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Andrew R. Midler’s Savitr Capital Loves Small-Caps

Andrew R. Midler’s Savitr Capital recently declared, with the SEC, its long equity positions as of June 30 2014. The fund disclosed a relatively small equity portfolio, worth barely $56.99 million, mainly divided between energy (47%) and healthcare (41%) stocks.

Over the second quarter, Savitr Capital started 14 new stock positions, augmented its stakes in another 13, and sold out of 9 stocks. Let’s, thus, take a look at its top three stock picks for the period.

The fund’s largest bet is placed on Heron Therapeutics Inc (NASDAQ:HRTX), a $258 million market cap specialty pharmaceutical company. Following a slight reduction in its exposure to the company, Savitr Capital owns 1.83 million shares of Heron Therapeutics Inc (NASDAQ:HRTX), worth $22.59 million. This position accounts for almost 40% of the fund’s equity portfolio’s total value.

Pipeline stocks WMB KMI EPD ETP SLX ENB Atlas

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Another fund that is placing a wager in Heron Therapeutics Inc (NASDAQ:HRTX) is Kevin C. Tang’s Tang Capital Management, which declared in late-June ownership of 4.96 million shares of the company. This stake makes Tang Capital the largest hedge fund shareholder of record amongst those that we track. Julian Baker and Felix Baker’s Baker Bros. Advisors is also betting on the company, as it acknowledged holding 2.16 million shares by the end of the first quarter of the year.

Atlas Pipeline Partners LP (NYSE:APL) escalated one spot over the quarter and now ranks as Savitr’s second most valuable pick. This $2.8 billion market cap full service oil and gas midstream company saw the fund boost its exposure by 14% over the quarter. Savitr now owns 70,000 shares of Atlas Pipeline Partners LP (NYSE:APL), worth $2.4 million, which account for 4.2% of its total equity portfolio.

Other major hedge fund manager with even larger stakes in Atlas Pipeline Partners LP (NYSE:APL) are Leon Cooperman and Jim Simons, who last disclosed (as of March 31, 2014) ownership of 3.35 million shares and 208,484 shares, respectively.

Savitr’s third largest equity position is the one it holds at Usa Compression Partners LP (NYSE:USAC). This $960 million market cap provider of natural gas compression services witnessed a 37% increase in the fund’s participation over the second quarter of the year. Mr. Midler’s fund now holds 92,376 shares of Usa Compression Partners LP (NYSE:USAC), worth roughly $2.3 million.

Once again, Jim Simons’ Renaissance Technologies is amongst the company’s hedge fund supporters. Over the second quarter of the year, the fund upped its involvement in Usa Compression Partners LP (NYSE:USAC) by 576%, to 115,891 shares.

Disclosure: Javier Hasse holds no position in any stocks or funds mentioned.

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