Are General Motors Company (NYSE:GM), Magna International Inc. (USA) (NYSE:MGA), MCBC Holdings Inc (NASDAQ:MCFT), and Apollo Education Group Inc (NASDAQ:APOL) stocks that you should be more interested in? One fund that is bullish on all four of them is Brian Gaines‘ Springhouse Capital Management. In this article, we will take a closer look at Springhouse’s stakes in these companies and see how the bets paid off last quarter. In addition, we’ll discuss what other funds that we track at Insider Monkey think about the companies in question.
Springhouse reported an equity portfolio of $204.48 million as of the end of September, up from $177.40 million a quarter earlier. The fund mainly invests in financial stocks, which amassed 71% of its equity portfolio at the end of the third quarter. By taking into account the fund’s long positions in companies worth at least $1.0 billion reported as of the end of June, we determined that Springhouse’s equity portfolio generated a weighted average return of 16%.
Without any further ado, let’s proceed to Springhouse’s aforementioned bets.
In General Motors Company (NYSE:GM), Springhouse held 448,950 shares at the end of September, unchanged over the quarter. However, amid a 13.6% growth registered by the stock, the value of the holding advanced to $14.26 million from $12.71 million during the third quarter. At the end of the second quarter, 65 funds tracked by Insider Monkey held long positions in this stock, down by 3% from the previous quarter. The largest stake in General Motors Company (NYSE:GM) was held by Berkshire Hathaway, which reported holding $1.42 billion worth of stock as of the end of June. It was followed by Greenlight Capital with a $487.1 million position. Other investors bullish on the company included Citadel Investment Group, AQR Capital Management, and Anchor Bolt Capital.
Then there’s Magna International Inc. (USA) (NYSE:MGA), in which Springhouse also left its stake unchanged at 289,390 shares between July and September. The value of the position grew to $12.43 million from $10.15 million during the quarter, as the stock advanced by 23.2%. A total of 29 funds from our database were bullish on this stock, down by 9% over the quarter. Tetrem Capital Management, led by Daniel Bubis, held the most valuable position, which was valued at $58.8 million. The second most bullish fund manager was Cliff Asness of AQR Capital Management, with a $50.7 million position. Other members of the smart money that hold long positions included Phill Gross and Robert Atchinson’s Adage Capital Management, Anand Parekh’s Alyeska Investment Group and D. E. Shaw’s D E Shaw.
MCBC Holdings Inc (NASDAQ:MCFT)’s stock inched up by 3.2% during the third quarter, while Springhouse doubled its stake to 1.21 million shares worth $13.84 million. It’s important to mention that during the second quarter, the fund also boosted its position by 102% to 605,758 shares valued at $6.69 million, being the second-largest shareholder among 12 funds from our database holding shares at the end of June, up by 33% over the quarter. The largest stake was held by Patrick Halloran’s Wayzata Investment Partners, which amassed $107.4 million worth of stock. Among other hedge funds and institutional investors with similar optimism were Doug Gordon, Jon Hilsabeck and Don Jabro’s Shellback Capital, Chuck Royce’s Royce & Associates, and Richard Driehaus’s Driehaus Capital.
After trimming the stake by 11% during the third quarter, Springhouse held 532,060 shares of Apollo Group Inc (NASDAQ:APOL) worth $4.23 million at the end of September. The fund entered the quarter with a stake containing 602,682 shares worth $5.50 million and saw the stock decline by 12.8% in the following three months. During the second quarter, the number of funds from our database long Apollo Group fell by 27% to 16. Among these funds, Driehaus Capital held the most valuable stake in Apollo Group Inc (NASDAQ:APOL), which was worth $59 millions at the end of the second quarter. On the second spot was First Pacific Advisors LLC which amassed $42.8 millions worth of shares. Moreover, Yacktman Asset Management, Alpine Associates, and D E Shaw were also bullish on Apollo Education Group Inc (NASDAQ:APOL).