Basic and Full members will begin receiving customized alert emails beginning tomorrow that alert them when a fund manager(s) for which they are tracking a clone on their “Tracked Clone” list files a Form 13G or 13D with the SEC. For the uninitiated, institutional managers who purchase 5% or more of the outstanding stock in a public company must file either a 13G or 13D filing to disclose the transaction. The difference between the two filings (G or D) has to do with the manager’s intent – if the manager intends to influence the direction of the company they must file a 13D, if they intend to stay passive then they must file a 13G.
Here’s the way the alerts work. If you are tracking a clone by any single manager, say Baupost, then each time Baupost files either a 13G or 13D it will be included in your customized alert. In addition, if you’re tracking a clone for any fund group, say Tiger Cubs, then when any manager in that group files you will also be alerted to that filing. The only exception is for the “index”, “sector picks”, “cap picks” and “international” groups. Since these groups contain over 100 managers each, we felt they were too broad to trigger their filings’ inclusion in the alert email.
Members will receive ONLY ONE email per day that aggregates all filings for manager’s they are tracking for that day. If there are no filings then no email will be sent. If you are a Basic or Full member and prefer to NOT receive these alert emails, simply sign in to your account, click the “your membership” link at the very top, then click the new “Preferences” tab to switch off the alert emails. It’s that simple.
