Republic Services Inc. (RSG), Tembec Inc (USA) (TMBCF), Standard Register Co (SR): Hedge Funds’ Activity Highlights

As we continue to track hedge fund activity, I came across three interesting transactions that took place lately. Some companies that saw hedge fund action are: Tembec Inc (USA) (OTCMKTS:TMBCF), Republic Services Inc. (NYSE:RSG) and Standard Register Co (NYSE:SR). Let’s take a closer look at these transactions.

Howard Marks’ Oaktree Capital Management started a position in Tembec Inc (USA) (OTCMKTS:TMBCF), a $300 million market-cap Canadian integrated forest products producer with operations in North America and France. On September 12, the fund disclosed beneficial ownership of 6.13 million shares, which account for 6.1% of the company’s outstanding Common Stock.

According to available data, Oaktree Capital Management is the only hedge fund investing in Tembec Inc (USA) (OTCMKTS:TMBCF).


Bill Gates’ Cascade Investment LLC continued to acquire Republic Services Inc. (NYSE:RSG)’s stock. According to its latest Form 4, filed on September 12, following several new purchases that took place between September 5 and September 10, the fund owns roughly 102.49 million shares of Common Stock. This implies a boost in relation to the ownership of 102.38 million shares, which we last reported a few days ago.

This last round of acquisitions was made at prices ranging from $39.00 per share to $39.20 per share. Cascade Investments LLC now owns more than $4 billion in Republic Services Inc. (NYSE:RSG)’s stock, which account for approximately 29% of the company’s common shares outstanding.

Other major hedge funds betting on Republic Services, Inc. (NYSE:RSG) are Bill and Melinda Gates Foundation Trust, which last disclosed ownership of 1.35 million shares; Mario Gabelli‘s GAMCO Investors, which last acknowledged holding 2.86 million shares of the company, worth more than $100 million; and Israel Englander’s Millennium Management, which, after boosting its stake by 611, owns more than half a million shares.

Finally, Edward A. Mule’s Silver Point Capital disclosed the sale of 12,000 shares of Standard Register Co (NYSE:SR)’s Common Stock, for prices ranging from $5.72 per share, to $5.93 per share. Following this transaction, the fund owns approximately 1.76 million shares of the company’s Common Stock, worth more than $9.6 million at current stock prices.

Despite this sale the amount of shares owned is larger than the one declared in the fund’s latest 13F filing. According to this document, Silver Point Capital held 1.62 million shares of Standard Register Co (NYSE:SR) by the end of the second quarter. This position already made it the largest hedge fund shareholder of record, amongst those we track, trailed by William C. Martin’s Raging Capital Management, which last disclosed ownership of 1.08 million shares, worth more than $6 million.

Standard Register Co (NYSE:SR) is a $50 million market cap company engaged in the management and execution of critical communications in the United States.

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