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Funds

Holdings and activity of leading value funds.

What We're Reading ~ 9/2/15

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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.

Pennant Capital Cuts Universal Alloy Stake Further

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  • Alan Fournier's hedge fund firm Pennant Capital has been gradually selling down its Universal Stainless & Alloy Products position.
  • Pennant still owns 849,069 shares of USAP.
  • We've also highlighted a stock Pennant has been buying lately.

Pleasant Lake Partners Boosts Del Taco & Hemisphere Media Stakes, Sends Letter to Magnachip

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  • Per a Form 4 filed with the SEC, Pleasant Lake was out buying shares of TACO on August 28th and 31st at prices of $13.2 and $12.99.
  • Accordingly, in order to effectuate this, we are writing to you today to formally submit an indication of interest to purchase all of the outstanding shares of Magnachip that PLP does not currently own at a price of $10.00 per share in cash.

Viking Global Boosts Mallinckrodt Position

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  • Reas Halvorsen's hedge fund firm Viking Global has filed a 13G with the SEC regarding its position in Mallinckrodt.
  • Per the filing, Viking now owns 4.9% of the company with over 5.72 million shares.
  • The filing was made due to activity on August 21st. We've also highlighted some of Viking Global's short positions here.

Warren Buffett's Berkshire Hathaway Boosts Phillips 66 Stake

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  • Warren Buffett's conglomerate Berkshire Hathaway has filed a Form 3 and Form 4 with the SEC.
  • Per the filing, Berkshire now owns over 57.9 million shares of Phillips 66.
  • Shares largely traded sideways over that timeframe, between $75 and $84. During the recent market turmoil they traded as low as $69.79.

Eminence Capital's Ricky Sandler on Wall Street Week: KORS, EBAY/PYPL, ZNGA, RGC & More

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  • Ricky Sandler, founder of hedge fund Eminence Capital, was recently interviewed on Anthony Scaramucci's rebooted show Wall Street Week.
  • Sandler focuses on "Quality value," looking for quality businesses but trading at discount prices.
  • For more, be sure to check out Mario Gabelli's interview on Wall Street Week from last week too.

Stockbridge Partners Increases Advanced Drainage Systems Stake

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  • Stockbridge Partners has filed a 13G with the SEC regarding shares of Advanced Drainage Systems.
  • Per the filing, Stockbridge now owns 6.9% of the company with over 3.66 million shares.

A Wealth of Common Sense by Ben Carlson ~ Book Review

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  • The individual investor versus the institutional investor- The traits required to be a successful investor- Defining market and portfolio risk- Market myths- Defining your investment philosophy- Behavior on Wall St- Asset allocation- A comprehensive investment plan- Financial professionals.

Hedge Fund Links ~ 8/28/15

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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 Takes Freeport McMoRan Stake

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  • Activist investor Carl Icahn has filed a 13D with the SEC regarding shares of Freeport McMoRan.
  • Shares of FCX were down as much as 65% for the year prior to Icahn revealing his stake.
  • We've recently highlighted other portfolio activity from Icahn here.

Pershing Square Semi Annual Report: Mondelez, Nomad Foods & More

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  • Bill Ackman's hedge fund firm Pershing Square is out with its semi-annual report and second quarter letter.
  • The thesis here is a consolidation play as they believe Iglo is a platform investment to then acquire more of the packaged food industry.

Sequoia Fund Investor Day Transcript 2015 (Ruane Cunniff & Goldfarb)

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  • Ruane Cunniff & Goldfarb recently released their Sequoia Fund investor day transcript for 2015.
  • Sequoia Fund's investment management team discussed their thesis and outlook on numerous portfolio companies, including Valeant, Google, Mohawk, Idexx, Fastenal, Rolls Royce, TJX, O'Reilly, and many more.

Pleasant Lake Partners Adds To Hemisphere Media Stake

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  • Jonathan Lennon's hedge fund firm Pleasant Lake Partners has filed a Form 4 with the SEC regarding its position in Hemisphere Media.
  • They also show a position in Hemisphere warrants with an exercise price of $12 and an expiration of April 4th, 2018.
  • We've also highlighted other recent portfolio activity from Pleasant Lake Partners.

What We're Reading ~ 8/26/15

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  • American economy blues: everything you need to worry about [Fortune].
  • Housing, consumer confidence are bright spots in US economy [WSJ].
  • Credit scores are rising and becoming more visible [NYTimes].

Glenview Capital Accumulates More Tenet Healthcare

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  • Larry Robbins' hedge fund firm Glenview Capital has filed a Form 4 with the SEC regarding its position in Tenet Healthcare.
  • Per the filing, Glenview now owns over 15.99 million shares of THC. They bought 500,000 shares combined over the course of August 21st, 24th, and 25th at weighted average prices of $49.3752, $46.8964, and $47. This is the second time they've bought THC shares in August.

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