Aristeia Capital, managed by Robert Henry Lynch, recently filed its 13F with the U.S. Securities and Exchange Commission. According to the filing, the value of the fund’s equity portfolio jumped to $3.9 billion from $2.4 billion in the first quarter. Over the quarter, Aristeia Capital acquired more than 15 new stocks, and reduced its stakes in over 14 stocks. The fund’s equity portfolio is mainly invested in consumer, finance, material, and technology stocks. It’s most valuable stakes include CBS Corporation (NYSE:CBS), Weyerhaeuser Co (NYSE:WY) and EMC Corporation (NYSE:EMC). Let’s take a look at these holdings.
On the firth spot is CBS Corporation (NYSE:CBS), a new position, where Aristeia Capital holds 7.06 million shares, with a reported value of $438.5 million. CBS Corporation (NYSE:CBS) is a mass media company that has a market cap of $31.3 billion. Last month, the company announced the full redemption of its outstanding 8.875% senior notes due May 15, 2019. The redemption date is September 20, 2014.
Pentwater Capital Management, led by Matthew Halbower, holds 16.20 million shares of CBS Corporation (NYSE:CBS). Another hedge fund, Eric W. Mandelblatt’s Soroban Capital Partners disclosed ownership of 8.34 million shares of the company.
Second place is occupied by Weyerhaeuser Co (NYSE:WY), a new position, where Aristeia Capital reported owning 9.38 million shares, worth $310.4 million. Weyerhaeuser Co (NYSE:WY) is a forest products company that operates in five business segments, including wood products and real estate. Other significant shareholders of Weyerhaeuser Co. (NYSE:WY) include First Eagle Investment Management, run by Jean-Marie Eveillard, and Martin Whitman’s Third Avenue Management, holding 14.45 million shares and 9.37 million shares, respectively.
Aristeia Capital upped its stake in EMC Corporation (NYSE:EMC) to 10.55 million shares from 10.0 million shares held previously. The holding is valued at $277.8 million. EMC Corporation (NYSE:EMC) enables businesses and service providers to transform their operations and deliver IT as a service. The company has a market cap of $59.2 billion.
For the second quarter of 2014, EMC Corporation (NYSE:EMC) reported revenue of $5.9 billion, representing an increase of 5% year over year. It reported GAAP net income attributable to the company of $589 million and GAAP earnings per weighted average diluted share of $0.28. For 2014, the company expects consolidated revenues to be $24.6 billion for 2014. In addition, EMC Corporation (NYSE:EMC) expects to repurchase an aggregate of $3.0 billion of the company’s common stock in 2014.
Aside from Aristeia Capital, Mason Capital Management, managed by Kenneth Mario Garschina, disclosed holding 7.91 million shares of EMC Corporation (NYSE:EMC). Another hedge fund, Levin Capital Strategies, led by John A. Levin, revealed ownership of 6.16 million shares of the company.
Aristeia Capital is a New York based hedge fund run by Robert Henry Lynch. Having previously worked as an analyst for Delaware Bay, Lynch decided to start his own fund in 1997. Aristeia Capital a privately owned hedge fund that invests in publicly traded stocks.
Disclosure: none
