Aside from Mattress Firm Holding Corp (NASDAQ:MFRM), we will also take a look at some other investments of 40 North Management. So let’s take a look at two stocks in which the fund holds large stakes in terms of value. These companies are Columbia Property Trust Inc (NYSE:CXP) and W. R. Grace & Co (NYSE:GRA)
40 North Management disclosed holding 8.1 million shares of Columbia Property Trust Inc (NYSE:CXP) at the end of 2014, up by 103% on the quarter, with the shares having an aggregate value of $206.31 million. Among the funds that we track, Lee Ainslie’s Maverick Capital is the second-biggest shareholder of Columbia Property Trust Inc (NYSE:CXP), holding 1.50 million shares, down by 65% on the quarter, according to its latest 13F filing.
On February 12, the company announced that the board of directors had declared a regular quarterly cash dividend of $0.30 per common share, which will generate an annualized dividend of $1.20 per share. Based on a closing price of $26.58 on Thursday, this makes an annualized dividend yield of 4.5%. Columbia Property Trust Inc (NYSE:CXP) plans to issue its earnings release for the first quarter after the market closes on Thursday, April 30, 2015. Dividends payments are one of the benefits of owning stock in mid-to-large-cap companies. On the other hand however, these stocks are more likely to be priced efficiently, and are less likely to provide the same opportunities for unlocking value that could generate high returns. On the other hand, the best small-cap stocks have a better chance to appreciate significantly, which is has been proven through forward-testing of our small-cap hedge fund strategy, which returned 132% between August 2012 and March 2015, beating the market by 79 percentage points.
In W. R. Grace & Co (NYSE:GRA) the fund disclosed holding 1.01 million shares, up by 125% on the quarter, with the value of the stake amounting to $96.56 million. Among the funds that we track, the largest shareholder of W. R. Grace & Co (NYSE:GRA) was David Cohen and Harold Levy´s Iridian Asset Management, which upped its stake by 15% on the quarter to 5.34 million shares held as of the end of 2014. In a 13G filing in January, the fund revealed that it had increased its position by 25% to 6.74 million shares. Another fund that owned shares of W. R. Grace & Co (NYSE:GRA) was John Griffin‘s Blue Ridge Capital, holding 3.19 million shares, up by 7% on the quarter. The value of the stake amounted to $304.29 million as of the end of 2014.
W.R. Grace & Co. (GRA) produces and sells specialty chemicals and materials worldwide. The chemical maker announced in February its intentions to split its company into two separate, publicly traded companies. One will be focused on the chemicals side of the business and the other on the construction side.
Suggested Reading:
