Warren G. Lichtenstein, the manager of Steel Partners fund, has disclosed in a form 4 filed with the SEC, receiving in aggregate 14,311 shares of ModusLink Global Solutions, Inc. (NASDAQ:MLNK). The securities have been offered automatically by the company under the Director Compensation Plan. Following the increase, Mr. Lichtenstein owns 37,317 shares of ModusLink directly, and also owns 60,000 shares via Steel Partners.
Warren G. Lichtenstein’s Steel Partners with $388 million in its equity portfolio focuses on long term and active value investments. The fund focuses on Industrial Goods, Technology, Services and Basic Materials sectors. The fund is very aggressive and works with the management and other stakeholders to develop corporate value among its investments.
At the end of the third quarter, the fund held 7.23 million shares worth $172.55 million in Handy & Harman Ltd (NASDAQ:HNH) and 4.18 million shares worth $67.02 million in Gencorp Inc (NYSE:GY). These two investments totaled almost 62% of its equity portfolio value. Apart from these two companies, the fund also held 2.55 million shares valued at $38 million of Steel Partners Hldgs (NYSE:SPLP)
ModusLink Global Solutions Inc. (NASDAQ:MLNK) provides supply chain and logistics services to companies in consumer electronics, communications, computing, medical devices, software, luxury goods and retail sectors through its subsidiaries. The company operates globally with 30 sites in 15 countries covering North America, Europe, and the Asia region. ModusLink has recently released its Corporate Social Responsibility (CSR) report for fiscal year 2013. The company has managed to improve the overall rate of recycling from 65% to 73% in the 2013 fiscal year.
Apart from Steel Partners, Renaissance Technologies, managed by Jim Simons held 395,800 shares worth $1.09 million at the end of the third quarter. Greg Taxin’s Clinton Group also owned 372,100 shares worth $1 million followed by Mario Gabelli’s Gamco Investors with 342,000 shares worth $937,000.