Bret Barakett's Tremblant Capital Group Files 13G On IMAX ~ market folly

Tuesday, August 25, 2009

Bret Barakett's Tremblant Capital Group Files 13G On IMAX

In a 13G filed with the SEC, Bret Barakett's hedge fund Tremblant Capital Group has disclosed a 6.78% ownership stake in IMAX (IMAX). The 13G was filed due to activity on August 12th, 2009, and they now own 3,744,749 shares. In their most recent 13F filing which details positions as of June 30th, 2009 we see that Tremblant owned 1,499,343 shares of IMAX. In the time elapsed from July 'til now, Tremblant has purchased 2,245,406 more shares.

This comes after we recently learned that Bret's brother Timothy Barakett would be closing down his Atticus Capital hedge fund. Hopefully Bret isn't feeling the need to step away from 'the game' anytime soon. Look for us to cover Tremblant very soon in our hedge fund portfolio tracking series as well where we will update their long portfolio in its entirety for the second quarter of 2009. In the mean time though, we've covered the 13G they filed on Eclipsys (ECLP).

Bret Barakett founded Tremblant after running portfolios for Louis Bacon's famed macro hedge fund, Moore Capital Management. Tremblant runs $3 billion these days and their objective is, "to achieve superior risk adjusted returns for our investors through our focused and disciplined investment process."

Taken from Google Finance, IMAX "together with its wholly owned subsidiaries, is an entertainment technology company specializing in motion picture technologies and large-format film presentations. Its principal business is the design and manufacture of large-format digital and film-based theater systems, sale or lease of such systems, and the conversion of two-dimensional (2D) and three-dimensional (3D) Hollywood feature films for exhibition on such systems worldwide."

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