Soroban Capital Partners Top Holdings: Williams Companies Inc. (WMB), Cheniere Energy Inc. (LNG) & Others

Eric W. Mandelblatt founded New York-based Soroban Capital Partners in 2010. Previously, Mandelblatt was a partner and co-CEO of TPG -Axon Capital Management, managed by Dinakar Singh. Gaurav Kapadia and Scott Friedman also joined Mandelblatt from TPG-Axon. Soroban Capital is an activist hedge fund investing in both equity and debt markets. Mandelblatt is a former Goldman Sachs energy analyst.

Williams Companies, Inc. (NYSE:WMB)

The value of Soroban Capital’s equity portfolio totaled $7.9 billion at the end of the first quarter of 2014, showed the fund’s latest 13F. Soroban Capital reported holding a total of 34 positions, including more than 6 that were started in the first quarter. Over 37% of the equity portfolio’s value is comprised of services stocks and more than 30% of basic materials stocks.

Williams Companies Inc. (NYSE:WMB) is represented as the largest holding, in which Soroban Capital revealed owning 21 million shares, up from 17.44 million shares held previously. The value of holding is nearly $850 million. Williams Companies Inc. (NYSE:WMB) is an energy infrastructure company in North America that owns interests in or operates 15,000 miles of interstate gas pipelines, 1,000 miles of NGL transportation pipelines, and more than 10,000 miles of oil and gas gathering pipelines. For first-quarter 2014, the company reported decline in net income attributable to the company to $140 million, or $0.20 per share on a diluted basis, compared with net income of $161 million, or $0.23 per share on a diluted basis, for the first quarter of 2013, according to a statement. Another investor Keith Meister’s Corvex Capital holds 41.68 million shares of the company.

Soroban Capital boosted its stake in Cheniere Energy Inc. (NYSEMKT:LNG) to 7.79 million shares from 4.48 million shares disclosed previously.  Houston-based Cheniere Energy Inc. (NYSEMKT:LNG) primarily engaged in LNG-related businesses, and owns and operates the Sabine Pass LNG terminal and Creole Trail Pipeline in Louisiana. The company has a market cap of $15.9 billion. Recently, the company’s subsidiary Corpus Christi Liquefaction LLC entered into a liquefied natural gas sale and purchase agreement with Gas Natural Fenosa LNG SL. Under the agreement, Gas Natural Fenosa will purchase approximately 1.5 million tonnes per annum (mtpa) of LNG upon the commencement of operations of Train 2 from the LNG export facility being developed near Corpus Christi, Texas. The largest shareholders include Scott Ferguson’s Sachem Head Capital, which owns 1.64 million shares, and Eric Chen’s Antipodean Advisors, which holds 2.51 million shares.

Dollar General Corp. (NYSE:DG), a discount retailer with more than 10,000 stores in 40 states, is next on the list. The fund revealed ownership of 6.75 million shares of the company, with a reported value of $374.5 million. The stake represents a decrease from 7.43 million shares the fund previously held. For the first quarter of 2014, the company posted net income of $222 million, or $0.72 per diluted share, compared to net income of $220 million, or $0.67 per diluted share, in the same period in 2013, according to a news release.

In Autodesk Inc. (NASDAQ:ADSK), Soroban Capital reduced its position to 7.19 million shares, worth over $350 million, from 9.03 million shares. Autodesk Inc. (NASDAQ:ADSK) is engaged in designing and making of software and has a market cap of $12.2 billion. The company reported a 4% increase in revenue to $593 million for the first quarter of fiscal 2015. Other significant shareholders of the company include Andreas Halvorsen’s Viking Global and Ricky Sandler’s Eminence Capital, holding 5.73 million shares and 5.18 million shares respectively.

The fifth-largest holding is CBS Corporation (NYSE:CBS), in which the fund cut its stake to 4.98 million shares from 5.91 million shares held previously. CBS Corporation (NYSE:CBS), a mass media company that creates and distributes industry-leading content across a variety of platforms to audiences around the world, has a market cap of $34.2 billion. Last month, the company’s board of directors approved a quarterly dividend on the company’s stock of $.12 per share, payable on July 1, 2014, to shareholders of record on June 10, 2014, according to a statement. Point State Capital, managed by Sean Cullinan, owns 6.80 million shares of the company.

Soroban Capital sold out its positions in Google Inc (NASDAQ:GOOG) and SemGroup Corp (NYSE:SEMG), about 106,236 shares and 1.77 million shares, respectively.

Disclosure: none

Recommended reading:

Tekne Capital Management’s Largest Technology and Other Stock Picks

Marc Faber About the Eurozone Policy, Emerging Markets and Bonds

North Tide Capital’s Healthcare Stock Picks

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!