Select Equity Group Raises Stake in Walter Investment Management (WAC)

Conforming to a new filing with the SEC, Robert Joseph Caruso’s fund, Select Equity Group, has increased its stake in the Walter Investment Management (NYSE:WAC) to 11.8% from 8.6 % registered only a few days ago. Hence, the 3.o percentage points expanded the fund’s interest to a total of almost 4.4 million shares.

Walter Investment Management Corp (NYSE:WAC)

Apparently, the profit of more than $250 millions stated in the annual financial report for 2013, compared to more than $22 million losses registered the previous year and the overvalue of $38 per share standing much higher than the current price, proves Walter Investment Management Corp (NYSE:WAC)’s recovery, along with the well-going business in the mortgage and loans field.

Another confirmation of the fact above mentioned is held by the recent raise of Steven Cohen’s fund, SAC Capital Advisors’ stake in the thriving mortgage corporation up to nearly 1.9 million shares, from a bit less than 1.2 million held before, collecting 5.0% of the Walter Investment Management Corp (NYSE:WAC)’s common stock.

Other hedge funds possessing a strong position in the Walter Investment Management Corp (NYSE:WAC) are Birch Run Capital, managed my by Daniel Beltzman and Gergory Smith with 2.8 million shares, and Brian Taylor‘s Pine River Capital Management, carrying 2.4 million shares.

Select Equity Group is a long-only and long/short fund, which in the latest round of 13F filings, the fund disclosed a diversified equity portfolio worth over $9.6 billion. The largest holding of Select Equity, represents a $$417.7 million stake in O’Reilly Automotive Inc (NASDAQ:ORLY), which amasses over 3.2 million shares. It is followed by DENTSPLY International Inc. (NASDAQ:XRAY), in which the fund owns around 7.8 million shares, worth $$376.9 million.

Disclosure: none

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