Photo: A Little Hope
Don Chu, who was just arrested in connection to the insider trading scandal, is in trouble for arranging meetings “for hedge funds to get tips on companies including Atheros Communications, Broadcom Corp, and Sierra Wireless,” according to Reuters.Curious, we decided to look at the 13-f filings of the funds that have been named in the investigation to see if any of them had invested in Broadcom, Sierra, or Atheros recently.
Here’s what we found. And bear in mind, it’s certainly possible that their trading in these stocks is 100% unrelated.
Diamondback, a fund that has been named and raided in the investigation, bought and sold Broadcom twice.
The fund was holding Broadcom stock in their holding report for the quarter that ended: March 31, 2008.
- BROADCOM CORP ~$5.2 million (271,600 shares)
Diamondback then sold out completely of the stock the following quarter, but the next quarter, Diamondback re-bought ~$650,000 worth of Broadcom shares (~35,000 shares). The fund re-sold it again the following quarter.
Loch Capital, a fund that has been named and raided in the investigation, was holding Broadcom stock in their holding report for the quarter that ended: March 31, 2008.
- BROADCOM CORP ~$33 million (~1,721,000 shares shares)
Loch Capital sold out completely of the stock the following quarter, ending June 30, 2008, according to their holding report filed with the SEC.
SAC Capital sold out of the stock this year. Cohen steadily decreased his Broadcom shares from May 2008 according to SEC filings.
Here’s a chart that shows Broadcom’s performance in 2008:
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