13D Updates: Hedge Funds Are Making Moves

There have been a flurry of 13D updates this week that we would like to highlight. Trian Fund Management increased its stake in Wendy’s (Nasdaq:WEN) to 27.02% of the total outstanding common shares. The Wendy’s Company is the world’s third largest quick-service hamburger company. The Wendy’s system includes more than 6,500 franchise and Company restaurants in the United States and 27 countries and U.S. territories worldwide.

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Marathon Asset Management disclosed a 5.16% stake in the total outstanding common shares of Forrester Research (Nasdaq:FORR). FORR is an independent research company, provides pragmatic and forward-thinking advice to business and technology customers worldwide. Marathon also decreased its ownership stake to 9.18% of the total outstanding common shares of Cablevision Systems (NYSE:CVC).

Seth Klarman’s Baupost Group decreased its ownership of total outstanding common shares in PDL Biopharma (Nasdaq:PDLI) to 2.15%. PDLI engages in the management of antibody humanization patents and royalty assets, which consist of Queen et al. patents and license agreements with various biotechnology and pharmaceutical companies.

Akanthos Capital is out with its latest holdings as of 12/31/11:

Harbinger Capital Partners increased its ownership in the outstanding common shares of Spectrum Brands (NYSE:SPB), as they now hold less than 55.6%. Spectrum Brands is a global consumer products company and a leading supplier of batteries, shaving and grooming products, personal care products, specialty pet supplies, lawn & garden and home pest control products, personal insect repellents and portable lighting. Helping to meet the needs of consumers worldwide, included in its portfolio of widely trusted brands are Rayovac®, Remington®, Varta®, Tetra®, Marineland®, Nature’s Miracle®, Dingo®, 8-In-1®, Spectracide®, Cutter®, Repel®, and HotShot®.

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Disclosure: I do not have a position in any stocks mentioned in this article, do not have a plan to initiate a position within the next 72 hours.
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