What Other Hedge Funds Are Invested In Staples & Office Depot?

Activist fund Starboard Value LP, run by Jeffrey Smith, disclosed on Thursday a new position in Staples, Inc. (NASDAQ: SPLS).

The stake comprises about 32.3 million shares, which represent about 6 percent of the company’s stock. In addition, the fund augmented its exposure to Office Depot Inc (NASDAQ: ODP) by 7 million shares, taking its holdings to 53.3 million shares, or roughly 10 percent of the company’s outstanding stock.

Several other major hedge funds still seem quite bullish on these office supply retailers.

One major hedge fund betting on both these retailers is Ken Griffin’s Citadel Investment Group. This fund owns about 1.2 million shares of Staples and 2.2 million shares of Office Depot. These stakes have a combined market value of roughly $27 million.

Two more funds with big wages on these businesses are Adage Capital Management and Millennium Management. Adage owns 970,100 Staples shares and 2.5 million Office Depot shares, while Millennium holds 834,063 Staples shares and almost 3 million Office Depot shares.