Don’t Miss What Segantii Just Bought During Its Crazy Stock Buying Spree

107,899 shares of Ryanair Holdings Plc (NASDAQ:RYAAY) were added to Segantii Capital Management’s portfolio during the September quarter, with the new holding being valued at $7.79 million at the end of the quarter. Ryanair was recently downgraded to ‘Hold’ from ‘Buy’ courtesy of Deutsche Bank, which is bearish on the European airline industry as a whole. However, the position has worked out thus far for Segantii, as RYAAY has gained nearly 10% in the fourth quarter, rebounding to its pre-Brexit stock price. Other hedge funds were also bullish on the stock in Q3, as the number of funds with long positions in it rose to 24 by the end of the quarter from 21 at the start of it.

Segantii Capital Management also initiated a position in Mobil’nye Telesistemy PAO (ADR) (NYSE:MBT) during the September quarter, buying 908,448 shares of the company, worth $7.08 million at the end of September. Both Citi and UBS have recently upgraded the stock to ‘Buy’ from ‘Neutral’, with UBS believing that litigation risk is now fully priced into the stock. The company now trades at a P/E ratio of just 5.33, which is lower than many of its peers. Benjamin A. Smith‘s Laurion Capital Management opened a 2 million-share position in MBT during the third quarter.

Lastly is the SPDR S&P 500 EFT Trust (NYSEARCA:SPY), in which Segantii Capital Management took a position in during the September quarter. The investment firm held 32,000 shares of the SPDR S&P 500 EFT Trust worth $6.87 million as of the end of September. The well-known SPDR S&P 500 EFT Trust is designed to track the performance of the S&P 500 Index as closely as possible. Weightings in top S&P 500 stocks like Apple, Microsoft, and Exxon Mobil are identical to the weighting of those stocks in the actual index. Naturally, the ETF has enjoyed the fruits of the broader market’s recent rally, gaining 2.5% in the fourth quarter. 89 hedge funds that we track hold about $28.19 billion worth of the ETF’s shares as of September 30, making it the most popular ETF among them.

Disclosure: None