Halliburton Company (HAL), salesforce.com, inc. (CRM) and Tata Motors Limited (ADR) (TTM): Segantii Capital’s New Favorite Stocks

Next in line is salesforce.com, inc. (NYSE:CRM), with the fund owning some 264,900 shares valued at $18.54 million, representing nearly 16.6% of its portfolio. The stock price of Segantii’s second-largest equity holding has appreciated by nearly 20% so far this year, with Brean Capital upgrading the stock last month to ‘Buy’ from ‘Hold’ and setting a price target of $85 on it, which provides an upside of about 20% to the current trading levels. salesforce.com, inc. (NYSE:CRM) recently released 20 new enterprise-targeted apps for Apple Watch which provide a broad range of services, from looking at customer profiles to keeping track of project tasks. Ray Dalio‘s Bridgewater Associates recently revealed a new position in salesforce.com of 96,923 shares in  its own 13F filing.

The third-largest new purchase and fourth-largest overall position for Segantii was Tata Motors Limited (ADR) (NYSE:TTM), as the fund bought about 178,500 shares valued at $6.22 million. The $18.71 billion automotive company, which is heavily reliant on selling Jaguars and Land Rovers in China, has come under significant pressure as the demand for those vehicles continues to dwindle in the face of a slowdown in the Chinese economy. The state-backed China Association of Automobile Manufacturers expects the growth in car sales to be the slowest since 2011. Tata Motors Limited (ADR) (NYSE:TTM) has had to lower prices in order to compete in this challenging environment and the company expects lower margins to continue through March 2016. In its financial results for the fiscal first quarter of 2016, ending March 31, 2015, the company delivered revenues of ₹610 million ($9.35 million) marking a 6% decrease from the same quarter last year, while EBITDA margin also declined to 16.1 from 18.2 in the same period a year earlier. Profit after-tax dwindled to ₹27.69 million ($420,000) from ₹53 million ($810 million). Ken Fisher‘s Fisher Asset Management is the largest shareholder of Tata Motors Limited (ADR) (NYSE:TTM) among the funds we track that have thus far filed for the June 30 period, as it held some 6.95 million shares valued at $312.96 million as of the end of June.

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