5 Activist Hedge Funds to Watch

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Mortgage servicer PHH Corporation (NYSE:PHH) saw Daniel Lewis’ Orange Capital reiterate its 5% stake last week. Lewis sent a letter to PHH’s CEO encouraging a spinoff of the company’s Fleet Management Services and/or Mortgage divisions (see the full letter here). The fund manager also requested that PHH publicly confirm rumors surrounding both of these possible moves, which have the potential to stimulate shareholder value.

Carl Icahn, lastly, disclosed on Wednesday that he had received a key Board appointment at Enzon Pharmaceuticals, Inc. (NASDAQ:ENZN), a long term holding in his equity portfolio. According to the filing, Icahn will give the Board seat to Icahn Capital managing director Jonathan Christodoro. Shares of Enzon are up 3.5% over the past week on the news.

Disclosure: none

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