Whitney Tilson’s Top Stock Picks at the End of June

Moving on to Tilson’s second top stock pick, Platform Specialty Products Corp (NYSE:PAH). As of June 30, the fund owns 271,140 shares of the company, worth almost $7.0 million. Although shares of  Platform Specialty Products Corp (NYSE:PAH) remained relatively range-bound throughout the second-quarter, they have slumped in the past few weeks with most of that decline coming after the company’s announcement on July 15 that it will be acquiring British chemicals and materials manufacturer Alent for about $2.1 billion. The company highlighted that in the three years post this acquisition it expects to achieve $50 million annually in cost savings. On July 15, analysts at Nomura released a note in which they reiterated their ‘Neutral’ rating on the stock of Platform Specialty Products Corp (NYSE:PAH), while upping their price target to $29 from $25. Platform Specialty Products Corp (NYSE:PAH) is a favorite small-cap stock among several billionaire investors we cover. Funds like Pershing Square, John Griffin’s Blue Ridge Capital and Daniel S. Och’s Oz Management reported a significant stake in the company at the end of second-quarter.

With a stake of 371,106 shares valued at $5.14 million at the end of June, Reading International, Inc. (NASDAQ:RDI) represents Tilson’s third-largest stake. Tilson acquired a stake in Reading International, Inc. (NASDAQ:RDI) during the fall of 2014 when it traded in the $9-11 range. The company is the fourth largest movie exhibitor in Australia and third largest in New Zealand, it also operates two prominent theatres – Cinema 123 and Union Square Theatre in New York. On June 15, the company announced that its Board of Directors has appointed Ellen M. Cotter as the company’s interim president and CEO. Ellen M. Cotter replaced James J. Cotter. Jr., who took over the CEO role, after James Cotter, Sr. the patriarch of the controlling family passed away in September last year. In a recently reported 13D filing, famous investor and owner of NBA team Dallas Mavericks billionaire Mark Cuban reiterated that he owns 207,611 shares of the company which he bought in 2012. Among the hedge funds we track, Jim Simons‘ Renaissance Technologies held the largest stake of 629,100 shares of Reading International, Inc. (NASDAQ:RDI) at the end of the first quarter.

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