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Brahman Capital’s Portfolio and Recent Activity

Brahman Capital was founded by Peter Adam Hochfelder in 1988. This New York-based hedge fund makes use of long and short strategies. The firm has a diversified portfolio. At the beginning of June, we mentioned Peter Adam Hochfelder’s Brahman Capital among the many hedge funds who were bullish about Sensata (ST).

Valeant Pharmaceuticals Intl Inc (NYSE:VRX)

During the second quarter ending June, Brahman Capital reduced call options of Valeant (VRX) by 13%, Xerox Corp (XRX) by 12%, and Wellcare Health Plans Inc (WCG) by 36%. The decrease in stake reduced his losses as all three companies realized negative returns since the end of June. Valeant (VRX) lost 18%, Xerox Corp (XRX) lost 25%, and Wellcare Health Plans Inc (WCG) lost 15%. Here are Brahman Capital’s top stock holdings at the end of June:

During the second quarter, Peter Adam Hochfelder increased Ishares Trust (IVV) put options by 77% and further purchased Ishares Trust call options. Collectively, both put and call options of Ishares make up around 53% of his equity portfolio. He has $653 million invested in IVV as put options and $401 million as call options. Since the end of June, Ishares Trust returned -11%.

Valeant Pharmaceuticals (VRX) lost 18% since the end of June. During the second quarter Brahman Capital increased stakes in the company by 7%. Brahman Capital has $123 million invested in the company as of June. Glenn Greenberg’s Brave Warrior Capital has the highest stake in Valeant Pharmaceuticals. It is his largest equity portfolio holding (check out the equity portfolio of Glenn Greenberg’s Brave Warrior Capital).

Brahman Capital has $111 million invested in Omnicare Inc (OCR) as of June. During the second quarter, Hochfelder increased his stake in the company by 70%. Robert Rodriguez and Steven Romick’s First Pacific Advisors has the largest stake in the company. It has $147 million invested in Omnicare (see Robert Rodriguez and Steven Romick’s $6.9 billion equity portfolio). Since the end of June, Omnicare has lost 8%.

American International Group (AIG) and C I T Group Inc (CIT) are two stock holdings of Brahman Capital which are also held by Bruce Berkowitz’s Fairholme (see Bruce Berkowitz’s favorite stocks). During the second quarter ending June, Hochfelder newly added AIG to Brahman Capital’s equity portfolio. It is currently the 6th largest holding of Brahman Capital. During the same quarter, Hochfelder increased C I T Group by 32%. Since the end of June, AIG has lost 20% and CIT has lost 27%.

In the second quarter, Brahman Capital added 46% to its stake in Global Specialty Metals Inc (GSM). Currently, it is the 5th largest holding of Brahman Capital. Since the end of June, the company has lost 28%. Jim Simons’ Renaissance Technologies newly added Global Specialty Metals to its equity portfolio during the second quarter (take a look at Jim Simons’ latest stock picks).

Before the end of June, Brahman Capital reduced its stake in Xerox Corp (XRX) by 12% and increased call options of Xerox by 160%. Since the end of June, Xerox has lost 25%. Chase Coleman also reduced Xerox holdings by 33% during the second quarter. He has $54 million invested in the company (check out the change in the equity portfolio of Chase Coleman’s Tiger Global Management).

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