Andrew J.M. Spokes is the manager of Farallon Capital Management, after the retirement of Thomas Steyer (below) in 2012. Farallon was founded in 1986 by Steyer, who was a former employee at Morgan Stanley, working in the mergers and acquisitions department. Recently, the hedge fund disclosed all of its second-quarter equity positions in a 13F filing with the Securities and Exchange Commission.
It is important to pay attention to the best picks of the best hedge funds; discover why here. Let’s take a look at Spokes and his team’s top five positions from Q2.
Up first is News Corp (NASDAQ:NWSA), in which the hedge fund holds a $301.7 million position, or about 9.3 million shares. During the second quarter, Farallon increased its stake in News Corp (NASDAQ:NWSA) by 26% or about 1.9 million shares. The stock has an almost flat year-to-date return, which amounts to about 0.5%. Its forward P/E is 31.
In Yahoo! Inc. (NASDAQ:YHOO), Andrew Spokes’ hedge fund disclosed ownership of 11.3 million shares, the value of the stake amounting to $283.1 million. In the previous filing, Farallon’s stake in Yahoo! Inc. (NASDAQ:YHOO) involved 9.7 million shares, and was worth $229.2 million. Yahoo’s stock has posted a year-to-date return of over 40%, while its forward P/E and PEG ratios are at 16.6x and 0.7 respectively–both very attractively priced.
Hudson Pacific Properties Inc (NYSE:HPP), and Dell Inc. (NASDAQ:DELL) are the next two companies in Farallon’s 13F. In this way, the hedge fund reported 12.2 million shares of Hudson Pacific Properties Inc (NYSE:HPP) and 16.8 million shares of Dell Inc. (NASDAQ:DELL). The value of the stakes amount to $260.3 and $224.2 million respectively. The stock of Hudson Pacific Properties Inc (NYSE:HPP) has a year-to-date return of almost -1%, while Dell Inc. (NASDAQ:DELL)’s YTD return amounts to over 35%.
Lastly, we have the 1.8 million shares held by Farallon in Charter Communications, Inc. (NASDAQ:CHTR), worth $223 million. It is a new position for Spokes & Co, who join peers Stephen Mandel’s Lone Pine Capital, and Philippe Laffont’s Coatue Management in the company.
With 82 positions, the hedge fund’s Q2 13F amounts to $5.2 billion, up from its first-quarter value of $4.9 billion.
Continue reading Insider Monkey for more updates as the filings roll in.
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