Pershing Square Capital Management’s William Ackman has moved on to his next activist target. The New York hedge fund manager disclosed Friday he owns nearly 9.9 percent of the common shares of Fannie Mae and nearly 9.8 percent of Freddie Mac. In a regulatory filing, he said he acquired most of his shares since October 7 by exercising stock options. The hedge fund said it is inspired by Fairholme Capital Management’s proposal late Wednesday to acquire the insurance businesses of Fannie Mae and Freddie Mac. Fairholme and other hedge funds have been big buyers of Fannie and Freddie’s preferred stock.
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Scout Capital Management ., the hedge fund firm founded in 1999 by James Crichton and Adam Weiss, cut its stake in Tim Horton’s Inc. to 4.4 percent from 5.5 percent. Earlier this week, Tim Horton’s, an aggressive buyer of its own stock, announced it would repurchase 2.12 million shares under one or two private agreements. The stock is up 40 percent this year. In June we reported the two principals fired off a letter to the board of directors asserting Tim Horton’s could boost its stock price by 65 to 105 percent if it followed the hedge fund’s blueprint for boosting value. The company seemed to have heard them. In August the board approved a $900 million increase in debt to be used to repurchase stock. In October it entered into a one-year, $400 million revolving bank facility, to provide interim financing. The company also opened 13 restaurants in the U.S. during the quarter. In August Scout gave up on its activist battle with DineEquity Inc., reducing its stake to 4.2 percent. By the end of the third quarter it had cleared out its entire position. Still, while Scout is trimming its stake, the folks at Tim Horton’s should not relax for too long. In the third quarter, the stock was one of the biggest new positions taken by activist Mick McGuire of Marcato Capital Management, who learned his trade working at William Ackman's Pershing Square Capital Management.
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Ricky Sandler的Eminence Capital拥有男装屋公司9.8%的股份。，该公司在一份监管文件中表示，正寻求召开一次股东特别会议，就一些公司章程修正案进行表决，目标是在公司未能与乔斯达成合并协议后，最终能够在下一次年会之前“无故”罢免董事。A.在星期四的最后期限之前纽约对冲基金在一份监管文件中表示：“卓越资本（Eminence Capital）认为，通过允许昨日的最后期限到期，董事会已经确认，它没有承诺对股东履行基本的信托义务，并对现状感到满意。”根据董事会的行动，我们被迫推出这一举措，使股东有机会对Men's Wearhouse进行重要的公司治理改革。”根据德克萨斯州法律，持有Men's Wearhouse有权在特别会议上投票的至少10%股份的股东可以召开特别会议。11月4日，Men's Wearhouse发表声明称，拒绝了每股48美元的收购要约，声称“该提议严重低估了Men's Wearhouse的价值，其持续增长和创造价值的强劲前景，桑德勒还斥责该公司上个月董事会实施的治理改革，包括对公司章程的股东修正案进行超多数表决，以及实施10%门槛的毒丸。
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The Credit Suisse Hedge Fund Index rose 1.59 percent in October, putting it up 7.03 percent for the year. Long-short equity is the best performer, up 13.55 percent, while -- no surprise -- dedicated short bias funds are taking a beat, down, on average by 23.21 percent.
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巴克莱对冲基金（BarclayHedge）和TrimTabs投资研究公司（TrimTabs Investment Research）的数据显示，对冲基金行业9月份的资产规模超过20亿美元。报告显示，对冲基金带来的资产比9月份赎回的资产多41亿美元，这是连续第三个月净资产增长，该报告是基于3340只基金的数据得出的。2013年，该行业共净收入516亿美元，而去年同期净流出26亿美元。另一方面，对冲基金的基金在9月份净流出26亿美元，在过去24个月中只有两个月出现净流入。
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The average emerging markets hedge fund rose 2.5 percent in October and is up 4.7 percent for the year to data, as measured by the HFRI Emerging Markets Total Index. Total capital invested in emerging markets hedge funds rose to $161 billion.
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艾利森输电控股公司（Allison Transmission Holdings Inc.）股价再次上涨1.72%，至26.09美元，自杰弗里•乌本（Jeffrey Ubben）的ValueAct Capital周一将其持股比例提升至9.9%以来，该公司股价已上涨逾12%。
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Shares of Herbalife surged nearly 5 percent to $69.05. On Thursday, a number of hedge fund managers disclosed new or substantially increased stakes in the multi-level marketer of nutrition and health supplements, including retired hedge fund manager Stanley Druckenmiller; Richard Perry’s Perry Corp.; Kyle Bass’ Hayman Capital Management L.P.; Scout Capital Management, founded by James Crichton and Adam Weiss; PointState Capital, founded by several former Duquesne Capital investment pros, and Kenneth Griffin’s Citadel Advisors.