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.
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.