A Closer Look At Tiger Legatus Capital’s Top Moves: AMAYA (AYA), Danaher Corporation (DHR) & Others

Jesse Ro and his team made a complete U-turn with regard to Danaher Corporation (NYSE:DHR). Having initiated a position during the second quarter through the acquisition of 120,000 shares, Tiger Legatus’ management team liquidated their investment during the third quarter.

Although Danaher Corporation (NYSE:DHR) registered a modest advance of 2.5% during the third quarter, it is still a rather popular stock among the funds we follow. At the end of the second quarter, a total of 54 of the hedge funds in our system were long this stock, an increase of 17% from one quarter earlier. The largest stake in Danaher Corporation (NYSE:DHR) was held by Third Point, which reported holding $388.9 million worth of its shares in its June 13F filing. It was followed by Select Equity Group with a $272.4 million position. Other investors bullish on the company included First Eagle Investment Management, Blue Ridge Capital, and Citadel Investment Group.

Tiger Legatus further decreased its exposure to SS and C Technologies Holdings Inc (NASDAQ:SSNC), a provider of software solutions for financial companies. Over the course of the third quarter, the fund cut its stake by 20%, reducing it to 480,000 shares worth roughly $15.4 million at the end of September. After a disappointing first half of the year, SS and C Technologies Holdings Inc (NASDAQ:SSNC) staged a comeback during the third quarter, registering a 14.7% advance.

At the end of the second quarter, a total of 31 of the hedge funds tracked by Insider Monkey were bullish on this stock, up by 7% from the previous quarter. Of these funds, Valinor Management LLC, managed by David Gallo, held the number one position in SS and C Technologies Holdings Inc (NASDAQ:SSNC) ($145.1 million position). Coming in second was Farallon Capital, led by Thomas Steyer ($139.6 million) position. Other professional money managers with similar optimism encompass Marc Lisker, Glenn Fuhrman and John Phelan’s MSDC Management, John Smith Clark’s Southpoint Capital Advisors, and Panayotis Takis Sparaggis’ Alkeon Capital Management.

Disclosure: None