After Big Q1, Daniel Lewis’ Picks Struggle In Q2

H & R Block Inc (NYSE:HRB), which was Orange Capital’s largest equity holding at the end of 2014, was reduced to the third-largest at the end of first quarter of this year, owing both to the decline in its stock price as well as Orange Capital trimming its holding by 7% to slightly over 2.8 million shares. Orange Capital’s stake in H & R Block Inc (NYSE:HRB) was worth $90.16 million as of March 31. After being range-bound throughout April and May, shares of H & R Block Inc (NYSE:HRB) moved lower in June, ending the quarter down by 7.5%. Similar to American Capital Ltd. (NASDAQ:ACAS) , the decline in H & R Block Inc (NYSE:HRB)’s shares was again led by the company declaring disappointing results, on June 8. While Wall Street was expecting the company to declare EPS of $2.03 on revenue of $3.21 billion for its fiscal full-year 2015, the company reported EPS of $1.75 on revenue of $3.08 billion. David E. Shaw‘s firm D.E. Shaw reduced its position in the company by 34% to 1.72 million shares during the January-March period.

NorthStar Asset Management Group Inc (NYSE:NSAM) was one of the biggest losers in Orange Capital’s equity portfolio during the second quarter, with shares of the company slumping by over 20% during that period. Although Orange Capital sold off 30% of its stake in NorthStar Asset Management Group Inc (NYSE:NSAM) during the January-March period, it still held slightly over 3 million shares of the company worth $70.2 million as of March 31. For the first quarter of this year, NorthStar Asset Management Group Inc (NYSE:NSAM) reported EPS of $0.20, 20% below analysts’ estimates of $0.25. All four prominent brokerages and analysts that cover the stock have a ‘Buy’ rating on it, with a consensus price target of $27.63, almost 55% above its current trading price. Robert Pitts‘ Steadfast Capital Management increased its stake in NorthStar Asset Management Group Inc (NYSE:NSAM) by 1% to over 14.4 million shares during the January-March period.

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