Fir Tree Goes Big on Tech, Consumer Stocks in Q3: Hewlett Packard (HPE), TiVo (TIVO), More

#3 TiVo Corp (NASDAQ:TIVO)

– Shares Held By Fir Tree (as of September 30): 7.24 Million

– Value of the Holding (as of September 30): $81.87 Million

Like the two stocks discussed previously, TiVo Corp (NASDAQ:TIVO) also made its debut in Fir Tree’s equity portfolio during the third quarter. Shares of the video technology and cloud-based software company declined heavily last year, but have recouped most of those losses in 2016 and are currently trading up by 20% year-to-date. For its fiscal 2016 third quarter, TiVo Corp (NASDAQ:TIVO) reported net income of $49.9 million on revenue of $153.1 million, compared to a net loss of $18.5 million on revenue of $144.9 million that it had reported for the same quarter of last year. The year-over-year jump in net income and revenue experienced by the company was primarily due to the completion of its TiVo acquisition and its license agreement renewal with DISH Network .

#2 Microsoft Corporation (NASDAQ:MSFT)

– Shares Covered Under The Call Options Held By Fir Tree (as of September 30): 1.7 Million

– Value of the Holding (as of September 30): $97.92 Million

Although Fir Tree reduced its stake in Microsoft Corporation (NASDAQ:MSFT) by 11% to 1.52 million shares during the third quarter, it also made a short-term bullish bet on the company during that time by buying Call options. That bet seems to have worked out in favor of the fund, as shares of the software giant broke above the $60 barrier for the first time last month after the company reported strong quarterly numbers. They are now trading up by 5.65% for the current quarter. The 20% rise in Microsoft Corporation (NASDAQ:MSFT)’s stock this year has lowered the annual dividend yield of the stock, which at present stands at 2.56%. Nevertheless, most investors expect the company to hike its quarterly dividend in the coming months, which could again push its forward yield above 3%. According to analysts, Microsoft’s cloud business Azure will continue to do well in the coming quarters despite the intense competition in the cloud space, due to its compatibility with different applications and flexibility.

#1 Molson Coors Brewing Co (NYSE:TAP)

– Shares Held By Fir Tree (as of September 30): 1.14 Million

– Value of the Holding (as of September 30): $125.44 Million

Fir Tree increased its stake in Molson Coors Brewing Co (NYSE:TAP) by 32% during the third quarter, which raised the position three spots in the fund’s portfolio to become its eighth largest holding in terms of value at the end of September. Shares of the Colorado-based brewing major made their lifetime high at $122.19 last month, but have declined considerably since then and are now trading up by only 5% for the year. On October 11, Molson Coors Brewing Co (NYSE:TAP) announced that it had completed the acquisition of SABMiller’s 58% stake in the MillerCoors joint venture. Most analysts who track Molson Coors are bullish on it. The stock sports an average rating of ‘Buy’ and an average price target of $125.60 from the 13 leading analysts and research firms on the Street who track it, suggesting potential upside of over 27%.

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Disclosure: None