Tekne Capital Management’s Largest Technology and Other Stock Picks

Tekne Capital Management is a New York based financial investment advisory firm founded and managed by Beeneet Kothari, a former portfolio manager at Point State Capital, which is a spinout of Stanley Druckenmiller‘s Duquesne Capital. Founded in 2012, the fund disclosed an equity portfolio, with a core focus on global TMT and related sectors, worth $1.79 billion in its second 13F filing, corresponding to the first quarter of 2014.

The fund declared holding 52 different stock positions, of which 23 were started over Q1, and another 17 of the preexisting ones saw its stake increase. More than 56% of the equity portfolio’s value is comprised of technology stocks, 22% – of services stocks, and 17% is amassed by ETFs.

CBS Corporation (NYSE:CBS)

Mr. Kothari’s fund’s largest long equity position is the one at CBS Corporation (NYSE:CBS), the $34 billion market cap mass media company. During the first quarter, Tekne –more than- doubled its stake in CBS Corporation (NYSE:CBS), and now owns 641,954 shares, worth almost $40 million. This position accounts for over 2% of the fund’s equity portfolio.

Tekne’s “alma mater” (so to put it) also holds a multi-millionaire position in the company. Sean Cullinan’s Point State Capital owns about 6.8 million shares of CBS Corporation (NYSE:CBS), worth more than $420 million.

In the second spot, you’ll find Google Inc (NASDAQ:GOOG), in which Kothari’s fund reported holding 35,546 shares, worth close to $40 million, as well. Over the first quarter of 2014, the fund increased its wage in the internet giant by 42%.  Another fund that recently boosted its bet on Google Inc (NASDAQ:GOOG) is D. E. Shaw, which upped its exposure by 77% over Q1.

SBA Communications Corporation (NASDAQ:SBAC) owns and operates wireless communication towers in the United Sates and Brazil. SBA Communications Corporation (NASDAQ:SBAC) expanded into Brazil in December 2012 with the purchase of 800 freestanding wireless towers.  Over the quarter, Tekne almost doubled its exposure to the company, and now owns 431,656 shares, worth about $39 million. Another fund that doubled its bets on the communications company is Glenn Russell Dubin’s Highbridge Capital Management, which last declared holding 200,182 SBA Communications Corporation (NASDAQ:SBAC) shares.

Over Q1, the fund also started a position in Facebook Inc (NASDAQ:FB), the $162 billion market cap social networking behemoth. The fund disclosed ownership of 649,900 shares of the company, worth more than $39 million. Another fund that bought shares of Facebook Inc (NASDAQ:FB) during the first quarter is John Overdeck And David Siegel’s Two Sigma Advisors, which acquired 839,130 shares of the company.

Finally, there’s another new position: Polycom Inc (NASDAQ:PLCM), a $1.8 billion market cap open, standards-based unified communications and collaboration (UC&C) solutions provider. Over the first quarter, Mr. Kothari purchased over 2.8 million shares, worth almost $39 million.

As reported in a previous article, George Soros’s Soros Fund Management upped its stake in Polycom Inc (NASDAQ:PLCM) by 72%, and now owns 9.45 million shares, worth almost $130 million. This makes it the largest hedge shareholder, amongst those that we track.

Disclosure: Javier Hasse holds no position in any stocks mentioned

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