One of the biggest names in the global hedge fund industry likes the look of Delek US Holdings. In a filing with the Securities and Exchange Commision, the managers at Citadel say they now own 5.6 percent of Brentwood-based Delek, which last month said it planned to buy nearly half of Texas-based Alon USA Energy. Chicago-based Citadel, which manages $25 billion in capital, becomes the seventh entity to hold at least 5 percent of Delek.
Shares of Delek (Ticker: DK) are up about 1 percent this morning to $35.75. So far this year, they've climbed about 30 percent.
Glenview Capital, the hedge fund that has made big bets on health care companies in recent years, appears to be a big fan of Brookdale Senior Living. The firm on Monday filed papers with the Securities and Exchange Commission to say it now owns 11.6 million Brookdale shares. That's up from 4 million shares last summer and amounts to 6.3 percent of the Brentwood-based senior care giant, whose shares (Ticker: BKD) are up about 5 percent year to date.
A major global investment firm doesn't appear too worried about the prospects for Dollar General following its failed bid for rival Family Dollar and the pending retirement of Chairman and CEO Rick Dreiling and CFO David Tehle. GIC Private, the former Government of Singapore Investment Corp., this week declared a 5.0 percent stake in Goodlettsville-based Dollar General. The sovereign wealth fund manages more than $100 billion and employs about 1,200 people worldwide. Its stake in Dollar General, which has risen about 7 percent (Ticker: DG) so far this year, is worth about $1.1 billion.
Hedge fund Lone Pine Capital this week said it has since last August trimmed its stake in Dollar General by almost 5 million shares to 12.9 million, or about 4.3 percent of the Goodlettsville-based retailer. Lone Pine last summer built up its stake in Dollar General as the takeover battle for Family Dollar took shape. Since mid-August, Dollar General (Ticker: DG) is up more than 20 percent.
Making an even more pronounced move out of Delek US Holdings late last year was Steadfast Capital Management, which last spring had doubled its stake in the parent of Mapco to 6.2 percent. The fund run by Robert Pitts Jr. had trimmed its holdings a bit over the summer to 3.1 million shares but got out altogether during the fourth quarter. Stepping in to buy more than 1.3 million of those shares was D.E. Shaw, which now owns 7.2 percent of Delek, up from 5 percent in September.
Delek shares (Ticker: DK) have risen about 5 percent over the past three months.
Two Texas investment firms have declared sizable stakes in local companies. First up, Vaughan Nelson Investment Management of Houston added to its stake in AmSurg late in 2014, finishing the year with more than 2.2 million shares, or 5.9 percent. Vaughan Nelson manages more than $6.6 billion. AmSurg shares (Ticker: AMSG) finished last week at $55.56 and have climbed 11 percent over the past three months.
Further up Interstate 45 in Dallas, Nokomis Capital filed papers to say it now owns almost 1.2 million shares, or 6.8 percent, of home goods retailer Kirkland's. The hedge fund, which was launched in 2008, manages almost $400 million. Kirkland's has been on a good sales and profits run of late, with its shares (Ticker: KIRK) having climbed 35 percent over the past three months.
Brooke Sutherland at Bloomberg has looked into how the board of Brookdale Senior Living could react — assuming doing nothing is not an option — to investor Sandell Asset Management's call to spin its properties into a real estate investment trust. Setting up a REIT can be tricky but analysts say the company also sell and the lease back its real estate or sell the entire company to a REIT, which would then spin the Brookdale operating back out.
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