ViaSat, Inc. (VSAT), Vail Resorts, Inc. (MTN), Rayonier Inc. (RYN): Billionaire Mason Hawkins’ Top Small Cap Picks

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Vail Resorts, Inc. (NYSE:MTN) is next on the list, with Southeastern Asset Management holding 2.39 million shares, down by 7% from the previous quarter. The value of the stake amounted to $217.87 million. Meanwhile, the stock price of the real estate and resort operator rose by about 6.9% in the fourth quarter of 2014.

Days ago, the company saw its shares rise about 10% in one day due to its strong second-quarter profits. The gross profit margin for the second quarter of fiscal 2015 increased to 37.36%. Furthermore, revenue increased in that quarter due to the growth in season-pass sales and spending in meals and dining. As a matter of fact, net income almost doubled in the second quarter of 2015 from the same quarter of fiscal 2014, to $115.76 million from $59.26 million.

Richard Mcguire’s Marcato Capital Management was the second-largest shareholder of Vail Resorts, Inc. (NYSE:MTN), with no activity on the quarter but with a stake of 1.69 million shares valued at $153.83 million at the end of 2014. The position accounted for over 5% of the fund’s equity portfolio. Another prominent investor with a large position in terms of percentage of its portfolio was Patrick Gideon Wolff’s Grandmaster Capital, with a position of 165,800 shares, 6.85% of its equity portfolio.

Finally, Rayonier Inc. (NYSE:RYN) completes the list, with Hawkins holding a position of 7.77 million shares at the end of 2014. The fund’s stake had a market value of $217.23 million and accounted for 1.24% of Southeastern’s equity portfolio. However, Rayonier Inc. (NYSE:RYN)’s stock lost about 33.6% in 2014 and 10.3% in the October-December period, while Mr. Hawkins added 1% to his portfolio according to the latest filing. Moreover, Rayonier Inc. (NYSE:RYN)’s shares have lost another 2.5% of their market value in 2015.

On March 2, the company announced that the board of directors has declared a first quarter cash dividend of $0.25 per common share, which will generate an annualized dividend of $1.00 per share. Based on a closing price of $27.31 on Monday, this makes an annualized dividend yield of 3.7%. Apart from Mr. Hawkins, the largest shareholder of Rayonier Inc. (NYSE:RYN) was Martin Whitman’s Third Avenue Management, as it reported holding 2.52 million shares valued at $70.49 million, an increase of 356% to its position during the fourth quarter.

Disclosure: None

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