In 13G filings released today at sec.gov, Kyle Bass' hedge fund Hayman Capital Management disclosed that it owned 11,428,450 shares or 5.2% of JCPenney on August 30, 2013, up from 5.5 million shares on August 20, according to CNBC's David Faber. And today Larry Robbins' Glenview Capital Management disclosed that it owned 20,060,830 shares or 9.1% of JCP, up from 8,431,879 shares as of June 30, 2013. According to Bloomberg's Stephanie Ruhle, Kyle Bass' fund also owns JCP's secured loans and sold JCP's credit default swaps.
On Friday, Richard Perry's hedge fund Perry Capital disclosed that it owned 8.62% of JCP after buying up 3 million of Bill Ackman's shares in a secondary offering at $12.90. JCP ended the day at $12.72, up 1.92%. It's interesting to see all of this hedge fund interest after Ackman blew out of his position at a $410 million loss. Read my previous post for more JCP analysis. I'm still watching HLF/JCP (the Ackman Ratio).