iRobot Corporation (IRBT), Xcerra Corp (XCRA), Applied Micro Circuits Corporation (AMCC): SG Capital Management’s Top Q2 Picks

SG Capital Management, a fund led by Ken Grossman and Glen Schneider, filed today its Form 13F for the second quarter of 2014. In this document, the fund disclosed most of its long equity positions as of June 30, 2014. Its second quarter equity portfolio is mainly divided between services and technology stocks; each one of these sectors account for 34% of its total equity portfolio’s value –approximately $362 million.

Over the quarter, SG Capital purchased 40 new positions, increased its stakes in 10 of its preexisting holdings, and sold out 26 of them. Let’s take a look at some of its top picks in order to find out if any of them could be considered as potential investment options.

iRobot Corporation

The fund’s most valuable equity position is a newcomer in its portfolio: iRobot Corporation (NASDAQ:IRBT). This $1 billion market cap, robotics and artificial intelligence technologies developer saw SG Capital acquire 343,795 shares, valued at more than $14 million, over the second quarter. The fund’s stake at iRobot Corporation (NASDAQ:IRBT) accounts for almost 4% of its equity portfolio’s total value.

Other funds betting on iRobot Corporation (NASDAQ:IRBT) are Drew Cupps’ Cupps Capital Management, which last declared ownership of 564,583 shares, and George Soros’ Soros Fund Management, which started a position with 337,209 shares during the first quarter of the year.

Another company on which SG was bullish during the second quarter is Xcerra Corp (NASDAQ:XCRA), a $467 million market cap handling, contacting and measurements solutions manufacturer, formerly known as LTX-Credence Corporation. Over the quarter, the fund increased slightly its stake in Xcerra Corp (NASDAQ:XCRA), to 1.5 million shares, worth about $13.7 million.

Chuck Royce also seems to have confidence in Xcerra Corp (NASDAQ:XCRA); his fund owns 3.28 million shares of the company.

SG Capital also increased its bets on Applied Micro Circuits Corporation (NASDAQ:AMCC), an $804.7 million market cap global computing and connectivity solutions provider. The fund declared having almost quadrupled its exposure to Applied Micro Circuits Corporation (NASDAQ:AMCC), and now owns 1.16 million shares. This position, worth over $12.6 million, accounted for almost 3.5% of the fund’s equity portfolio.

Richard Driehaus also seems quite bullish about Applied Micro Circuits Corporation (NASDAQ:AMCC). His fund, Driehaus Capital, almost doubled its position during the first quarter (its last reported quarter), to 2.4 million shares.

Fourth in this list is Cynosure, Inc. (NASDAQ:CYNO), a $455 million market cap company that develops and markets aesthetic treatment systems that are used by physicians and other practitioners to perform non-invasive and minimally invasive procedures. Between March 31 and June 30, SG Capital added 561,972 shares to its holdings, and now owns 589,446 shares of Cynosure, Inc. (NASDAQ:CYNO), worth roughly $12.5 million.

Another major hedge fund betting on Cynosure, Inc. (NASDAQ:CYNO) is Neal C. Bradsher’s Broadwood Capital, which declared ownership of 817,029 shares as of the end of March.

Finally, there’s another newcomer at SG Capital’s portfolio: Air Methods Corp (NASDAQ:AIRM). This $2 billion market cap provider of air medical emergency transport services and systems saw the fund acquire 239,080 shares, worth about $12.3 million by the end of June.

Other funds with large positions in Air Methods Corp (NASDAQ:AIRM) are James E. Flynn’s Deerfield Management and Jim Simons’ Renaissance Technologies. Both these funds last disclosed ownership of more than half a million shares of Air Methods Corp (NASDAQ:AIRM).

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 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

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

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!