Halister News

(Bloomberg) -- Housing starts seen rising 2.0% m/m in Jan. to 1.17m annual rate (forecast range 1.1m to 1.23m)

• Producer price index final demand seen falling 0.2% m/m in Jan., same as prior month (forecast range -0.7% to 0%)
  • PPI has fallen in 4 of past 5 months

(Bloomberg) -- “I agree 100 percent with the courts,” Republican presidential candidate Donald Trump says on “Fox & Friends.”

• “We have to open it up and we have to use our heads,” Trump says
• “We have to use common sense”
• “To think that Apple won’t allow us to get into her cell phone -- who do they think they are?”
• “We should find out what happened, why it happened, and maybe there’s other people involved and we have to do that”

Related story: Apple Opposes Order to Unlock San Bernardino Shooter’s iPhone

(Bloomberg) -- BRL’s relative resilience in 2016 reflects outlook for political changes over the medium and long term, along with improving current accounts, despite fears Brazil’s debt load is becoming unsustainable, economists say.

• Mkt sees Argentina’s President Mauricio Macri as potential example of what could happen in Brazil, said Carlos Kawall, chief economist at Banco Safra and former Brazil Treasury Secretary
  • Macri acted faster than expected to free the FX, cut spending and correct tariffs; “that shows that, after a political change, everything may happen fast”
• Along with improving balance of payment, Banco Votorantim’s chief economist Roberto Padovani says Brazil’s mkt has priced in most bad news on fiscal and political issues
  • “The political crisis, in anyway, will be surpassed”
  • While it still may worsen, a “new political cycle” may start as soon as in 2016
• Increasing consensus in Brazil over the need for pension regime reform to fix the budget and stabilize debt, despite the broad skepticism on govt’s ability to approve changes this yr, is also a positive: Kawall
• Brazil’s current-account gap narrows; furthermore, high FDI shows recession isn’t preventing foreign investors from entering the country, Kawall says
• BRL down 1.61% vs USD YTD, outperforming Latam peers such MXN and COP; Jan. 21 swap rates -79bps after BCB in previous meeting kept rates unchanged, suggesting local and external lower growth could help to stem inflation
• Brazil debt as percentage of GDP has grown since 2012, 2nd year of Rousseff’s 1st mandate as president of Brazil
• NOTE: In a Feb. report, Janus’ Bill Gross said Brazil is among examples of “addled” economies, and “no country over time can issue debt at 6%-7% real interest rates with negative growth. It is a death sentence”
• Luis Stuhlberger, manager at Brazil’s Fundo Verde, told Valor that Brazil assets may drop further as debt increases if govt fails to approve reforms; fact that mkt is still not going for big short against Brazil is based on hopes current PT party will no longer hold power in 2018
  • Brazil mkt is split between worries of further asset deterioration and prospects of a bull market if pro- reforms leader wins 2018 elections; PT’s potential candidate Lula may be harmed by allegations linked to companies targeted by Carwash probe; Lula hasn’t been charged with any crime and has repeatedly denied wrongdoing

(Bloomberg) -- Kinder Morgan rises 9.5% pre-mkt after Berkshire yday reported a new stake. Autodesk gained 2% post-mkt yday after Lone Pine took a new position. Several funds boosted or reported new stakes in JD.com while Jana Partners reported a new stake in Valeant.

• Below is a summary of 4Q equity holdings from Dec. 31 13-F filings by several top funds, with some of the new, added, cut and exited positions for each; some stakes may have previously been reported in separate filings.

ADAGE CAPITAL

• Reports new stakes in SYF, IR, MMM, KLAC, FE
• Boosts DOW, MSFT, HON, CVX, DAL
• Cuts GE, PEP, UTX, MPWR, AXP
• No longer shows D, RCII, ABY, RLGY, UGI

APPALOOSA MANAGEMENT

• Reports new stakes ETP, KMI, ABY, PFE
• Boosts GOOG, ALL, LUV, DAL, WHR
• Cuts NXPI, GT, EXP, AAPL, EMN
• No longer shows JBLU, TEX, USG, KBR, AXLL
• NOTE: Feb. 12, Tepper Buys Pipeline Operators as Appaloosa Stock Bets Rise

BAUPOST GROUP

• Reports new stakes in EMC
• Boosts AR, PYPL, RUN, KLXI, BITI
• Cuts FTR, KOS, NG
• No longer shows AA, PXD, EBAY, AER, LOCK
• NOTE: Feb. 12, Klarman’s Baupost Added to Stakes in Cheniere Energy, Antero

BERKSHIRE HATHAWAY

• Reports new stakes in KMI
• Boosts WFC, DE, AXTA
• Cuts T, WBC
• No longer shows CBI
• NOTE: Feb. 16, Berkshire Expands Energy Investments With Kinder Morgan Stake

BLUEMOUNTAIN

• Reports new stakes in SLH, WTW, CLACU, CDE, TROX
• Boosts NWSA, TERP, MGLN
• Cuts VRX, TWC, TSO, EURN, CLNY
• No longer shows BIIB, PXD, AXP, AYA

BRIDGEWATER ASSOCIATES

• Reports new stakes in HFC, AKAM, INTU, BRK/B, ADBE
• Boosts VMW, M, MAR, BCE, ADI
• Cuts SYMC, KO, RL, EMN, CTL
• No longer shows GOOGL, MON, AMAT, WFM, FDX

COATUE MANAGEMENT

• Reports new stakes in VRX, GPRO, FIT, ETE, WMB
• Boosts GOOG, MSFT, ATVI, JD, NFLX, EQIX, W
• Cuts AVGO, EXPE, AKAM, AGN, HAIN, DDD, SSYS
• No longer shows KHC, WBA, Z, ADSK, VIPS

CORVEX MANAGEMENT

• Reports new stakes in GOOG, BAC, COMM, CMA, P
• Boosts PFE, SIG, YUM
• Cuts BEAV, AGN, TWX, PAH, FNF
• No longer shows AET, TAP, APC, BUD, PRGO

DUQUESNE FAMILY OFFICE

• Reports new stakes in RTN, NOC, GOOGL, PSTG, SYF
• Boosts AMZN
• Cuts FB, HDB, MSFT, CTRP
• No longer shows WFC, WDAY, JD, ILMN, UA
• NOTE: Feb. 16, Druckenmiller’s Duquesne Reduces Facebook, Adds Defense Stocks

ELLIOTT MANAGEMENT

• Reports new stakes in CAB, CNP, XLE, RRTS
• Boosts AGN, EMC, CTXS, VMW, PLCM
• Cuts PRGO, FCB, CCL, FBIO
• No longer shows CMCSA, FOX, APC, JNPR, SQM

EMINENCE CAPITAL

• Reports new stakes in HOT, LQ, CAA, CCE, BERY
• Boosts ADSK, GMCR, YHOO, YUM
• Cuts PRT, GNC, FOSL, G, LNKD
• No longer shows KORS, AIG, CTRP, CSOD, MCD

ETON PARK CAPITAL

• Reports new stakes in EMC, AGN, TWC, GMCR, ADSK
• Boosts CRTO
• Cuts PRGO, ODP, ADBE, AER, CI
• No longer shows WMB, BEAV, GOOG, SNN

FAIRHOLME CAPITAL

• Boosts LE, DNOW, MRC, SRG
• Cuts BAC, CNQ, LUK, IBM, AIG
• No longer shows C, NOV

GATES FOUNDATION

• Cuts BRK/B
• No longer shows BP

GLENVIEW CAPITAL MGMT

• Reports new stakes in CSC, TWC
• Boosts HCA, CI, HUM, FMC, MON
• Cuts CDNS, PVH, CYH, TMO, WRK
• No longer shows ENDP, AGN, TER, DG, A

GREENLIGHT CAPITAL

• Reports new stakes in M, AGR, MYL, AGN, DSW
• Boosts TWX, KORS, IAC, AER, FOXA
• Cuts AAPL, CBI, ON, ACM, SEMI
• No longer shows MU, BK, SC, AMAT, KS
• NOTE: Feb. 16, Einhorn’s Greenlight Cuts Apple by 44%, Adds Allergan, Mylan
• NOTE: Jan. 22, Greenlight’s Einhorn Short Tesla, Netflix, Amazon: II Alpha; Jan. 19, Greenlight Reports New Position in Macy’s, Mylan, E.On: Letter

HIGHFIELDS CAPITAL MGMT

• Reports new stakes in YHOO, AGN, KSU, BK, DIA
• Boosts DD, MCD, ABBV, HOT, TRIP
• Cuts BEN, CBS, IRM, MHFI
• No longer shows APD, IBM, LLY, PG, QCOM

ICAHN ASSOCIATES

• Boosts HTZ, LNG, FCX
• Cuts AAPL, TGNA, GCI
• NOTE: Feb. 16, Icahn Increases Stakes in Hertz, Cheniere, Freeport-McMoran

ICONIQ CAPITAL

• Reports new stakes in VXUS, QQQ, CVX
• Boosts GLD, IWB, JD, VTI, XLE
• Cuts IAU, PARR, VNQ, LLNW, TSLA
• No longer shows XES, XOP, GDX, BP, RDS/A

JANA PARTNERS

• Reports new stakes in PFE, AIG, VRX, CSRA
• Boosts MSFT
• Cuts QCOM, BAX, AGN, CSC, TWX
• No longer shows HTZ, BKD, MAT, ZTS
• NOTE: Jan. 27, Jana Is Short Royal Mail, Dixons Carphone, InterContinental

LAKEWOOD CAPITAL

• Reports new stakes in QRVO, AMLP
• Boosts AGN, CFG, WRK, HCA, TWC
• Cuts CDW, JBLU, IM, SPR
• No longer shows BABA, BLL, AAL
• NOTE: Feb. 8, Bozza’s Lakewood Capital Shorting Adeptus, Dycom, Dean: ValueWalk

LANSDOWNE PARTNERS

• Reports new stakes in RACE, CLVS, LIVN, SYF, MTCH
• Boosts GOOGL, AAPL, V, AMZN, JPM
• Cuts GS, WFC, DIS, NKE, FIT
• No longer shows XLE, KW, IAC, SEMI

LONE PINE CAPITAL

• Reports new stakes in NOC, ADSK, LULU, GOOGL, GOOG
• Boosts DLTR, AMZN, MSFT, V, STZ
• Cuts VRX, CHTR, JD, PCLN, MA
• No longer shows AGN, DVA, SCHW, SBAC, MBLY

MARCATO CAPITAL

• Reports new stakes in M, TPHS, HZN, BLDR
• Boosts CBPX, VRTS
• Cuts GT, BID, MDCA
• No longer shows NCR, MIC, LEA, SGMS, JMG

MAVERICK CAPITAL

• Reports new stakes in NWL, CHTR, UNH, HDS, KHC
• Boosts ARRS, PFE, ADBE, WCN, YELP, PACB, KSU, SABR
• Cuts AER, GOOG, BUD, PCLN, ARMK
• No longer shows VRX, MTG, TMH, TWX, SYMC

MELVIN CAPITAL

• Reports new stakes in DLTR, SIG, NKE, BABA, LVS
• Boosts JD, DPZ, FB, ADBE, CTRP
• Cuts AMZN, KR, LULU, EXPE, SWK
• No longer shows EL, CASY, VFC, YUM, TJX

MILLENNIUM MANAGEMENT

• Reports new stakes in SYF, ITC, AGR, PEP, GMCR
• Boosts MRK, KEY, AAPL, NEE, PNW
• Cuts DOW, CMCSA, AMZN, SLB, AEE
• No longer shows ILMN, WFC, RDC, APA, SKX

MOORE CAPITAL

• Reports new stakes in CTRP, XOP, MSFT, RH, ICE
• Boosts BAC, C, BABA, AMZN, FB
• Cuts JPM, MGM, NRF, NSAM, TCO
• No longer shows FXI, EAGLU, PACEU, GRSHU, BLVDU

OMEGA ADVISORS

• Reports new stakes in FDC, EEM, MSFT, SYF, AET
• Boosts AIG, NAVI, WBA, ASPS, LORL
• Cuts PFE, TWX, TRGP, MSI, GPOR
• No longer shows PCLN, VRX, SUNE, CI, LYB
• NOTE: Nov. 16, Omega Sold Entire Valeant Stake, Reuters Says

PASSPORT CAPITAL

• Reports new stakes in GE, SYT, MCD, LLY, RTN
• Boosts MSFT, NKE, BMY, SBUX
• Cuts DLTR, SRE, DAL, PFE
• No longer shows SCTY, VIPS, NRG, RICE

PAULSON & CO.

• Reports new stakes in LRCX, AKRX, PFE, BIIB, ABBV
• Boosts MYL, TEVA, MNK, LIVN, VRX
• Cuts GLD, TWC, HOT, AGN, TMUS
• No longer shows HCA, CAM, MGM, WWAV
• NOTE: Feb. 16, Paulson Cut Stake in World’s Top Gold ETF by 37% Before Rally
• NOTE: Feb. 16, Paulson Takes New Positions in Pharmaceuticals, Lam Research

PERRY CORP.

• Reports new stakes in HCA, SE, CPGX
• Boosts TWX, AER, UAM
• Cuts AIG, WMB, CYH, ETE, BLL
• No longer shows ZTS, PRGO, CBS, INVA, DPM

POINT72 ASSET

• Reports new stakes in AAP, GLW, CSRA, AMAT, PBF
• Boosts NKE, SIG, MCD, DLTR, WHR
• Cuts AMZN, LULU, MSFT, SBUX, PXD
• No longer shows CMCSA, TMUS, JWN, FTR, XLU

POINTSTATE CAPITAL

• Reports new stakes in AGN, HUM, HYG, JD, DOW
• Boosts TEVA, TWC, CLVS, LNG, CFG
• Cuts GOOGL, AYA, PXD, LYB, MDCO
• No longer shows TCO, VRTX, TLRD, WBA, AET

SACHEM HEAD

• Reports new stakes in ADSK, MYL
• Boosts AGN, AKRX, TWC, FIS
• Cuts CDK, PTC, ZTS
• No longer shows APD, FOXA

SANDELL ASSET

• Reports new stakes in ARG, YOKU, FCE/A, ABG, CIT
• Boosts CVC, TVPT
• Cuts BOBE, VSLR, SLH, VIAV, ALLY
• No longer shows BKD, QCOM, WIN, DK, SUNE

SOROS FUND MGMT

• Reports new stakes in SYF, HYG, CPGX, MPC, GOOGL
• Boosts LVLT, EQT, LYB, MCD, DAL
• Cuts YPF, AGN, FB, CIT, TWC
• No longer shows VIPS, NEE, SLB, NRG, LUV

STARBOARD VALUE

• Reports new stakes in NYRT, CI, LNCE
• Boosts BAX, MEG, M
• Cuts ODP, WRK, CW, ACM
• No longer shows GIS, LXU, TSRA, AGN, MSGN

TEMASEK

• Reports new stakes in SYF, JD, TOUR, MON, REGN
• Boosts GILD, BMRN
• Cuts Q, BABA
• No longer shows HXL

TIGER GLOBAL

• Reports new stakes in AAPL, PCLN, QSR, SQ
• Boosts VIPS, JD, CHTR, TWC, SPLK
• Cuts ATHM, ETSY, VDSI, BABA, MA
• No longer shows KATE, EROS, IBM, HDP
• NOTE: Feb. 16, Tiger Global Loaded Up on Apple, Priceline Stock in Last Quarter

THIRD POINT

• Reports new stakes in CB, MS, AXTA
• Boosts DOW, SJM, TWC
• Cuts YUM, KHC, EBAY, CWEI, STZ
• No longer shows TMUS, NXPI, IAC, XON
• NOTE: Feb. 12, Loeb’s Third Point Reduced Yum! Brands Stake Last Quarter

TRIAN FUND

• Boosts MDLZ, PNR
• Cuts DD, GE
• No longer shows IR, CC

TUDOR INVESTMENT

• Reports new stakes in CSRA, HPY, LH, KING, EEM
• Boosts ULTI, ADP, CSC, EFX, IYR
• Cuts NCR, WDAY, FB, SPLK, PCLN
• No longer shows MRKT, SINA, GE, PG, ADS
• NOTE: Feb. 16, Trian Exits Ingersoll-Rand, Chemours, Reduces GE, DuPont Stakes

VALUEACT

• Cuts HAL
• No longer shows AXP

VIKING GLOBAL

• Reports new stakes in PCLN, CMG, ENDP, PFE, BIIB
• Boosts TEVA, NFLX, PXD, QUNR, AVGO
• Cuts WBA, MA, LYB, KSU, AET
• No longer shows SEE, MHK, HLT, HOT, ILMN
• NOTE: Feb. 1, Encana Holder Viking Global Reports 6.5% Passive Stake; comes afer Viking’s recent filings for RRC, SWN, COG

WILLIAM STIRITZ

• Cuts HLF; see story from yday