Paul Holland and Matthew Miller co-founded Glaxis Capital in 2005. The fund’s equity portfolio has remained fairly concentrated since the end of March last year. While lacking in the diversification aspect, this does show the high conviction of fund managers in their stock picks, which makes it worthwhile to take a look at them. According to Glaxis’ latest filing, it had four equity positions, two of which were in exchange traded funds (ETFs). In comparison the total equity positions amounted to ten at the end of last year. Hence, in this article, we will also dig deeper into the top holdings that were ousted from Glaxis’ portfolio.
Our research determined that following the small-cap stocks, that hedge funds are collectively bullish on, can help a smaller investor beat the S&P 500 by around 95 basis points per month (see more details here).
Amgen, Inc. (NASDAQ:AMGN)
Before being wiped out entirely in the first quarter, Glaxis’ Amgen, Inc. (NASDAQ:AMGN) holding represented 7.88% of the fund’s portfolio at the end of December and comprised 11,100 shares. The decision doesn’t seem to have hurt the firm considering that the stock is down by around 5% so far this year. The Thousand Oaks, California-based biotechnology firm beat both the top and bottom line estimates in its financial results for the first quarter, which also led to the company raising its outlook for 2016. Barry Dargan‘s Intermede Investment Partners raised its Amgen, Inc. (NASDAQ:AMGN) holding by 41% to 199,800 shares during the January-March period.
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Follow Amgen Inc (NASDAQ:AMGN)
Delta Air Lines, Inc. (NYSE:DAL)
Glaxis initiated a stake in Delta Air Lines, Inc. (NYSE:DAL) during the fourth quarter with 43,650 shares accounting for 9.65% of the firm’s portfolio value. Assuming that the firm disposed of its entire holding at the right time during the first quarter, the move could seem right, considering that shares of the $33.15 billion airline company are down by 15% year-to-date. Delta’s first quarter revenue of $9.25 billion came in $20 million short of expectations and marked a 1.5% decline on a year-over-year basis. However, the company’s EPS of $1.32 beat estimates by $0.02. Recently, Delta announced that it had ordered 75 CSeries CS100 planes from Canada’s Bombardier, which is trying to serve a niche market for 100-seat planes. Another fund bearish on Delta Air Lines, Inc. (NYSE:DAL) during the first quarter was Richard L. Haydon‘s Yield Capital Partners as it slashed its holding in the company by 85% to just 35,000 shares.
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Follow Delta Air Lines Inc. (NYSE:DAL)
#3 Amazon.com, Inc. (NASDAQ:AMZN)
At the end of December, Glaxis’ Amazon.com, Inc. (NASDAQ:AMZN) holding represented 12.75% of the fund’s equity portfolio. The stock of Jeff Bezos’ $279 billion e-commerce giant, has gained 5% so far this year, helped by strong first-quarter results the company delivered in the first quarter. The company beat analyst expectations as far as its top and bottom lines for the first quarter were concerned. The popularity of Amazon’s own devices reached impressive levels during this period; its Fire tablets, for example, saw sales more than double as compared to the same period last year, while the $39 Fire TV Stick received over 62,000 5-star reviews. David Keidan‘s Bukingham Capital Management was betting on similar results as it raised its Amazon.com, Inc. (NASDAQ:AMZN) holding by 62% during the first trimester to 28,500 shares.
