Lone Pine Capital Adds to Japanese Short Portfolio


Steve Mandel’s Lone Pine Capital has not only been busy in only long positions today, but is also raising its short book in a very unusual place, Japan. Lone Pine has a 0.3% short in YAMADA DENKI CO., LTD. (TYO:9831) which is an electronics manufacturer that mainly includes home appliances. In the company’s Q2 earnings, the operating margin was down 3.4%. Yamada has merged with KOUZIRO Corporation, which was a wholly owned subsidiary, thus becoming one entity. Shares of YAMADA DENKI CO., LTD. (TYO:9831) are down 18.6% in this month, so Lone Pine is in for some action on this short play.

Lone Pine Capital filed 13G today

Lone Pine Capital also filed 13G today where it showed increased stakes in Dollar General Corp. (NYSE:DG), DSW Inc. (NYSE:DSW) and B/E Aerospace Inc(NASDAQ:BEAV), each now exceeding 5% ownership.

Lansdowne Partners shorts Pioneer Corp

Shorts in electronics manufacturers are on the rise in Japan, Lansdowne Partners initiated a new short position in Pioneer Corp (TYO:6773), which makes audio/visual products and some industrial equipments. The combined short held through Lansdowne’s Eureka Fund and European Equity Fund amounts to 0.85% of the company. Pioneer is a small cap by U.S. standards so the short is not huge but Lansdowne’s shorts are mostly well placed. The company is on the Watch Out Radar of Societe Generale as of Aug 23 and other than this there is little any analyst coverage of this company. Lansdowne is already making money on this position, shares of Pioneers have lost 10% for this month so far. Pioneer Corp (TYO:6773)’s net profit margins were down 9.3% whereas operating margin as down 7.2% in Q2.

Khrom Capital killed it during the first quarter, continuing its strong track record; here are their favorite stocks

Khrom Capital was up 32.5% gross and 24.5% net for the first quarter, outperforming the Russell 2000's 21.2% gain and the S&P 500's 6.2% increase. The fund has an annualized return of 21.6% gross and 16.5% net since inception. The total gross return since inception is 1,194%. Q1 2021 hedge fund letters, conferences and more Read More

Also see Hedge Fund Pine River Shorts Sony; Squares Off with Dan Loeb

Highbridge Capital has a short in another company in the electronics industry, EDION Corporation (TYO:2730), which is involved in the sale of consumer electronic products.

Shorts in Sawai Pharmaceutical

Linden Capital and IMAP Everest are betting against SAWAI PHARMACEUTICAL CO., LTD. (TYO:4555). Linden has a 0.68% short whereas IMAP Everst’s short position equals 0.26% of outstanding shares. In the quarter ending on June 30, Sawai reported a 26.6% increase in operating margins whereas profit margin were up 17.2%. Shares of Sawai are 4.43% in August so far.

U.S. based Light Street Capital Management disclosed new shorts in 0.27% of COOKPAD Inc (TYO:2193), a recipe contribution platform.

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