Hedge Fund News: Leon Cooperman, Facebook Inc (FB), Dell Inc. (DELL)

Page 1 of 2

Editor’s Note: Related tickers: Facebook Inc (NASDAQ:FB), Dell Inc. (NASDAQ:DELL), Apple Inc. (NASDAQ:AAPL), J.C. Penney Company, Inc. (NYSE:JCP), SPDR Gold Trust (ETF) (NYSEARCA:GLD), The Blackstone Group L.P. (NYSE:BX)

OMEGA ADVISORSFacebook gets liked by Tiger Consumer, shunned by Omega (Tech2)
Leon Cooperman‘s Omega Advisors soured on Facebook Inc (NASDAQ:FB) in the second quarter, while Patrick McCormack’s Tiger Consumer Management took a shine to the social networking company. Regulatory filings on Wednesday from hedge funds and other investment firms reveal how big money managers reshaped their portfolios in the quarter. Their so-called 13F filings with the US Securities and Exchange Commission offer a window into the strategies of managers when it comes to buying and selling US stocks. Omega, for instance, in the quarter sold 3.67 million shares of Facebook Inc (NASDAQ:FB), according to the firm’s regulatory filing. The hedge fund also took a new stake of 5.72 million shares in New Residential Investment, a mortgage real estate investment trust. Tiger Consumer, meanwhile, added 1.2 million shares of Facebook Inc (NASDAQ:FB), bringing its total holding to 4.8 million shares…

Hedge Funds Triple Dell Stakes Boosting Buyout’s Prospects (BusinessWeek)
Hedge-fund managers almost tripled their holdings of Dell Inc. (NASDAQ:DELL) common shares in the second quarter while traditional mutual-fund firms cut their stakes in the computer maker, a trend that could boost Michael Dell’s bid to take his company private. Money managers classified as hedge funds increased their portion of Dell Inc. (NASDAQ:DELL)’s 1.78 billion shares outstanding to 18 percent as of June 30 from 6.5 percent as of March 31, according to holder reports filed as of yesterday with the U.S. Securities and Exchange Commission. Elliott Management Corp., the hedge-fund firm founded by Paul Singer, bought almost 22 million shares during the period, and Abrams Capital Management LP, a Boston-based firm run by David Abrams, purchased 15 million.

Apple regaining its popularity among the biggest hedge funds (NDTV)
Apple Inc. (NASDAQ:AAPL) is regaining its popularity among the biggest hedge funds, some of which have said a massive sell-off this year has gone too far. After Apple Inc. (NASDAQ:AAPL) was dumped left and right starting in late 2012, noted stock picker Leon Cooperman of Omega Advisors re-entered Apple Inc. (NASDAQ:AAPL) shares in the second quarter, while George Soros’s Soros Fund Management LLC increased its stake and Greenlight Capital’s David Einhorn held on to his 2.4 million shares, according to quarter regulatory filings on Wednesday. Cooperman, whose hedge fund had roughly $7 billion in assets last November, took a new position of 31,000 shares in the iPhone, iPad and Mac computer maker after selling 266,404 shares of the company in the fourth quarter of last year.

Porsche Faces New Hedge Fund Cartel Claim in Legal Battle (BusinessWeek)
Porsche Automobil Holding SE faces a new legal maneuver from hedge funds seeking to recoup billions of euros they say they lost amid the former sports carmaker’s aborted bid to buy Volkswagen AG (FRA:VOW) The funds, which include Elliott International LP and Perry Partners LP, are suing Porsche for 1.81 billion euros ($2.4 billion) over claims it manipulated Volkswagen shares by denying interest in a deal before it made a bid. After other investors lost two similar claims at a German tribunal last year, the funds added antitrust claims against Porsche to their suit, forcing a move to a court that specializes in cartel suits.

Hedge funds need to tackle insider trading perception (Risk)
No one likes being fooled, being seen as a fool, thought to have been foolish. But that is exactly what most hedge fund managers are, or at least according to economic theory, a ‘greater fool’: the idea that it is possible to make money by buying securities, whether overvalued or not, and later selling them at a profit because there will always be someone – a bigger or greater fool – who is willing to pay the higher price. This activity has come under an intense spotlight since the financial crisis. Some would say regulators, and in particular the Securities and Exchange Commission, are on a witch hunt, unjustly targeting successful hedge funds. Others would say it is about time regulators stop unfair practices and clean up trading practices at hedge fund houses.

Icahn seeks to fast-track his Dell lawsuit (Reuters)
Activist investor Carl Icahn will ask a Delaware court on Friday to fast-track his lawsuit against Dell Inc. (NASDAQ:DELL), a key thrust in his months-long effort to derail CEO Michael Dell’s controversial $24.8 billion offer to buy and take private the No. 3 PC maker. Icahn is trying to accelerate the timeframe on his lawsuit, hoping to head off a September 12 special shareholders’ vote on a takeover proposal that the hedge fund billionaire and other major investors argue severely undervalues the company. …Icahn, who wants to install his own directors on the board and oust the founding CEO, argues that Dell Inc. (NASDAQ:DELL) and a special committee overseeing the takeover are short-changing investors.

Who’s right on gold: Hedge funds or consumers? (CNBC)

Page 1 of 2
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

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

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!