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Daily Wrap: The Biggest Hedge Fund Moves of the Day

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Levin Capital Now Owns Over 25% of Fluidigm

According to a recent 13D filing with the SEC, John A. Levin‘s Levin Capital Strategies has increased its stake in Fluidigm Corp (NASDAQ:FLDM) to 7.32 million common shares, which account for 25.2% of the company’s outstanding stock. The fund’s stake has been raised from 5.69 million shares, which accounted for 19.6% of the float, as per its previous 13G filing on the company, dated September 30. While the latest filing was on a Form 13D, the fund has not gone activist on the stock, maintaining that its investment remains passive and that its 20% stake necessitated filing a 13D.

Since the beginning of the year, Fluidigm Corp (NASDAQ:FLDM) stock has lost 57.45%. For the second quarter of 2016, Fluidigm disclosed a loss per share of $0.64 and revenue of $28.2 million, worse results than the loss per share of $0.53 and revenue of $28.6 million that it pulled in for the same quarter of the previous year. Recently, Cantor Fitzgerald reiterated its ‘Buy’ rating on Fluidigm Corporation’s stock but lowered its price target on it to $9 from $11.

At Insider Monkey, we track more than 750 hedge funds, whose 13F filings we analyze as part of our small-cap strategy. Our research has shown that imitating a portfolio that includes the 15 most popular small-cap stocks among hedge funds can outperform the market by as much as 95 basis points per month on average (see more details here).

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Blue Mountain Snatches Up Gores Holdings Other Class of Shares

Andrew Feldstein and Stephen Siderow’s Blue Mountain Capital recently filed an amended Form 13G with the Securities and Exchange Commission, in which it reported acquiring 374,687 Class A Common Shares of Gores Holdings Inc. (NASDAQ:GRSH), which represent 1% of the company’s outstanding stock. Previously the fund held no Class A Shares of the company, but it did report owning 3.03 million units of Gores Holdings Inc. (NASDAQ:GRSHU) in its 13F filing for the June 30 reporting period.

As per our hedge fund database, 17 smart money managers that we track were bullish on Gores Holdings (NASDAQ:GRSH) at the end of the June quarter, down by one from the end of March. Some of the investors who reported long positions in the stock contained Nick Niell’s Arrowgrass Capital Partners, which held a position worth $19.53 million, Fir Tree, founded by Jeffrey Tannenbaum, with a position valued at $19.4 million, Neil Chriss’ Hutchin Hill Capital, Glenn Russell Dubin’s Highbridge Capital Management, and Sander Gerber’s Hudson Bay Capital Management.

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We’ll check out two other recent hedge fund moves on the next page of this article.

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