Argentiere Capital’s Returns, AUM and Holdings

Among the newcomers to Argentiere Capital’s portfolio during Q3, we have to mention the fund’s $1.9 million position in Express Scripts Inc (NASDAQ:ESRX), which consists of 20,000 shares. Apparently, now may be a good time to invest in the largest pharmacy benefit management organization in the U.S. As of September 30, the company occupied just a small 0.19% slice of the fund’s 13F portfolio.

Meanwhile, one of the positions the fund decided to boost during the third quarter was its stake in Biomarin Pharmaceutical Inc (NASDAQ:BMRN), a California-based biotechnology company. While the company has faced declining interest from hedge fund managers, Argentiere was not one of them, boosting its stake in Biomarin by 12% during Q3, to 39,200 shares worth $3.8 million.

Argentiere Capital slightly decreased its stake in oilfield services company Halliburton Co (NYSE:HAL) during the quarter, by 13%. At the end of Q3, the fund owned 192,515 shares valued at $7.8 million. In addition, a number of hedge fund managers are concerned whether Halliburton is the right investment to pursue these days, as there has been a rapid decline in hedge fund ownership of the stock over the past year.

The fund substantially lowered its stake in Clovis Oncology Inc. (NASDAQ:CLVS) in the third quarter, slashing the size of its holding in the biopharmaceutical company by 72% to 20,000 shares worth $587,000. That is again consistent with other fund managers, which have been dumping Clovis in large quantities for several quarters.

The biggest holdings that Argentiere Capital decided to cut from its portfolio by the end of Q3 were AT&T Inc (NYSE:T) and HP Inc (NYSE:HPQ), as it sold off its all of its shares of those stocks, 10,000 and 14,930, respectively.

Disclosure: None. This article was originally published at Insider Monkey.