FINANCIALSįarallon Capital Management nearly doubled it position in credit card company Visa Inc to 1.17 million shares. Third Point opened a 5 million share position in Kraft Foods Group Inc. TPG-Axon opened a new 1.2 million stake retail chain Dollar General Corp. Tiger Consumer added about 500,000 shares to its stake in Monster Beverage Corp, whose stock dropped 24 percent in the third quarter. Yale University’s $19.3 billion endowment acquired 133,000 shares of children’s clothing company Carter’s Inc. Much of the selling in stocks right now is a response to concern about whether a newly re-elected President Obama and a Republican-controlled House of Representatives will be able to reach an agreement to deal with expiring income tax cuts and large pre-planned spending cuts.įor more on how big money managers traded in the third quarter, here is a breakdown by sectors and high-profile stocks: Since 13-F filings are released roughly 45 days after the end of quarter, it is important to note that what might have appeared as profitable bets by a manager in the third quarter might not be so smart right now in light of the recent market reaction. By contrast, stocks have retreated mightily so far in the fourth quarter, with the S&P 500 falling 5 percent as of Nov. stocks and hedge funds, with the benchmark S&P 500 rising 5.76 percent and the average hedge fund gaining 3 percent. Overall, the third quarter was a good one for U.S. Viking Global Management also took a recent liking to Facebook, a sign that the company’s shares may have fallen so much that managers are seeing value in the stock.Įinhorn, meanwhile, went wild over Yahoo, taking a 5 million share stake in the company. Other filings reveal that $6 billion Tiger Global Management made a big bet on Yahoo Inc by opening a 25 million share position in the internet company, and Philippe Laffont’s $3.5 billion Coatue Management acquired 1.4 million shares in social networking company Facebook Inc. ![]() The filings give a glimpse into the thinking and strategies of managers and, in this case, indicate that while Einhorn is bearish on the two stocks, McCormack is more bullish. Spokespeople for Paulson did not immediately return emails or calls asking for comment. ![]() The SEC did say that certain funds affected by Superstorm Sandy could ask for an extension to file. John Paulson’s Paulson & Co had not released its filing one hour after the SEC’s customary deadline. ![]() Securities and Exchange Commission after the close of each quarter. Tiger Consumer and TPG-Axon disclosed their recent moves in so-called 13-F filings, which all large money managers are required to file with the U.S. Quarterly regulatory filings for Tiger Consumer show McCormack acquired a 280,000 share stake in Chipotle Mexican Grill Inc and increased his fund’s stake in Green Mountain Coffee Roasters Inc by 500,000 shares to 1.5 million shares.Įinhorn, one of the $2 trillion hedge fund industry’s most closely watched managers, has given presentations questioning the prospects for both Chipotle and Green Mountain Coffee.Īlso taking the opposite side of Einhorn on Green Mountain is Dinakar Singh, whose $4 billion TPG-Axon Capital Management opened a 2.5 million share stake in Green Mountain Coffee. McCormack’s $2 billion fund jumped into two stocks that Einhorn, founder of $8 billion Greenlight Capital Management and one of a handful of savvy traders who can move markets with his “short” calls, has said publicly he is shorting, or betting against. NEW YORK, Nov 14 (Reuters) - Patrick McCormack, the manager of hedge fund Tiger Consumer Management, decided to bet against rival David Einhorn in the third quarter.
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