market folly

Ricky Sandler's hedge fund firm Eminence Capital filed a 13G with the SEC regarding shares of Sonic Automotive (SAH).  Per the filing, Eminence has disclosed a 5.1% ownership stake with 2,065,739 shares.

This marks an increase of 3% in the number of shares they own since the end of the second quarter.  The filing was required due to portfolio activity on September 30th.

Eminence has also held another automotive play as their top holding at the end of Q2 was Advance Auto Parts (AAP).

Per Google Finance, Sonic Automotive is "engaged in automotive retailing in the United States. The Company’s dealerships provide services, including sales of both new and used cars and light trucks; sales of replacement parts, performance of vehicle maintenance, manufacturer warranty repairs, paint and collision repair services (Fixed Operations) and arrangement of extended service contracts, financing, insurance and other aftermarket products (F&I) for its customers."

Head here for more recent activity from Eminence.