Glenview Capital Trims Brookdale Senior Living Stake

Larry Robbins' Glenview Capital now owns 9.59% of Brookdale Senior Living (BKD) with over 17.63 million shares, per a 13G recently filed with the SEC.  This marks a slight decrease from the 18.43 million shares they owned at the end of the second quarter.  The filing was made due to portfolio activity on October 30th.

Per Yahoo Finance, Brookdale "owns and operates senior living communities in the United States. It operates through five segments: Independent Living, Assisted Living and Memory Care, CCRCs, Health Care Services, and Management Services."

Baupost Group Increases Translate Bio Stake

Seth Klarman's investment firm Baupost Group has filed a 13G with the SEC regarding its position in Translate Bio (TBIO).  Per the filing, Baupost now owns 24.06% of the company with over 12.27 million shares as of August 31st.  This is up from the 8.84 million shares they disclosed as of the end of June.

Per Yahoo Finance, Translate Bio is "a clinical-stage messenger RNA (mRNA) therapeutics company, develops medicines to treat diseases caused by protein or gene dysfunction. The company is developing MRT5005, which is in Phase I/II clinical trial for the treatment of cystic fibrosis; and MRT5201 to treat ornithine transcarbamylase deficiency. It has a collaboration and license agreement with Sanofi Pasteur Inc. to develop mRNA vaccines for up to five infectious disease pathogens. The company was formerly known as RaNA Therapeutics, Inc. and changed its name to Translate Bio, Inc. in June 2017. Translate Bio, Inc. was founded in 2011 and is headquartered in Lexington, Massachusetts."

Farallon Capital Shows DermTech Stake

Andrew Spokes' hedge fund firm Farallon Capital has filed a 13G with the SEC regarding shares of DermTech (DMTK).  Per the filing, Farallon now owns 9.8% of DermTech as of August 29th with exposure to over 1.23 million shares. 

Their stake is comprised of 615,385 shares and they also hold "Series A Preferred Shares (as defined in the Preliminary Note) convertible into an aggregate of 615,385 shares."

DermTech shares have been extremely volatile, plummeting from $21.69 in late August to around $5 by the end of the month.

Per Yahoo Finance, DermTech is "a molecular genomics company, develops and markets novel non-invasive diagnostic tests to diagnosis skin cancer and related conditions in the United States. The company offers Pigmented Lesion Assay (PLA), a gene expression test that helps rule out melanoma and the need for a surgical biopsy of atypical pigmented lesions. It also provides Nevome test, an adjunctive reflex test for the PLA; and adhesive skin sample collection kits, as well as gene expression assays for the Th1, Th2, IFN-gamma, and Th17 inflammatory pathways. The company sells its products to pathology and oncology practitioners. DermTech, Inc. was incorporated in 1995 and is headquartered in La Jolla, California."

TCI Fund Boosts Canadian Pacific Railway Stake

Sir Chris Hohn's TCI Fund management has filed an amended 13G with the SEC regarding its position in Canadian Pacific Railway (CP).  Per the filing, TCI Fund now owns 7.62% of the company with over 10.56 million shares as of August 23rd. 

This is up from the previous 10.15 million shares they owned at the end of June.  TCI has bought CP shares for seven consecutive quarters and their stake is now worth almost $2.5 billion.  They originally initiated the position in the first quarter of 2018.

It should also be noted that Hohn's firm also owns stakes in other railroads, such as Canadian National (CNI ~ $1.75 billion worth) and Union Pacific (UNP ~ $800 million worth), but their stake in CP is the most sizable.

Per Yahoo Finance, Canadian Pacific Railway "owns and operates a transcontinental freight railway in Canada and the United States. The company transports bulk commodities, including grain, coal, potash, fertilizers, and sulphur; and merchandise freight, such as energy, chemicals and plastics, metals, minerals and consumer, automotive, and forest products. It also transports intermodal traffic comprising retail goods in overseas containers. The company offers rail and intermodal transportation services through a network of approximately 12,500 miles serving business centers in Quebec and British Columbia, Canada; and the United States Northeast and Midwest regions. Canadian Pacific Railway Limited was founded in 1881 and is headquartered in Calgary, Canada."

Lone Pine Capital Adds To Dominos Pizza Stake

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding its stake in Dominos Pizza (DPZ).  Per the filing, Lone Pine now owns 5% of Dominos Pizza with over 2.07 million shares as of August 20th. 

This is up from the 1.24 million shares Lone Pine disclosed at the end of June when they established a new stake in the company.  DPZ shares have fallen from a high of $285 at the end of Q2 to recent lows around $226.

As a reminder, Steve Mandel stepped down from day-to-day management of the portfolio and handed those duties off to managers Dave Craver, Mala Gaonkar, and Kelly Granat (though others are also now listed on the SEC filings).

Per Yahoo Finance, Dominos Pizza "through its subsidiaries, operates as a pizza delivery company in the United States and internationally. It operates in three segments: U.S. Stores, International Franchise, and Supply Chain. The company offers pizzas under the Domino's brand name through company-owned and franchised stores. As of August 20, 2019, it operated through approximately 16,300 stores in 85 markets. The company was founded in 1960 and is headquartered in Ann Arbor, Michigan."

Viking Global Starts Position in Berry Global Group

Per a 13G filed with the SEC, Andreas Halvorsen's hedge fund firm Viking Global now owns 5.5% of Berry Global Group (BERY) with over 7.19 million shares.

This is a newly disclosed position for the firm as they did not own any shares as of the end of the second quarter.

The filing was made due to portfolio activity on October 12th.  Berry Global was previously known as Berry Plastics.

Per Yahoo Finance, Berry Global "manufactures and distributes engineered materials, nonwoven specialty materials, and consumer packaging products. The company operates through three segments: Engineered Materials; Health, Hygiene & Specialties; and Consumer Packaging. It offers engineered materials, including stretch and shrink films, and converter films; trash-can liners and food bags; cloth and foil, splicing and laminating, flame-retardant, vinyl-coated and carton sealing, electrical, double-faced cloth, masking, mounting, OEM, and medical and specialty tapes; and food and consumer films, retail bags, and polyvinyl chloride films. The company also provides components for baby diapers and other absorbent hygiene products, feminine hygiene products, medical garment materials, substrates for dryer sheets, household cleaning wipes, filters, protective house wraps, and specialty agriculture and industrial products; components for adult incontinence, surgical drapes, face masks, corrosion protection, cable wrap, geosynthetics, and specialty filtration products; and a range of products for baby care, infection prevention, and food and household packaging. In addition, it offers containers; foodservice products, such as thermoformed polypropylene and injection-molded plastic drink cups and lids; closures and over caps comprising continuous-thread and child-resistant closures, as well as aerosol over caps; bottle and prescription containers; and extruded and laminate tubes"

Bruce Berkowitz Reduces Sears Position

Bruce Berkowitz's Fairholme Capital has filed a 13G with the SEC regarding its position in Sears Holdings (SHLD).  Per the filing, Fairholme now owns 4.2% of the company with over 4.57 million shares.

This is a sizable decrease from the previous 17.42 million shares Fairholme reported owning at the end of the second quarter.  The most recent filing was due to portfolio activity on October 15th. 

Sears recently filed for bankruptcy and Berkowitz has ridden this investment all the way down, making it one of his biggest mistakes.

Cat Rock Capital Increases SharpSpring Position

Alexander Captain's hedge fund firm Cat Rock Capital has filed an amended 13G with the SEC regarding its stake in SharpSpring (SHSP).  Per the filing, Cat Rock now owns 15.01% of the company with over 1.22 million shares.

This is up from the 936,935 shares they reported as of July 16th in their previous 13G filing.  The newly amended 13G was made due to activity on September 24th.   Prior to founding Cat Rock, Captain worked at Tiger Global.

Per Yahoo Finance, SharpSpring is "operates as a cloud-based marketing technology company worldwide. The company offers SharpSpring, a marketing automation solution for small and mid-size businesses. It markets and sells its products and services through sales teams and third party resellers. The company was formerly known as SMTP, Inc. and changed its name to SharpSpring, Inc. in December 2015. SharpSpring, Inc. was incorporated in 1998 and is headquartered in Gainesville, Florida."

Tiger Global Buys More Sunrun

Chase Coleman's hedge fund firm Tiger Global has filed a Form 4 with the SEC regarding its position in Sunrun (RUN).  Per the filing, Tiger Global now owns over 15.23 million shares.

They purchased RUN shares on October 9th, 10th, and 11th at weighted average prices of $11.1267, $11.9614, and $11.9757.  In total, they bought 231,357 shares.

As we've detailed previously, Tiger Global has increased its stake over the course of the year.

Per Yahoo Finance, Sunrun "engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing. Sunrun Inc. was founded in 2007 and is headquartered in San Francisco, California."

Lone Pine Capital Increases Wynn Resorts Stake

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding its position in Wynn Resorts (WYNN).  Per the filing, Lone Pine now owns 5.4% of the company with over 5.95 million shares.

This is up from the 3.79 million shares they owned at the end of the second quarter of this year. The filing was made due to portfolio activity on September 10th.

Wynn Resorts owns, operates, and develops casino resorts, primarily in Las Vegas, Nevada and in Macau.

PointState Capital Boosts Stake in The Medicines Company

Zach Schreiber's hedge fund firm PointState Capital has filed a 13G with the SEC regarding its position in The Medicines Co (MDCO).  Per the filing, PointState now owns 5.3% of the company with over 3.87 million shares.

This is up from the 3.7 million shares they owned at the end of the first quarter.  The filing was made due to portfolio activity on June 1st.

Per Yahoo Finance, The Medicines Company is "a biopharmaceutical company, provides medicines to treat acute and intensive care patients. The company markets Angiomax, an intravenous direct thrombin inhibitor used as an anticoagulant in combination with aspirin in patients with unstable angina undergoing percutaneous transluminal coronary angioplasty, and for patients undergoing percutaneous coronary intervention in the United States. It primarily focuses on developing Inclisiran, a lipid-lowering drug to reduce LDL-cholesterol (LDL-C) in patients with atherosclerotic cardiovascular disease or cardiovascular risk-equivalents. The company has collaboration agreements with Alnylam Pharmaceuticals, Inc.; SciClone Pharmaceuticals; and Symbio Pharmaceuticals Limited. The Medicines Company was founded in 1996 and is based in Parsippany, New Jersey."

Baupost Group Sells PBF Energy, FIles 13G on Colony NorthStar

Seth Klarman's hedge fund firm Baupost Group has filed a couple of 13G's with the SEC regarding shares of both PBF Energy (PBF) and Colony NorthStar (CLNS).


Baupost Sells PBF Energy

Per a 13G filing, Baupost Group no longer owns shares of PBF Energy (PBF).  The filing notes they sold the stake on May 31st.  They had previously owned a $268 million stake in the company as of the end of the first quarter.

Per Yahoo Finance, PBF Energy is "together with its subsidiaries, engages in the refining and supply of petroleum products. The company operates through two segments, Refining and Logistics. It produces gasoline, ultra-low-sulfur diesel, heating oil, diesel fuel, jet fuel, lubricants, petrochemicals, and asphalt, as well as unbranded transportation fuels, petrochemical feedstocks, blending components, and other petroleum products. The company sells its products in Northeast, Midwest, Gulf Coast, and West Coast of the United State, as well as in other regions of the United States and Canada. It also offers various rail, truck, and marine terminaling services, as well as pipeline transportation and storage services. PBF Energy Inc. was founded in 2008 and is based in Parsippany, New Jersey."


Baupost Files 13G on Colony NorthStar

Per a separate 13G, Baupost also now shows a 10.02% ownership stake in Colony NorthStar (CLNS) with over 49.68 million shares.  The number of shares they own is unchanged from the end of the first quarter, and so the percentage ownership of the company is likely what triggered the filing.

Per Yahoo Finance, Colony NorthStar, Inc. (NYSE:CLNS) "is a leading global real estate and investment management firm. The Company resulted from the January 2017 merger between Colony Capital, Inc., NorthStar Asset Management Group Inc. and NorthStar Realty Finance Corp. The Company has significant property holdings in the healthcare, industrial and hospitality sectors, other equity and debt investments and an embedded institutional and retail investment management business. The Company currently has assets under management of $43 billion and manages capital on behalf of its stockholders, as well as institutional and retail investors in private funds, non-traded and traded real estate investment trusts and registered investment companies. In addition, the Company owns NorthStar Securities, LLC, a captive broker-dealer platform which raises capital in the retail market. The firm maintains principal offices in Los Angeles and New York, with more than 500 employees in offices located across 18 cities in ten countries. The Company will elect to be taxed as a REIT for U.S. federal income tax purposes. For additional information regarding the Company and its management and business, please refer to www.clns.com."

Tiger Global Boosts Sunrun Stake Again

In another slew of SEC filings, Chase Coleman's hedge fund firm Tiger Global has disclosed a further increased stake in Sunrun (RUN).  Per a 13G filing, Tiger now owns 12.8% of the company with over 13.93 million shares.

This is up from the 11.67 million shares we highlighted they owned just a few weeks ago.  A separate Form 4 filed indicates they were buying RUN shares on June 5th through 7th at weighted average prices of $12.3736 and $12.4824.

Per Yahoo Finance, Sunrun "engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing. Sunrun Inc. was founded in 2007 and is headquartered in San Francisco, California."

Tiger Global Increases Sunrun Position

Chase Coleman's hedge fund firm Tiger Global has filed a 13G with the SEC regarding its stake in Sunrun (RUN).  Per the filing, Tiger Global now owns 10.7% of the company with over 11.67 million shares.  This is up significantly from the 5.74 million shares they disclosed back at the end of the first quarter.

An additional Form 4 filed with the SEC shows Tiger was buying RUN shares on May 25th, 29th, and 30th.  In total, they bought 776,138 shares at weighted average prices from $10.71 to $11.50.  The filing also notes the securities are held by advisory clients of Tiger Global.

Per Yahoo Finance, Sunrun "engages in the design, development, installation, sale, ownership, and maintenance of residential solar energy systems in the United States. It also sells solar leads. The company markets and sells its products through direct channels, partner channels, mass media, digital media, canvassing, referral, retail, and field marketing. Sunrun Inc. was founded in 2007 and is headquartered in San Francisco, California."

Lone Pine Capital Boosts IQVIA Stake

Steve Mandel's hedge fund firm Lone Pine Capital has filed a 13G with the SEC regarding its stake in IQVIA (IQV).  Per the filing, Lone Pine now owns 5% of the company with over 10.45 million shares.

This is an increase over the 9.89 million shares they owned at the end of the first quarter, per their most recent 13F filing.  The most recent trading activity was on May 16th.  To see the rest of Lone Pine's portfolio, check out the brand new issue of our quarterly newsletter.

Per Yahoo Finance, IQVia is "IQVIA Holdings Inc. provides integrated information and technology-enabled healthcare services in the Americas, Europe, Africa, and the Asia-Pacific. It operates through three segments: Commercial Solutions, Research & Development Solutions, and Integrated Engagement Services."

Whale Rock Capital Adds To MongoDB Stake

Alex Sacerdote's hedge fund firm Whale Rock Capital has filed a 13G with the SEC regarding its stake in MongoDB (MDB).  Per the filing, Whale Rock now owns 16.05% of the company with over 3.83 million shares. 

This is way up from the 556,862 shares they owned at the end of the first quarter. 

They originally disclosed the increased position in a separate 13G filing due to activity in late April, showing a 5.83% ownership stake. The most recent filing was made due to activity on May 24th, showing they've further upped their stake to now 16.05% of the company.

Per Yahoo Finance, MongoDB "operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB. It also provides professional services, such as consulting and training. The company was formerly known as 10gen, Inc. and changed its name to MongoDB, Inc. in August 2013"

Eminence Capital Boosts Formula One Position

Ricky Sandler's hedge fund firm Eminence Capital has filed a 13G with the SEC regarding shares of Formula One (FWONK).  Per the filing, Eminence now owns 5.4% of the company with over 10.86 million shares. 

This is up from the 8.58 million shares they owned at the end of 2017.  The filing was made due to activity on March 19th.

Per Liberty Media's site, Formula One is "an iconic global motorsports business."

We've also highlighted another stock that Eminence Capital has been buying recently.

Fairholme Capital Reduces Seritage Growth Properties Position

Bruce Berkowitz's Fairholme Capital has filed an amended 13G regarding its position in Seritage Growth Properties (SRG).  Per the filing, Fairholme now owns 4.9% of the company with 1.69 million shares.

The filing was made due to activity on March 16th.  This is down from the previous 3.27 million shares Fairholme owned at the end of 2017.

Per the company's website, Seritage is "a publicly traded, self-administered, self-managed REIT with a portfolio of 235 wholly-owned properties and 31 joint venture properties, consisting of approximately 42 million square feet of building space."

Glenview Capital Boosts Newell Brands Exposure

Larry Robbins' hedge fund firm Glenview Capital has ratcheted up its exposure to Newell Brands (NWL).  Per a 13G filed with the SEC, Glenview now shows a 5.56% ownership stake with over 26.96 million shares. 

The filing was made due to portfolio activity on March 16th.  This is up from the 17 million shares they owned at the end of 2017. 

As we've highlighted previously, activist investor Starboard Value is involved in Newell shares and it's recently been revealed that Carl Icahn owns NWL as well. 

Eminence Capital Increases Papa John's Pizza Position

Ricky Sandler's hedge fund firm Eminence Capital has filed a 13G with the SEC regarding shares of Papa John's Pizza (PZZA).  Per the filing, Eminence now owns 6.5% of the company with over 2.19 million shares. 

The filing was made due to portfolio activity on February 28th.  This means they've increased their position size up from the 568,026 shares they owned at the end of 2017.

Per Google Finance, Papa John's Pizza is "operates and franchises pizza delivery and carryout restaurants and, in certain international markets, dine-in and delivery restaurants under the trademark Papa John's. The Company operates through five segments: domestic Company-owned restaurants, North America commissaries, North America franchising, international operations and all other business units. North America is defined as the United States and Canada. Domestic is defined as the contiguous United States. International franchisees are defined as all franchise operations outside of the United States and Canada. As of December 25, 2016, there were 5,097 Papa John's restaurants in operation, consisting of 744 Company-owned and 4,353 franchised restaurants operating domestically in all 50 states and in 45 countries and territories. It offers pizza along with side items, including breadsticks, cheesesticks, chicken poppers and wings, dessert items and canned or bottled beverages. "