Two hedge funds disclosed a couple of bullish moves last Friday. Accretive Capital Management aknowledged a stake, with 4.5 million American Depositary Shares, in Actions Semiconductor Co., Ltd. (ADR) (NASDAQ:ACTS). This position accounts for 7.05% of the company’s American Depositary Shares outstanding. In addition, Meritage Group boosted its exposure to Sally Beauty Holdings, Inc. (NYSE:SBH), and now owns 7.85 million shares of Common Stock, following the purchase of 1,730 shares. This wage represents 5% of the company’s outstanding Common Stock.
Actions Semiconductor Co., Ltd. (ADR) (NASDAQ:ACTS) is a $150 million market cap fabless semiconductor company that designs, develops and markets integrated platform solutions, including system-on-chips (SoCs), firmware, software development tools and reference designs, for manufacturers of portable media players. According to the 13G filed by Accretive Capital Management, the fund beneficially owns 4.5 million shares, worth almost $10 million. This stake makes it the largest institutional shareholder (amongst those we track) at Actions Semiconductor Co., Ltd. (ADR) (NASDAQ:ACTS), trailed by Josh Goldberg’s G2 Investment Partners Management and Jim Simons’ Renaissance Technologies. These funds own 2.42 million shares and 1.99 million shares of the company, respectively.
Sally Beauty Holdings, Inc. (NYSE:SBH) is a $4.3 billion market cap specialty retailer and distributor of professional beauty supplies with operations principally in North America, South America and Europe. The company saw Meritage Group boost its exposure recently; after adding 1,730 shares to its holdings, the fund owns 7.85 million shares, which account for 5% of the company’s outstanding stock, and make it the largest institutional shareholder at the company –amongst those we track.
Other major funds betting on Sally Beauty Holdings, Inc. (NYSE:SBH) are John Griffin’s Blue Ridge Capital and Israel Englander’s Millennium Management, which hold 5.39 million shares, and 1.71 million shares, respectively. However, both of them (same as most of the top 10 institutional investors) decreased their stakes in the company over the last reported quarter.
Accretive Capital Management, LLC (ACM) is a Madison, Connecticut-based investment advisor founded in 2000 by Richard E. Fearon, Jr. ACM is the investment advisor to an investment fund targeting undervalued small and microcap businesses which represent attractive take-private candidates.
Meritage Group is a privately owned hedge fund sponsor based in San Francisco, California, since 2006. It is run by Mark Mindich, who had previously served as COO of the Meritage Division at Jim Simons’ Renaissance Technologies.
Disclosure: Javier Hasse holds no positions in any stocks or funds mentioned
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