Smart money moves: The first three days of this week have been particularly busy in the world of hedge fund filings, and like usual, a few names stand out amongst the rest. Here are eight moves we think you should try to keep on your radar as the calendar turns to November.
1) Carl Icahn and Apple: This afternoon, Icahn tweeted that he “sent a letter to Tim Cook” and that he’s starting a new Ackman-esque website called Shareholders’ Square Table. In the letter, Icahn mentions giving an unknown pledge, according to a CNBC source. It’s likely that Icahn is furthering his effort to get an expanded Apple Inc. (NASDAQ:AAPL) buyback.
2) Carl Icahn and Netflix: Icahn also cut his Netflix, Inc. (NASDAQ:NFLX) stake in half earlier this week, booking a gain of more than 450%. In a tweet he thanked Reed Hastings (below), Ted Sarandos and Kevin Spacey.
3) Mason Hawkins and Guinness: Earlier today, a filing disclosed that Southeastern Asset Management, managed by Mason Hawkins, increased its stake in the London-listed Guinness Peat Group Plc (LON:GPG). Southeastern now holds 5.55% of the company’s total voting rights.
4) Starboard Value and Wausau: Famed activist Jeff Smith and Starboard Value reported a 15.2% stake in Wausau Paper Corp. (NYSE:WPP). The hedge fund also sent a letter to Wausau’s CEO and Board of Directors, calling for a share buyback and a dividend hike.
5) Warren Buffett and Tesco: In the same light as Mason Hawkins, Warren Buffett also made a move on the London Stock Exchange earlier this week. Buffett and Berkshire Hathaway reported that they’ve lowered their stake in Tesco PLC (LON:TSCO) to below 5% of all outstanding shares. This is a slight cut from the 5.1% stake Buffett reported before the move.
6) Jana Partners and QEP: Activist Barry Rosenstein and his hedge fund, Jana Partners, disclosed a 7.5% stake in QEP Resources Inc (NYSE:QEP). Jana mentions it will seek to add its own board members, split QEPFS from QEP, and pursue a buyback/dividend boost.
8) Carl Icahn and WebMD: A third major move of the week for Carl Icahn, he also reported that he has cut his WebMD Health Corp. (NASDAQ:WBMD) stake to less than 5% of the company. Consequently, he is no longer an activist here.