Tesla Motors Inc. (TSLA), KAR Auction Services Inc (KAR), Laboratory Corp. of America Holdings (LH): Bridger Management Loves These Stocks

In its latest 13F filing with the U.S. Securities and Exchange Commission, Bridger Management, run by Roberto Mignone, disclosed its holdings as held at the end of the second quarter of 2014. The fund reported 38 equity positions, with a total value of $1.42 billion. Over the quarter, the fund acquired eight positions, and sold out more than 10 holdings. We will take a look at the fund’s top three holdings, which include Tesla Motors Inc. (NASDAQ:TSLA), KAR Auction Services Inc (NYSE:KAR) and Laboratory Corp. of America Holdings (NYSE:LH).


Tesla Motors Inc. (NASDAQ:TSLA) is first on the list. Bridger Management disclosed holding 380,000 shares of the automaker, which designs and manufactures electric vehicles. The value of the holding amounts to around $92 million. The stake represents an increase from 300,000 shares the fund held previously. Last month, Panasonic Corp. and Tesla Motors Inc. (NASDAQ:TSLA) announced that they teamed up to cooperate on the construction of a large-scale battery manufacturing plant in the United States, known as the ‘Gigafactory’.

Other largest shareholders of Tesla Motors Inc. (NASDAQ:TSLA) include Andor Capital Management, led by Daniel Benton, which owns 1.25 million shares, and John Thaler’s JAT Capital Management, which holds 948,778 shares of the company.

On the second position is KAR Auction Services Inc (NYSE:KAR), which operates used vehicle auction services for North American sellers and buyers worldwide. Bridger Management reported holding 2.40 million shares, worth $76.5 million. The stake remained changed over the quarter. KAR Auction Services Inc (NYSE:KAR) has a market cap of $4.2 billion, and its shares on Thursday traded down by 0.17% to $29.89. Early this month, the company announced that its business unit ADESA acquired a 50% stake in Toronto-based Nth Gen Software Inc. and its online vehicle remarketing system, TradeRev, for the total purchase price of about $30 million in cash.

Aside from Bridger Management, Eminence Capital, run by Ricky Sandler, and Daniel S. Och’s OZ Management disclosed holding stakes in KAR Auction Services Inc (NYSE:KAR). Eminence Capital owns 5.46 million shares and OZ Management reported ownership of 5.03 million shares of the company.

Third position is occupied by Laboratory Corp. of America Holdings (NYSE:LH), in which Bridger Management revealed holding 657,500 shares, with a reported value of nearly $68 million. Previously, the fund held 350,000 shares of Laboratory Corp. of America Holdings (NYSE:LH), a clinical laboratory company that is a pioneer in commercializing new diagnostic technologies and the first in its industry to embrace genomic testing. It has a market cap of $9 billion.

Pzena Investment Management, led by Richard S. Pzena, holds 1.65 million shares of Laboratory Corp. of America Holdings (NYSE:LH). Another institutional investor, Ariel Investments, run by John W. Rogers, owns 1.09 million shares of the company.

Disclosure: none

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