The latest 13F season is commencing, when many money managers issue required reports on their holdings. It can be worthwhile to pay attention, as you might get an investment idea or two by seeing what some major investors have been buying and selling.

For example, consider D. E. Shaw & Co. Founded by David E. Shaw , it has a reportable stock portfolio totaling $73.3 billion in value as of Dec. 31, 2013. Shaw is known as a math wizard and a quantitative-investing pioneer. His firm is said to be extremely selective when hiring, reportedly accepting about one in 500 applicants -- Amazon.com CEO Jeff Bezos once made the cut.

D. E. Shaw's latest 13F report shows that it reduced its holdings of Wendy's Company (WEN 1.62%), Chimera Investment Corporation (CIM 0.96%), and Boston Scientific Corporation (BSX -0.12%).

Wendy's is not the biggest name in fast food, but its stock has averaged annual growth of about 20% over the past five years. The company has been transforming and rejuvenating its brand with updated decor and new offerings such as a popular Pretzel Bacon Cheeseburger. Its last quarter featured earnings up 25% over year-ago levels, topping expectations by a penny. Still, some worry that without additional highly successful new offerings, future sales might flag. Wendy's stock yields 2%.

Chimera Investment draws investors' attention with its 11.7% dividend yield. It's a mortgage REIT, profiting via mortgage-backed investments. Thus it's quite vulnerable to interest rate swings and got a boost recently when new Fed chair Janet Yellen said that she aims to keep rates low for the time being. Chimera's stock has been in penny-stock territory lately, and it may not be able to maintain its listing on the New York Stock Exchange. It has also been the subject of some accounting-related head-scratching.

Stent and defibrillator specialist Boston Scientific (BSX -0.12%) topped earnings expectations in its fourth quarter, but stent sales were disappointing. Indeed, profits have been a bit elusive for the company in the past few years, though some see it successfully turning itself around. Like its peers, the company has been investing heavily in research and development, and its newer technologies, such as neurotech devices, have been paying off. Endoscopy sales recently rose 8%.