PepsiCo, Inc. (PEP), EMC Corporation (EMC): Hedge Fund Tigershark Partners to Close Doors

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PepsiCo, Inc. (NYSE:PEP) was Tigershark’s next largest long position (ignoring its position in the SPY), with the fund holding 66,560 shares valued at $6.29 million. The position was a newer one for Tigershark, having been opened during the second quarter of 2014. Since the end of that quarter, PepsiCo, Inc. (NYSE:PEP) has gained just over 7%.

PepsiCo, Inc. (NYSE:PEP)

Unlike Teva, PepsiCo, Inc. (NYSE:PEP) proved to be a less popular pick among the funds we track during the last quarter, with invested capital in the soft drink producer from the funds we track falling to $7.21 billion from $10 billion, one of the largest migrations of capital of any stock, which was particularly noteworthy given that it wasn’t due to a decline in the value of its shares, as PepsiCo actually gained 3% during the quarter. A large reason behind that capital migration was due to Donald Yachtman’s Yachtman Asset Management slashing its large position by 54%, to 26.94 million shares.

Lastly is EMC Corporation (NYSE:EMC), in which Tigershark held a long position consisting of 152,200 shares valued at 4.53 million. The position was notable for the fact that it was one of only four new positions Tigershark opened during the fourth quarter, and the only one that was a long position in a company. EMC Corporation (NYSE:EMC) was up by 3% for the fourth quarter, but has dipped 13.55% year-to-date, and been downgraded by two analysts, Piper Jaffray and Wells Fargo, who see few growth catalysts for the company in the short term. Billionaires Dan Loeb and Steven Cohen were nonetheless also bullish on the company heading into 2015, opening new positions of 7.0 million and 4.92 million shares respectively.

Disclosure: None

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