Hedge Fund Bridger Management Discloses New Position ~ market folly

Tuesday, January 26, 2010

Hedge Fund Bridger Management Discloses New Position

In a 13G filed with the SEC, Roberto Mignone's hedge fund Bridger Management has disclosed a new position in Casella Waste Systems (CWST). The filing was made due to activity on January 13th, 2010 and they now have a 5.2% ownership stake in the company with 1,282,893 shares. This is a brand new position for them, as they did not own it when we last covered Bridger's portfolio. Interestingly enough, this is not Bridger's first waste related investment. When we looked at their long positions, we noticed that Waste Connections (WCN) was one of their larger US equity holdings. We'll have to see if they are starting to play a theme here when the new comprehensive portfolio disclosures (13F filings) are released here in a few weeks.

Before Bridger, Mignone co-founded hedge fund Blue Ridge Capital with John Griffin in 1996. And before that, Mignone (like Griffin) worked at Julian Robertson's Tiger Management. As such, he joins the ranks of other prominent 'Tiger Cub' hedge funds. Mignone received his degree from Harvard and his MBA from Harvard Business School. Our other previous coverage of Bridger is limited to posting about their position in Cardiome Pharma (CRME). We've just started to track them and as such will continue posting updates going forward.

Taken from Google Finance, Casella Waste Systems is "is a vertically integrated company. The Company provides resource management services to residential, commercial, municipal and industrial customers, primarily in the areas of solid waste collection, transfer, disposal and recycling services. It operates in 14 states."

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