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Vertex One Is Betting on Deckers Outdoor Corp (DECK) & Lloyds Banking Group PLC (ADR) (LYG)

John Thiessen is the manager of Vertex One Asset Management, a hedge fund whose activity we track as part of our market-beating premium strategy. In this way, since Vertex One Asset Management filed its 13F form with the Securities and Exchange Commission, let’s take a look at some of the largest stakes from the equity portfolio of the hedge fund. Highlights include Deckers Outdoor Corp (NASDAQ:DECK) and Lloyds Banking Group PLC (ADR) (NYSE:LYG).

In this way, Vertex One disclosed its largest stake in Deckers Outdoor Corp (NASDAQ:DECK). The stake involves about 1.1 million shares and has a value of $56.3 million, a decline from the previous quarter value of $77.2 million, when the position contained some 1.4 million shares. The year-to-date return of Deckers Outdoor Corp (NASDAQ:DECK)’s stock amounts to over 41%, while the forward P/E ratio is slightly below 13 and and the PEG ratio is near 2.0. In addition to Vertex One, some other hedge funds held shares of Deckers Outdoor Corp (NASDAQ:DECK), such as Alydar Capital managed by John Murphy and Patrick Mccormack’s Tiger Consumer Management, among others.

Lloyds Banking Group PLC (ADR) (NYSE:LYG)

In Lloyds Banking Group PLC (ADR) (NYSE:LYG), the hedge fund holds its second-largest stake, which contains 7.3 million shares, worth $28.1 million, an increase of almost 1.7 million shares over the quarter. Since the beginning of the year, the stock of Lloyds Banking Group PLC (ADR) (NYSE:LYGgrew by over 48% since the beginning of the year, with the stock trading at a forward P/E above 18 and a PEG ratio of 0.9.

The next three positions are less significant but should also be mentioned. In Dell Inc. (NASDAQ:DELL), Vertex One’s stake involves 2.5 million shares, worth almost $33.7 million, the stock surging since the first quarter’s amount of 621,700 shares, worth $8.9 million. PHH Corporation (NYSE:PHH) is the next company on the list, in which the hedge fund’s stake contains 1.2 million shares, and is worth $24.9 million, down by approximately 71,000 shares since the end of March. And the last but not the least we should mention the $16.5 million stake held by Vertex One in Greenlight Capital Re, Ltd. (NASDAQ:GLRE), which involves 671,349 shares, an amount unchanged over the quarter.

We should also mention that the total value of the equity portfolio of Vertex One amounts to almost $578.9 million, a decrease from the previous-quarter sum of $725 million. The 13F portfolio of Vertex One contains a total of 83 positions, a decrease by 6 positions over the quarter. Insider Monkey will continue monitoring the activity of John Thiessen’s hedge fund and will keep you in the loop regarding all of its latest investment plays.

Disclosure: none

Recommended reading: Billionaire Bill Ackman Was Loving Air Products & Chemicals, Inc. (APD) In Q2

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