Activist Alex Denner’s Sarissa Capital Bets on Ariad Pharmaceuticals Inc (ARIA), Quest Diagnostics Inc (DGX) & Others

Alex Denner’s Sarissa Capital disclosed its holdings in its latest and first 13F filings. The hedge fund has invested $267.02 million in equity portfolio and is focusing mainly on the Healthcare sector.

The hedge fund holds more than 30% of its portfolio value in Ariad Pharmaceuticals Inc (NASDAQ:ARIA). The fund has 12 million shares, worth $81.84 million. Ariad is facing difficulties since the FDA asked it to withdraw its only drug Iclusig from the market in October, 2013. It was allowed to continue the sales but to a very small group of patients. Sarissa holds a 6.2 % stake in the company and has asked to nominate several directors to the company’s board.

Ariad Pharmaceuticals, Inc. (NASDAQ:ARIA)

The second largest holding is in Quest Diagnostics Inc (NYSE:DGX). The hedge fund holds 14% of its equity portfolio in the company, owning 700,000 shares worth $37.48 million. Quest is expected to be hit by the provisions of the Affordable Care Act. It has already lost 3% of revenues in 2013 from reimbursement changes.

The third largest holding is in Idenix Pharmaceuticals Inc (NASDAQ:IDIX). The fund has invested $30.20 million in 5.05 million shares of the company. Baupost Group, managed by Seth Klarman, also holds a substantial holding in Idenix. The fund owns 53.33 million shares equaling 35.38% of the common stock. Baupost has been granted observer rights with respect to meetings of the board of directors of the company and the committees of the company’s board of directors.

With a $23.37 million stake, which amasses 2.54 million shares, Vivus Inc (NASDAQ:VVUS) is the fourth largest holding of Sarissa. Sarissa partnered with First Manhattan to wage a proxy battle at Vivus and succeeded in replacing the company’s Chief Executive besides placing six nominees on the company’s board.

The fund has also invested $20.02 million in 400,000 shares of Merck & Co Inc (NYSE:MRK). Merck is planning to sell its portfolio of consumer brands. It has already screened the preliminary offers and is waiting for the final bids. The sale is expected to yield $10 billion to the company.

Disclosure: none

Recommended Reading:

Renaissance Technologies Loves These Stocks: McDonald’s Corporation (MCD), Novo Nordisk A/S (ADR) (NVO) & Others

Kyle Bass and Hayman Capital’s Top Stock Picks: General Motors Company (GM), Vodafone Group Plc (ADR) (VOD) & Others

Valiant Capital’s Top Picks From The Latest 13: Apple Inc. (AAPL), Liberty Global plc (LBTYA) & More

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!