Paul Singer (Trades, Portfolio) is the founder of Elliot Management, a hedge fund composed of 73 stocks with a total value of $9,592 million. Singer is well known for taking an activist investor stance in underperforming companies, and for buying sovereign debt at a discount, including countries such as Peru, Democratic Republic of the Congo and Argentina.
On April 30, he bought 4,197,001 shares of CDK Global Inc (CDK) at an average price of $47.92 and with an impact of 2.11% on his portfolio. With this buy he is now holding 2.62% of shares outstanding of CDK, and he became the second Guru that holds the company. Just a few months before him, the other Guru Eric Mindich bought a big stake of CDK, and he became the main holder: now he holds 2.7% of outstanding shares. Continue Reading »