The Latest Moves Made by Billionaire George Soros’ Firm and Other Hedge Funds

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A little more than a year ago, the U.S. Securities and Exchange Commission announced charges against numerous officers, directors and significant shareholders for violating federal securities laws after failing to file Form 4, 13D and 13G filings in a timely manner. This example provides evidence that the SEC keeps a close eye on these filings and attempts to enforce its deadline requirements. This is great news for individual investors who use these public filings as part of their stock picking process. Unlike 13Fs, the aforementioned filings tend to disclose fresh and up-to-date insights about hedge funds’ most prominent stances on different companies. The following article will discuss three such filings submitted with the SEC by several hedge funds monitored by Insider Monkey and the performance of the companies in question.

George Soros

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In a recent 13G filing, George SorosSoros Fund Management reported a new stake of 1.40 million shares in Hercules Offshore Inc. (OTCMKTS:HEROQ), which accounts for 7.02% of the company’s outstanding common stock. The provider of shallow-water drilling and marine services to the oil and natural gas exploration and production industry filed for Chapter 11 bankruptcy protection in August to execute a $1.2 billion debt-for-equity swap with its noteholders as part of its financial restructuring. Earlier this month, Hercules Offshore Inc. (OTCMKTS:HEROQ) announced that the financial restructuring was completed and the company emerged from Chapter 11. Under the restructuring plan implemented by the company, Hercules exchanged its outstanding senior notes for 96.9% of the company’s common stock that was issued in the reorganization and raised $450 million of first lien debt with a maturity of 4.5 years and a bearing interest at LIBOR plus 9.5% per annum. The demand for Hercules Offshore’s oilfield services is mainly driven by its customers’ capital spending. However, the low oil-price environment has substantially reduced the demand for the company’s services, so it might take a while before the company gets back on track.

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Let’s head to the next page, where we discuss two separate filings submitted by activist Sandell Asset Management and Aisling Capital.

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