Glenview Capital Boosts Carter's Position

Larry Robbins' hedge fund firm Glenview Capital has filed a 13G with the SEC regarding shares of Carter's (CRI).  Per the filing, Glenview now owns 6.84% of the company with over 3.67 million shares.

This marks an increase of over 2.1 million shares in their position size since the end of the first quarter.  The filing was made due to activity on July 10th.

Glenview isn't the only hedge fund that's been out buying CRI shares, either.  We recently highlighted that Hound Partners added to their Carter's stake too.

Per Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."

Hound Partners Increases Carter's Stake

Johnathan Auerbach's hedge fund firm Hound Partners filed an amended 13G with the SEC regarding shares of Carter's (CRI).  Per the filing, Hound now owns 6.92% of the company with over 3.7 million shares.

This means they've boosted the number of shares they own by around 10% since the end of the first quarter.  The filing was made due to activity on June 12th.  Conversely, we pointed out a few months ago that Tiger Global had exited its CRI stake.

We've highlighted other recent portfolio activity from Hound here.

Per Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."

Tiger Global Exits Carter's Stake

Chase Coleman and Feroz Dewan's hedge fund Tiger Global has filed an amended 13G with the SEC regarding shares of Carter's (CRI).  Per the filing, Tiger Global has completely exited its stake and no longer owns any shares.

The filing was made due to activity on May 23rd.  The hedge fund had previously owned over 6.4 million shares and it had been a longstanding position.  Some hedge funds had been concerned with product cost inflation and the potential impact on gross margins this year.

Hedge funds that owned sizable CRI stakes as of the end of Q1 include Hound Partners, Pennant Capital, Glenview Capital, and White Elm Capital.

You can view other recent portfolio activity from Tiger Global here.

Per Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."

Hound Partners Increases Carter's Position

Johnathan Auerbach's hedge fund Hound Partners has filed a 13G with the SEC regarding Carter's (CRI).  Per the filing, Hound has disclosed a 5.01% ownership stake in CRI with over 2.73 million shares.

This means they've added to their position by 289,815 shares since the end of the third quarter.  The filing was required due to activity on January 8th.

Hound is a 'Tiger Seed' as they were seeded by Tiger Management's Julian Robertson.  Fellow Tiger Seed hedge fund, Tiger Global, also added to their CRI stake a few months ago.

Per Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."

Tiger Global Adds to Carter's Stake

Chase Coleman and Feroz Dewan's investment fund Tiger Global just filed an amended 13G with the SEC regarding their stake in Carter's (CRI).  Per the filing, they've disclosed an 8.2% ownership stake in CRI with 5,653,031 shares.

This marks a 41% increase in their position size since the end of second quarter.  They bought over 1.6 million shares and the event date that required the filing was October 24th, the same day CRI shares were down 8% after reporting earnings.

Prior to this filing, Tiger Global was already one of the largest institutional holders of Carter's shares, and now they own even more.

Numerous other prominent hedge funds we track have also been long CRI shares as of Q2, including Viking Global, Hound Partners, Pennant Capital, Corvex Management, and Glenview Capital.  In a few weeks, we'll see who remains long as of the end of Q3.

Per Google Finance, Carter's is "is a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."

For more on this hedge fund, we've posted some other recent Tiger Global portfolio activity here.

Tiger Global Boosts Carter's (CRI) Stake

Chase Coleman's hedge fund firm Tiger Global filed a 13G with the SEC regarding their position in Carter's (CRI).  Per the filing, Tiger Global has revealed a 6.75% ownership stake in CRI with 4 million shares.

This marks a 36% increase in the amount of shares they own since the end of the first quarter.  This latest disclosure comes due to portfolio activity on May 9th.

To see the rest of Tiger Global's recent portfolio, check out the brand new issue of our premium newsletter that just came out yesterday.

Per Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."

Highfields Capital Boosts Carter's (CRI) Stake, Shifts CoreLogic (CLGX) Stake to Passive Investment

Jonathon Jacobson's hedge fund firm Highfields Capital recently filed two 13G's with the SEC on Carter's (CRI) and CoreLogic (CLGX).

Carter's (CRI)

Per the filing, Highfields Capital has disclosed a 5.5% ownership stake in Carter's with 3,270,163 shares.  The filing was made due to portfolio activity on June 4th.

This marks almost an  85% increase in their position size in the name since the end of March. It also moves up Highfields as one of the top holders of the stock in addition to the likes of Viking Global and Matrix Capital.  Just a few months ago, we highlighted how Viking raised its stake in Carter's.

Per Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."


CoreLogic (CLGX)

The second filing is a 13G from Highfields on CoreLogic indicates they have a 7.6% ownership stake in the company with 8,149,719.  This stake is unchanged from their last filing and the main reason they've filed is because their stake has shifted from an activist stake (with a previous 13D filing) to now a passive one (13G filing).

The hedge fund has withdrawn its nominees to the company's board after the company itself nominated three new directors and the chairman agreed to step down this year.  It appears as though the fund was mainly seeking members with more relevant business experience and it looks like they've achieved that.

Per Google Finance, CoreLogic is "a provider of property, financial and consumer information, analytics and services to mortgage originators and servicers, financial institutions and other businesses, government and government-sponsored enterprises. CoreLogic’s data, query, analytical and business outsourcing services help its customers to identify, manage and mitigate credit and interest rate risk. It offers its customers a databases of public, contributory and data covering real property and mortgage information, judgments and liens, parcel and geospatial data, national coverage eviction information, non-prime lending records, credit information, and tax information, among other data types."


About Highfields

Jacobson founded Highfields in 1998 after previously serving as the senior equity portfolio manager at Harvard Management Company. Highfields is an $11 billion value-oriented firm that doesn't want to swing at every pitch, but rather just the fat ones where they can hit home runs.  We've previously highlighted Jacobson's thoughts on whether there's alpha in asset allocation.


For more on this hedge fund, you can read Highfields' thesis on one of their top holdings: Sallie Mae here.

Viking Global Raises Carter's (CRI) Stake

Andreas Halvorsen's hedge fund Viking Global filed a 13G with the SEC regarding its stake in Carter's (CRI). Per the filing, Viking now owns 5.5% of the company with 3,246,600 shares.

This marks a 32% increase in their position size since the end of 2011. The disclosure was required due to the regulatory level being crossed on March 20th.

Andreas Halvorsen was recently listed as one of the top 25 highest earning hedge fund managers for 2011.

Per Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh. Its Carter’s brand provides apparel for children sizes ranging from newborn to seven. OshKosh brand provides its line of apparel for children sizes newborn to 12. Its Carter’s, OshKosh, and related brands are sold to national department stores, chain and specialty stores and discount retailers."

We've also posted some other recent portfolio activity from Viking.

Mark Massey's Hedge Fund AltaRock on Domino's, Mohawk Industries, & Carter's

Today we present an update from Mark Massey's hedge fund AltaRock. Since his inception as portfolio manager, Massey has seen a compound annual growth rate of 11.9%. And through the end of July, AltaRock was up 17.6% net for the year. While that obviously doesn't include the August volatility, it's certainly impressive.

Last year we posted up AltaRock's investing principles and received a ton of positive reader feedback about the piece. Since their letter was theoretical and practical in nature, the one question readers kept asking was: what are they invested in and why? Clearly everyone wanted to see these principles in practice.

Well today we're happy to share AltaRock's mid-year 2011 letter which walks you through their rationale with very in-depth write-ups on the following new additions to their portfolio: Domino's Pizza (DPZ), Mohawk Industries (MHK), and Carter's (CRI).

Massey writes that, "we invest with the mindset of a long-term business owner, and we seek superior businesses with durable competitive advantages."

Embedded below is the update (email readers please click this link to come read it: AltaRock's 2011 letter):



Be sure to also check out AltaRock's investing principles as it truly is an excellent piece.

Steven Cohen's SAC Capital Boosts Carter's (CRI) Stake

Steven Cohen's hedge fund firm SAC Capital filed a 13G with the SEC regarding shares of Carter's (CRI). Due to portfolio activity on September 7th, the filing states that SAC Capital now has a 5.4% ownership stake in CRI with 3,212,093 shares. This figure includes 452,200 shares represented by call options. Overall, this is a massive increase as SAC has boosted its position size in Carter's by 21,684%. Back on June 30th, they only held 14,745 shares of the company.

In terms of other recent activity from Cohen's firm, we detailed their stake in Genco Shipping (GNK) as well. Remember that due to SAC's frequent trading, you can't necessarily read too much into these filings. As such, take it with a grain of salt since they move in and out of positions much quicker than other hedge funds. We simply cover their activity because readers want to know what good ole Stevie Cohen is up to.

Make sure to check out our coverage of Goldman Sachs' VIP list where we identify what stocks matter most to hedge funds.

Taken from Google Finance, Carter's is "a branded marketer of apparel for babies and young children in the United States. The Company owns two brand names in the children’s apparel industry, Carter’s and OshKosh."