John Thiessen is the manager of Vertex One Asset Management, a hedge fund whose activity we track as part of our market-beating premium strategy. In this way, since Vertex One Asset Management filed its 13F form with the Securities and Exchange Commission, let’s take a look at some of the largest stakes from the equity portfolio of the hedge fund. Highlights include Deckers Outdoor Corp (NASDAQ:DECK) and Lloyds Banking Group PLC (ADR) (NYSE:LYG).
In this way, Vertex One disclosed its largest stake in Deckers Outdoor Corp (NASDAQ:DECK). The stake involves about 1.1 million shares and has a value of $56.3 million, a decline from the previous quarter value of $77.2 million, when the position contained some 1.4 million shares. The year-to-date return of Deckers Outdoor Corp (NASDAQ:DECK)’s stock amounts to over 41%, while the forward P/E ratio is slightly below 13 and and the PEG ratio is near 2.0. In addition to Vertex One, some other hedge funds held shares of Deckers Outdoor Corp (NASDAQ:DECK), such as Alydar Capital managed by John Murphy and Patrick Mccormack’s Tiger Consumer Management, among others.
In Lloyds Banking Group PLC (ADR) (NYSE:LYG), the hedge fund holds its second-largest stake, which contains 7.3 million shares, worth $28.1 million, an increase of almost 1.7 million shares over the quarter. Since the beginning of the year, the stock of Lloyds Banking Group PLC (ADR) (NYSE:LYG) grew by over 48% since the beginning of the year, with the stock trading at a forward P/E above 18 and a PEG ratio of 0.9.
The next three positions are less significant but should also be mentioned. In Dell Inc. (NASDAQ:DELL), Vertex One’s stake involves 2.5 million shares, worth almost $33.7 million, the stock surging since the first quarter’s amount of 621,700 shares, worth $8.9 million. PHH Corporation (NYSE:PHH) is the next company on the list, in which the hedge fund’s stake contains 1.2 million shares, and is worth $24.9 million, down by approximately 71,000 shares since the end of March. And the last but not the least we should mention the $16.5 million stake held by Vertex One in Greenlight Capital Re, Ltd. (NASDAQ:GLRE), which involves 671,349 shares, an amount unchanged over the quarter.
We should also mention that the total value of the equity portfolio of Vertex One amounts to almost $578.9 million, a decrease from the previous-quarter sum of $725 million. The 13F portfolio of Vertex One contains a total of 83 positions, a decrease by 6 positions over the quarter. Insider Monkey will continue monitoring the activity of John Thiessen’s hedge fund and will keep you in the loop regarding all of its latest investment plays.
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