Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Was Boardman Bay Capital Management Right To Reduce Exposure To Tableau Software (DATA), Applied Materials (AMAT) & Two Other Stocks?

Will GravesBoardman Bay Capital Management is an equity long/short fund that focuses on investing in highly liquid sectors, mainly technology, media and telecom stocks. It is no wonder then, that tech stocks accounted for 77% of the fund’s equity portfolio at the end of the third quarter. The portfolio’s market value was estimated at $59.6 million, nearly half of the fund’s $120 million worth of assets under management it reportedly had at the end of March 2016.

At Insider Monkey, we have established our own metric for hedge fund performance: we look at the performance of fund’s stock picks that have a market cap of $1 billion and more. According to our data, 35 of Boardman Bay Capital Management’s positions for the third quarter qualified under our assumptions, generating a return of 15.06%, making it one of the best performers for the quarter. Since the fund is heavily invested in tech stocks, we’ll take a look at some of its top stock picks from this sector and how has Mr. Greaves has positioned his fund heading into the fourth quarter.

everything possible/

everything possible/

First we’re going to take a peek at Himax Technologies, Inc. (ADR) (NASDAQ:HIMX). Will Graves chose to liquidate his fund’s position in Himax Technologies, Inc. (ADR) (NASDAQ:HIMX) during the third quarter, despite the stock ending the quarter up by 5.5%. At the end of the previous quarter, Boardman Bay Capital held 453,472 shares. At the end of the second quarter, a total of 24 of the hedge funds tracked by Insider Monkey were long this stock, down by 11% from the first quarter of 2016. More specifically, Prince Street Capital Management was the largest shareholder of Himax Technologies, Inc. (ADR) (NASDAQ:HIMX), with a stake worth $24.8 million reported as of the end of June. Trailing Prince Street Capital Management was Quentec Asset Management, which amassed a stake valued at $22 million. Garelick Capital Partners, Millennium Management, and Shannon River Fund Management also held valuable positions in the company.

Follow Himax Technologies Inc (NASDAQ:HIMX)
Trade (NASDAQ:HIMX) Now!

Having made a big bullish bet on Palo Alto Networks Inc (NYSE:PANW) during the second quarter, Boardman Bay Capital has decided to cash out, having dumped 72% of its holding during the third quarter amid a 29.9% gain registered by the stock. According to its latest 13F filing, at the end of September the fund held just 6,121 shares worth $975,000. At the end of the second quarter, a total of 37 of the hedge funds tracked by Insider Monkey were bullish on this stock, a drop of 12% from the previous quarter. Among these funds, Renaissance Technologies held the most valuable stake in Palo Alto Networks Inc (NYSE:PANW), which was worth $139 million at the end of the second quarter. On the second spot was Alyeska Investment Group which amassed $126.4 million worth of shares. Moreover, SRS Investment Management, Criterion Capital, and Tremblant Capital were also bullish on Palo Alto Networks.

Follow Palo Alto Networks Inc (NYSE:PANW)
Trade (NYSE:PANW) Now!

DOWNLOAD FREE REPORT: Warren Buffett's Best Stock Picks

Let Warren Buffett, George Soros, Steve Cohen, and Daniel Loeb WORK FOR YOU.

If you want to beat the low cost index funds by 19 percentage points per year, look no further than our monthly newsletter.In this free report you can find an in-depth analysis of the performance of Warren Buffett's entire historical stock picks. We uncovered Warren Buffett's Best Stock Picks and a way to for Buffett to improve his returns by more than 4 percentage points per year.

Bonus Biotech Stock Pick: You can also find a detailed bonus biotech stock pick that we expect to return more than 50% within 12 months.
Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.