Deepak Gulati’s Argentiere Capital’s Top Stock Picks

Zug, Switzerland-based Argentiere Capital is an alternative investment management firm, which was founded by Deepak Gulati. Mr. Gulati is a former head of global equity proprietary trading at JPMorgan Chase & Co. In its latest 13F filing, Argentiere Capital revealed holding a total of 47 positions as of the end of second quarter of 2014. The value of the fund’s equity portfolio totaled $219.8 million, up from $109.2 million in the previous quarter. The fund focuses on investing healthcare and services stocks.

Deepak Gulati Argentiere Capital

From Argentiere Capital’s portfolio, we have picked top five holdings, in term of value. The first on the list is Time Warner Cable Inc. (NYSE:TWC), in which the fund boosted its stake to 325,000 shares, worth $47.9 million, from 300,000 shares held earlier. Time Warner Cable Inc. (NYSE:TWC) is a providers of video, high-speed data and voice services in the United States. Time Warner Cable Inc. (NYSE:TWC)’s largest shareholders include Canyon Capital Advisors, managed by Joshua Friedman and Mitchell Julis, and William Duhamel’s Route One Investment Company, holding around 2.0 million shares and 736,500 shares, respectively.

The fund revealed ownership of a new stake of $42.2 million in Allergan Inc. (NYSE:AGN), the position containing 249,200 shares of the company. Allergan Inc. (NYSE:AGN) is a multi-specialty health care company having a market cap of $48.7 billion. Last month, the company announced that its board of directors rejected Valeant Pharmaceuticals Intl Inc.’s (NYSE:VRX) unsolicited exchange offer to acquire all outstanding common shares of Allergan. Aside from Argentiere Capital, Samuel Isaly’s Orbimed Advisors holds 2.27 million shares, and Jonathon Jacobson’s Highfields Capital Management owns 1.52 million shares of Allergan Inc. (NYSE:AGN).

In Covidien plc (NYSE:COV), Argentiere Capital revealed a new position, owning 438,000 shares, with a reported value of $39.5 million. With a market cap of $39.8 billion, Covidien plc (NYSE:COV) is a global health care products company. Other largest shareholders of the company include First Pacific Advisors LLC, managed by Robert Rodriguez and Steven Romick, which holds 5.18 million shares, and Harris Associates, which disclosed ownership of 3.69 million shares of Covidien plc (NYSE:COV) as of the end of first quarter of 2014.

Argentiere Capital started a new position in Questcor Pharmaceuticals Inc. (NASDAQ:QCOR), in which it disclosed holding 315,468 shares, with a reported value of $29.2 million. Questcor Pharmaceuticals is a biopharmaceutical company focused on the treatment of patients with serious, difficult-to-treat autoimmune and inflammatory disorders. For the first quarter of 2014, the company posted a 68% increase in net sales to $227.1 million, compared to $135.1 million in the same of 2013. In addition to Argentiere Capital, other largest shareholder of the company include Neal C. Bradsher’s Broadwood Capital, which holds 2.25 million shares, and James E. Flynn’s Deerfield Management, which owns 1.04 million shares.

On the fifth spot is Sothebys (NYSE:BID), a new position in which the fund disclosed owning 35,400 shares, worth around $1.5 million. Sothebys is engaged in a global auction of authenticated fine art, decorative art, and jewelry, operating in auction, finance, and dealer segments.Sothebys (NYSE:BID) has a market cap of $2.69 billion. Other significant shareholders of Sothebys (NYSE:BID) include Dan Loeb’s Third Point and Richard Mcguire’s Marcato Capital Management, owning 6.65 million shares and 4.56 million shares, respectively.

Disclosure: none

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