Tiger Legatus Capital’s Returns, AUM, and Holdings

Starting with the additions to Tiger Legatus Capital’s portfolio, the biggest one was Microsoft Corp (MSFT). The fund established a position in the company worth $19.72 million as of June 30, holding 200,000 shares. Smart money investors from our database were bullish on Microsoft, with 161 hedge funds long the stock on June 30, versus 152 at the end of the first quarter.

The second-largest new stake was invested in Pandora Media Inc. (P), 1.80 million shares of which the fund acquired during the second quarter, obtaining a position that was valued at around $14.18 million at the end of Q2. Pandora Media Inc. (P) is an internet radio and music streaming provider in the U.S. It was founded back in 2000 and has continually evolved since then, with Pandora’s streams being chosen by the feedback of its users. Its primary features are free with advertisements and there are additional features for paid subscribers. Among the hedge funds from Insider Monkey’s system, 35 were long the stock at the end of Q2, down by four from the prior quarter. Other new additions to Tiger Legatus’ portfolio included Google Inc. (GOOG), Wynn Resorts Ltd (WYNN) and Starz Acquisition Llc (STRZA).

While Tiger Legatus Capital decreased its stake in The Stars Group (TSG) by 2% during the second quarter, it still accounted for more than half of its 13F portfolio at a whopping 64.89%. On June 30 its largest stake counted 5.97 million shares that were valued at $216.62 million. The Canadian gaming and online gambling company has enjoyed increased interest among the hedge funds from our database, as 60 of them reported long positions in the company as of the end of June, versus 26 as of the end of March.

There were four companies that Tiger Legatus Capital completely lost faith in during the second quarter. The biggest stake the fund sold out of was in TrueCar, Inc. (TRUE), being valued at $19.87 million on March 31 and counting 2.1 million shares. Hedge funds that we track are also starting to slowly lose interest in TrueCar, Inc. (TRUE), as 17 reported long positions in the company as of June 30, down by three from the March 31. Next in line is Macquarie Infrastructure Company LLC (MIC), in which the fund previously held 5,000 shares that were worth $18.47 million. The other two stocks the fund dumped in Q2 were Alibaba Group Holding Limited (BABA) and Nexstar Media Group Inc. (NXST).

Disclosure: None