Early Insights From 13F Day: Qualcomm, Yum, Pioneer Natural by Stock Pucker
It’s here, 13F day that is; in working up the suite of activist investor focused newsletters to go out in a few days, it’s hard not to get distracted by the various other 13Fs from value investors like Seth Klarman coming across the wire. If you want to get a look at last quarter’s major activist newsletter, drop us a line, but here are some things that have caught my eye thus far…
- There’s a Seth Klarman vs. David Einhorn battle brewing. Einhorn pitched a “short the frackers” thesis at Sohn last week. His main target was the mother fracker, Pioneer Natural Resources. Klarman revealed that he has it as a top 5 position.
- Dan Loeb and Third Point blew out of their Alibaba position, which was a top 4 position that it had just initiated last quarter. We got to see just how big his Yum! ($YUM) position was, and it’s not all that huge – coming in at its 14th largest position. Recall, Loeb and Corvex have talked about Yum over the last few weeks – Corvex wants to split it up.
- We got to see just how big a position Qualcomm is for JANA Partners and as expected, it’s the fund’s top equity holdings. Although, JANA did quadruple its put position on the SPY.
Carlson Capital's Double Black Diamond Fund returned 85 basis points net in August, bringing its year-to-date net return to 4.51%. According to a copy of the fund's September update, which ValueWalk has been able to review, its equity relative value and event-driven strategies outperformed during the month, contributing 131 basis points to overall P&L. Double Read More