This is a brand new position for the fund as they did not disclose owning any shares in their last 13F filed with the SEC which detailed positions at the end of the fourth quarter. Their new disclosure was required due to portfolio activity on April 11th.
Post Holdings was created as a result of a spin-off from Ralcorp Holdings (RAH), which took place at the beginning of 2012 and shares have rallied furiously since then, almost doubling from $24 to current prices just shy of $44.
Other Funds Involved in POST
Parsing through 13F filings from Q4, we see that while a large portion of POST's top holders are 'vanilla' institutional plays, a few hedge funds held Post Holdings at the end of 2012: Paulson & Co and Highfields Capital. New 13F filings are due out in the middle of May and we'll be able to see who else might have scooped up shares of POST in Q1.
About Scout Capital
Scout was founded and is co-managed by James Crichton and Adam Weiss. Before founding Scout, Crichton worked at Zweig-DiMenna and received his MBA from Harvard. Weiss, on the other hand, worked at Dan Loeb's Third Point and received his MBA from Columbia.
About Post Holdings
Per Google Finance, Post Holdings is "a manufacturer, marketer and distributor of branded ready-to-eat cereals in the United States and Canada. The Company’s portfolio of brands includes Honey Bunches of Oats, Pebbles, Great Grains, Grape-Nuts, Shredded Wheat, Raisin Bran, Golden Crisp, Alpha-Bits and Honeycomb. It markets and sells ready-to-eat cereal products in three different categories: sweetened, balanced and unsweetened. Its sweetened products include Pebbles, Honeycomb, Golden Crisp, Alpha-Bits and Waffle Crisp. Its balanced products include Honey Bunches of Oats, Post Selects, Great Grains and Shreddies. The Company’s unsweetened products include Post Shredded Wheat, Post Raisin Bran and Grape-Nuts."
For more on this hedge fund, we've highlighted some of their thoughts on their other positions.
