Temple-Inland, Inc (TIN) manufactures corrugated packaging and building products. It rose 25.09% after International Paper (IP) offered $32 per share to acquire the company. The stock gained $6.18 so far today. Here are the hedge funds made most profits from the rise in TIN:
1. Senator Investment Group – Doug Silverman: Gained $14.2 Million
2. Elm Ridge Capital – Ron Gutfleish: Gained 12.5 Million
3. Seneca Capital – Douglas Hirsch: Gained $7.5 Million
4. Appaloosa Management Lp – David Tepper: Gained $7.2 Million
5. Ivory Capital – Curtis Macnguyen: Gained $7.2 Million
6. Gruss Asset Management – Howard Guberman: Gained $6.2 Million
You can see the rest of the winners here. These calculations assumed that these hedge funds didn’t increase or reduce their stock positions in Temple-Inland, Inc (TIN) since the end of June. We also didn’t take into account their option positions.