Still combing through 13Fs, building quarter activist newsletters, but more insights below.
Precision Castparts got a lot of attention from big name investors. This includes SQ, Soroban Capital, 3G, Tyrus, Farallon, Weitz Investment, Berkshire, Third Point and Eminence.
Kyle Bass at Hayman Capital traded out mortgage servicers for oil and gas names; selling off Nationstar Mortgage and Ocwen Financial and adding Concho Resources, Whiting Petroleum and Oasis Petroleum.
Ironically enough, Jeff Smith at Starboard Value dumped all his AOL shares before the buyout. Although he’d already dumped most of that AOL stake during the fourth quarter he still owned a couple thousand shares that he sold off last quarter. A couple new positions for Starboard Value were Bank of New York Mellon – which is a Marcato Capital and Nelson Peltz target – and Tempur Pedic – which just lost a proxy battle to H Partners.
David Winters at Wintergreen Advisors started blowing out of Coca-Cola after many years of trying to change compensation practices.
David Einhorn’s Greenlight Capital took a major stake in General Motors, putting it in its top five. Greenlight noted this position in its letter.