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Hedge fund Scout Capital is betting on Tim Hortons

MarketWatch – Scout Capital Management, a hedge fund managed by James Crichton and Adam Weiss, has reported a position of 8.4 million shares in Tim Hortons¬†in a 13D filed with the SEC. The fund had initiated a position of 2.3 million shares in the first quarter of the year, according to our database of 13F filings (we track these filings as part of our work researching investment strategies; we have found, for example, that the most popular small cap stocks among hedge funds earn an average¬†excess return of 18 percentage points per year). So most of Scout’s shares have been purchased in the last two and a half months.

Tim Hortons is a (primarily Canadian) quick service restaurant with a market capitalization of $8.3 billion; Scout’s stake gives it 5.5% ownership of the company.

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