market folly

Lee Ainslie's hedge fund Maverick Capital has disclosed a new holding in London listed Pets at Home Group (LON:PETS).  Due to trading on July 29th, Maverick now own the equivalent of 3.14% of voting rights, all via a total return swap.

Pets at Home was floated in March at 245p per share.  It looks as though Maverick might have bought their shares somewhere around 175p.

To see what else Maverick has been buying, check out our just released Hedge Fund Wisdom newsletter.

Per Google Finance, Pets at Home is "a specialist retailer of pet food, pet-related products and pet accessories. The Company also operates a small animal veterinary business by combined number of surgeries both in its stores and at standalone sites and is a joint venture operator in the market. The Company is an operator by number of salons of pet grooming services offered through Pets at Home’s in store salons. The Company’s product range consists of two product groups: pet food and pet accessories, which are complemented by services, including veterinary services (both in stores and on a standalone basis) and in store Groom Room grooming services. In addition, the Company also offers pet insurance, advanced nutrition food consultation, acquaria water testing, microchipping services and dental checks, which complement the services offered by its veterinary surgeries and Groom Room grooming salons."