Scopia Capital, the other hedge fund we are covering in this article, is a value-driven hedge fund established by Matt Sirovich and Jeremy Mindich in April 2001. The New York-based firm mainly employs a fundamentals-based investment approach, which has turned out to be quite successful throughout the course of the fund’s existence. Scopia Capital has delivered an annualized return of 9.65% from its inception through August 2012, and preserved a strong downside protection over the period. Scopia Capital manages a public equity portfolio with a market value of $5.15 billion as of June 30.
Spirit AeroSystems Holdings Inc. (NYSE:SPR) operates as a non-original equipment manufacturer that designs, engineers, and manufacturers large commercial aircraft structures worldwide. The stock is currently trading near its all-time high, gaining over 30% year-to-date amid strong demand for jetliners. Just recently, Greg Smith, the CFO of The Boeing Company (NYSE:BA), has claimed that the company has seen the strong demand for its jetliners continuing, which is great news for Spirit AeroSystems given that it has work on all Boeing programs at the moment. Even though there are some concerns that the current boom in demand may not last for long, Boeing doesn’t see a slowdown coming just yet. Spirit AeroSystems recently revealed its financial results for the second quarter of 2015, posting revenues of $1.7 billion, down by 6% year-over-year. However, the company delivered net income of $155 million or $1.11 per diluted share for the quarter, compared to net income of $143 million or $1.01 reported in the same quarter a year ago. At the same time, Spirit’s revenue guidance for the full-year 2015 was not changed, with the company anticipating it to be in the range of $6.6 billion and $6.7 billion. Jonathan Auerbach’s Hound Partners is one of the largest shareholders in Spirit AeroSystems Holdings Inc. (NYSE:SPR) within our database, holding a stake of 10.15 million shares as of June 30.