Hess Corp. (HES), EMC Corporation (EMC), Juniper Networks, Inc. (JNPR): Elliott Management’s Top Picks

Elliott Management also held Juniper Networks, Inc. (NYSE:JNPR) amongst its top picks last quarter, disclosing a position of 39.24 million shares. During the fourth quarter, the hedge fund increased its stake in the company by just under 1.57 million shares overall. Furthermore, although share prices remained practically stagnant last year, the stock has gained around 7.5% year-to-date. Yet while the stock is not favored by all investors, Mr. Singer’s firm remains optimistic, holding the spot as Juniper Networks, Inc. (NYSE:JNPR)’s largest institutional investor. In addition to Elliott Management, this equity is also favored by Ric Dillon’s Diamond Hill Capital, which held a position of 8.45 million shares as of the end of the year.

Finally, Mr. Singer’s fund was also bullish regarding Family Dollar Stores Inc. (FDO) last quarter, revealing a stake of 8.10 million shares. Considering the fund held 3.29 million shares at the end of the third quarter, this represents a 145% increase in its exposure to the company. The optimism displayed by Elliott Management towards this stock was shared by numerous institutional investors last quarter, including Nelson Peltz’ Trian Partners, which owned 8.36 million shares. However, due to the announced merger with Dollar Tree, Inc. (NASDAQ: DLTR), Trian has since trimmed its exposure by over 6 million shares in order to avoid getting stuck in the middle of a merger arbitrage play. Nevertheless, Family Dollar Stores Inc. (FDO) performance last year was solid, as the stock gained around 21.8% in 2014.

Disclosure: None