Hedge Fund D.E. Shaw Updates Lear Position

| About: Lear Corporation (LEA)

Hedge fund firm D.E. Shaw & Co recently filed a 13G with the SEC in regards to shares of Lear Corporation (NYSE:LEA) due to activity on March 11th, 2010. In the filing, we see that they now have a 5.1% ownership stake in LEA with 2,202,816 aggregate shares owned. This share total includes warrants that are exercisable into 421,409 shares and preferred stock convertible into 70,238 shares.

This is an increase in their position because back on December 31st, 2009, they owned 1,310,101 shares. Over the past three months they've gained exposure to 892,715 more shares and as such have increased their position by 68.1%. D.E. Shaw was recently listed as one of the world's largest hedge funds and its founder David Shaw recently appeared on Forbes' billionaire list.

Taken from Google Finance, Lear is "a supplier of automotive seat systems and electrical power management systems with a global foot printing, including 35 countries."

For more research from this multifaceted firm, head to D.E. Shaw's insight on leverage. For more of the latest portfolio maneuvers from prominent investment managers, head to our hedge fund tracking series.

Original post