Eminence Capital Discloses FNFV Group Stake ~ market folly

Wednesday, October 15, 2014

Eminence Capital Discloses FNFV Group Stake

Per a 13G filed with the SEC, Ricky Sandler's hedge fund firm Eminence Capital has revealed a new position in FNFV Group (FNFV).  They now own 6.1% of shares via their 5.55 million share position.  The filing was made due to activity on September 30th.

FNFV was spun-off from Fidelity National Financial (FNF) this summer.  Each 'old' share of FNF was converted into a new share of FNF and 0.3333 of a share of the newly created FNFV.  The latter is a tracking stock, and that's what Eminence has now reported a stake in.

We've also posted other recent portfolio activity from Eminence here.

Per Yahoo Finance, FNFV stands for Fidelity National Financial Ventures and it operates as the investment arm of Fidelity National Financial. 

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