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Here Comes the Hedge Funds

 (Image source: FedEx)

According to a report by the New York Times, the 13F fillings released on Thursday shows a sudden interest in FedEx Corporation (NYSE:FDX) by most of the most well know hedge funds. For example, Daniel Loeb’s Third Point as of Thursday has amassed two million shares of FedEx. In the same quarter, Soros Fund Management and Paulson & Company also acquired large stakes in FedEx.  George Soros’s fund acquired 1.5 million shares and an additional 375,000 call options. John Paulson’s fund acquired 646,800 shares. It’s unclear what the hedge funds will do, but whenever Loeb’s around, CEO tenure will not last. I don't know if the sudden interest in FedEx is a sign of confidence in the stock or something more sinister.