In a new filing with the U.S. Securities and Exchange Commission, OZ Management, a hedge fund managed by Daniel S. Och, has disclosed that it no longer holds stake in Rockwood Holdings Inc. (NYSE:ROC) as a result of the company’s merger with Albemarle Corporation (NYSE:ALB). In its previous filing, the hedge fund disclosed ownership of 4.16 million Rockwood shares. Following the completion of their acquisition, Rockwood Holdings notified the New York Stock Exchange that each issued and outstanding share of the company was canceled. As a result, the fund no longer own 5% or more of the shares.
OZ Management is a New York City-based hedge fund, which was founded by Daniel S. Och in 1994. One of the largest institutional alternative asset managers in the world, the hedge fund uses a multi-strategy, multi-geography approach. Last month, OZ Management raised its holding in Qunar Cayman Islands Limited (NASDAQ:QUNR) by more than 4.55 million shares, bringing its stake to more than 6.0 million class B ordinary shares, representing 5.39% of the company. As of January 1, 2015, the fund had about $46.0 billion in assets under management.
At the end of the third quarter of 2014, OZ Management reported upping its stake in Rockwood Holdings Inc. (NYSE:ROC) to 4.16 million shares from 2.49 million shares it held earlier. At that time, the fund stated that it acquired shares of Rockwood Holdings for investment purposes and did not intend to pursue any changes at the company.
For the third quarter, the top three holdings of OZ Management consisted of Actavis plc (NYSE:ACT), AbbVie Inc (NYSE:ABBV), and Allergan Inc. (NYSE:AGN). The fund boosted its position in Actavis by over 50% to 4.83 million shares during the third quarter. OZ Management was also bullish on AbbVie, upping its stake to 15.33 million shares. Furthermore, the fund reported an increase to its position in Allergan to 3.89 million shares of the company.