James Pallotta's Raptor Capital Management 13D & 13G Filings ~ market folly

Tuesday, March 10, 2009

James Pallotta's Raptor Capital Management 13D & 13G Filings

This is the 4th Quarter 2008 edition of our ongoing hedge fund portfolio tracking series. Before reading this update, make sure you check out the Hedge Fund 13F filings preface.

Next up is James Pallotta's Raptor Capital Management. This update is slightly different than the majority of our 13F tracking posts simply because they haven't filed a 13F yet, as they are a newer fund. We've actually been tracking this development since back in August. However, they have filed a few 13D and 13G's back in mid January. So, we're going to go ahead and start coverage on them considering that we will be watching them going forward. We're tracking newly formed/spun-off Raptor simply because it is ran by James Pallotta, who previously ran Tudor Investment Corp's equity fund for many years. The fund was actually called the Raptor fund and as such, Pallotta has spun it off as his own fund and kept the name. So, in all the prior updates of Tudor Investment Corp's 13Fs, we were tracking Pallotta. We'll monitor Pallotta's Raptor now and then we'll continue to monitor Tudor's equity holdings as well.

Pallotta places global macro style bets on equities and is somewhat similar to a few other concentrated portfolio funds we follow. While at Tudor, Pallotta helped generate 14% annual returns ever since 1993. So, let's cover the developments thus far. All of the filings discussed below were filed on January 12th, 2009. In a 13D filed with the SEC, Raptor Capital Management has disclosed a 43.1% stake in Uni-Pixel (UNXL) with 17,343,760 shares beneficially owned. Additionally, they also filed a 13G, disclosing a 7.12% stake in BigString Corp (BSGC) with 4,004,288 shares beneficially owned. Lastly, they also show a 13G disclosing a 6% stake in Enherent Corp (ENHT) with 3,142,826 shares beneficially owned. All of the filings were made due to activity on January 1st, 2009.

We'll continue to monitor any filings and activity from Raptor from here on out as we bring them into the mix. This is just one of many funds in our hedge fund portfolio tracking series in which we're tracking 35+ prominent funds. We've already covered Paulson & Co (John Paulson), Carl Icahn, Warren Buffett, Stephen Mandel's Lone Pine Capital, George Soros, Bill Ackman's Pershing Square, Andreas Halvorsen's Viking Global, Timothy Barakett's Atticus Capital, David Einhorn's Greenlight Capital, Seth Klarman's Baupost Group, Peter Thiel's Clarium Capital, Bret Barakett's Tremblant Capital, and David Stemerman's Conatus Capital. Look for our updates as we will be covering a new fund each day.

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