This Week in Billionaires: Icahn Makes an Offer, Sprott is Going Global (CLX, BIIB, DYN, MMI, DIS, MSFT, XOM, TEVA, MON, CVS, GE, PG, WMT, AG, AUY, SLW)
by Eric Monte | July 21st | Filed in: Hedge Fund and Institutional News
Shares of Clorox (CLX) traded higher this week after billionaire investor Carl Icahn offered to acquire the consumer products giant for $10.2 billion. Icahn’s offer valued California-based Clorox at $76.50 a share, or a 12% premium to where the stock closed last Thursday. Including debt, Ichan is offering $12.6 billion for Clorox. On Wednesday Icahn raised his offer to $80 per share for the company. At the end of the first quarter, Ichan’s Icahn Assosiates held stakes in Biogen Idec (BIIB), Dynegy Inc (DYN), and Motorola Mobility (MMI), to name a few. To see Icahn Associates’s top, U.S.-listed, equity holdings, visit tickerspy.com. Ray Dalio, founder of Bridgewater Associates, the world’s largest hedge fund, may be home to one of the most unusual cultures in the hedge fund universe, but that doesn’t stop the firm from consistently trouncing its rivals. Last year, Bridgewater’s flagship fund, Pure Alpha, surged 45%, good for one of the best returns of any large fund, according to the New Yorker. Despite Dalio’s foresight and Bridgewater’s ability to outperform rivals, the firm is still on the receiving end of plenty of criticism for its corporate culture, something the New Yorker notes irks Dalio. The firm’s new hires are required to read Dalio’s “Principles,” a 100-page missive that has been poked fun at by some financial media sources. At the end of the first quarter, Dalio’s Bridgewater Associates held stakes in some American companies likeWalt Disney Company (DIS), Microsoft (MSFT), and ExxonMobil (XOM), to name a few. To see Bridgewater Associate’s top, U.S.-listed, equity holdings, visit tickerspy.com. George Soros, founder of Soros Fund Management is holding onto cash these days. The $25.5 billion Quantum Endowment Fund, which is a fund run by Soros Fund Management, is taking a step back from risk, paring the number of trades it commits to and is now about 75% in cash as it waits for better opportunities to come along, Bloomberg News reported, citing sources with knowledge of the matter. The Quantum Endowment like so many other hedge funds this year, has been vexed by a series of global events that have weighed on financial markets, including the European sovereign debt crisis and more recently, talks regarding extending the U.S. debt ceiling. George Soros’ Soros Fund Management did hold stakes in stocks at the end of the first quarter, some of the companies included Teva Pharmaceutical (TEVA), Monsanto Company (MON), and CVS Caremark (CVS). To see Soros Fund Management’s top, U.S.-listed, equity holdings, visit tickerspy.com. Legendary investor Warren Buffett said the U.S. should do away with the debt ceiling, the issue that has recently roiled global equity markets as speculation has intensified that if Congress does not raise the debt ceiling, the “AAA” credit rating held by the U.S. for almost 90 years could be in danger. Buffett wasn’t the first to float the idea of nixing the debt ceiling. Moody’s Investors Service’s did the same in a report published on Monday. At the end of the first quarter, Buffett’s Berkshire Hathaway held stakes in companies like General Electric (GE), Procter & Gamble (PG), and Wal-Mart Stores (WMT), to name a few. To see Berkshire Hathaway’s top, U.S.-listed, equity holdings, visit tickerspy.com. Eric Sprott’s Sprott Asset Management is looking to expand its presence beyond the confines of Canada’s borders. The firm made a few acquisitions in the U.S. last year and in an interview with the Globe and Mail, Sprott CEO Peter Grosskopf says outside of Canada “we feel our global brand recognition has increased dramatically and what we haven’t done is take full advantage of it.” Grosskopf goes on to note Sprott has a small number of global institutional clients and the firm would like to change that. Sprott’s Sprott Asset Management held stakes in some precious metal stocks at the end of the first quarter, some of the companies included First Majestic Silver (AG), Yamana Gold (AUY), and Silver Wheaton (SLW). To see Sprott Asset Management’s top, U.S.-listed, equity holdings, visit tickerspy.com. A full listing of all the Pro investors and related charts and metrics are available at tickerspy.com. Tags: AG, AUY, BIIB, CLX, CVS, DIS, DYN, GE, MMI, MON, MSFT, PG, SLW, TEVA, WMT, XOM
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