Scout Capital Discloses Sensata Technologies (ST) Stake ~ market folly

Tuesday, May 24, 2011

Scout Capital Discloses Sensata Technologies (ST) Stake

James Crichton and Adam Weiss' hedge fund Scout Capital just filed a 13G with the SEC on shares of Sensata Technologies (ST). Based on portfolio activity on May 13th, 2011, Scout has disclosed a 5.02% ownership stake in ST with 8,750,000 shares.

At the end of the first quarter (March 31st), Crichton and Weiss' hedge fund owned 8,200,000 shares so this marks only a 6.7% increase in their position size.

However, Scout just revealed their position in Sensata equity as a new holding in the first quarter. As such, all of their buying in the name has been within the past five months. They also recently started an Arcos Dorados stake (ARCO).

Scout isn't the only hedge fund that has recently disclosed a position in Sensata equity. As noted in the brand new issue of our newsletter, John Griffin's Blue Ridge Capital started a new stake in the quarter and Alan Fournier's Pennant Capital was adding to its position as well.

Per Google Finance, Sensata Technologies is "The Company is engaged in the development, manufacture and sale of sensors and controls. It produces a range of sensors and controls for mission-critical applications, such as thermal circuit breakers in aircraft, pressure sensors in automotive systems, and bimetal current and temperature control devices in electric motors."

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