During the third quarter of 2018, the fund welcomed seven new positions in its equity portfolio. One of the most significant acquisitions was Tesla Inc (NASDAQ:TSLA) the electric car making company led by Elon Musk. As of September 30th, the fund owns 27,500 shares worth a value of $7.28 million.
Another valuable addition was Cooper Companies Inc (NYSE:COO) where the fund purchased 18,100 shares worth $5.02 million. Cooper Companies are dedicated to the development and manufacturing of innovative medical devices.
Axel Capital decided to boost its investment in five of its positions. The most remarkable increases were made to its stakes in McCormick & Co Inc (NYSE:MKC) by 150% to hold 50,000 shares valued at $6.59 million and to Live Nation Entertainment Inc (NYSE:LYV) upped by 125% accumulating 90.000 shares worth $4.90 million.
On the contrary, the fund trimmed its stake in Jetblue Airways Corp (NASDAQ:JBLU) by 50% acquiring now 50,000 shares valued at $968,000 and in Splunk Inc (NASDAQ:SPLK) where it decreased its investment by 37% leaving it to 60,000 shares valued at $7.26 million
The fund decided to say goodbye to seven of its positions. Among those were Facebook Inc (NASDA:FB) selling out its 26,000 shares valued at $5.05 million, and Carnival Corp (NYSE:CCL) dumping the total of its 40 000 shares worth $2.32 million.
Disclosure: None. This article is originally published at Insider Monkey.