Top Superinvestors Are Buying Cal-Maine Foods Inc. (CALM)

According to the most recent 13F filings, institutional investors continued to make targeted moves in Cal-Maine Foods Inc. (CALM), reflecting steady interest in the largest U.S. egg producer amid fluctuating commodity prices, resilient consumer staples demand, and ongoing margin normalization following recent volatility in egg markets. While several established holders expanded positions, at least one prominent manager initiated a new stake, suggesting selective institutional confidence at current valuation levels. Below are the most notable changes from the last quarter:

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Bridgewater Associates, LP (Ray Dalio)

Shares: 199,418  Change: +61,578  Value: $0.02B
Ray Dalio significantly increased Bridgewater’s exposure, marking the largest addition among reported managers. The move likely reflects interest in CALM’s defensive food-staples positioning, strong balance sheet, and earnings leverage to agricultural pricing cycles.

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Gotham Asset Management, LLC (Joel Greenblatt)

Shares: 54,564  Change: +16,959  Value: $0.01B
Joel Greenblatt materially boosted Gotham’s stake, suggesting favorable valuation signals in his quantitative value framework and confidence in CALM’s normalized earnings power.

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Fisher Asset Management, LLC (Ken Fisher)

Shares: 220,781  Change: +11,127  Value: $0.02B
Ken Fisher added incrementally to an already sizable position, consistent with a strategy focused on durable demand trends and companies benefiting from essential consumer consumption.

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AQR Capital Management, LLC (Cliff Asness)

Shares: 70,631  Change: +9,104  Value: $0.01B
Cliff Asness increased AQR’s exposure modestly, aligning with factor-driven interest in profitability, value characteristics, and defensive earnings streams.

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Grantham, Mayo, Van Otterloo & Co. LLC (Jeremy Grantham)

Shares: 9,247  Change: +2,366  Value: $0.00B
Jeremy Grantham added slightly to GMO’s position, consistent with the firm’s focus on fundamentally resilient businesses tied to essential consumption trends.

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Pzena Investment Management LLC (Rich Pzena)

Shares: 2,860  Change: +37  Value: $0.00B
Rich Pzena made a small incremental addition, typical of a disciplined deep-value approach emphasizing cyclical normalization and downside protection.

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Miller Value Partners, LLC (Bill Miller)

Shares: 62,000  Change: New Position  Value: $0.01B
Bill Miller initiated a new stake, potentially reflecting a contrarian value opportunity as egg pricing stabilizes and earnings visibility improves.

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Overall Takeaway

Taken together, these moves indicate a mix of incremental conviction and fresh institutional interest in Cal-Maine Foods. The additions suggest investors are increasingly viewing CALM as a defensive agricultural play with cyclical upside potential, supported by strong cash generation, essential product demand, and disciplined capital management.