What have hedge funds been doing with Lions Gate Entertainment Corp. (USA) (NYSE:LGF)?
Heading into 2013, a total of 15 of the hedge funds we track were long in this stock, a change of -17% from the third quarter. With the smart money's sentiment swirling, there exists an "upper tier" of noteworthy hedge fund managers who were upping their stakes substantially. When looking at the hedgies we track, Alydar Capital, managed by John Murphy, holds the largest position in Lions Gate Entertainment Corp. (USA) (NYSE:LGF). Alydar Capital has a $63 million position in the stock, comprising 4.9% of its 13F portfolio. The second largest stake is held by Tremblant Capital, managed by Brett Barakett, which held a $24 million position; the fund has 1.1% of its 13F portfolio invested in the stock. Remaining peers with similar optimism include Stuart Peterson's Artis Capital Management, Phill Gross and Robert Atchinson's Adage Capital Management and Malcolm Fairbairn's Ascend Capital. Judging by the fact that Lions Gate Entertainment Corp. (USA) (NYSE:LGF) has witnessed falling interest from hedge fund managers, it's easy to see that there is a sect of money managers who were dropping their full holdings heading into 2013. Intriguingly, Mark Rachesky's MHR Fund Management dumped the biggest stake of the "upper crust" of funds we track, worth about $783 million in stock.. Christopher Lord's fund, Criterion Capital, also dropped its stock, about $8 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest was cut by 3 funds heading into 2013.