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Funds

Holdings and activity of leading value funds.

What We're Reading ~ 4/27/16

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  • A subprime boom, insane interest rates, predatory lending: sound familiar?
  • Luck meets perseverance: the creation of IBM's competitive advantage.
  • Inside Apple's secretive iPhone factory [Bloomberg].

Third Point's Q1 Letter: Playing Merger Arb & Pro Forma Situations

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  • Dan Loeb's Third Point is out with its first quarter letter.
  • In it, they talk about how hedge funds have seen a lot of carnage as of late.
  • Specifically, they see the decimation in merger arbitrage land as an opportunity, writing, "Many of these combined businesses should compound in value thanks to the benefit of synergies, modest financial leverage, and strong or improved management teams that have a history of successful capital allocation."

Bridger Capital Boosts Pacific Biosciences of California Stake

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  • Roberto Mignone's hedge fund firm Bridger Capital has filed a 13G with the SEC regarding their position in Pacific Biosciences of California.
  • Per the filing, Bridger now owns 5.1% of the company with over 4.46 million shares.
  • The filing was made due to activity on April 15th. This is up from the 2.15 million shares they owned at the end of 2015.

Viking Global Discloses Rice Energy Position

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  • Reas Halvorsen's hedge fund firm Viking Global has filed a 13G with the SEC and disclosed a new position in shares of Rice Energy.
  • Per the filing, Viking now owns 6.5% of the company with over 10.13 million shares.

Hedge Fund Links ~ 4/22/16

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  • Treasury says hedge funds have stunted oversight [IB Times].
  • How Japan became a hedge fund wasteland [Bloomberg].
  • Why do smart people keep investing in hedge funds? [Yahoo].

What We're Reading ~ 4/20/16

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  • The content provided within this blog is property of Market Folly and any views or opinions expressed herein are those solely of market folly and do not represent that of any firm or institution.
  • Market Folly is not an investment advisor of any kind, so do not consider anything on this page to be legal, tax, or investment advice.
  • Market Folly is not responsible for any 3rd party links or content.

2016 Sohn Conference New York & Investment Idea Contest Announced

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  • The Sohn Conference Foundation, in partnership with CNBC, has announced the speaker lineup for the 21st annual Sohn Investment Conference and 3rd annual Next Wave Sohn event in New York City.
  • Conference attendees are able to RSVP for Next Wave Sohn at no additional cost, or you can buy a limited quantity of tickets solely for this portion of the conference.
  • The Sohn Conference Foundation is also holding an investment idea conference where the winner will present his or her idea to more than 3,000 attendees at the Sohn Conference on May 4th in New York.

Grant's Spring Conference Notes 2016 - Bessent, Dimon & More

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  • The Grant's Interest Rate Observer Spring 2016 conference just took place yesterday.
  • DJIA / Gold = financial assets / real assets.
  • QE is copied abroad - the wealth effect - works primarily to boost financial assets, not real assets.

London Value Investor Conference Presentations

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  • 00-10.40Nick Kirrage, Schroders - TBC(Click here for a recent article written by Nick Kirrage: "Think big - Why income-seekers must now take a view on commodities and financial stocks")10.
  • 15-22.00The Peter Cundill Foundation Dinner - Members Dining Room, House of Commons(separate booking is required to attend this dinner).
  • The Market Folly discount for April 2016 is £150 - you can book using our code at this link: MARKETFOLLY-APRIL-DISCOUNT.

Tiger Global Updates Pure Storage Position

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  • Chase Coleman's hedge fund firm Tiger Global has submitted various SEC filings recently pertaining to their stake in Pure Storage.
  • Per a Form 4 filed with the SEC, Tiger Global sold over 3.27 million shares of Pure Storage on April 4th at a price of $13.75.

Tybourne Capital Ups Workday Stake

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  • Eashwar Krishnan's hedge fund firm Tybourne Capital has filed a 13G with the SEC regarding its stake in Workday.
  • Per the filing, Tybourne now owns 2.5% of the company with over 2.95 million shares.
  • Prior to founding Tybourne, Krishnan worked at Lone Pine Capital.

Baupost Group Reduces Bellatrix Exploration Exposure

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  • Seth Klarman's investment firm Baupost Group has filed an amended 13G with the SEC regarding its stake in Bellatrix Exploration.
  • Per the filing, Baupost now owns 4.51% of the company with over 8.65 million shares.

Hedge Fund Links ~ 4/1/16

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  • The content provided within this blog is property of Market Folly and any views or opinions expressed herein are those solely of market folly and do not represent that of any firm or institution.
  • Market Folly is not an investment advisor of any kind, so do not consider anything on this page to be legal, tax, or investment advice.
  • Market Folly is not responsible for any 3rd party links or content.

Carl Icahn Sells More Nuance Communications, Files 13D on Manitowoc Foodservice

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  • A 13G filed with the SEC shows that Icahn now owns around 30 million shares of NUAN, or around 9.88% of the company.
  • Secondly, Icahn has also filed with the SEC regarding shares of Manitowoc Foodservice.
  • Per the filing, Icahn now owns 7.73% of the company with over 10.58 million shares.

Pershing Square Trims Mondelez Stake

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  • Bill Ackman's hedge fund firm Pershing Square Capital has filed an amended 13D with the SEC regarding its stake in Mondelez.
  • Pershing now owns 5.6% of the company with over 88.1 million shares.
  • The Wall Street Journal notes that Pershing was down 26% for the year and that "Ackman told investors Wednesday that the Mondelez sale would leave Pershing with 'substantial uninvested cash' ... and assured investors that he had no immediate plans to sell other assets."

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