Buffett, Starboard Among the Elite Investors to Disclose New Moves

In a Schedule 13G filing, Nick Niell’s Arrowgrass Capital Partners reported owning 5.99 million shares of OmniVision Technologies Inc. (NASDAQ:OVTI), accounting for 9.99% of the company’s shares. This denotes an increase of 3.47 million shares relative to the position disclosed through the fund’s 13F filing for the third quarter. On April 30, the designer and developer of high-performance and cost-efficient semiconductor image-sensor devices announced that it had agreed to be bought by a consortium that comprised Hua Capital Management, CITIC Capital Holdings Limited, and GoldStone Investment. The terms of the merger agreement say that OmniVision shareholders are set to receive $29.75 per share in cash. In the meantime, shares of OmniVision Technologies Inc. (NASDAQ:OVTI) are trading approximately $1 below the deal price, so it is highly likely that Arrowgrass Capital Partners is either betting on the successful completion of the aforementioned deal. The transaction is anticipated to close in the third or fourth-quarter of 2016, as it is still subject to regulatory approval in the People’s Republic of China. A total of 23 smart money investors held stakes in the company at the end of the third quarter, amassing 14.50% of its outstanding shares. Robert Emil Zoellner’s Alpine Associates owns 1.37 million shares in OmniVision Technologies Inc. (NASDAQ:OVTI) as of September 30.

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As stated by a Form 4 filing, Warren Buffett’s Berkshire Hathaway purchased 1.65 million shares of Phillips 66 (NYSE:PSX) on Thursday, at prices that ranged from $75.94 per share and $78.11 per share. After the recent purchase, Berkshire Hathaway owns 63.94 million shares of the oil refiner. The energy manufacturing and logistics company, which operates midstream, chemicals, refining, and marketing and specialties businesses, has seen its stock decline by 17% since the beginning of December. Even so, the stock is up by 29% over the past year and trades at attractive price-to-earnings ratios. It is believed that Buffett invests in Phillips 66 (NYSE:PSX) for its balance of chemical and refining businesses. The company’s net income for the nine months that ended September 30 totaled $3.58 billion, down from $3.62 billion reported for the same period of the prior year. Phillips’ refining business greatly benefited from the depressed crude oil prices in 2015, as the spread between market prices for refined petroleum products and crude oil increased substantially. The average market crude oil prices declined by more than the average market gasoline prices, resulting in stronger refining margins for the company. 33 hedgies from our database were invested in Phillips 66 at the end of the third quarter, compared with 35 at the end of the prior quarter. D.E. Shaw & Co. L.P., founded by David E. Shaw, holds a stake of 9.94 million shares in Phillips 66 (NYSE:PSX) as of the end of the third quarter.

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