Billionaire Michael Hintze’s and CQS Cayman’s Return, AUM, and New Holdings

The two largest positions in CQS Cayman LP’s portfolio at the end of the third quarter were in DISCOVERY COMMUNICATIONS INC. (NASDAQ:DISCA) in which the fund raised its stake by 26% to 3.39 million shares, worth around $100.38 million, and in Alphabet Inc Class A (NASDAQ:GOOGL), in which the fund also boosted its stake by 32%, to 53,969 shares, valued at $65.14 million. Alphabet Inc. is the 4th most popular stock among hedge funds at the end of the second quarter (see the list of 25 most popular stocks among hedge funds).

The biggest new addition to the fund’s equity portfolio was Williams Companies Inc (NYSE: WMB), as the fund acquired 1.39 million shares outstanding, worth around $37.79 million. This was followed by its investment in Arconic Inc (NYSE:ARNC) with the fund obtaining 975,000 shares of the company, that were valued at $21.46 million at the end of the third quarter. Arconic Inc (NYSE:ARNC) is a lightweight metals manufacturer, running its business in three sectors: Transportation and Construction Solutions, Global Rolled Products, and Engineered Products. Year to date the company’s share price is down by 24.17%.  Williams Companies Inc (NYSE: WMB) is an energy company with its main business being natural gas processing. Over the past 12 months, the company’s share price was lowered by 10%.

During the third quarter, the fund significantly raised its stake in Altaba Inc (NASDAQ:AABA), an investment company that developed thanks to the Verizon Communications Inc.’s (NYSE: VZ) acquisition of Yahoo! Inc’s Internet business. CQS Cayman LP boosted its stake in it by 5,373%, to 66,107 shares, worth around $4.50 million. Over the past 6 months, the stock is down by 17.71%.

CQS Cayman LP is seriously losing its interest in Under Armour Inc Class C (NYSE:UA) as it has reduced its stake in it by 86%, to 50,784 shares, worth around $1.08 million. Recently, the fund reported on the third quarter financial results, and its revenue grew by 2% to $1.4 billion. Over the past 12 months, the company’s stock price gained 88.72%. Among the biggest positions the fund decided to drop during the third quarter were Dell Technologies Inc (NYSE:DVMT) and Biogen Inc (NASDAQ:BIIB), saying goodbye to its positions that counted 319,984 shares outstanding, worth around $27.06 million, and 25,750 shares, valued at $7.47 million, respectively.

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