Tim Curro’s Value Holdings Bets on Services Sector

As I continued to look through major hedge funds’ 13F filings, I came across Tim Curro’s Value Holdings Lp. This financial investment advisory firm is headquartered in New York and was founded by Mr. Curro almost 20 years ago, after leaving Leon Cooperman’s Omega Advisors. Value Holdings’ equity portfolio, worth more than $137 million, is mainly focused on services stocks, which comprise more than 50% of its total value. The fund also focuses, to a lesser extent, on technology (20%) and industrial goods (10%).

In its latest Form 13F, Value Holdings disclosed 26 long stock positions; out of them three – newcomers . In addition, the fund sold out of one of its preexisting holdings, and increased four of its stakes. So, let’s take a look at Mr. Curro’s most interesting moves for 2014’s first quarter.

The fund’s top four holdings in terms of value are represented by the same companies, although the fund made some changes to the holdings. First on my list is Westinghouse Air Brake Technologies Corp (NYSE:WAB), a provider of value-added, technology-based products and services for the rail industry. Same as in the previous quarter, the fund decreased its exposure to the company by 11% and now owns 220,300 shares, valued at roughly $17 million. Nonetheless, this continues to be the fund’s most valuable position, accounting for about 12.5% of its equity portfolio. OZ Management, led by Daniel S. Och, holds an even larger stake. With 2.1 million shares, up 35% on the quarter, OZ Management is the largest hedge fund shareholder of the company out of funds tracked at Insider Monkey.

Global Payments Inc (NYSE:GPN)

Value Holdings’ second largest bet is placed on Global Payments Inc (NYSE:GPN), an electronic payments transaction processing services provider. Similar to the previous case, Mr. Curro  inched down his exposure to the company to 229,100 shares, down from 231,100 in the previous quarter, the value of the new stake amounting to  $16 million. This position accounts for almost 12% of the fund’s equity portfolio’s total value.

Among other shareholders of the company are Donald Chiboucis’ Columbus Circle Investors, which owns more than 1.6 million shares, worth around $114 million, and Larry Robbins’ Glenview Capital holding about 1.45 million shares. Both these funds increased their stakes during the first three months.

In the third spot is Total System Services, Inc. (NYSE:TSS), a $5.8 billion market cap company, which provides payment solutions and services to financial and nonfinancial institutions. Value Holdings’ position remained unchanged over the quarter, containing 351,700 shares, worth about $10.7 million. Other hedge funds betting on this stock are Ken Griffin’s Citadel Investment Group, with 4.59 million shares, and Jim Simons’ Renaissance Technologies, with 3.48 million shares. Once again, both these funds increased their stakes over Q1 (in fact, Citadel more than doubled its holding).

In Rollins, Inc. (NYSE:ROL), a $4.4 billion market cap provider of pest and termite control services Mr. Curro’s position remained untouched, at 256,9100 shares, with an aggregate value of roughly $7.7 million. Yet again, Jim Simons is amongst the hedge fund shareholders, with 655,200 shares. However, Mario Gabelli’s Gamco Investors holds a more significant positions, which contains 3.2 million shares, valued at over $98 million.

Finally, there’s Thor Industries, Inc. (NYSE:THO), which represents a new position in the fund’s equity portfolio. Despite the fact that Value Holdings shrank its exposure to the company by 2% over the quarter, its share price rose by more than 10% during the first quarter, and the value of the 121,100 shares held by the fund, amounts to $7.3 million. Aside from Value Holdings, Chuck Royce’s Royce & Associates’ owns more than 7.2 million shares, worth over $443 million.

 

Disclosure: Javier Hasse holds no position in any stocks mentioned.

 

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. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

On the Move: The 10 Fastest Growing Businesses in 2015

Fast Money: The 10 Highest Paying Fast Food Restaurants

Mixing It Up: The 14 Best Music Mashups of 2014

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

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!