Market Overview

Mark Cuban & Ken Griffin Boosted Their Stakes In These Companies


Here's a look at two moves disclosed by major investors on Monday.

Citadel Advisors

Ken Griffin’s Citadel Advisors, a firm that last disclosed an equity portfolio worth more than $91 billion, declared an enormous increase in its exposure to Oclaro, Inc. (NASDAQ: OCLR). The fund had declared holding 102,343 shares by December 31, 2015; It revealed it owned 6,837,082 shares as of February 18, 2016.

The stake represents 5.8 percent of Oclaro’s total shares outstanding, and makes of Citadel the second-largest institutional investor of record in the company, only trailing Kopp Investment Advisors, which last disclosed ownership of 10,684,689 shares.

Mark Cuban

Mark Cuban disclosed a small increase in his exposure to Reading International, Inc. (NASDAQ: RDIB) (NASDAQ: RDI). According to a 13D filing, the investor increased his holdings by 300 Class B shares, to 207,913 Class B shares, worth more tan $2.5 million at current valuations.

While the number of shares owned by Cuban rose, the percentage of outstanding stock that he owns fell from 13.1 percent in November of 2015, to a current 12.4 percent.

So, what happened?

Well, Reading’s Class B stock got dissolved: by August 10, 2015, there were 1,580,590 shares of Class B Voting Common Stock outstanding; by November 6, the figure had fallen to 1,680,590. Still, Cuban is one of the largest shareholders in the company, which counts with the support of other major institutional investors like Jim Simons’ Renaissance Technologies, which last disclosed ownership of 924,167 Class A shares, worth more than $12.1 million.

Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.


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Posted-In: citadel advisors Ken Griffin Mark CubanLong Ideas Hedge Funds Trading Ideas General