Millennium Management’s Subsidiary Blue Arrow Capital Loves These Stocks

Blue Arrow Capital Management, a subsidiary of Millennium Management, which is led by Israel Englander. It is headquartered in New York and has an equity portfolio worth more than $658.2 million, which is mainly focused on Services stocks, this sector comprising more than 55% of its total value. Blue Arrow Capital Management also invests in technology stocks, which represents over 20% of its total value.

DISH Network Corp (NASDAQ:DISH)

In its latest 13F, Blue Arrow Capital Management disclosed a total of 121 positions, including more than 70 new holdings. DISH Network Corp (NASDAQ:DISH) represents the largest holding, in which the fund boosted its position to 583,702 shares, from 35,454 shares held previously. DISH Network Corp (NASDAQ:DISH) is a provider of pay-television (TV) and has a market cap of $27.3 billion. In its most recent 13F, Kevin Michael Ulrich and Anthony Davis’ Anchorage Advisors disclosed a $110.86 million stake in DISH Network Corp (NASDAQ:DISH), trimming its exposure by approximately 14% to 1.78 million shares.

Grupo Televisa SAB (ADR) (NYSE:TV) is another significant holding, in which the fund owns a $34.6 million stake comprising 1.04 million shares. The company is engaged in TV broadcasting and has a market cap of $19.3 billion. The largest shareholders of Grupo Televisa SAB (ADR) (NYSE:TV) include Jean-Marie Eveillard’s First Eagle Investment Management and Michael Larson’s Bill & Melinda Gates Foundation Trust, owning 33.30 million shares and 16.88 shares, respectively.

In Advance Auto Parts Inc. (NYSE:AAP), Blue Arrow Capital Management increased its position to 183,500 shares, worth $23.21 million, from 95,000 shares reported earlier. Advance Auto Parts Inc. (NYSE:AAP), which provides automotive aftermarket parts in North America, reported first-quarter 2014 earnings per share (EPS) of $2.25, compared to $1.66 to in the first quarter of last year. Total sales for the first quarter rose by 47.3% on the year to $2.97 billion.

Tiffany & Co. (NYSE:TIF) is fourth on the list. Blue Arrow Capital Management upped its stake in the company to 258,722 shares, with a reported value of $22.29 million. Previously, the fund owned 114,115 shares of Tiffany & Co. (NYSE:TIF), which operates jewelry stores and manufactures products in the Americas, Asia-Pacific, Japan and Europe, as well as in the United Arab Emirates and Russia. For the first quarter of 2014, the company reported a 50% increase in earnings to $126 million, or $0.97 per diluted share, up from $84 million, or $0.65 per diluted share, in last year’s first quarter.

Ctrip.com International Ltd. (ADR) (NASDAQ:CTRP) is another important holding, in which the fund disclosed ownership of 433,505 shares, up from 354,455 shares held previously. Ctrip.com International Ltd. (ADR) (NASDAQ:CTRP), which provides accommodation reservation, transportation ticketing, packaged tours, and corporate travel management in China, reported net income attributable to the company’s shareholders of $19 million for the first quarter of 2014, down 25% year-on-year. Recently, Ctrip.com International Ltd. (ADR) (NASDAQ:CTRP) entered into an investment agreement with Tongcheng Network Technology Share Co. Ltd., a local attraction ticket service provider that operates LY.com, to become the second largest shareholder of Tongcheng Network for consideration in cash equivalent to over US$200 million, according to a statement.

Also, Blue Arrow Capital Management sold out its stakes in Amazon.com Inc. (NASDAQ:AMZN) and American Eagle Outfitters (NYSE:AEO), unloading 6,184 shares and 100,000 shares, respectively.

Disclosure: none

Recommended Reading:

Hedge Fund News: Marc Lasry, Seth Klarman & Jonathan Savitz

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