Yahoo! Inc. (YHOO), eBay Inc (EBAY), Navient Corp (NAVI): Zenit Asset Management AB Loves These Stocks

In its latest 13F filing with the U.S Securities and Exchange Commission, Zenit Asset Management AB, led by Patrik Brummer, revealed its equity portfolio, worth $876.7 million, for the second quarter of 2014. Over the quarter, the fund acquired more than 10 new stocks and cut positions in eight stocks. Zenit Asset Management likes technology, finance and energy stocks more. For the second quarter, the top three holdings of the fund include Yahoo! Inc. (NASDAQ:YHOO), eBay Inc (NASDAQ:EBAY) and Navient Corp (NASDAQ:NAVI). Let’s take a look at these holdings, which represent over 25% of the fund’s portfolio.

Yahoo icon

Zenit Asset Management is bullish on Yahoo! Inc. (NASDAQ:YHOO), in which it boosted its holding to 2.95 million shares from 1.37 million shares held at the end of the first quarter. The estimated value of the holding is $103.2 million.

Yahoo! Inc. (NASDAQ:YHOO) becomes an attractive stock to investors due to its growing presence in Asia, particularly owing more than 20% stake in Chinese e-commerce giant Alibaba. Speaking on Bloomberg’s “Countdown” in August, Patrick Armstrong, chief investment officer at Plurimi Investment Managers, said that “the Bloomberg consensus has Alibaba IPO’ing at $200 billion. If you just do the math on that, Yahoo’s got 23% of that, that puts you to $46 billion worth of Alibaba stock [...].”

Last month, Bloomberg’s David Ingles reported that the much discussed Alibaba IPO looks set to take place on the September 16.

Other hedge funds having big stakes in Yahoo! Inc. (NASDAQ:YHOO) include D E Shaw, led by David E. Shaw, and JAT Capital Management, managed by John Thaler. D E Shaw holds 16.19 million shares, while JAT Capital Management owns 8.85 million shares of the company.

In eBay Inc (NASDAQ:EBAY), Zenit Asset Management revealed ownership of 1.47 million shares, with a reported value of $73.6 million. eBay Inc (NASDAQ:EBAY), global commerce platform and payments company, is planning to release the beast of internet transactions, and analysts seem to favor the division.

PayPal’s spinoff will virtually split the company in half, but it also might result in more favorable conditions in the longer term. PayPal and Braintree gathered $1.74 billion in revenues, while eBay Inc. (NASDAQ:EBAY)’s core market posted revenues of $1.72 billion for the second quarter. One more thing to note is that once the spinoff takes place, PayPal will see the opportunity of working easier even with eBay Inc. (NASDAQ:EBAY)’s competitors.

Carl Icahn’s Icahn Capital LP owns 30.80 million shares of eBay Inc (NASDAQ:EBAY), while Donald Yacktman’s Yacktman Asset Management holds 8.23 million shares of the company.

On the third spot is Navient Corp (NASDAQ:NAVI), a new position, where the fund holds nearly 4 million shares, worth $71.0 million. Navient Corp (NASDAQ:NAVI) is engaged in providing organizations with new solutions to hiring and managing talent, and has a market cap of $7.5 billion.

Stockholm, Sweden-based Zenit Asset Management was founded in 1999 by Patrik Brummer.

Disclosure: none

Comments
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

The Best B-Boy Movies

Most Awesome Hip Hop Documentaries

Foods That Stain Your Teeth

Richest Doctors in the World

The Best Movie Sountracks Ever

The Highest Grossing Musicals on Broadway

The Most Successful Reality TV Stars

Cheapest Cities to Visit in the US

Most Expensive Summer Camps

Most Expensive Animals in the World

Most Expensive Specialty Crops in the World

Movies That Took Ages to Make

The Longest Hollywood Films Ever Made

Most Expensive Concert Stages

The Richest Bands of all Time

10 Most Corrupt Countries 2013 List

10 Countries with the Highest Quality of Life Index

Most Expensive Mattresses in the World

5 Smallest Countries by Land Area

The Ultimate Heartbreak Songs

Richest Teenagers in the World

10 Most Haunted Places in America

10 Best Places to Retire in Florida East Coast

Top 10 Places to See Before You Die

Top 8 Countries in the World Where Justice Prevails

10 Richest States in America

15 Wealthiest Countries in the World

Richest Singers in the World

Most Expensive Tasting Menu in New York City

Most Expensive Baby Items in the World

Most Expensive Hotel Suites in Vegas

Most Expensive Brunch in New York City

Most Expensive Beef Cuts in the World

25 Best Colleges to Get a Job

Top 10 US Supermarkets

The 25 Most Dangerous Cities in the World to Visit

Most Expensive Xbox Games

Top 11 Cities Where Billionaires Live

Top 10 Most Charitable Companies in America

Most Expensive Seafood in the World

The 10 Wildest Conspiracy Theories

The 10 Best Job Markets in the US

Top 10 Accounting Scandals of All Time

The 25 Biggest Cities in the World

Top 10 Best Paying Virtual Jobs

Most Expensive Leather Shoes in the World

Top 6 Things to Buy in March

The 10 Most Stressful Jobs in America – 2014 List

Top 10 Jobs for Introverted People

Top 10 Honeymoon Destinations in the World

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!