Thursday, June 19, 2014

Marcato Capital Increases Life Time Fitness Stake

Mick McGuire's hedge fund firm Marcato Capital today filed an amended 13D with the SEC regarding their stake in Life Time Fitness (LTM).  Per the filing, Marcato has indicated they own 7.6% of the company now with over 3.11 million shares.  This is up from the 2.9 million shares they previously disclosed.

The filing notes that "On June 17th (Marcato) received notification granting their request for early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended.  Following such notification, (Marcato) exercised options that they owned and purchased additional shares."

We highlighted Marcato's original 13D filing on LTM here.

Per Google Finance, Life Time Fitness "operates multi-use sports and athletic, professional fitness, family recreation and spa centers in a resort-like environment."

Senator Investment Group Discloses Peabody Energy Position

Alex Klabin and Doug Silverman's hedge fund firm Senator Investment Group has filed a 13G with the SEC regarding shares of Peabody Energy (BTU).  Per the filing, Senator now owns 5.5% of the company with 15 million shares.  This position is inclusive of call options exercisable into 10 million shares.

This is a newly disclosed equity position as they did not report ownership at the end of the first quarter.  The filing was made due to activity on June 2nd.

You can view additional recent portfolio activity from Senator here.

Per Google Finance, Peabody Energy is "a private-sector coal company. The Company owns interests in 28 active coal mining operations located in the United States and Australia. The Company has a majority interest in 27 of those coal operations and a 50% equity interests in the Middlemount Mine in Australia. The Company also owns a noncontrolling interest in a mining operation in Venezuela. In addition to the Company's mining operations, the Company markets and broker coals from its operations and other coal producers, both as principal and agent, and trade coal and freight-related contracts through trading and business offices. The Company conducts business through four principal segments: Western United States. Mining, Midwestern U.S. Mining, Australian Mining and Trading and Brokerage. The Company's fifth segment, Corporate and Other, includes mining and export/transportation joint ventures, activities associated with certain energy-related commercial matters, Btu Conversion."

For more from this hedge fund, head to Senator's thesis on Air Products & Chemicals.

Wednesday, June 18, 2014

What We're Reading ~ Analytical Links 6/18/14

Market valuation overview: yet more expensive? [Advisor Perspectives]

Lessons learned on finance, investing and more [Morgan Housel]

A look at Admiral Plc [Value and Opportunity]

Why millennials should try their luck in Mexico [BlackRock]

Slide deck on the emerging global web [View From the Blue Ridge]

Why smart people struggle with strategy [Harvard Business Review]

A look at Capital Group's Gordon Crawford [American Funds]

Why you have way too much invested in US stocks [Advisor Perspectives]

Don't do what you love, do what you do [Harvard Business Review]

AIG's collapse: the part nobody likes to talk about [American Banker]

Is Silicon Valley the future of finance? [NYMag]

A look at Apple under Tim Cook [Daring Fireball]

On Google's Skybox acquisition [WSJ]

The age of transformation [Mauldin]

Why China doesn't want to be number one [East Asia Forum]

Don't worry about illiquidity, worry about being right [MicroCapClub]

Eminence Capital Boosts Allscripts Healthcare Solutions Position

Ricky Sandler's hedge fund firm Eminence Capital has filed a 13G with the SEC regarding shares of Allscripts Healthcare Solutions (MDRX).  Per the filing, Eminence has revealed a 5.1% ownership stake in MDRX with over 9.2 million shares.

This marks an increase of over 847,000 shares in their position since the end of the first quarter.  The filing was made due to activity on June 3rd.

You can view other recent portfolio activity from Eminence here.

Per Google Finance, Allscripts Healthcare Solutions "is a provider of clinical, financial, connectivity and information solutions and related professional services to hospitals, physicians and post-acute organizations. The Company provides a variety of integrated clinical software applications for hospitals, physician practices and post-acute organizations. For hospitals and health systems these applications include its Sunrise Enterprise suite of clinical solutions, consisting of a range of acute care Electronic Health Record (EHR), integrated with financial/administrative solutions, including performance management and revenue cycle/access management. The Company’s acute care solutions include Emergency Department Information System (EDIS), care management and discharge management."

TPG-Axon Increases GNC Holdings Stake

Dinakar Singh's hedge fund firm TPG Axon has filed a 13G with the SEC regarding shares of GNC Holdings (GNC).  Per the filing, TPG has revealed a 5.8% ownership stake in GNC with over 5.28 million shares.

This marks an increase of 1,258,000 shares in their position size since the end of the first quarter.  The filing was made due to activity on June 16th.

You can view some previous investment picks from Dinakar Singh here.

Per Google Finance, GNC Acquisition is "a global specialty retailer of health and wellness products. The Company has three segments: Retail, Franchise and Manufacturing/Wholesale. Corporate retail store operations are located in the United States, Canada, and Puerto Rico, and in addition the Company offers products domestically through, and Franchise stores are located in the United States and 54 international countries, including distribution centers where retail sales are made. The Company operates its primary manufacturing facilities in South Carolina and distribution centers in Arizona, Pennsylvania and South Carolina. The Company manufactures the majority of its branded products, but also merchandises various third-party products. It sells products through a worldwide network of more than 8,100 locations operating under the GNC brand name."