market folly

John Griffin's hedge fund firm Blue Ridge Capital filed a 13G with the SEC after market close yesterday disclosing a brand new position in Colfax (CFX).

Per the filing, Blue Ridge now owns 5.73% of the company with 5,370,000 shares due to portfolio activity on July 6th.  They did not own a position at the end of the first quarter, so they've built this position somewhere between April and July.

In other activity from this fund, we've detailed how Blue Ridge was buying Martin Marietta Materials as well.

Per Google Finance, Colfax is "a global industrial manufacturing and engineering company. The Company provides gas- and fluid-handling and fabrication technology products and services to commercial and governmental customers worldwide under the Howden and ESAB brand names and by Colfax Fluid Handling. Colfax’s products are marketed principally under the brand names Allweiler, Baric, Fairmount Automation, Houttuin, Imo, LSC, COT-Puritech, Portland Valve, Tushaco, Warren and Zenith."

For more from John Griffin's firm, check out Blue Ridge's recommended reading list.