Hedge Fund Highlights: Israel Englander, Eddie Lampert & Starboard Value LP

Page 1 of 2

3 bullish moves by hedge fund Millennium Management (MarketWatch)
In the latest round of 13F filings, Israel Englander‘s Millennium Management disclosed its equity positions as of the end of March. It is a diverse equity portfolio, although there is a slight focus on basic materials, services and health-care stocks. First off is PPL Corporation (NYSE:PPL), a $21.2 billion market cap energy and utility holding company, engaged in the generation and marketing of electricity in the northeastern and western U.S. and in the delivery of electricity in Pennsylvania and the U.K. Englander’s fund has increased its stake in PPL by more than 40% during the quarter and now owns over 13 million shares, valued at around $435 million.

MILLENNIUM MANAGEMENT

Sears loss widens as discounts fail to arrest fall in sales (Reuters)
Sears Holdings Corp (NASDAQ:SHLD) posted a bigger loss for the first quarter as the struggling retailer failed to arrest a fall in sales despite offering heavy discounts to woo shoppers. Shares of the company, which operates Sears department stores and the Kmart discount chain, fell 4 percent in premarket trading. Sears, controlled by hedge fund billionaire Eddie Lampert, has been shedding assets and closing stores as it battles the operating losses and weak sales that have plagued the company since 2005, when the two chains were merged.

Former SAC, Och-Ziff Manager Said to Consider Own Hedge Fund (Bloomberg)
Ken Xu, a former managing director at SAC Capital Advisors and Och-Ziff Capital Management Group LLC (OZM), is considering setting up his own hedge fund in Hong Kong, said a person with knowledge of the matter. Xu left SAC, now renamed Point72 Asset Management LP, earlier this month, said the person, who asked not to be identified as the information is private. His license with the company was removed on May 16, according to data posted on the website of Hong Kong’s Securities and Futures Commission. Jonathan Gasthalter, a spokesman for Stamford, Connecticut-based Point72 at Sard Verbinnen & Co. in New York, declined to comment.

Pine River Capital Management’s Top Bullish Moves During the First Quarter (Insider Monkey)
A few days ago, Brian Taylor’s Pine River Capital Management, disclosed its equity positions at the U.S. Securities and Exchange Commission. Over the first fiscal quarter of 2014, the fund started 238 new stock positions, increased its stakes in 97 of its preexisting holdings, and sold out of 297 stocks. In this article, I will take a look Pine River’s 13F filing and briefly analyze five of its largest bullish moves. First off is Intuitive Surgical, Inc. (NASDAQ:ISRG), a $14 billion market cap designer, manufacturer and marketer of da Vinci Surgical Systems and related instruments and accessories. Over Q1, Mr. Taylor’s fund started a position in the stock with 265,817 shares, now worth more than $96 million.

UPDATE 2-Starboard launches fight to take over Darden board (Reuters)
Starboard Value LP launched a fight to take over the board of Darden Restaurants, Inc. (NYSE:DRI), saying the planned sale of Darden’s Red Lobster seafood chain was “a value-destructive transaction” that ignored the rights of shareholders. Darden said last week it would sell Red Lobster to private equity firm Golden Gate Capital for $2.1 billion, defying Starboard and another activist investor that had opposed the sale of the struggling chain.

Cramer’s favorite candy aisle (CNBC.com)

Page 1 of 2
Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

Top 10 Highest Paying Jobs in the World

Most Expensive Day-Care in New York City

The 10 Cheapest Places to Retire Abroad

Top 10 Most Expensive Luxury Cars in the World – 2014

Killer Small Business Ideas

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!