M added.
  • The largest Chefs' Warehouse seller in Q4 2018 was Conestoga Capital Advisors, an estimated $14.2M sold.

Based on aggregated 13F filings for Q4 2018.