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Destrier Capital Raises Exposure To LivePerson Inc. (LPSN)

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Destrier Capital, a hedge fund founded and managed by Michael Pollack, has increased its passive stake in LivePerson Inc. (NASDAQ:LPSN). According to a new filing with the U.S. Securities and Exchange Commission, Destrier Capital holds 3.19 million LivePerson Inc. (NASDAQ:LPSN) shares, up from 2.31 million shares the fund reported in its latest 13F filing. The new stake is equal to 5.84% of the company’s common stock.

Liveperson, Inc. (NASDAQ:LPSN)

New York-based Destrier Capital Management was founded by Michael Pollack in June 2012. The fund mainly invests in services and technology stocks. The value of the fund’s equity portfolio totaled more than $398 million at the end of the third quarter of 2014. The three largest holdings of Destrier Capital Management were represented by LivePerson Inc. (NASDAQ:LPSN), Zynga Inc (NASDAQ:ZNGA), and Dreamworks Animation Skg Inc (NASDAQ:DWA).

Destrier Capital disclosed in its latest 13F filing that it held 9.85 million shares of Zynga Inc (NASDAQ:ZNGA) at the end of the third quarter. At the same time, the fund disclosed owning 938,283 shares of Dreamworks Animation Skg Inc (NASDAQ:DWA). Zynga Inc (NASDAQ:ZNGA), in which the fund increased its holding over 15% in the third quarter of 2014, dropped by over 26% in last one year. Since September 30, 2014, share price of the company decreased by over 6%. On Thursday, the stock traded up by 1.16% to $2.62. Similarly, the fund’s third largest holding, Dreamworks Animation Skg Inc (NASDAQ:DWA), dropped by more than 38% since January 23, 2014. The stock shows a monthly decrease of over 6%. However, on Thursday, the stock moved up by 3.05% to $21.31.

Aside from Destrier Capital, Shannon River Fund Management, led by Spencer M. Waxman, reported holding 2.94 million shares in LivePerson Inc. (NASDAQ:LPSN), as of the end of September 2014. Another investor, Eric Bannasch’s Cadian Capital, seems not a big fan of LivePerson Inc. (NASDAQ:LPSN), in which it reduced its position during the third quarter by 60% to 541,900 shares.

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