Aecom (ACM), Life Time Fitness, Inc. (LTM): David Einhorn’s Small Cap Picks Historically Beat the Market

In Take-Two Interactive Software, Inc. (NASDAQ:TTWO), Greenlight disclosed holding 4.70 million shares, valued at $119.76 million. The $2.30 billion developer of video games represents one of the fund’s long-term holdings, which have been in the fund’s equity portfolio for more than one year. Meanwhile, the stock gained more than 57% since the beginning of 2014. For the fiscal 2015, ended March 31, Take-Two Interactive Software, Inc. (NASDAQ:TTWO) reported revenue of $1.08 billion, down from $2.35 billion, but it also disclosed record sales for its Grand Theft Auto V, which was released by its subsidiary Rockstar Games in the fall of 2013. Since the release, the company has shipped around 52 million copies of the game across PlayStation 4, PlayStation 3, Xbox One, Xbox 360 and PC platforms. However, the company also turned to a loss of $3.48 per share, from an income of $3.20 per share a year earlier, although the decline is impacted by the deferral of net revenue and cost of goods sold impacted by a sell-in of some titles during the last two fiscal quarters. Other two shareholders of Take-Two Interactive Software, Inc. (NASDAQ:TTWO) are Robert Bishop’s Impala Asset Management and Richard Mashaal’s Rima Senvest Management, which own 3.67 million shares and 2.22 million shares respectively.

CONN’S, Inc. (NASDAQ:CONN) is another long-term small-cap pick of Mr. Einhorn. As of the end of March, Greenlight disclosed ownership of 3.56 million shares valued at $107.89 million. Conn’s stock has been losing ground throughout last year and dropped by 41% on December 9 on the back of weak financial results for the third quarter of fiscal 2015. However, since the beginning of the year, it has been recovering and is up by 98% year-to-date, although it is still 28% in red over the last 52 weeks. The specialty retailer posted a loss of $0.08 per share for the third quarter of fiscal 2015, affected by additional provisions for credit losses. Since then, CONN’S, Inc. (NASDAQ:CONN) addressed the issue with deliquency credit rates and even though it affected the sales, the company posted strong results with higher year-on-year revenue for fiscal 2015. The largest shareholder of CONN’S, Inc. (NASDAQ:CONN) among the funds we track is Christian Leone’s Luxor Capital Group, which owns 7.59 million shares as of the end of March.

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