Rima Senvest Management Bets on Stocks with Impressive Returns

Richard Mashaal‘s Rima Senvest Management is a part of Senvest Partners LP hedge fund. In its latest 13F, the fund revealed a $1.29 billion equity portfolio, consisting of around 100 positions. The filing also showed a diversified equity portfolio, which is focused primarily in Technology, Finance, Services and Healthcare stocks. Before we look at the largest holdings in Rima Senvest’s equity portfolio, we should mention that Senvest Partners is one of the most outstanding hedge funds according to Bloomberg. Back in 2013, seven of its top 20 holdings more than doubled in price, which helped the fund to gain an impressive return of over 79%.

On the first spot is Howard Hughes Corp (NYSE:HHC), of which Rima Senvest owns 599,500 shares, down by 16% on the quarter, the aggregate value of the stake amounting to $85.55 million. The fund has been holding the stock of the company for more than a year, its initial stake containing 31,800 shares. Since the end of 2012, the stock of Howard Hughes surged by almost 240%, while its year-to-date return amounts to almost 25%. Howard Hughes Corp (NYSE:HHC) is engaged in the development and operation of master planned communities. Bill Ackman‘s Pershing Square is also fond of Howard Hughes Corp (NYSE:HHC), owning 3.57 million shares, valued at $509.19 million as of the end of March.

Howard Hughes Corp (NYSE:HHC)

The fund also reported a $73.65 million position in Radware Ltd. (NASDAQ:RDWR), which amasses 4.17 million shares. Radware is a small cap company engaged in manufacturing and marketing of network solutions. In April, the Israel-based company announced that its board of directors had approved a new share repurchase plan, under the terms of which the company intends to buy back around $40 million worth of its common stock. Among hedge funds tracked at Insider Monkey, Rima Senvest is currently the largest shareholder of Radware Ltd. (NASDAQ:RDWR), followed by Eric Bannasch‘s Cadian Capital with 3.60 million shares, valued at $63.71 million.

Next on our list is Depomed Inc (NASDAQ:DEPO), another small cap company from the healthcare sector. Rima Senvest reported ownership of 4.47 million shares of Depomed Inc (NASDAQ:DEPO), worth $64.82 million, the stake being decreased by more than 10% during the first quarter. The stock of Depomed gained around 10% year-to-date and trails a P/E of 10.20, which is significantly below the industry average of 49.00. Millennium Management, led by Israel Englander, is one of the funds that is bullish on Depomed Inc (NASDAQ:DEPO), raising its stake by over 30% during the quarter to 2.28 million shares.

In Senomyx Inc. (NASDAQ:SNMX), Rima Senvest reported a $62.39 million stake, which amasses 5.85 million shares, slightly higher than in the previous quarter. Senomyx Inc. (NASDAQ:SNMX) is a biotechnology company that is engaged in developing flavor ingredients for packaged food by using taste receptors technology. The stock of the company surged by over 43% since the beginning of the year, and over the past year, boosted by more than 280%. Senomyx Inc. (NASDAQ:SNMX) can also found in the equity portfolio of Kerr Neilson‘s Platinum Asset Management, which reported ownership of 1.66 million shares in its latest 13F.

The fifth largest holding in Rima Senvest’s equity portfolio is represented by Immersion Corporation (NASDAQ:IMMR), of which the fund owns 5.41 million shares, with an aggregate value of $57.12 million. Immersion Corporation (NASDAQ:IMMR) is a company specialized in products and software related to operating devices through the sense of touch. While Rima Senvest upped its stake by 18% over the quarter, Spencer M. Waxman‘s Shannon River Fund Management also holds a significant position in Immersion Corporation (NASDAQ:IMMR), which amasses 2.17 million shares.

Disclosure: none

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