Paul Singer Loads Up On More Shares Of Citrix Systems Inc (CTXS) Amid Weakness

Having initiated a position in Citrix Systems, Inc. (NASDAQ:CTXS) at the beginning of June, Paul Singer has continued his buying spree into August, adding 300,000 shares to his previously-disclosed position according to two recent Form 4 filings with the Securities and Exchange Commission. Shares were bought at prices varying between $67.27 and $68.87 apiece and were spread across two of Elliott Management‘s funds. Following this move, Singer and Elliott Management own a total of 5.83 million shares of Citrix Systems, Inc. (NASDAQ:CTXS), a 3.6% stake in the company.

Paul Singer ELLIOTT MANAGEMENTOne of the oldest hedge funds around, Elliott Management was founded in 1977 by Paul Singer, who has grown the company into a behemoth with more than $20 billion in assets under management. The firm’s first fund, Elliott Associates, was launched in January 1977, while Elliott International was added in 1994. Both funds have managed to provide investors with superior results and low volatility, beating the S&P 500 index by an average of five percentage points annually. As of the fall of 2014, Singer was wary about the state of the economy and the stock market, stating that “nobody can predict how long governments can get away with fake growth, fake money, fake jobs, fake financial stability, fake inflation numbers and fake income growth.”

Paul Singer
Paul Singer
Elliott Management

We don’t just track the latest moves of hedge funds. We are, in fact, more interested in their 13F filings, which we use to determine the top 15 small-cap stocks held by the funds we track. We gather and share this information based on 16 years of research which showed that these 15 most popular small-cap picks have a great potential to outperform the market, beating the S&P 500 Total Return Index by nearly one percentage point per month in backtests, and easily beating the most popular large-cap picks of funds, which nonetheless get the majority of their collective capital. Why pay fees to invest in both the best and worst ideas of a particular hedge fund when you can simply mimic only the very best ideas of the best fund managers on your own? Since the beginning of forward testing in August 2012, the Insider Monkey small-cap strategy has outperformed the market every year, returning 118%, nearly two-times greater returns than the S&P 500 during the same period (see more details).

Paul Singer is a big fan of tech stocks, having several of them as his top bets. According to its latest 13F filing, Elliott Management holds 34.2 million shares of Juniper Networks, Inc. (NYSE:JNPR), making it its second-biggest investment. EMC Corporation (NYSE:EMC) is also a favorite of Singer’s, with Elliott holding 33.6 million shares valued at $886 million. During the second quarter, Singer made a play on another IT giant as well, CDK Global Inc(NASDAQ:CDK), increasing his stake by 155% to 6.59 million shares worth $355 million as of June 30.