As we approach the nexus of third quarter 13F filings (next week), hedge funds have been very active in 13D and 13G land. While the big-name activists, like Carl Icahn and Bill Ackman, weren’t making any headlines, plenty of other fund managers were moving the markets. Let’s take a look at the six most important hedge fund moves of the week, in countdown fashion.
No. 4: Peter Kolchinsky (below) and his fund, Ra Capital Management, have been very active over the past month, almost exclusively in the small-cap biopharma space. His latest move was a boost of Ra’s Dynavax Technologies Corporation (NASDAQ:DVAX) holdings, now estimated to be worth 9.9% of the company’s outstanding stock.
No. 3: Cliff Asness, AQR Capital disclosed a stake in Global Defense & National Security Systems Inc (NASDAQ:GDEF) worth more than 10% of its common stock. The company went public a couple of weeks ago.
No. 2: Jeff Smith and Starboard Value, which hold 9.7% of Calgon Carbon Corporation (NYSE:CCC), reported that they’ve sent a letter to the company’s board asking for a “large” stock buyback and the conversion of its U.S. carbon assets into an MLP structure. Shapiro Capital has since joined Starboard in Calgon.
No. 1: Leon Cooperman revealed a 6.9% stake in beleaguered teen retailer dELiA*s, Inc. (NASDAQ:DLIA) on Tuesday. Shares have blown up since the news broke, and Cooperman’s presence strengthens investors’ optimism that a turnaround is possible.