MHR Fund Management LLC on Friday disclosed that it holds a 13.6% stake in Navistar International Cop. (NYSE: NAV), which makes it the largest NAV shareholder, and puts it ahead of Carl Icahn, who has a 11.9% stake in the company.
Continue reading MHR Fund Becomes Largest Shareholder in Navistar (NAV)
A recent survey from Citi Prime Finance showed that assets invested with hedge funds could more than double by 2016. Citi Prime Finance noted that more and more pension funds, endowments, and other institutional investors are parking their money in hedge funds.
Continue reading Top Hedge Fund Buys – SAC Capital, Eminence, Bridgewater
Orbimed Advisors, the world’s largest healthcare investment firm, is bullish on Watson Pharmaceuticals Inc. (NYSE: WPI). In a filing, Orbimed said that it added $24 million worth of WPI stock in the first quarter to its $85 million prior quarter position.
Continue reading Orbimed Advisors Bullish on Watson Pharmaceuticals (WPI)
At the Ira Sohn charity conference, David Einhorn revealed his longs and shorts. We were privileged to be part of the conference. Below is a quick rundown of his presentation:
1. Short Martin Marietta Materials. Says stock is overvalued and benefitted from a one-time national fiscal stimulus. Stock is down 8% after the comments.
2. Long GJF, a stock in Norway. It has a p/e of 9 and a dividend yield of 7% .
3. Social Media Stocks. He would buy Japanese social media networks which sport single digit p/e ‘s, much lower than Facebook.
4. Long Apple. Hedge funds own only 5% of Apple. They are underweight Apple compared to the S&P 500. He thinks Apple can exceed 1 trillion dollar market cap because most Apple customers want more Apple products. Apple monetizes its value through repeated, recurring sales, and should have a higher multiple. It does not have piracy problems in China as in Microsoft (there are tons of knock-offs in China. An entire Apple store clone was built in China).
David Einhorn’s Greenlight Capital recently disclosed in a 13G filing that it had 1.68 million share position in Oaktree Capital Group LLC (NYSE: OAK), a global investment management firm focused in alternative markets. Greenlight Capital, which is a long-short value-oriented hedge fund, now has a 5.5% stake in OAK.
Continue reading David Einhorn’s Greenlight Capital Builds a Large Position in Oaktree Capital (OAK)
Shares of Netflix Inc. (NASDAQ: NFLX), an Internet subscription service streaming television shows and movies, tumbled on Tuesday after the company gave a disappointing forecast for subscribers to its U.S. streaming business. But, Whitney Tilson of T2 Partners saw the sell-off as a great opportunity to buy more NFLX shares.
Continue reading Whitney Tilson’s T2 Partners Adds to its Netflix Holdings (NFLX)