Highfields Capital Acquires a 5.8% Stake in Liberty Ventures

Highfields Capital Acquires a 5.8% Stake in Liberty Ventures
Image source: Pixabay

Highfields Capital, a hedge fund with well over $7 billion under management, has just reported a 5.8% stake in Liberty Ventures (LVNTA), according to a 13G filed with the Securities and Exchange Commission. The position is a new one for Highlands Capital. The hedge fund purchased 1,482,738 shares of Liberty Interactive Corporation – Series A Liberty Ventures (NASDAQ:LVNTA)

Highfields Capital Acquires a 5.8% Stake in Liberty Ventures

The hedge fund is managed by Jonathon Jacobson’s. Liberty Interactive Corporation – Series A Liberty Ventures (NASDAQ:LVNTA) has a market cap of approximately $1.8B, which would value Highfields’s stake at slightly over $100 million.

Investing in the Next Generation of Emerging and Frontier Markets with Maurits Pot

Yarra Square Investing Greenhaven Road CapitalValueWalk's Raul Panganiban with Maurits Pot, Founder and CEO of Dawn Global. Before this he was Partner at Kingsway Capital, a frontier market specialist with over 2 billion AUM. In the interview, we discuss his approach to investing and why investors should look into frontier and emerging markets. Q2 2021 hedge fund letters, conferences and Read More

Market Folly just posted an article on the filing and notes an interesting point/question:

It’s unclear if Highfields acquired some of their LVNTA shares via the LINTA spin or not.  Highfields did not disclose a LINTA stake at the end of Q2 in their most recent 13F filing, but they could have easily purchased shares before the split.  The hedge fund could have just as easily purchased their entire stake once LVNTA started trading.

We do not know the answer to the question either. John Malone’s Liberty Media is famous for its complex spin-offs. The company has spun off several divisions over the past few years.

Liberty Interactive Corporation (Liberty), formerly Liberty Media Corporation, owns interests in subsidiaries and other companies which are primarily engaged in the video and on-line commerce industries.

For the six months ended 30 June 2012, Liberty Interactive Corp revenues increased 6% to $4.68B. Net income before extraordinary items increased 38% to $325M. Revenues reflect Expedia, Inc segment increase of 13% to $1.86B, QVC segment increase of 5% to $3.91B, E – Commerce segment increase of 15% to $773M. Net income benefited from QVC segment income increase of 10% to $559M, Corporate & Other segment loss decrease of 22% to $25M.

Full Disclosure: No position in any securities mentioned

No posts to display