Are General Motors Company (NYSE:GM), Magna International Inc. (USA) (NYSE:MGA), MCBC Holdings Inc (NASDAQ:MCFT), and Apollo Education Group Inc (NASDAQ:APOL) stocks that you should be more interested in? One fund that is bullish on all four of them is Brian Gaines‘ Springhouse Capital Management. In this article, we will take a closer look at Springhouse’s stakes in these companies and see how the bets paid off last quarter. In addition, we’ll discuss what other funds that we track at Insider Monkey think about the companies in question.
Springhouse reported an equity portfolio of $204.48 million as of the end of September, up from $177.40 million a quarter earlier. The fund mainly invests in financial stocks, which amassed 71% of its equity portfolio at the end of the third quarter. By taking into account the fund’s long positions in companies worth at least $1.0 billion reported as of the end of June, we determined that Springhouse’s equity portfolio generated a weighted average return of 16%.
Without any further ado, let’s proceed to Springhouse’s aforementioned bets.
In General Motors Company (NYSE:GM), Springhouse held 448,950 shares at the end of September, unchanged over the quarter. However, amid a 13.6% growth registered by the stock, the value of the holding advanced to $14.26 million from $12.71 million during the third quarter. At the end of the second quarter, 65 funds tracked by Insider Monkey held long positions in this stock, down by 3% from the previous quarter. The largest stake in General Motors Company (NYSE:GM) was held by Berkshire Hathaway, which reported holding $1.42 billion worth of stock as of the end of June. It was followed by Greenlight Capital with a $487.1 million position. Other investors bullish on the company included Citadel Investment Group, AQR Capital Management, and Anchor Bolt Capital.
Then there’s Magna International Inc. (USA) (NYSE:MGA), in which Springhouse also left its stake unchanged at 289,390 shares between July and September. The value of the position grew to $12.43 million from $10.15 million during the quarter, as the stock advanced by 23.2%. A total of 29 funds from our database were bullish on this stock, down by 9% over the quarter. Tetrem Capital Management, led by Daniel Bubis, held the most valuable position, which was valued at $58.8 million. The second most bullish fund manager was Cliff Asness of AQR Capital Management, with a $50.7 million position. Other members of the smart money that hold long positions included Phill Gross and Robert Atchinson’s Adage Capital Management, Anand Parekh’s Alyeska Investment Group and D. E. Shaw’s D E Shaw.