Four New Positions in Ken Squire’s 13D Management’s Equity Portfolio

Ken Squire‘s 13D Management is probably one of the most interesting funds to follow. The key point of its strategy involves tracking 13D filings of other investors. As 13D states on its website, they invest primarily in companies that are revealed in 13D filings of activist investors, focusing on companies with over $1 billion in market cap. In the latest round of 13F filings, 13D management revealed an equity portfolio worth $217.96 million, boosting it from $134.77 million reported in the previous quarter. The fund has solidified its exposure to most of its holdings, including the largest positions, which are represented by Howard Hughes Corp (NYSE:HHC), Valeant Pharmaceuticals International Inc (NYSE:VRX) and Unit Corporation (NYSE:UNT).

In Howard Hughes, 13D revealed a $12.92 million stake, which contains 90,600 shares, up by almost 70% on the quarter. In Valeant Pharmaceuticals International Inc (NYSE:VRX) and Unit Corporation (NYSE:UNT), the fund currently owns 96,200 and 137,300 shares respectively.

However, in this piece we will discuss the new positions initiated during the first quarter and reported in 13D Management’s latest 13F. The first one is represented by Adobe Systems Incorporated (NASDAQ:ADBE), of which Ken Squire’s fund revealed ownership of 91,600 shares, valued at $6.02 million. Jeff Ubben‘s ValueAct Capital is one of the largest shareholders of Adobe Systems Incorporated (NASDAQ:ADBE), and is also an activist investor, which owns 25.31 million shares as of the end of the first quarter. The stock of Adobe Systems Incorporated (NASDAQ:ADBE) has gained around 9% year-to-date.

Adobe Systems Incorporated (NASDAQ:ADBE)

Next on the list comes URS Corp (NYSE:URS), in which 13D Management revealed a $4.95 million stake, which amasses 105,100 shares. An important activist investor of this $3.1 billion engineering and construction company is Barry Rosenstein‘s Jana Partners. Jana reported a $317.45 million position in URS Corp (NYSE:URS), which contains 6.75 million shares, which however is down by 437,700 shares over the quarter. Jana Partner’s stake amasses over 9% of the company’s stock, and it has appointed several directors to URS Corp (NYSE:URS)’s board earlier this year.

In Juniper Networks, Inc. (NYSE:JNPR), 13D Management revealed holding 151,600 shares, valued at $3.90 million. One of the hedge funds that went activist on Juniper Networks, Inc. (NYSE:JNPR) during the first quarter is Elliott Management, led by Paul Singer, which boosted its stake to 37.2 million shares, from around 2.6 million held earlier. Elliott’s stake has a value of $957.34 million, according to its latest 13F. The stock of Juniper Networks, Inc. (NYSE:JNPR) has raised by over 10% since the beginning of the year.

Mr. Squire’s fund also added Dresser-Rand Group Inc. (NYSE:DRC) to its equity portfolio during the first three months of the year, revealing a $3.61 million stake, which contains 61,800 shares. ValueAct also boosted its activist stake in Dresser-Rand Group Inc. (NYSE:DRC) during the first quarter, currently holding around 5.00 million shares, worth $292.54 million. Iridian Asset Management, led by David Cohen and Harold Levy, is also bullish on Dresser-Rand Group Inc. (NYSE:DRC), reporting ownership of 4.88 million shares, worth $285.31 million.

Disclosure: none

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 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!