Amidst the 13F filing season, several hedge funds have also been filing Schedule 13G forms, disclosing changes that took place after June 30, 2014, in their equity positions. In this article, we will take a look at some of the most interesting transactions over the past few days.
On August 19, Peter Kolchinsky’s Ra Capital Management acknowledged having started a position in Vical Incorporated (NASDAQ:VICL), a $112.5 million market cap biotech company. The fund acquired 5.47 million shares of Vical Incorporated (NASDAQ:VICL), which account for 6.2% of the company’s common stock. John W. Rogers’ Ariel Investments is also betting on Vical Incorporated (NASDAQ:VICL), and last disclosed ownership of 5.79 million shares, worth more than $7 million.
Also on that date, Jeffrey Bronchick’s Cove Street Capital chipped into Carrol’s Restaurant Group, Inc. (NASDAQ:TAST), acquiring 1.9 million shares of common stock, which represent 5.4% of the company’s outstanding stock. This stake makes Cove Street the largest hedge fund shareholder of record –amongst those we track- at Carrol’s Restaurant Group, Inc. (NASDAQ:TAST), trailed by Gregg J. Powers’ Private Capital Management and Chuck Royce’s Royce & Associates, which hold 1.36 million shares and 1.27 million shares, respectively.
Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) has felt plenty of hedge fund ‘bullishness’ lately. Over the past week, two funds disclosed increases in their stakes in the company. Jacob Gottlieb’s Visium Asset Management boosted its exposure to Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP), from 1.81 million shares, to 3.09 million shares. A few days earlier, Andreas Halvorsen’s Viking Global had also added to its holdings at Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP). After a 10.5% increase in its position, the fund owns 3.19 million shares of the $10.3 billion market cap specialty pharmaceutical company.
Fourth in this list is Cognizant Technology Solutions Corp (NASDAQ:CTSH), a $28 billion market cap information technology (IT), consulting and business process services provider. Stephen Mandel’s Lone Pine Capital, which already was the largest hedge fund shareholder of record (by a wide margin), added approximately 2.62 million shares to its holdings at Cognizant Technology Solutions Corp (NASDAQ:CTSH), and now owns more than 31.13 million shares of common stock, which account for 5.3% of the company’s shares outstanding.
Roberto Mignone’s Bridger Management also filed a Schedule 13G this week. The fund disclosed a 35.5% increase in its bet on Tornier NV (NASDAQ:TRNX), a $1.05 billion market cap medical device company of which Bridger now owns 2.69 million ordinary shares, which represent 5.5% of their class. Bridger is only outranked by one hedge fund, Samuel Isaly’s Orbimed Advisors last declared holding 4.07 million shares of Tornier NV (NASDAQ:TRNX), worth approximately $95 million.
Finally, there’s Titan International Inc. (NYSE:TWI), a $781 million market cap wheels and tires manufacturer. The company saw Terence Hogan’s Addison Clark Management acquire 399,023 shares, taking its holdings to 2.91 million shares. This stake accounts for 5.4% of Titan International Inc. (NYSE:TWI)’s common stock. Another major fund betting on Titan International Inc. (NYSE:TWI) is Mark Rachesky’s Mhr Fund Management, which last disclosed ownership of 7.51 million shares, after buying more than 500,000 shares in late-July.
Disclosure: Javier Hasse holds no position in any stocks or funds mentioned.
