Some notable buys and sells per 4Q 13Fs from some top hedge funds.
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Starboard Value
ADDITIONS: Nearly doubled its Baxter (BAX) position – also a Third Point activist target. It’s now Starboard’s 11th largest holding and owns 0.4%.
NEW: They also showed the new stake in the Darden Restaurants (DRI) spinoff REIT, Four Corners Property Trust (FCPT) – 10th largest holding.
Very small new positions in New York REIT (NYT), Cigna (CI) and Synders-Lance (LNCE) – 20th, 22nd and 23rd largest holdings, respectively.
REDUCTIONS: Sold out of 24% of its WestRock (WRK) stake and dumped close to 90% of its Office Depot (ODP) shares. ODP now 16th largest holding, down from 5th.
Third Point
ADDITIONS: Added 50% to its Allergan (AGN) position, now 2nd largest holding.
NEW: Very small stake in Morgan Stanely (MS).
REDUCTIONS: Sold most of its Yum! (YUM) was 4th largest holding, sold most of Kraft (KHC) was 5th, and sold all of T-Mobile (TMUS) was 8th.
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Some notable buys and sells per 4Q 13Fs from some top hedge funds.
Join our free newsletter for some exclusive info we don’t share elsewhere.
Blue Ridge Capital
ADDITIONS: Added 22% to its Allergan (AGN) and 44% to its AutoDesk (ADSK) positions, now 1st and 2nd largest holdings. Also added 43% to Google (GOOG) – 11th largest.
NEW: New stake in Teva Pharma (TEVA) – 12th largest holding.
REDUCTIONS: Sold off 50% of its Endo International (ENDP) shares – was 8th largest holding. Also dumped 44% of its Sirius (SIRI) stake – was 16th.
Weitz Investment Management
ADDITIONS: Slight 17% increase in Range Resources (RRC) position, puts it to 13th largest holding. Also very small increases in Fossil (FOSL) and Fox (FOXA).
NEW: New Colfax (CFX) position and owns 1.6% of the co. Also added very small positions in Comcast (CMCSA) and Amazon (AMZN).
REDUCTIONS: Dumped all its Valeant Pharma (VRX) stake – was 5th largest holding. Also sold off ~20% in other top 20 positions – Google (GOOG), Discovery (DISCA) and Motorola (MSI).
13F Season is here. Get the upcoming major activist quarterly newsletter today + past issues. Subscribe here.
