Did Altalis Capital Partners Make The Right Move Cutting Exposure To News Corp (NWSA), DISH Network Corp (DISH) & Two Other Stocks?

Although they have not yet given up on DISH Network Corp. (NASDAQ:DISH), Fox and Elder slightly decreased their fund’s exposure to the stock in Q3. According to its latest 13F filing, Altalis Capital Partners held 133,430 shares of the satellite TV company, a position valued at $7.31 million at the end of the third quarter. The stock returned 4.5% during that quarter.

At the end of the second quarter, a total of 52 of the hedge funds that we follow were long this stock, a slight increase of 2% from the first quarter of 2016. More specifically, Eagle Capital Management was the largest shareholder of DISH Network Corp. (NASDAQ:DISH), with a stake worth $918.5 million reported as of the end of June. Trailing Eagle Capital Management was Tourbillon Capital Partners, which amassed a stake valued at $193.6 million. GAMCO Investors and York Capital Management also held valuable positions in the company.

After a woeful performance, Houghton Mifflin Harcourt Co (NASDAQ:HMHC) fell out of favor with the management of Altalis Capital Partners. Over the course of the third quarter, the fund’s stake was slashed by 34% to 74,562 shares worth $1 million at the end of September. The stock continued its slide, falling 14.2% during the third quarter.

Heading into the third quarter of 2016, a total of 24 of the hedge funds tracked by Insider Monkey were long this stock, up by 9% from the previous quarter. When looking at the institutional investors followed by Insider Monkey, Kevin Michael Ulrich and Anthony Davis’ Anchorage Advisors has the number one position in Houghton Mifflin Harcourt Co (NASDAQ:HMHC), worth close to $314 million, comprising 7.5% of its total 13F portfolio. The second most bullish fund manager is Glenhill Advisors, led by Glenn J. Krevlin, holding a $123 million position. Some other professional money managers with similar optimism comprise Gilchrist Berg’s Water Street Capital, Marc Lasry’s Avenue Capital, and Robert Rodriguez and Steven Romick’s First Pacific Advisors LLC.

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