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FreightCar America
RAIL

82 hedge funds and large institutions have $178M invested in FreightCar America in 2018 Q2 according to their latest regulatory filings, with 7 funds opening new positions, 25 increasing their positions, 32 reducing their positions, and 11 closing their positions.

New
Increased
Maintained
Reduced
Closed

20% more capital invested

Capital invested by funds: $148M → $178M (+$29.4M)

3.91% less ownership

Funds ownership: 89.04% → 85.13% (-3.9%)

6% less funds holding

Funds holding: 87 → 82 (-5)

22% less repeat investments, than reductions

Existing positions increased: 25 | Existing positions reduced: 32

36% less first-time investments, than exits

New positions opened: 7 | Existing positions closed: 11

75% less call options, than puts

Call options by funds: $438K | Put options by funds: $1.77M

Holders
82
Holders Change
-5
Holders Change %
-5.75%
% of All Funds
1.88%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
7
Increased
25
Reduced
32
Closed
11
Calls
$438K
Puts
$1.77M
Net Calls
-$1.33M
Net Calls Change
+$521K

Top Buyers

Rank Fund Capital Flow
1
RA
Royce & Associates
New York
+$2.93M
2
Russell Investments Group
Russell Investments Group
United Kingdom
+$1.01M
3
Franklin Resources
Franklin Resources
California
+$580K
4
Wells Fargo
Wells Fargo
California
+$462K
5
PRCP
Pacific Ridge Capital Partners
Oregon
+$452K

Top Sellers

Rank Fund Capital Flow
1
SFM
Systematic Financial Management
New Jersey
-$1.05M
2
PI
Putnam Investments
Massachusetts
-$969K
3
Millennium Management
Millennium Management
New York
-$800K
4
Morgan Stanley
Morgan Stanley
New York
-$642K
5
UIC
Uniplan Investment Counsel
Wisconsin
-$599K
Name Holding Trade Value Shares
Change 		Change in
Stake
Morgan Stanley
26
Morgan Stanley
New York
$1.04M -$642K -41,724 -40%
D.E. Shaw & Co
27
D.E. Shaw & Co
New York
$1.01M +$110K +7,133 +13%
PAM
28
Panagora Asset Management
Massachusetts
$1M +$199K +12,920 +28%
Invesco
29
Invesco
Georgia
$916K -$222K -14,413 -21%
BGIM
30
Brandywine Global Investment Management
Pennsylvania
$835K – – –
PH
31
Pinnacle Holdings
Oklahoma
$788K +$70.2K +4,565 +11%
SO
32
STRS Ohio
Ohio
$730K -$38.5K -2,500 -5%
SAM
33
Shell Asset Management
Netherlands
$683K -$33.4K -2,173 -5%
TCIM
34
TIAA CREF Investment Management
New York
$680K +$143K +9,294 +30%
IECM
35
Intrinsic Edge Capital Management
Illinois
$542K -$272K -17,703 -35%
AQR Capital Management
36
AQR Capital Management
Connecticut
$512K -$438K -28,498 -48%
Two Sigma Investments
37
Two Sigma Investments
New York
$493K -$213K -13,819 -32%
SRAM
38
Stone Ridge Asset Management
New York
$475K – – –
TA
39
Teachers Advisors
New York
$453K +$3K +195 +0.7%
MCC
40
Malaga Cove Capital
California
$401K – – –
GIP
41
Granite Investment Partners
California
$396K – – –
Ameriprise
42
Ameriprise
Minnesota
$389K -$4.06K -264 -1%
MDCM
43
Morgan Dempsey Capital Management
Wisconsin
$386K -$31.7K -2,061 -8%
Charles Schwab
44
Charles Schwab
California
$363K – – –
PP
45
PDT Partners
New York
$346K -$100K -6,500 -24%
Los Angeles Capital Management
46
Los Angeles Capital Management
California
$314K +$288K +18,720 New
California State Teachers Retirement System (CalSTRS)
47
California State Teachers Retirement System (CalSTRS)
California
$307K -$7.38K -480 -3%
T. Rowe Price Associates
48
T. Rowe Price Associates
Maryland
$290K – – –
State Board of Administration of Florida Retirement System
49
State Board of Administration of Florida Retirement System
Florida
$245K +$2K +130 +0.9%
IRC
50
Investors Research Corp
Georgia
$226K – – –
1
2
3 4

RAIL Hedge Fund Activity: Q2 2018 in Review

82 of the 4,369 institutional investors tracked by Wall St. Rank reported a position in FreightCar America (RAIL) for Q2 2018, worth a combined $178M — up 20% from $148M a quarter earlier.

Sellers outnumbered buyers: 11 funds closed out of RAIL and 7 opened new positions — a net loss of 4 holders — while 32 trimmed existing stakes and 25 added.

The largest buyer was Royce & Associates, adding an estimated $2.93M. The largest seller was Systematic Financial Management, exiting entirely with an estimated $1.05M sold.

  • 82 institutional investors held FreightCar America (RAIL) as of Q2 2018, down from 87 in Q1 2018.
  • Funds reported $178M of FreightCar America stock for Q2 2018, up 20% quarter-over-quarter.
  • 7 funds opened new FreightCar America positions in Q2 2018 and 11 closed out, a net change of -4 holders.
  • The largest FreightCar America buyer in Q2 2018 was Royce & Associates, an estimated $2.93M added.
  • The largest FreightCar America seller in Q2 2018 was Systematic Financial Management, an estimated $1.05M sold.

Based on aggregated 13F filings for Q2 2018.