Initial results for the Q1 2012 Heat Map are now in.  You can see the full results at http://whalewisdom.com/report/heat_map.  106 active filers were used for the calculation.  The average PE of the top 100 stocks is 21 and the average dividend yield is 1.85%.

Philippe Laffont's hedge fund, Coatue Management, disclosed a new position in VMED through an SEC filing today. As of May 2nd, Coatue owned 14,463,301 shares or 5.21% of VMED.

From Yahoo Finance, "Virgin Media Inc., through its subsidiaries, provides entertainment and communications services in the United Kingdom."

Seth Klarman's hedge fund Baupost Group filed their March 31, 2012 13f filing on Friday.  At the end of the quarter Baupost had 20 positions valued at $2,956,954,000.

New Positions: none

Sold out of 3 positions:

• GNW (previously 1.96% of their portfolio)
• PDLI (previously 1.49% of their portfolio)
• TRGT (previously 1% of their portfolio)

Increased shares held in 3 positions:

• IDIX (2.73% of portfolio up from 1.27%)
• NG (2.43% from 1.90%)
• THRX (9.6% to 9.42%)

Decreased shares held in 5 positions:

• ALR (0.12% of portfolio from 1.38%)
• BP (14.18% from 15.37%)
• HPQ (13.9% from 14.48%)
• MGAM (0.22% from 0.60%)
• MSFT (7.64% from 9.34%)

While the Q4 2011 13f filing data is now stale, enough early Q1 2012 filings have come in as well as a couple of 13G filings that indicate possible winners and losers in today's action.

Winners in Arena Pharmaceuticals (ARNA)

Both Blackrock Inc and Wellington Management filed 13G's no the 13th and 14th of February indicating large positions in ARNA.  Since 13G's must be filed 10 days after any purchase or sale by owners of more than 5% of the stock we can assume both funds still hold their shares.  Early Q1 2012 13F's show State Street, Bank of New York Mellon, the State of New Jersey Pension Fund, Smith Asset Management, Schwab Charles Investment Management, Oxford Asset Mangement, Rhumbline Advisors, Metropolitan Life, Nationwide Fund Advisors and Bailard Inc (through call options) all held over 100,000 shares in ARNA as of 3/31.  Though no fund so far has ARNA representing more than a fraction of 1 percent of their entire 13f portfolio.

Losers in JPMorgan Chase (JPM)

Blackrock filed a 13G on 2/13 disclosing a 213,278,198 share (5.61%) position in JPM.  From 13f data so far JPM represents over 5% of at least 6 filer's portfolios.  Ruffer LLP (13.48%), Grisanti Brown & Partners (10.38%), Alpine Investment Management (7.32%), Grabill Bank (6.38%), Wright Private Asset Management (5.31%), and Anderson Hoagland (5.06%).   At least 79 filer's so far have JPM as at least a top 5 holding. All of this information and more is available for free using Whalewisdom fund and stock tools linked to throughout this article.

Popular funds Valiant Capital Management, Libra Advisors, and Tweedy Browne Co have all filed their 13F reports a little early.

The overall market value of Libra's holdings decreased from $339,496,669 to $329,002,516 16 buys versus 19 sales. Valiant's 13f market value went from $831,212,007 to $884,430,744 with 4 buys against 15 sales. Tweedy Browne's 13f market value went from $2,856,455,026 to $2,752,915,680 with 8 buys against 39 sales.

New Buys

Libra Advisors added 3 new stocks, Novadaq Tech (NVDQ), Brigus Gold Corp (BRD), and eBay (EBAY) representing 1.14%, 0.66%, and 0.31% of the overall 13f portfolio.  They also added to 13 positions including significant increases in Newmont Mining, Gran Tierra Energy and Rubicon Minerals.

Valiant Capital purchased 3 new stocks, the largest being the SPDR S&P 500 ETF representing only 0.53% of their overall 13f portfolio.  Valiant also made an additional large investment in one of their existing holdings, Charles Schwab, buying 2,527,879 additional shares.

Sells

Libra Advisors sold out of 9 stocks including Salesforce and Probe Mines.  They also trimmed holdings in 10 stocks with big reductions in basic materials stocks: Extorre Gold Mines, Aurico Gold, Silver Wheaton, Taseko Mines and Primero Mining.

Valiant closed out positions in Health Net and Adobe with the former having been 5.69% of their overall Q4 2011 portfolio and the latter having been 3%.    Valiant also reduced exposure to 13 other holdings with Apple being the largest drop at 27% though it's still their #1 position.

George Soros' Soros Fund Management LLC has released a new 13G filing disclosing ownership of 4,162,494 shares of DRIV. This is an increase of 1,078,034 shares over what was reported on 3/29/12.  Soros now has a 10.13% stake in DRIV as of May 4th.

Per Yahoo Finance, Digital River Inc "provides end-to-end global cloud-commerce and marketing solutions."

Steven Cohen's SAC Capital Advisors released two new 13G filings today disclosing a new position in Zillow (Z) and additional holdings in Sequenom (SQNM).  SAC Capital now holds 1,011,501 shares (5%)of Zillow as of May 7th and 6,128,919 shares (5.4%) of SQNM as of May 7th. The SQNM holdings is an increase of 6,096,154 shares over the last reported holdings on 12/31/12.

Per Yahoo Finance, Zillow, Inc "engages in the operation of a real estate information marketplace in the United States".  Sequenom Inc "provides products, services, diagnostic testing, applications, and genetic analysis products that translate the results of genomic science into solutions for biomedical research, translational research, molecular medicine applications, and agricultural and livestock research."

From a recently disclosed 13G filing it was revealed that J. Carlo Cannell has reduced his holdings in SUNH to 1,213,745 shares. The transaction took place on March 23rd. This is down 381,759 shares from what was reported as recently as 2/13/2012, but Cannell still retains a 4.8% stake in the company.

From Yahoo Finance, Sun Healthcare Group "provides health care services primarily for senior population in the United States".

J. Carlo Cannell started Cannell Capital, a hedge fund,  in 1992.

Daniel Loeb's hedge fund Third Point has filed a Schedule 13G revealing that the fund has sold out of XRM.  Third Point had held 1,700,000 shares as recently as 12/31/2011.  The final transaction took place on May 2nd.

Steven Cohen's SAC Capital Advisors has filed a 13G disclosing ownership of 3,143,160 shares of WLT as of May 3rd.  This gives SAC Capital a 5% stake in WLT and is an increase of 2,423,246 shares over what was reported on 12/31/2011.

Scoggin Capital Management released a new 13G disclosing a 1,999,000 share position in OAK.  This gives Scoggin a 6.5% stake in OAK and comes a day after David Einhorn's Greenlight Capital revealed a similar 1,679,750 share (5.5%) stake in OAK.  Scoggin's transaction took place on April 12th, the day of OAK's IPO (why so long to publically disclose it?), while Greenlight's occurred on April 20th.

Scoggin Capital is a hedge fund founded in 1988 and run by Craig Effron and Curtis Schenker.

From Yahoo! Finance, Oaktree Capital Group "operates as a global investment management firm that focuses on alternative markets."  OAK went public on April 12th.