's QVT Financial has significantly increased its stake in China Zenix Auto International Ltd (NYSE:ZX)
. According to a newly amended filing with the Securities and Exchange Commission, QVT boosted its holding to over 13.84 million ordinary shares (American Depositary Shares), from some 3.14 million held at the end of September, as reported in the fund's latest 13F. The passive stake amasses 6.7% of stock
Daniel Gold employs fundamental and quantitatively-oriented trading strategies to generate exception
returns for his fund. QVT Financial is heavily focused on technology, healthcare, services and financial sectors. The value of the equity portfolio was around $1.47 billion at the end of the third quarter.
China Zenix Auto International Limited manufactures commercial vehicle wheels in China and supplies them to both original equipment manufacturers (OEMs) as well as in the secondary market. The company has five manufacturing locations spread across the People's Republic of China and offers more than 230 varieties of wheels used in commercial vehicles.
Besides QVT Financial, Royce & Associates managed by Chuck Royce
and Jim Simons
’ Renaissance Technologies also hold substantial holdings in China Zenix Auto International Ltd (NYSE:
ZX). Royce & Associates held 50,000 valued at $185,000 and Renaissance Technologies held 25,800 valued at $95,000 at the end of the third quarter.
Last week, QVT Financial disclosed initiating a passive holding in DHT Holdings Inc (NYSE:DHT
). Its stake amasses 5.43% of the common stock
and contains 2.1 million shares. Earlier in October, Daniel Gold's fund increased its position
in Oncothyreon Inc (USA) (NASDAQ:ONTY
) to a total of 4.2 million shares, equal to 6.6% of the common stock, from 3.7 million held in September, when the fund initiated its exposure to the company.
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