Was Quentec Asset Management Right to Bet on Micron Technology, Inc. (MU), Fabrinet (FN), & Others

Quentec Asset Management acquired 822,519 shares of Lumentum Holdings Inc (NASDAQ:LITE) in the June quarter and held a $21.31 million stake containing 880,525 shares at the end of June. The investment paid off, as the stock surged by 72.6% during the third quarter. The number of funds tracked by us long Lumentum declined by eight to 25 during the second quarter. Among these funds, Marshall Wace LLP, managed by Paul Marshall and Ian Wace, amassed the most valuable position in Lumentum Holdings Inc (NASDAQ:LITE), having disclosed a $25.1 million stake as of the end of June. Some other hedge funds and institutional investors that held long positions encompassed John Overdeck and David Siegel’s Two Sigma Advisors, George McCabe’s Portolan Capital Management and Mark Kingdon’s Kingdon Capital.

Quentec Asset Management upped its stake in Micron Technology, Inc. (NASDAQ:MU) by 110% to 1.35 million shares during the second quarter; the value of the stake amounted to $18.57 million. In the following three months, Quentec saw the stock appreciate by 29.2%. Including Quentec, 67 funds from our database held shares of Micron at the end of June, up by 31% over the quarter. Arrowstreet Capital was the largest shareholder of Micron Technology, Inc. (NASDAQ:MU), with a stake worth $107.7 million reported as of the end of June. Trailing Arrowstreet Capital was Stelliam Investment Management, which amassed a stake valued at $93.5 million. Orbis Investment Management, D. E. Shaw, and Columbus Circle Investors also held valuable positions in the company.

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