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Holdings and activity of leading value funds.

Third Point's Q1 Letter: Thesis on Honeywell, UniCredit, E.On

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  • Dan Loeb's hedge fund firm Third Point returned 5.9% in the first quarter of 2017.
  • Their Q1 letter to investors was just released and outlines their thesis on stocks such as Honeywell, UniCredit, and E.On.
  • Third Point sees the first quarter as a 'turning point' for European financials as they've traded at lower valuations and UniCredit recently raised 13 billion Euros in capital in March.

ValueAct Capital Takes KKR Stake

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  • Jeff Ubben's activist firm ValueAct Capital has taken around a $750 million stake in private equity firm KKR. Partner Mason Morfit talked about the position at 13D Monitor's Active-Passive Investor Summit in New York, according to Business Insider.
  • At the presentation, Morfit called KKR a "50 cent dollar" and thinks that big firms will get even larger.
  • ValueAct recently returned a chunk of capital to investors as they were having trouble finding ideas in a market with stretched valuations.

Hedge Fund Links ~ 4/28/17

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

What We're Reading ~ 4/26/17

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Berkshire Hathaway Buys More Liberty SiriusXM

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  • Warren Buffett's Berkshire Hathaway has submitted a couple of Form 4's with the SEC regarding its position in Liberty Sirius XM. Per the filings, Berkshire was out buying both the Series C stock and the Series A stock.
  • Berkshire now owns 27.23 million shares of LSXMK. They also bought over 2.47 million LSXMA shares in total across the same dates at weighted average prices between $38.6046 and $40.795.
  • They now own over 13.15 million LSXMA shares.

Foxhaven Boosts Trivago Stake

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  • Michael Pausic's hedge fund firm Foxhaven Asset Management has filed a 13G with the SEC regarding its position in Trivago.
  • Per the filing, Foxhaven now owns 11.4% of Trivago with over 3.42 million shares.
  • The latest filing was made due to activity on April 20th. About Foxhaven Asset Management.

Boyar Research Reports on Hanesbrands, Legg Mason, and Liberty Global

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  • Boyar was kind enough to provide our readers with this report as well as additional reports on Legg Mason and Liberty Global.
  • Boyar Research takes a private equity approach to public market investing by identifying securities trading at a substantial discount to their estimate of intrinsic or private market value.
  • Liberty Global shares have de-rated to ~9x EV/OCF, below their longer-term average of ~10x-offering a bargain, in our view, for a high-margin, recession-resistant business best positioned to capitalize on the secular growth in internet data usage.

Marcato Capital's Presentation on Buffalo Wild Wings

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  • Activist investor Mick McGuire's Marcato Capital Management has filed an amended 13D with the SEC regarding its position in Buffalo Wild Wings.
  • Per the filing, Marcato has sent a letter indicating they think the board and management at the company needs to be replaced.
  • 3) Create a capital deployment strategy based on returns and profitability,.

Market Strategist Jeff Saut on Gaining Street Smarts

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Bridger Capital Adds To Atara Biotherapeutics

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  • Roberto Mignone's hedge fund firm Bridger Capital has filed a 13G with the SEC regarding its stake in Atara Biotherapeutics.
  • Per the filing, Bridger now owns 5.2% of the company with over 1.52 million shares.
  • This means Bridger has boosted its position size by 725,870 shares since the end of 2016.

Soros Fund Boosts Sigma Designs Stake

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  • George Soros' family office Soros Fund Management has filed a Form 4 and 13G with the SEC regarding shares of Sigma Designs.
  • Per the filing, Soros now owns 10.66% of Sigma Designs with over 4.06 million shares.
  • The Form 4 indicates Soros was buying on April 12th and 13th at a weighted average price of $5.6371.

Tiger Global Adds To Apollo Stake Again

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  • Chase Coleman's hedge fund firm Tiger Global has filed an amended 13G with the SEC regarding its stake in Apollo Global Management.
  • They now own 15% of Apollo Global with over 28.1 million shares.
  • As we've detailed previously, Tiger has been boosting its APO stake.

Hedge Fund Links ~ 4/21/17

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

Special Edition What We're Reading: Amazon (AMZN)

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  • The high speed trading behind your Amazon purchase [WSJ].
  • Amazon wants Cheerios, Oreos and other brands to bypass Walmart [Bloomberg].
  • Amazon, the world's most remarkable firm, is just getting started [Economist].

What We're Reading ~ 4/19/17

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