Fin Tree’s second top tech holding is Sunedison Inc (NYSE:SUNE), in which the fund reported ownership of 8.70 million shares, a 16% decrease from the end of the first quarter, with the current stake having a reported value of $260.24 million as of the end of the second quarter. Sunedison Inc (NYSE:SUNE) is the largest renewable energy company in the world. Despite the continued potential for growth in that sector, the company’s shares have suffered tremendously in 2015, down by over 31%. The shares did get a nice bump recently, jumping as much as 14% after the company announced a new partnership with Dominion Resources (NYSE:D), under which it will build 240 MW of solar projects in Utah. The $4.45 billion market cap company reported a loss of $0.93 per share for the second quarter, compared to a loss of $0.16 per share in the same quarter of last year. Analysts expected a much less severe loss of $0.55 per share. Among the hedge funds tracked by Insider Monkey, David Einhorn‘s Greenlight Capital held the largest position in Sunedison,a 24.84 million-share stake worth $743.20 million as of June 30.
The fund acquired a new postion in Cadence Design Systems Inc (NASDAQ:CDNS) of 9.02 million shares, valued at $177.34 million as of the end of second quarter. At the end of July, Cadence Design Systems, Inc.(NASDAQ:CDNS) reported second quarter revenue of $416 million, compared to revenue of $379 million reported for the same period in 2014. The company’s stock is up by 8.97% over the past three months. Cadence Design Systems Inc (NASDAQ:CDNS) and Applied Materials, Inc. (NASDAQ:AMAT) recently announced a joint venture under which they will work to enhance the chemical-mechanical planarization process for creating advanced chips. Going into the third quarter, Matthew Sidman‘s Three Bays Capital held 6.95 million shares of Cadence, worth $136.65 million as of June 30.