Market Overview

Thursday's Top Hedge Fund Moves: Mario Gabelli Likes Aerojet Rocketdyne, Bill Ackman Loves Mondelez

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Tracking hedge fund moves is a useful way to come up with research-backed investment ideas. So, let’s take a look at some of Thursday’s top hedge fund moves.

Mario Gabelli

According to a 13D SEC filing, the funds affiliated with Mario Gabelli (GAMCO Investors, Gabelli Funds, Teton Advisors and GGCP) disclosed a 77 percent increase in their overall stake in Aerojet Rocketdyne Holdings Inc (NYSE: AJRD) (NYSE: GY). The activist positions now comprise an aggregate of 9,243,916 shares of Common Stock (ticker AJRD), which represent 14.6 percent of the total shares outstanding.

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The wage makes of Mr. Gabelli, who is deemed to have beneficial ownership of the 9,243,916 shares, the largest institutional investor in the company, trailed by other firms like Warren Lichtenstein’s Steel Partners, which last disclosed ownership of 4,180,997 shares, worth more than $95 million at current stock prices.

Shares of Aerojet Rocketdyne fell 0.13 percent on Thursday trading.

Bill Ackman

Bill Ackman’s Pershing Square Capital Management also filed a Schedule 13D on Thursday. The fund declared having started a new position, comprising 120,265,238 shares of Class A Common Stock, in Mondelez International Inc (NASDAQ: MDLZ).

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The new bet represents 7.5 percent of the total outstanding stock, and makes Pershing Square the largest institutional shareholder of record in the company. Second in line is The Vanguard Group, which last disclosed holding 87,066,787 shares of the company, representing more than 5.2 percent of the shares outstanding.

Among major hedge funds, Nelson Peltz’s Trian Partners is the second-largest shareholder, having last disclosed owning 48,024,117 shares of Class A Common Stock, worth more than $2.2 billion at current stock prices.

Shares of Mondelez rose 1.12 percent on Thursday.

Posted-In: Bill Ackman Gabelli FundsLong Ideas News Hedge Funds Movers Trading Ideas General


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