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Cloning Carl Icahn is a good idea. Now I'm of course not talking about a laboratory experiment whereby we create an army of little corporate activists that will grow into so many billionaires. Rather, I'm referring to following the renowned activist's moves in and out of the stocks that he...
Hudson Executive Capital disclosed on Monday that it bought 143,200 shares of USA Technology (USAT) at $4.46 along with call options giving the fund the right to buy another 1,250,000 shares of stock at $10. The call options expire on Jan. 17, 2020. Update: At 5:52 PM on Sept. 26, after the publication...
Baupost Group activist filings are rare events. Seth Klarman, the renowned value investor who heads Baupost, prefers to take passive stakes in companies. Since 2006, Baupost has filed 352 passive 13G filings, and made only 25 activist 13D filings, according to data from WhaleWisdom.com. The returns of investors following Baupost into its activist positions...
Starboard Value 13Ds are worth paying attention to. The hedge fund, led by manager Jeff Smith, is one of the most prolific -- and successful -- activist funds. Since 2011, Starboard has filed 305 activist reports: 47 initial 13Ds and 258 13D/A SEC filings. Over this period, investors who bought when Starboard filed...
Intra-Cellular Therapies FDA news release on Sept. 10 appeared positive. The FDA informed the company that it will not schedule an Advisory Committee meeting in connection with its review of the company’s new drug application (NDA) for Lumateperone for the treatment of schizophrenia. All good, moving ahead, right? But in the world of medical...
Cigna Insider Buying is a rarity. Only one corporate insider had bought shares of the giant health insurer on the open market since 2003. That changed dramatically on Monday, as Cigna (CI) CEO David Cordani disclosed the purchase of 32,509 shares of his company's stock at $155.17. Cordani increased his ownership by 10% to 357,550 shares, a...
Replicating Baker Brothers holdings, using 13F filings submitted quarterly by the life sciences hedge fund, has been an awesome strategy over the years. But by focusing on the smaller stocks owned by the fund, returns were even better. Baker Bros Advisors LP, with $17.33 billion under management, is one of the top performing hedge...
On August 30, Scion Capital filed a 13D on Tailored Brands(TLRD) disclosing a 5.18% position in the troubled formal apparel retailer that owns Men's Warehouse and Jos. A. Bank. Michael Burry's hedge fund also disclosed three separate letters sent to management in recent weeks. In the letter dated August 30, Burry reiterated that TLRD should cut its...
The Lottery Ticket Stocks Q2 2019 portfolio was down 6.72% for the quarter, tracking the Russell 2000 Index lower. However, the portfolio of top hedge funds' most speculative holdings, rebalanced quarterly based on 13F filings, was up 35.65% year-to date as of August 15. Last quarter I presented the...
Howard Mark's Oaktree Capital navigated a volatile Q2 2019, returning 9.03%. That's based on an equal-weighted portfolio of the fund's top 20 holdings. It was the best quarterly return for large Hedge Funds -- those with greater than $5 billion in 13F securities. Oaktree's diversivied portfolio served it well, with a gold stock --...