market folly

Steve Cohen's hedge fund firm SAC Capital filed a 13G with the SEC regarding their position in Marriott Vacations Worldwide (VAC). In it, they reveal a 5.6% ownership stake in the company with 1,887,284 shares.

This marks over an 11,000% increase in their position size since the end of 2011 as they only owned 16,779 shares back then. The disclosure was required due to portfolio activity on March 9th.

Other notable institutional owners of VAC as of 2011 year-end include Highside Capital, Corsair Capital, JANA Partners, and Catapult Capital.

Shares of VAC came into existence via a spin-off from Marriott International (MAR) on November 21st, 2011.

Per Google Finance, Marriott Vacations Worldwide "along with its subsidiaries, is the worldwide developer, marketer, seller and manager of vacation ownership and related products under the Marriott Vacation Club and Grand Residences by Marriott brands. The Company is also the global developer, marketer and seller of vacation ownership and related products under the Ritz-Carlton Destination Club brand, and it has the right to develop, market and sell whole ownership residential products under the Ritz-Carlton Residences brand."