Activist Paul Singer Increases Exposure to American Capital Ahead of Possible Sale & 3 Other Smart Money Moves

Let’s conclude our discussion with a recent filing submitted by the hedge fund firm managed by Carl Icahn’s protégée, Mark Rachesky. According to an amended 13D filing, MHR Fund Management currently owns 8.54 million shares of Loral Space & Communications Ltd. (NASDAQ:LORL), which constitute 39.9% of the company’s total shares. This is up from the stake of 8.13 million shares disclosed in MHR’s quarterly 13F for the fourth quarter of 2015. Loral Space & Communications Ltd. (NASDAQ:LORL) is a satellite communications company, whose satellite services operations entirely rely on its 62.8% economic interest in Canadian satellite communications company Telesat Holdings. It should be noted that the Public Sector Pension Investment Board (PSP) has far less economic interest in Telesat, but owns 29.4% of the voting interests for directors and 67.3% of the voting interest for all other matters. Mark Rachesky and his team has been trying for quite some time to assist Loral Space & Communications in selling its main asset, Telesat Holdings, to PSP, but has failed to achieve that goal thus far. Inan Dogan, the founder of Insider Monkey, recently discussed the whole story around the troubled Loral Space & Communications in more detail (read the details here). James Dondero’s Highland Capital Management had 2.12 million shares of Loral Space & Communications Ltd. (NASDAQ:LORL) in its portfolio at the end of 2015.

Disclosure: None