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Technology Stocks : Interdigital Communication(IDCC)
IDCC 341.33+1.1%Dec 3 3:59 PM EST
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To: Jane4IceCream who wrote (3018)1/3/2000 3:05:00 AM
From: Glenn Petersen  Read Replies (1) of 5195
 
There were probably a bunch of happy guys and gals in Milwaukee over the weekend. Heartland Advisors through its various funds owns 8,654,600 shares, or approximately 17.9% of IDC. I have not been able to find the disclosures that would tell me how they have these shares specifically allocated amongst their funds (they manage public as well as private money) but I have been able to determine that over half of these shares are in the Heartland Value Fund.

As of September 30, 1999, 2.22% (approximately $24.2 MM) of the fund's assets were invested in IDC. Divide the $24.2 MM by $5.50, IDC's closing price on that date, and you have 4.4 MM shares.

What the fund a seller this week? I don't think so. The NAV of the fund went up 14.21% last week, from $31.96 per share to $36.50 per share. The assets of the fund were at $1.1 billion at the end of September. Add about $90.0 MM for the IDC move from $5.50 to $26.50 and toss in another $150.0 MM (a complete guess on my part) for additional inflows and capital gains. Assume they started the week with $1.34 billion in assets. IDC pops $48.50 and adds $213.4 MM in value. Divide the $213.4 MM by $1.34 billion and you have 15.93%. Close enough for both horseshoes and my purposes.

Gotta wonder what these guys are gonna do. Making money this fast must make them mighty nervous.

Information on Heartland Advisors can be found at:
heartlandadvisors.com
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