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Teekay Corporation (TK), Google Inc (GOOG) & Quincy Lee’s Top Picks

With an AUM figure worth over $360 million, Ancient Art (Teton Capital) is Texas-based hedge fund managed by Quincy Lee. In the spring of 2010, Teton managed to raise $194 million in capital. The largest part of Quincy Lee’s equity investments, about two-thirds, are concentrated in the Technology and Services sectors.
At Insider Monkey, we track the top picks of the best hedge funds because they can beat the market if you know where to look. (Learn more about our strategies here). The top hedge funds are also worth taking a look at.
Teekay Corporation (NYSE:TK)Let’s take a look at the five largest equity positions in Quincy Lee’s 13F portfolio. In first is Teekay Corporation (NYSE:TK), represented in the equity portfolio of Teton by a 932,302 shares, worth $33.5 million. During the first three months of 2013, the stake of the hedge fund in Teekay Corporation (NYSE:TK) increased by 11% on the quarter.
The next on the list is Interactive Brokers Group, Inc. (NASDAQ:IBKR), in which the hedge fund owns almost 2.3 million shares, the value of the stake amounting to $33.5 million. Ancient Art doubled its stake since the end of 2012, the previous position involving about 1.1 million shares, worth $15.3 million. The stock of Interactive Brokers Group, Inc. (NASDAQ:IBKR) has a year-to-date return slightly above 19% and sports a P/E of 20.3x.
The Technology sector is represented in the top picks by Google Inc (NASDAQ:GOOG). Ancient Art holds 41,710 shares, worth $33.1 million. During the January-March quarter, the hedge fund reduced its stake in Google Inc (NASDAQ:GOOG) by 11%. Google Inc (NASDAQ:GOOG) is a popular pick among hedge funds, being included in the equity portfolios of over 150 hedge funds in our 500+ fund database.
We should also mention Charter Communications, Inc. (NASDAQ:CHTR), in which Teton reported a $27.4 million stake, which contains 262,613 shares, an unchanged position since the end of 2012. The stock of Charter Communications, Inc. (NASDAQ:CHTR) returned over 65% since the beginning of the year.
In Valeant Pharmaceuticals Intl Inc (NYSE:VRX), Quincy Lee’s hedge fund disclosed ownership of 351,045 shares, worth $26.3 million. In comparison with the last quarter of 2012, the position in Valeant Pharmaceuticals Intl Inc (NYSE:VRX) declined by 27%, or 135,031 shares.
To sum up, the equity portfolio of Quincy Lee’s Ancient Art involves stakes in 28 companies, and has a value of $384.5 million.
In addition to Quincy Lee, we’d recommend taking a look at Philippe Laffont’s Coatue Management, Pasco Alfaro and Richard Tumure’s Miura Global Management and Philippe Jabre’s Jabre Capital Partners.
Disclosure: none
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