Large investors in the second quarter, “turned away” from General Motors, and the hedge fund titans such as Dan Lab, rushed to buy shares of Ally Financial, the former finance unit once bankrupt automaker, which received emergency assistance from the state.
Hedge funds also increased their share of the pharmaceutical company Allergan Inc, Google, The Williams Companies and DirecTV, whereas, in contrast, sold shares eBay, SLM Corp., Vodafone and Dollar General, according to the portal Whalewisdom.com.
Managing institutional investment of more than $ 100 million in various types of assets, must submit a report to the Commission on 13F with the Securities and Exchange Commission not later than 45 days after the end of the quarter. The deadline for submission has expired on Thursday, and the portal Whalewisdom were placed all the basic data of purchases and sales of 600-ta investors.
One of the most ardent supporters of Ally, a hedge fund Third Point Dan Łeba purchased 45.6 million shares for the second quarter, making it the second largest owner of the company, which accounted for 13.4% of its total portfolio, valued at $ 1.09 billion at the end of the quarter.
Colleague Łeba, another titan of hedge funds, John Paulson also supported Ally, though on a smaller scale, buying more than 2 million shares, worth about $ 48 million. Stephen Feinberg, head of Cerberus Capital Management has raised its stake in Ally almost to the extent of Łeba acquiring 41.5 million shares, worth about $ 993 million at quarter end.
Company Ally Financial assistance received from the Government of the United States, when the bankrupt during the financial crisis. It held its first public offering on April 10, was rescued from the sale of about $ 2.4 billion ($ 25 per share). Soon, the offer price on Friday and fell to $ 24.13. Since the beginning of the quarter the company’s shares lost 0.2%. 13F today’s report does not give a clear picture of the positions of investors, in addition to these data are already at least 45 days.
Large investors have made a large number of transactions in the second quarter of the shares Allergan, a pharmaceutical company, which is now opposed to the absorption of its rival Valeant Pharmaceuticals.
This absorption was due to the actions of activist Bill Ackman, whose hedge fund Pershing Square recently added 28.3 million shares to its share of Allergan for the quarter, which is estimated at $ 4.9 billion.
Other activist investors also bought shares of the company, in particular, Paulson bought 5.6 million shares. Shares of Allergan rose by 41.3% since the beginning of the year, but with a 30-gyu June lost 7.3%.
It should also be noted that the hedge fund legend George Soros boosted short positions in the SPDR S & P 500 ETF using put options. This move caused him puzzled analysts and let them know that Soros is concerned about something.
Meanwhile, 5.7% of investors completely sold out their positions on eBay, dropping approximately 14.7 million shares. Billionaire Carl Icahn in April withdrew the requirement for separation of PayPal, eBay.
Despite this, Icahn bought 3 million shares of eBay in the second quarter, as the report shows. EBay shares gained 5.3% since the beginning of the third quarter, cutting their losses to 4% for the year.
5% of all large investors dumped shares of General Motors, on the background of the many comments and concerns about the safety of its vehicles.