In the filing, T2 has a $176 thousand stake in Ambac and $388 thousand in MBIA.
Both are new holdings since the previous filing.
Tilson's clarification:
"The reason MBIA and Ambac show up as longs in our 13-F is that it can be hard to get the borrow on the short, so when we can get the borrow, we short more than we want, and then buy the stock long to bring the net short position down to the level we want. Then, every time we want to increase our short position, we don't have to get the borrow -- instead, we simply sell down the long position."
Disclosure ("none" means no position):None
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