Glaxis Capital Management, a fund with $142 million in regulatory AUM, has recently disclosed its equity portfolio as of the end of the first quarter of 2015, which showed a focus on financial, services, technology, and transportation sectors. Paul Holland, a graduate of Concordia College and Matt Miller, who holds a BA in Finance from Stetson University, founded Glaxis Capital in 2005.
Glaxis’ latest 13F revealed a total of 27 long positions, out of which 19 are stakes initiated during the January-March period. The total value of the equity portfolio stood at $53.77 million and the largest stake is represented by iShares Russell 2000 Index (ETF) (NYSEARCA:IWM), an exchange-traded fund, in which the fund owns 177,430 shares valued at $22.07 million, equal to 41% of the total portfolio value. Glaxis’ previous filing revealed a total of 22 long positions in companies with a market cap exceeding $1.0 billion, which posted a weighted average return of only 1.1%, slightly beating the market.
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Glaxis Capital Management acquired a stake in the Cupertino-based tech giant Apple Inc. (NASDAQ:AAPL) during the January-March period. According to its latest 13F filing, the fund holds 29,250 shares, which represent 6.77% of the fund’s portfolio, the value of the stake amounting to $3.64 million. The addition of Apple Inc. (NASDAQ:AAPL) to Glaxis Capital Management’s equity portfolio seems to be a move against the tide because the majority of hedge funds are ‘Underweight’ the stock, as we stated in a previous article. Jim Roumell of Roumell Asset Management considers that since Apple’s stock gained a lot of ground on the back of strong sales numbers of Iphone 6 in the fourth quarter and other recent developments, the stock doesn’t offer any opportunities for “easy money”. Carl Icahn, David Einhorn and Daniel Benton are among the shareholders with significant positions in Apple Inc. (NASDAQ:AAPL). Einhorn’s Greenlight Capital also highlighted Apple Inc. (NASDAQ:AAPL) in its latest letter to investors, saying that it is “a superior company that merits a premium multiple”.
Holland and Miller also boosted their stake in Macquarie Infrastructure Company LLC (NYSE:MIC) by 30,200 shares to 43,720 shares, valuing almost $3.60 million. This step almost tripled the contribution of the holding in Macquire Infrastructure in the hedge fund’s equity portfolio to 6.69%, from 2.06% in the previous quarter. Another shareholder of the company is Peter S. Park’s Park West Asset Management, which owns a $36.50 million stake in Macquarie Infrastructure Company LLC (NYSE:MIC), the third largest in terms of value. Other funds, such as Brenner West Capital Partners and Tiger Legatus Capital, also own substantial amounts of Macquarie Infrastructure Company LLC (NYSE:MIC) shares in their equity portfolios, the company representing their largest holdings as of the end of last year.
At the same time, Glaxis Capital Management expanded their stake in Facebook Inc (NASDAQ:FB) to 25,000 shares worth $2.06 million. The company’s latest financial results showed that Facebook like most companies with international exposure was hit by currency fluctuations posting revenue of $3.54 billion, slightly below the estimate, although it was still up by 42% on the year. The company also had a strong user growth rate of 3.6%. However, another important aspect that makes investors bullish on Facebook Inc (NASDAQ:FB) is the strong growth rate of its Instagram, Messenger and WhatsApp platforms, which the company is currently seeking ways to monetize and once it does, it will have a significant impact on its top line numbers. Stephen Mandel, Philippe Laffont, Ken Griffin, and David E. Shaw are among billionaire investors with the largest stakes in Facebook Inc (NASDAQ:FB) among the funds we track.
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