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Simcoe Capital Management’s Returns, AUM and Holdings

The largest two positions Simcoe Capital Management held at the end of the third quarter were in Altice Usa Inc. (NYSE:ATUS) and Nexstar Media Group Inc. (NASDAQ:NXST) occupying 15.1% and 12.65% of its 13F portfolio, respectively. The fund raised its stake in communications and media company Altice Usa Inc (NYSE:ATUS) by 14% to 3,047,215 shares, which were valued at $55.27 million at the end of September. In Nexstar Media Group Inc. (NASDAQ:NXST), a television broadcasting and digital media company, the fund actually lowered its stake by 5% to 569,245 shares worth $46.33 million.

It seems the fund is quite optimistic when it comes to Donnelley Financial Solutions Inc. (NYSE:DFIN) and On Semiconductor Corp (NASDAQ:ON), since these are the companies in which the fund increased its stakes the most during Q3. In Donnelley Financial Solutions Inc. (NYSE:DFIN) the fund’s stake went up by 70% to 1,684,265 shares valued $30.18 million. As for On Semiconductor Corp (NASDAQ:ON), the fund purchased 2,149,450 of the company’s shares for $39.61 million, that way increasing its stake in the company by 51%.

In the meantime, the fund trimmed its positions in a number of companies, some of them being Liberty Broadband Corp (NASDAQ:LBRDA) and Fuller H B Co (NYSE:FUL), by 18% and 1%, respectively. Liberty Broadband Corp (NASDAQ: LBRDA) was the company in which the fund definitely lost interest, holding only 56,957 shares worth $4.8 million at the end of Q3. When it comes to Fuller H B Co (NYSE:FUL), the situation is a bit different — although the fund lowered its holding in the company to 632,860 shares valued at $32.69 million, the company is still one of the fund’s top five largest positions, occupying 8.93% of its portfolio.

Disclosure: None. This article was originally published at Insider Monkey.

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