In Turquoise Hill Resources Ltd (NYSE:TRQ), Dalton Investments didn’t touch its position, choosing to keep its 11.28 million shares, with a market value of $42.76 million as of March 31. The Canadian mineral exploration and development company has posted gains of 10.97% year-to-date and is currently sporting a price-to-earnings ratio of 26.73. The company recently announced a financing deal for Oyu Tolgoi, a massive underground copper and gold mine project in Mongolia, which is expected to be signed by year’s end. This came after the mother company, Rio Tinto plc (ADR) (NYSE:RIO) struck a deal with the Mongolian authorities for the $5.4 billion expansion project. At the end of the second quarter, Matthew Halbower‘s Pentwater Capital Management emerged as the biggest shareholder of the company out of the over 700 hedge funds in our database. The fund held a total of 137.55 million shares with a market value of $429.16 million after raising its stake in the stock by 4% during the quarter. Kenneth Mario Garschina’s Mason Capital Management followed at a distant second, with 40.70 million shares valued at $126.99 million, having reduced its stake by 38% in the first three months of the year.
Micron Technology, Inc. (NASDAQ:MU) emerged as Dalton Investments’ third-biggest holding, with its position of 2.07 million shares being valued at $39.05 million, representing 12.09% of its portfolio at the end of the second quarter. This was after the fund increased its stake in the stock by 16% during the quarter. Together with Intel Corporation (NASDAQ:INTC), the semiconductor devices company announced the unveiling of a breakthrough memory technology. This technology, 3D XPoint, has been said to deliver non-volatile memory speeds more than a thousand times faster than NAND, which is the leading non-volatile memory in the market at the moment. The slow PC market has seen the stock lose 43.24% year-to-date, but with the unveiling of the new technology, it’s believed that the stock will be able to reverse course in the future. At the end of the second quarter of 2015, billionaire David Einhorn‘s Greenlight Capital topped the list of the biggest shareholders of the stock out of the hedge funds tracked by Insider Monkey. It was long in the stock with 33.55 million shares valued at $910.20 million, representing 11.89% of its portfolio value. Andreas Halvorsen’s Viking Global raised its stake during the quarter by 55% to 31.15 million shares, valued at $844.99 million. Other notable shareholders include billionaire Seth Klarman’s Baupost Group, Eric Bannasch’s Cadian Capital, and billionaire Daniel S. Och’s OZ Management.
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