In its latest 13F filing, GLG Partners, managed by Noam Gottesman, disclosed equity position as held at the end of June, 2014. The fund reported holding 368 positions, with a total market value of about $4.2 billion. The filing revealed that GLG Partners started more than 120 new positions and reduced holdings in more than 80 stocks over the quarter. In this article, we will talk about three top long equity positions from the fund’s equity portfolio for the second quarter.
Actavis plc (NYSE:ACT) is represented as the largest holding, in which GLG Partners revealed a $104.81 million stake, containing 469,888 shares of the company. Previously, the fund held 537,833 shares of Actavis plc (NYSE:ACT), a pharmaceutical company based in Dublin, Ireland. The second quarter of 2014 was quite good for the company, which reported a 34% increase in net revenue to $2.67 billion, compared to $1.99 billion in the same quarter 2013. Its diluted earnings per share, on a non-GAAP basis, rose to $3.42, compared to $2.01 per diluted share in the same period of last year, according to a press release.
Next on the list is Tableau Software Inc. (NYSE:DATA), in which the fund disclosed owning 1.08 million shares, with a reported value of $77.30 million. At the end of the first quarter, the fund reported ownership of 1.23 million shares of the company. For the second quarter of 2014, the company posted total revenues of $90.7 million, representing an increase of 82% from the same quarter of 2013.
Tableau Software Inc. (NYSE:DATA), which is a software company, has a market cap of $4.1 billion. Shares of the company traded down by 2.86% to $58.51 on Friday. Analysts have set the consensus average target price of $87.50 for the stock. The consensus average recommendation is ‘Overweight’. Other largest shareholders of the company include Empire Capital Management, led by Scott Fine and Peter Richards, which reported ownership of 810,000 shares, and Donald Chiboucis’ Columbus Circle Investors, which revealed holding 1.31 million shares in its recent 13F.
Third place is occupied by Forest Laboratories Inc. (NYSE:FRX), in which GLG Partners boosted its stake to 752,753 shares, worth $74.52 million, from 117,711 shares held previously. Actavis plc (NYSE: ACT) last month announced that it acquired Forest Laboratories Inc. (NYSE: FRX) in a cash and equity transaction valued at about $28 billion. Brent Saunders, formerly the CEO and president of Forest Laboratories Inc. (NYSE: FRX), was named the CEO and president of Actavis plc (NYSE: ACT).