Iridian Asset Management’s Top Five Picks Include Valeant Pharmaceuticals Inc (VRX), Wyndham Worldwide Corporation (WYN) & Other

Hedge fund Iridian Asset Management, led by David Cohen and Harold Levy, focuses on depressed stocks that are going through significant changes. In a 13F filing it revealed its holding for the fourth quarter. The value of its equity portfolio surged to $8.44 billion from $7.49 billion in the third quarter. We have, therefore, selected the five largest holdings – in terms of value – that Iridian Asset Management has held in his equity portfolio, at the end of last year.

Harold Levy Iridian Asset Management

Out of the top-five largest value holdings, the first on the list is Valeant Pharmaceuticals Intl Inc (NYSE:VRX) a $33 billion market cap pharmaceutical company. Iridian Asset Management has purchased some more shares during the fourth quarter, thereby raising its stake to 3.49 million shares, from  the previous amount of 3.40 million shares. The value of the stake amounts to

Second of the top-five companies on Iridian Asset Management’s list includes Wyndham Worldwide Corporation (NYSE:WYN), the largest hotel company in the world. The fund trimmed the position to nearly 5.31 million shares, during the fourth quarter, from 5.77 million shares held earlier, the current value amounts to $391 million.

Recently, Lone Pine Capital, managed by Steve Mandel, upped its stake in Wyndham Worldwide Corporation (NYSE:WYN) to 6.77 million shares from 5.71 million shares held earlier.

Third on the top-five list is W.R. Grace & Co. (NYSE:GRA) with 3.53 million shares, valued at $349.44 million. The position was sliced from 4.13 million shares held at the end of the third quarter, W.R. Grace stood on the first spot in Iridian Asset Management’s equity portfolio at the end of the third quarter.

Iridian Asset Management’s fourth-largest holding is Eastman Chemical Company (NYSE:EMN) with a $339.69 million stake. The fund holds 4.21 million shares, slightly upped from 4.13 million shares held at the end of the third quarter.

Out of the hedge funds we track, Kurt Billick’s Bocage Capital, is the largest shareholder of Eastman Chemical Company (NYSE:EMN). The fund held 247,023 shares, with a reported value of $19.24 million at the end of the third quarter.

Iridian Asset Management’s fifth most valuable holding is represented by Omnicare, Inc. (NYSE:OCR). The stake was trimmed to 5.29 million shares valued at $319.15 million, from 6.05 million shares held at the end of the third quarter.

Weiss Asset Management, led by Andrew Weiss, increased its holding in Omnicare, Inc. (NYSE:OCR), by 75% in the third quarter of 2013, and held 393,560 shares at the end of the quarter. Weiss Asset Management is the largest shareholder of Omnicare, among all the hedge funds we track.

Disclosure: none

Recommended reading:

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