Simon Sadler‘s Segantii Capital recently filed its 13F form for the reporting period of June 30 with the Securities and Exchange Commission. The market value of the fund’s public equity portfolio significantly decreased to $111.84 million from $457.42 million at the end of the first quarter. The energy sector constituted about 47% of this value. During the quarter a few new positions were added that headed the equity portfolio, including stakes in Halliburton Company (NYSE:HAL), salesforce.com, inc. (NYSE:CRM), and Tata Motors Limited (ADR) (NYSE:TTM).
The Hong Kong-based Segantii Capital was established in 2007 and focuses on investing in Asian securities across global exchanges. The fund employs a catalyst-driven trading strategy relying on the prowess and experience of its investing team. Other strategies employed include relative value, which includes share class arbitrage, and opportunistic events including IPOs, earnings releases, and calendar-driven events. Sadler has more than 20 years of trading experience in Europe and Asia. Prior to Segantii he had worked at managerial positions at HSBC Securities, Deutsche Securities, and Dresdner Kleinwort Wasserstein Securities.
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Coming back to the fund’s new additions, the top spot is occupied by Halliburton Company (NYSE:HAL). Owning 1.06 million shares valued at $45.42 million, the position represented more than 40% of the fund’s portfolio and was the largest equity holding. Although up by nearly 8.6% year-to-date, Halliburton Company (NYSE:HAL)’s stock price has slid by more than 37% over the last 12 months owing to an oil supply glut which has been weighing on the company’s profitability. However, by managing its costs in a more efficient manner Halliburton Company (NYSE:HAL) has impressed investors. Evidence of this can be seen in the company’s financial results for the second quarter in which it managed to beat both the top and bottom line estimates. Mario Gabelli‘s GAMCO Investors has reported ownership of over 1.86 million shares of Halliburton as of June 30 through Gabelli Funds and GAMCO Investors Inc.
