With Stock Returns Of Over 205% in the Last Year, This Fund Is Proof That Hedge Funds Aren’t Going Anywhere

Dell Technologies Inc (NYSE:DVMT)

Dell Technologies Inc (NYSE:DVMT) has been a major winner for Sessa Capital’s portfolio this year. The fund initiated its stake in the newly formed company during the final quarter of 2016 and didn’t make any changes to it during the first-quarter of this year. Regardless, the value of its stake in the company jumped to $37.23 million from $31.94 million during the first-quarter, owing to a rally in Dell Technologies Inc (NYSE:DVMT)’s stock, which is currently trading up by 20% year-to-date.

Dell Technologies Inc (NYSE:DVMT) came into existence after Dell, Inc. completed its acquisition of EMC in September of last year. When the Dell-EMC merger was announced, analysts had expected the deal to be complicated because of EMC’s majority interest in publicly traded company VMware (NYSE:VMW). In order to simplify the transaction, Dell announced that shareholders of EMC would receive $24.05 in cash and 0.111 shares of a newly created tracking stock for each share of EMC that they tendered. Dell Technologies represents this tracking stock. Since it started trading last September, the stock is up by 31%. During its most recent quarterly results, Dell Technologies revealed that it has paid back $7 billion in debt and bought $824 million of Class V stock since the closing of the EMC deal.

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