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Hedge-Fund Industry’s Dell Stake Tripled in Last Quarter

Bloomberg – Hedge-fund managers almost tripled their holdings of Dell Inc. (DELL) common shares in the second quarter while traditional mutual-fund firms cut their stakes in the computer maker, a trend that could boost Michael Dell’s bid to take his company private.

Money managers classified as hedge funds increased their portion of Dell’s 1.78 billion shares outstanding to 18 percent as of June 30 from 6.5 percent as of March 31, according to holder reports filed as of yesterday with the U.S. Securities and Exchange Commission. Elliott Management Corp., the hedge-fund firm founded by Paul Singer, bought almost 22 million shares during the period, and Abrams Capital Management LP, a Boston-based firm run by David Abrams, purchased 15 million.

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