Small Investors Have Window Into Larger Fund’s Activities with 13F Filings

September 4, 2013 Debbie Jacobs Hedge Fund News

According to a regulatory filing by Investor’s Soros Fund Management, George Soros, fund manager, sold off 7.85 million shares of US Airways Group Inc during the second quarter of 2013. The decision to sell was well-timed; on Tuesday the US Justice Department prevented a proposed merger of US Airways with AMR Corp, the parent company of American Airlines.

Omega Advisors, led by Leon Cooperman, dumped Facebook Inc during the second quarter, and Patrick McCormack’s Tiger consumer Management Fund picked up the slack an brought the social networking giant into his domain.

When funds file their 13F forms with the US Securities and Exchange Commission (SEC) money managers and other investors are offered a glimpse into what’s trading and how among the bigger players.

For example, Omega sold 3.67 million shares of Facebook during the second quarter, according to their 13F. The also added 5.72 million shares into their portfolio of New Residential Investment Corp, a mortgage real estate investment trust.

McCormack’s Tiger Consumer, on the other hand, bought 1.2 million shares of Facebook, for a total stake of 4.8 million shares in that popular company.

The SEC requires fund managers to list their stock holdings in a 13F filing on a quarterly basis. This public information is scrutinized by many smaller investors as a guide for action in the coming quarter and beyond. It is important that these smaller investors act with caution when examining the 13Fs, since they are merely a static snapshot of holdings of the money manager 45 days previously. The 13F has no information about current trades or shares.

George Soros, Leon Cooperman, Omega Advisors, Patrick McCormack, SEC,

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