Scopia Capital Dumps Entire Stake in Alere Inc. (ALR)

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As a new filing with the US Securities and Exchange Commission showed, Matt Sirovich and Jeremy Mindich‘s Scopia Capital has unloaded its entire stake in Alere Inc (NYSE:ALR). The investor previously held 6.90 million shares of the company, as revealed in Scopia’s latest 13F filing.

Among the funds we track, Alere was in 30 hedge funds’ portfolios at the end of the fourth quarter of 2015 and it registered a decrease in popularity during the quarter, as there were 39 hedge funds in our database with ALR positions at the end of September.

Of the funds tracked by Insider Monkey, Scopia Capital had the largest position in Alere Inc (NYSE:ALR) at the end of last year. Sitting at the No. 2 spot was Senator Investment Group, managed by Doug Silverman and Alexander Klabin, which amassed a $142.7 million position; 1.8% of its 13F portfolio was allocated to the stock. Remaining members of the smart money that held long positions contain David Cohen and Harold Levy’s Iridian Asset Management, Ric Dillon’s Diamond Hill Capital and William B. Gray’s Orbis Investment Management.

Because Alere Inc (NYSE:ALR) has experienced declining sentiment from the aggregate hedge fund industry, logic holds that there lies a certain “tier” of money managers who sold off their positions entirely heading into 2016. Intriguingly, Columbus Circle Investors dropped the biggest investment of all the hedgies followed by Insider Monkey, worth close to $70.3 million in stock. Anand Parekh’s fund, Alyeska Investment Group, also said goodbye to its stock, about $35.8 million worth.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Scopia Capital Management 0 0 0 0 0 0%
Scopia Management, Inc 0 0 0 0 0 0%
Matthew Sirovich 0 0 0 0 0 0%
Jeremy Mindich 0 0 0 0 0 0%

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Page 1 of 12 SEC Filing

Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Alere Inc.
(Name of Issuer)
Common Stock, $0.001 par value per share
(Title of Class of Securities)
(CUSIP Number)
February 29, 2016
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[X]      Rule 13d-1(b)
[_]      Rule 13d-1(c)
[_]      Rule 13d-1(d)
(1) The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed’ for the purpose of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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