Howard Hughes Corp (HHC), Unit Corp. (UNT), Canadian Pacific Railway Limited (USA) (CP): Kenneth Squire’s 13D Management Boosts its Stakes in Its Largest Holdings

Kenneth Squire’s 13D Management recently filed with the SEC its 13F for the second quarter of 2014. This fund tracks 13D filings from activist investors and uses them to guide its investments. It focuses on companies with more than $1 billion in market cap, and last revealed an equity portfolio of more than $250 million dollars. In this article, we will take a look at some of its top equity holdings for the quarter, taking into consideration the 13D filings presented for these companies over the first half of the year, in order to find out which funds is 13D Management trailing. The companies involved here are: Howard Hughes Corp (NYSE:HHC), Canadian Pacific Railway Limited (USA) (NYSE:CP) and Unit Corp. (NYSE:UNT).

13D Management’s largest bet was placed on Howard Hughes Corp (NYSE:HHC), a $6.2 billion market cap real estate company engaged in the development of master planned communities and other strategic real estate development opportunities across the United States. The fund disclosed ownership of 118,070 shares of the company, worth more than $18 million. This implies a 31% increase in the fund’s stake in relation to the first quarter of the year.

Howard Hughes Corp (NYSE:HHC)

The only hedge fund that filed a Schedule 13D for Howard Hughes Corp (NYSE:HHC) is Bill Ackman’s Pershing Square, which presented one in early-January. Pershing Square is now the second largest hedge fund shareholder – amongst those that we track – with $3.56 million shares of Howard Hughes Corp (NYSE:HHC). The only fund that outranks it is Murray Stahl’s Horizon Asset Management, which owns 5.36 million shares, worth more than $847 million.

Second in line is Canadian Pacific Railway Limited (USA) (NYSE:CP), a $34.4 billion market cap rail transportation company that saw 13D Management boost its exposure by 26% over the second quarter. The fund now owns 65,945 shares of the company, worth almost $12 million – which account for more than 4% of its equity portfolio.

Several other major hedge funds hold long stakes in Canadian Pacific Railway Limited (USA) (NYSE:CP), including Bill Ackman’s Pershing Square, Stephen Mandel’s Lone Pine Capital, and Daniel S. Och’s OZ Management, amongst others. Pershing Square’s 13.93 million shares position, worth about $2.52, makes it the largest hedge fund shareholder of Canadian Pacific, among those we track. For its part, Lone Pine Capital started a position in the company during the second quarter of 2014, and last disclosed ownership of approximately 3.5 million shares.

Once again, Pershing Square is the only hedge fund that filed a Schedule 13D for Canadian Pacific Railway Limited (USA) (NYSE:CP) this year. On late-April, the fund disclosed ownership of 13.93 million shares, down from 17.15 million held by the end of the first quarter of 2014.

Last in this list is Unit Corp. (NYSE:UNT). This $3.22 billion market cap contract drilling company also saw 13D Management increase its bet by 26% over the second quarter, despite the fact that no funds presented 13D filings for this company in 2014. The fund now owns 172,615 shares of the company, worth more than $11.8 million.

In addition to Mr. Squire’s, Unit Corp. (NYSE:UNT) counts with the support of several other big hedge fund managers. Amongst them, Chuck Royce of Royce & Associates stands out for his 5.82 million shares position. Moreover, D. E. Shaw of D E Shaw, more than doubled his stake in the company over the second quarter and now owns 443,809 shares of the oil and gas drilling company.

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

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

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!