The SPDR S&P Bank ETF (KBE) seeks to track the returns on the S&P Banks Select Industry Index. It has a market capitalization of $2.6 billion as of January 5.
On November 6, 2015, KBE closed at $36.59, above its 100-day moving average of $33.34, its 50-day moving average of $34.08, and its 20-day moving average of $34.87.
In December 2014, Fidelity National Financial agreed to acquire BPG Holdings, a leader in home warranties, home inspections, and commercial inspections.
Glenview Capital Management added to its position in Fidelity National Financial (FNF) in the third quarter. Currently, the position accounts for 1.70% of the fund’s total portfolio.
Vodafone is one of the world’s largest telecom companies. Its shares were up on fresh rumors in August that AT&T executives were working on a bid for the company.
Founded in 1890 in Monterrey, Mexico, FEMSA is comprised of two complementary business units—Coca-Cola FEMSA, and FEMSA Comercio, a convenience-store operator.
TRI Pointe Homes is one of the top ten–largest public homebuilders by equity market capitalization in the US. The company reaffirmed its 2015 outlook for earnings per diluted share in the range of $1.25 to $1.40.
CBS Outdoor Americas is the largest provider of advertising space on out-of-home advertising structures and sites across the US, Canada, and Latin America.
Fidelity is the largest title insurance company in the United States. Fidelity’s FNFV segment includes a 51% stake in Remy, an automotive sector player, and a 55% ownership interest in American Blue Ribbon Holdings, which operates in the restaurant sector.
Liberty Media Corporation owns interests in a range of communications and entertainment businesses. Recently, the company completed the previously announced spin-off of its cable business, Liberty Broadband.
CalPERS is the largest public pension fund in the US. It administers health and retirement benefits on behalf of 3,064 public school, local agency, and state employers.
The Baupost Group initiated a position in RF Micro Devices Inc. (RFMD) that accounted for 1.25% of the fund’s total portfolio. Baupost also started a new position in RFMD’s peer and merger partner, TriQuint Semiconductor (TQNT).
The Baupost Group added a stake in Cheniere Energy Inc. (LNG) that accounted for 7.57% of the fund’s total portfolio. Cheniere Energy is a Houston-based energy company.
Seth Klarman’s Baupost Group, LLC, returned $4 billion to clients at the end of last year. The fund is one of the best-performing hedge fund managers of all time, generating $21.5 billion in returns over its history.
Idenix Pharmaceuticals (IDIX) accounted for a 6.25% position in Baupost’s fourth quarter portfolio. The hedge fund increased its stock holdings in Idenix last month.
Fidelity National Financial Inc. (FNF) is a new position initiated by The Baupost Group last quarter. The position accounts for 1.82% of the fund’s 4Q portfolio.
The Baupost Group opened a new position in animal health company Kindred Biosciences Inc. (KIN) that accounts for 0.92% of the fund’s $3.5 billion portfolio.
Seth Klarman’s Baupost Group, LLC was ranked the fourth best-performing hedge fund manager of all time for generating $21.5 billion in returns over its history.
