Hedge Funds Bet on Solera Holdings Inc (SLH) as Sale Rumors Appear

As mentioned earlier, hedge funds were bullish on Solera Holdings during the second quarter, as the number of funds with long positions increased to 20 from 15, while the aggregate value of their holdings went up to $289.97 million from $259.69 million at the end of March.

Moreover, at the end of June, Jeffrey Tannenbaum’s Fir Tree held the largest stake in Solera Holdings Inc (NYSE:SLH) among the hedge funds Insider Monkey tracks. Fir Tree initiated a stake of 2.13 million shares during the second quarter. Millennium Management, led by Israel Englander, also increased its stake in Solera to 290,077 shares held at the end of the second quarter. On the opposing side of the spectrum, we have Ken Griffin’s Citadel Investment Group, which cut its stake in the company by 345,200 shares, to 1.68 million shares. Nonetheless, Citadel remained the second-largest shareholder in our database, trailing Fir Tree. Steve Cohen’s Point72 Asset Management also dumped all of its 70,300 shares in Solera during the same period.

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