DE Shaw, Citadel and Lone Pine largest Consumer Discretionary hedge fund investors

January 27th, 2015
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The latest list of largest Consumer Discretionary hedge fund investors has been released, with a number of well-known investors headlining the rankings: D.E. Shaw & Co ($8.1B in Consumer Discretionary); Citadel Investment Group ($7.6B); Lone Pine Capital ($6.9B); Renaissance Technologies Corporation ($6.2B); and AQR Capital Management LLC ($5.3B).

While there were familiar names near the top of the list, the largest investors in
Consumer Discretionary sector based on percentage of total equity assets invested in Consumer Discretionary is, interestingly, five activist investors with heavily concentrated positions: H Partners Management (92% of equity assets in Consumer Discretionary); ESL Investments (78%); MHR Fund Management (74%); Naya Management LLP (56%); and The Children's Investment Fund Mgmt (53%).

H Partners is an activist investor founded by Rehan Jaffer, an alum of Daniel Loeb’s Third Point. H Partners currently holds 92% of its equity assets under management in four Consumer Discretionary companies: Tempur-Pedic International (TPX, $338M); Six Flags Inc (SIX, $565M); Remy International Inc (REMY, $58M); and Boyd Gaming Corp (BYD, $43M). All of its positions remained unchanged over the quarter.

Eddie Lampert’s value focused ESL Investments holds nearly $1.2B in the Consumer Discretionary sector across three positions: Sears Holdings Corp (SHLD, $667M); AutoNation Inc (AN, $439M); and Sears Hometown & Outlet Stores, Inc. (SHOS, $77M). ESL trimmed its stake in AutoNation substantially over the quarter, selling more than 25% of its stake.

MHR Fund Management is a NY-based distressed investor with two significant positions within Consumer Discretionary totaling more than $2.1B in equity assets: Lions Gate Entertainment Corp (LGF, $1.7B) and Navistar International Corp (NAV, $460M).

The least concentrated of the Consumer Discretionary-focused hedge funds is Naya Management, which still only holds 8 positions. Naya is a UK-based value investor founded Masroor Siddiqui. Naya’s three largest Consumer Discretionary investments include: CBS Corp Class B (CBS, $136M); Armstrong World Industries Inc (AWI, $107M); and CF Industries Holdings Inc (CF, $107M). Notably Naya completely liquidated large positions in two Consumer Discretionary companies over the course of the quarter: Liberty Global Inc (LBTYA, $62M) and Twenty-First Century Fox Inc (FOXA, $78M)

Rounding out the top five, The Children's Investment Fund is another UK-based fund with three Consumer Discretionary investments, one being extremely sizable: Time Warner Cable Inc. (TWC, $978M); McGraw-Hill Companies Inc (MHFI, $192M); and Time Warner Inc (TWX, $52M). Children’s increased its position in top holding (Time Warner Cable) by nearly 30% over the quarter.

Hedge Tracker releases a series of top hedge fund lists on a quarterly basis. The Top 100 Consumer Discretionary Hedge Funds list is based on the top hedge funds investing in the Consumer Discretionary sector, ranked by their U.S. Consumer Discretionary equity assets under management. To view the Top Consumer Hedge Fund list in its entirety, please visit the Top Hedge Fund List ranking portal.
For Detailed Investor Profiles on these Investors, click below:
Citadel Investment Group
D.E. Shaw & Co
ESL Investments
Lone Pine Capital
MHR Fund Management
The Children's Investment Fund Mgmt
Related People: ; Becket Wolf*; Anne Dinning; Brandon Haley; Chris Hohn; David Craver; David E. Shaw; David Grossman; Derek Kaufman; Eddie Lampert; Eric Wepsic; Jeff Runnfeldt*; Joe Squeri; Julius Gaudio; Kaveh Alamouti*; Kenneth Griffin; Kerry Tyler; Louis Salkind; Mala Gaonkar; Marco Tablada; Mark H. Rachesky; Mark Stainton; Max Stone; Richard Rainwater*; Ryan Garino; Steve Mandel; Steve Mandel; Steve Weller*; Stuart Steckler(retired)*; William C. Crowley
Related Entities: Children's Investment Master Fund; Childrens Investment Fund LP; Childrens Investment Fund Management (UK) LLP; Citadel Alternative Asset Management; Citadel Equity Fund; Citadel Kensington; Citadel Wellington; D. E. Shaw Oculus Portfolios, LLC; D. E. Shaw Valence Portfolios; D.E. Shaw Group; D.E. Shaw Investment Management; DE Shaw Heliant Fund; Equiduct; ESL Institutional Partners; ESL Investments Inc; Kmart Holding Corp*; Lone Balsam LP; Lone Cascade; Lone Cypress Funds; Lone Dragon Pine; Lone Juniper; Lone Pine Capital (LPC); Lone Pine Sierra LP; Lone Sequoia LP; Lone Spruce LP; MHR Fund; New Castle Re; RBS Partners; Sears Holdings (NASDAQ: SHLD); Sowood Capital*; TCI; The Children's Investment Fund; The Children's Investment Fund Foundation; Tiger Management*
Related Article Tags: Shareholder Activists, Corporate Raiders and Proxy Battles; Top Hedge Fund Portfolio Reports

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