Boston-based Highfields Capital has started a large new position in the pharmaceuticals company.
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US hedge fund Highfields Capital Management LP has started new positions in Teva Pharmaceutical Industries Ltd. (NYSE: TEVA; TASE:TEVA). The firm initiated a large new position in Teva that accounts for 2.66% of the fund’s first quarter 2014 portfolio.
Boston-based Highfields was founded in 1998 “Highfields’ investment funds have over $12 billion in assets under management invested worldwide in public and private companies across a wide variety of industries and security types, ” says the firm on its site.
In addition to the stake in Teva, Highfields started new positions in Monsanto Co. (NYSE: MON), eBay Inc. (Nasdaq: EBAY), and Exxon Mobil Corporation (NYSE: XOM), and sold top positions in United Parcel Service Inc. (UPS) and FedEx Corp. (NYSE: FDX).
Published by Globes [online], Israel business news – www.globes-online.com – on June 17, 2014