Sandell Asset Management Largest Equity Portfolio Moves

In its latest 13F, Tom Sandell’s Sandell Asset Management has disclosed positions held at the end of March 31, 2014. The fund has disclosed a total of 30 positions, with the value of equity portfolio amounted to $615.3 million, up from $497.3 million in the fourth quarter of 2013.

Thomas Sandell

In the Sandell’s equity portfolio, Compuware Corporation (NASDAQ:CPWR) is represented as the largest holding, in which the fund owns 7.06 million shares, with a reported value of $74.2 million. Compuware Corporation (NASDAQ:CPWR) is a technology performance company that provides software, experts and best practices to ensure applications work well and deliver business value. The company’s solutions optimize application performance across the Enterprise and the Internet for leading organizations around the world. As at the end of December 2013, Sandell disclosed ownership of 4.82 million shares of the company. In February, Paul Singer’s Elliott Management reported upping its stake in Compuware Corporation (NASDAQ:CPWR) to 21 million shares from 18.67 million shares disclosed by at the end of the third quarter of 2013.

Meritor Inc (NYSE:MTOR) is another important holding, in which the fund revealed owning 2.60 million shares, worth $31.9 million. However, in a recent filing, Sandell has reported increasing its passive stake in Meritor Inc (NYSE:MTOR) to more than 5.03 million shares. Meritor Inc (NYSE:MTOR) is the world’s largest independent manufacturer of commercial vehicle axles. For the second quarter of fiscal year 2014, the company reported sales of $962 million, up 6% from the same period last year. The company’s net loss from continuing operations, on a GAAP basis, was $2 million, or $0.02 per diluted share, compared to a loss of $4 million, or $0.04 per diluted share, in 2013.

In Hologic Inc. (NASDAQ:HOLX), Sandell disclosed a $21.1 million stake, containing 981,710 shares. Hologic Inc. (NASDAQ:HOLX) is a developer, manufacturer and supplier of premium diagnostic products, medical imaging systems, and surgical products, with an emphasis on serving the healthcare needs of women. The company has a market cap of $6.3 billion. Other investors of the company include Carl Icahn’s Icahn Capital LP, which owned 34.15 million shares, and Ralph V. Whitworth’s Relational Investors, which disclosed ownership of 19.95 million shares of the company as at the end of 2013.

Sandell reported holding 853,800 shares of Ashford Hospitality Prime Inc (NYSE:AHP), with a reported value of $12.91 million.                 Texas-based Ashford Hospitality Prime Inc (NYSE:AHP) is a conservatively capitalized REIT that invests primarily in high RevPAR, full-service and urban select-service hotels and resorts located predominantly in domestic and international gateway markets. The company acquired the 142-room Pier House Resort and Spa from Ashford Hospitality Trust Inc. (NYSE: AHT) for a total consideration of $92.7 million, according to a statement. The largest shareholders of the company include Cliff Asness’ Aqr Capital Management, which held 364,201 share at the end of the fourth quarter of 2013.

Sandell revealed a $8.71 million stake in Accelrys Inc. (NASDAQ:ACCL) at the end of March 2014. Accelrys is a provider of scientific innovation lifecycle management software, supports industries and organizations that rely on scientific innovation to differentiate themselves. For the fourth fiscal quarter ended December 31, 2013, the company reported non-GAAP net income of $5.3 million, or $0.09 per diluted share, compared to non-GAAP net income of $4.5 million, or $0.08 per diluted share, for the same quarter of the previous year. Non-GAAP net income was $20.5 million, or $0.36 per diluted share, for the year ended December 31, 2013, compared to non-GAAP net income of $19.6 million, or $0.35 per diluted share, for the year ended December 31, 2012.

Disclosure: none

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