Indus Capital’s Latest 13F Shows Bets on Technology and Basic Materials Sectors

David Kowitz’s Indus Capital is a New York based hedge fund founded in 2000 by David Kowitz and Sheldon Kasowitz, who had previously worked for George Soros as fund managers. The fund employs a long-short investment strategy and is focused on Asian and European markets, having offices in London, Singapore, Tokyo, and Hong-Kong.

The fund has presented its Form 13F at the U.S. Securities and Exchange Commission recently. In this filing, the fund disclosed its equity positions as of March 31, 2014. Its first quarter equity portfolio is divided between ETFs, that comprise about 40% of its total value, technology stocks (25%) and basic materials stocks (15%).

Over the quarter, Indus Capital opened 12 new positions, increased its stakes in 16 of its preexisting holdings, and sold out of 17 stocks. Let’s take a look at the five companies in which Mr. Kowitz’s fund owns the largest long positions in terms of value.

Sunedison Inc (NYSE:SUNE)

The fund’s most valuable equity position is, same as in the previous quarter, in Sunedison Inc (NYSE:SUNE). This $5.2 billion market cap semiconductor and solar technology company saw Mr. Kowitz’s fund increase its stake by 7% over the quarter. At the end of March, Indus Capital owned more than 12 million shares of Sunedison Inc (NYSE:SUNE), valued at over $226 million, which accounts for about 18% of its equity portfolio’s total value.

Other funds that are betting on Sunedison Inc (NYSE:SUNE) are Rishi Bajaj, Toby Symonds, And Steve Tesoriere’s Altai Capital, which declared holding more than 18.4 million shares in its latest 13F, and John Lykouretzos’ Hoplite Capital Management, which started a position with 16 million shares during the first three months of the year.

Another company that felt Indus Capital’s bullishness is HDFC Bank Limited (ADR) (NYSE:HDB), a $37.5 billion market cap banking and financial services provider. Over the quarter, the fund increased its position in HDFC Bank Limited (ADR) (NYSE:HDB) by 124%, to 1.79 million shares, worth about $73 million.  This makes it the company’s second largest hedge fund shareholder (amongst the funds that we track), only outranked by Ken Fisher’s Fisher Asset Management, which owns 4.8 million shares of HDFC Bank Limited (ADR) (NYSE:HDB), up by 11% over Q1.

Indus Capital has also increased its holding in NuStar Energy L.P. (NYSE:NS) by 30%, to 650,000 shares. This position, worth over $35 million, accounted for almost 3% of the fund’s equity portfolio. Even more bullish is Dmitry Balyasny’s Balyasny Asset Management, which almost doubled its position in NuStar Energy L.P. (NYSE:NS) to 2.3 million shares during the first quarter.

Rockwood Holdings, Inc. (NYSE:ROC) is a $5.5 market cap developer, manufacturer and marketer of value-added specialty chemicals and materials used for industrial and commercial purposes. Between Jan. 1 and March 31, Mr. Kowitz’s fund almost tripled its exposure to the company, and last declared owning 422,700 shares, worth roughly $31 million. William B. Gray’s Orbis Investment Management also upped its stake in Rockwood Holdings, Inc. (NYSE:ROC) by 7%, to approximately 3.95 million shares.

Finally, there’s Nu Skin Enterprises, Inc. (NYSE:NUS), a $4.3 billion market cap direct selling company, which develops and distributes personal care products and nutritional supplements that are sold under the Nu Skin and Pharmanex category brands. Indus Capital has initiated a position with 299,012 shares, worth about $24 million, during the first quarter. Another fund that recently started a position in the company is J Kevin Kenny Jr’s Emerging Sovereign Group, which acquired 2.26 million shares of Nu Skin Enterprises, Inc. (NYSE:NUS), valued at more than $187 million by the end of the quarter.

Disclosure: Javier Hasse holds no position in any stocks 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

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!