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Park Presidio Capital’s Top Picks: Liberty Interactive Group (QVCA), Hub Group Inc, Blackhawk Network Holdings Inc

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Park Presidio Capital, managed by Lee Hicks and Jan Koerner, recently filed its Form 13F with the U.S. Securities and Exchange Commission. In its filing, the hedge fund disclosed its long equity positions as held at the end of the fourth quarter of 2014. Park Presidio Capital’s portfolio contains a total of 13 positions, worth around $321.2 million. In this article, we will talk about Blackhawk Network Holdings Inc (NASDAQ:HAWKB), Liberty Interactive Group (NASDAQ:QVCA), and Hub Group Inc (NASDAQ:HUBG), which were the fund’s three largest holdings, in terms of value, at the end of December 31, 2014.

Blackhawk Network

San Francisco-based hedge fund Park Presidio Capital was launched by Lee Hicks and Jan Koerner in 2013. Previously, both Hicks and Koerner worked at Thomas Steyer’s Farallon Capital Management. Park Presidio Capital manages hedge funds, and makes investments in the public equity and commodity markets across the globe. The fund uses long/short strategy and invests in value stocks of companies. In early 2014, Hicks and Koerner launched new funds, Park Presidio Capital Partners, and Park Presidio Capital Offshore Fund, after raising $300 million. The funds are value-oriented, long-short equity portfolios that invests mostly in stocks and commodities. Their main focus is on securities in the U.S., Canada, and Western Europe.

On the top position is Blackhawk Network Holdings Inc (NASDAQ:HAWKB), in which Park Presidio Capital disclosed holding 1.13 million shares, with a reported value of $42.8 million. Blackhawk Network Holdings Inc is $1.9 billion prepaid payment network engaged in offering a broad range of gift cards, other prepaid products and payment services in the United States and 20 other countries. The company’s stock gained 50.62% since February 2014. For nine months ended September 6, 2014, the company reported total operating revenues of $786.1 million, up from $616.9 million in the same period in 2013. It’s net income dropped to $2.8 million, or $0.05 per shares, from $4.8 million, or $0.09 per share, in 2013.

Among the hedge funds we track at Insider Monkey, Ken Griffin’s Citadel Investment Group is the largest shareholders of Blackhawk Network Holdings, owing 706,329 shares of the company as of the end of September 2014. Marathon Partners, led by Mario Cibelli, held 420,000 shares of the company as of the end of the third quarter of 2014.

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