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This Week’s 6 Most Important Hedge Fund Moves

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. 6: Paul Singer revealed a massive activist stake in Riverbed Technology, Inc. (NASDAQ:RVBD), worth 9.0% of the company when options are included in the calculation.

No. 5: Ricky Sandler and Eminence Capital went activist on The Men’s Wearhouse, Inc. (NYSE:MW) with a stake of 9.8%, and attempted to give the company a lesson in M&A 101.

No. 4Peter 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.

Peter Kolchinsky

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.

Disclosure: none

Recommended Reading:

Why is John Burbank Buying the ‘Craigslist of China’?

Hedge Fund News: Ken Griffin’s Retail Moves, Marc Faber & Darren Read

Paul Singer Reveals a Massive Activist Stake in Riverbed Technology