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. 

Corvex Management Increases Fidelity National Financial Stake

Keith Meister's activist hedge fund Corvex Management has filed an amended 13D with the SEC regarding their position in Fidelity National Financial (FNF).  Per the filing, Corvex now owns 7.3% of the company with 20.24 million shares.

This is an increase of over 1.95 million shares since the end of the second quarter.  The filing was made due to activity on September 8th.  They bought 535,000 shares at $26.64 in late July and 1.4 million shares in early September at $27.60.

Per Yahoo Finance, Fidelity National Financial is "together with its subsidiaries, provides title insurance, technology, and transaction services to the real estate and mortgage industries in the United States."


Corvex's FNFV Group Stake

Corvex at the same time filed another 13D on FNFV Group common stock (FNFV).  Per that filing, they own 2.9% of the company with 2,694,572 shares. 

FNFV was spun-off from FNF.

It's also worth pointing out that Corvex had been selling these shares throughout July and then recently sold 2.5 million shares at $15.28 in early September.

Per Yahoo Finance, Fidelity National Financial Ventures "operates as an investment arm of Fidelity National Financial, Inc. and is based in United States."