At Insider Monkey we track tons of filings with the Securities and Exchange Commission from some of the best hedge funds. As empirical studies show, mimicking hedge fund activity can help retail investors to beat Mr. Market by as much as 18 percentage points per year in the long-term. In this piece we will do a short recap of the most interesting changes in hedge funds’ equity portfolios reported over the past several weeks.
One of the companies that went on our radars is Navistar International Corp (NYSE:NAV), in which two “hedgies” reported bullish moves. The first was Mark Rachesky‘s MHR Fund Management, which revealed raising its stake by some 911,000 shares to 13.9 million shares, equal to 17.2% of the outstanding stock. A couple of days later, Carl Icahn disclosed adding more shares to his position, taking it to 17.64% of the common stock. Mr. Icahn purchased around 1.02 million shares, and currently owns around 14.30 million shares.
Even though, it is not a hedge fund, Bill Gates’ investment arm, Cascade Investment is also worth tracking. In the past couple of weeks, Cascade Investment, together with Bill & Melinda Gates Foundation Trust, managed by Michael Larson, disclosed holding significant positions in two companies. In Thai Fund Inc. (NYSE:TTF), Mr. Gates holds around 1.05 million shares, equal to 8.2% of the stock. The second company is Coca-Cola FEMSA, S.A.B. de C.V. (ADR) (NYSE:KOF), with Mr. Gates owning 88.01 million class L shares, which amass 17.7% of the class.
Billionaire Leon Cooperman is the next on our list, reporting acquisition of 632,000 class A shares of PennyMac Financial Services Inc (NYSE:PFSI). Following the purchase, Mr. Cooperman holds around 3.39 million shares of the company. Another filing, disclosed Omega Advisors, raising its position in the UK-based company, Monitise Plc (LON:MONI) to 200.27 million shares, versus 158.43 million held previously.
Nelson Peltz‘ and his fund, Trian Partners, solidified their position in Ingersoll-Rand PLC (NYSE:IR), by around 50% to 17.90 million shares, the new stake being equal to 6.44% of the outstanding stock.
Castlight Health Inc (NYSE:CSLT) is another company, which witnessed a bullish sentiment from two hedge funds. Adage Capital Management, managed by Phill Gross and Robert Atchinson, and Lee Ainslie’s Maverick Capital revealed holding 554,000 and 8.18 million class B shares of the company. And while Adage Capital has initiated a 5% stake in the company, Maverick, boosted its position, which is now equal to 39.9% of the stock, from 450,000 shares revealed earlier.
The billionaire hedge fund manager, Ken Griffin, the manager of Citadel Investment Group, reported boosting its stake in Five Below Inc (NASDAQ:FIVE) to 3.18 million shares, from 778,800 shares held previously, the new stake amassing 5.9% of the outstanding shares.
Another filing showed Balyasny Asset Management, led by Dmitry Balyasny, surging its position in Boardwalk Pipeline Partners, LP (NYSE:BWP) to 5.7% of the stock. Balyasny upped its stake to 13.80 million shares, from 167,500 shares held previously.
Another hedge fund that we would like to mention is Christopher Lord‘s Criterion Capital, which disclosed owning 5.81 million shares of Veeva Systems Inc (NYSE:VEEV), equivalent to 19.9% of the company’s total Class A common stock, raising the stake from 4.40 million held previously. Overall, since the end of 2013, Criterion boosted its exposure to Veeva Systems from some 635,500 shares reported in its latest 13F.
Disclosure: none
Recommended Reading:
Orange Capital Boosts Stake in Pinnacle Entertainment, Inc (PNK) and Proposes a Real Estate Spin-Off
Cerberus Capital Reports Holding Over 8% of Ally Financial Inc (ALLY)
GLG Partners Reveals New Stake in China-based Shanda Games Limited (ADR) (GAME)
