Eric Bannasch’s Cadian Capital Locked Its Losses in MF Global

Eric Bannasch’s Cadian Capital cut its position in MF Global Holdings Ltd. (MF) on October 27th and 28th to stop its losses. According to the SEC filings, Cadian Capital had 20.8 million MF shares as of October 25th, up by 100% from its 10.2 million shares position in the second quarter. But later according to the firm’s Form 4, Cadian Capital reversed the transaction and sharply disposed about 7.7 million shares. MF Global has lost by 70% since October 24th when the company lost billions of dollars in European sovereign debt, and its long-term debt was downgraded by Moody’s to Baa3. Now Cadian Capital still had 13 million shares in MF, while MF is trading at $1.20.

mf-global-logo-480x154

MF was in twelve hedge funds in the second quarter. Debra Fine’s Fine Capital Partners followed Cadian Capital and had 8.06 million shares. Other hedge funds had smaller positions in the stock. Chuck Royce’s Royce & Associates had 765 thousand shares, and Ken Griffin’s Citadel Investment Group had 196 thousand shares.

Eric Bannasch is the portfolio manager in Cadian Capital. He has a MBA degree in Stanford University Graduate School of Business, and a Bachelor’s dgree in Stanford University. Cadian Capital has a 13F portfolio of more than $2.4 billon. More than half of the firm’s capital is invested in Technology sector.

MF Global Holdings Ltd. is a holding company. The company is a commodities and listed derivatives broker in the market. The Company provides access to more than 70 exchanges worldwide. MF Global also provides research and market commentary, as well as providing clearing and settlement services. MF Global Holdings Ltd. was founded in 1981 and is based in New York City, New York.

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!