Meritage Group Increases Axalta Coating Systems Stake ~ market folly

Thursday, October 15, 2015

Meritage Group Increases Axalta Coating Systems Stake

Jim Simons, founder of quant Renaissance Technologies, also has a family investment vehicle called Meritage Group managed by his son Nathaniel.  Meritage has filed a 13G with the SEC regarding its position in Axalta Coating Systems (AXTA).  Per the filing, Meritage now owns 5% of AXTA with over 12 million shares.

This is an increase of over 3.22 million shares in their position size since the end of the second quarter when they owned 8.78 million shares.  The filing was made due to activity on October 2nd.

Warren Buffett's Berkshire Hathaway is also involved in AXTA and bought around $28, slightly below where the stock is trading now.  Our most recent Hedge Fund Wisdom newsletter highlighted the thesis on AXTA if you want to catch up quickly on the name.

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