Allergan Inc. (AGN), Anadarko Petroleum Corporation (APC), DISH Network Corp (DISH): Thomas A. Giovine Loves These Stocks

As the 13F season continues, let’s take a look at Giovine Capital’s recently disclosed long equity positions for the second quarter of 2014. This hedge fund, founded and managed by Thomas A. Giovine, who previously worked at Morgan Stanley and follows an activist strategy, acknowledged holding more than 45 long equity positions, with a market value of roughly $182 million. Over the quarter, the fund started five new stock positions, increased its stakes in another four, and sold out of eight companies. Let’s take a look at some of its top stakes for the second quarter of the year.

Giovine’s most valuable equity position is a newcomer in its portfolio: Allergan Inc. (NYSE:AGN). Between April and June, the fund acquired 80,000 shares of the $45.6 billion market cap multi-specialty health care company. This position is worth more than $13.5 million, and accounts for 7.4% of the fund’s equity portfolio’s total value.

Allergan, Inc. (NYSE:AGN)

Pershing Square, run by Bill Ackman, is the largest hedge fund shareholder of record. Around mid-July, the fund confirmed holding 28.88 million shares of Allergan Inc. (NYSE:AGN), which account for 9.7% of the company’s outstanding common stock. Allergan Inc. (NYSE:AGN) has been one of the main drivers of Pershing Square’s above-average returns in the first half of the year, as it gained more than 52% between January 2 and June 30.

The second company on this list is Anadarko Petroleum Corporation (NYSE:APC), a $54.9 billion market cap oil and gas exploration and production company that saw Giovine boost its exposure by 7% over the second quarter. The fund now owns 69,625 shares of Anadarko Petroleum Corporation (NYSE:APC), worth roughly $7.6 million.

Although the stock is already up more than 36% year-to-date, analysts expect Anadarko Petroleum Corporation (NYSE:APC) to continue to rise. The median target price of $126.00 per share implies a 16% upside from the current price point of $108.51 per share (August 11 2014).

Another big hedge fund that disclosed a big stake in Anadarko Petroleum Corporation (NYSE:APC) for the second quarter of 2014 is Jean-Marie Eveillard’s First Eagle Investment Management. The fund disclosed ownership of 2.78 million shares, following the sale of 351,514 shares, probably seeking to capitalize from the steep price increase that took place in early-April.

Last is DISH Network Corp (NASDAQ:DISH), a $28.87 billion market cap company that provides a direct broadcast satellite subscription television service in the United States. I should highlight that, despite an on-average valuation, DISH Network Corp (NASDAQ:DISH) boasts industry leading returns on equity of 112%, versus an industry average of 21%-22%.

Over the second quarter, Giovine upped its participation in the company by 36%, and now owns 111,136 shares of DISH Network Corp (NASDAQ:DISH), worth approximately $7.2 million.

On the opposite trend, Mario Gabelli’s Gamco Investors trimmed its exposure by 3% over the second quarter. Still, the fund owns 3.27 million shares of DISH Network Corp (NASDAQ:DISH), worth more than $213 million.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned

Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations 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!