Along with its affiliated fund SteelMill, Zach Schreiber‘s PointState Capital recently acquired some 11.67 million shares of AMAYA INC (NASDAQ:AYA). The holding represents about 8.76% of the Canadian company’s outstanding common stock. The $3.3 billion company provides technology-based solutions and products to the global gaming and interactive entertainment industries.
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Zach Schreiber co-founded PointState Capital in 2010 with six former Duquesne Capital employees. The fund started out with $5 billion in assets under management, which has swelled to $14.2 billion today. The market value of the fund’s public equity portfolio stood at $7.39 billion at the end of March, with a majority of its holdings belonging to the healthcare sector. The fund’s public equity portfolio is slightly concentrated as its top ten holdings constitute more than 47% of the portfolio value. During the quarter, a total of 61 new positions were initiated, the most prominent of them being Google Inc (NASDAQ:GOOGL), EOG Resources Inc (NYSE:EOG), and IAC/InterActiveCorp (NASDAQ:IACI).
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The brands under AMAYA INC (NASDAQ:AYA)’s umbrella include PokerStars, Full Tilt, the European Poker Tour, PokerStars Caribbean Adventure, Latin American Poker Tour and the Asia Pacific Poker Tour. Together they form the world’s largest poker business. AMAYA INC (NASDAQ:AYA)’s stock only started trading this month on the NASDAQ and there are no other known shareholders of the company within our database at this time. AMAYA recently announced that it will spin out its Diamond gaming subsidiary, and the initial public offering is aiming to raise $40.9 million. Diamond Game is primarily involved in the North American lottery industry.
Let’s check out some of PointState’s other recent additions to its portfolio. The fund acquired some 392,000 of Google Inc (NASDAQ:GOOGL)’s Class A shares valued at $217.44 million during the first quarter. The holding represents almost 3% of the fund’s portfolio value. So far this year, Google Inc (NASDAQ:GOOGL)’s stock has appreciated by 2.68%. As companies battle for a greater share in the mobile payments space, Google Inc (NASDAQ:GOOGL) has recently upped the ante, as according to The Wall Street Journal, Google’s new mobile phone payment service, Android Pay, will not charge credit card companies. Andreas Halvorsen‘s Viking Global heads the list of Google Inc (NASDAQ:GOOGL)’s investors that we track, as it holds some 1.64 million shares of the search giant’s Class A stock, valued at $908.85 million.
During the March quarter, PointState initiated a position in EOG Resources Inc (NYSE:EOG) of some 1.26 million shares valued at $115.29 million. The stock price of the $48.98 billion energy company has slid by 2.16% year-to-date. Among the funds that we track, Ric Dillon‘s Diamond Hill Capital is the largest stockholder of EOG Resources Inc (NYSE:EOG), owning some 3.05 million shares valued at $279.60 million.
A stake in IAC/InterActiveCorp (NASDAQ:IACI) was initiated during the first quarter consisting of 1.21 million shares valued at $81.91 million. The holding represents 1.55% of the company’s outstanding common stock and 1.11% of PointState’s portfolio value. So far this year, IAC/InterActiveCorp (NASDAQ:IACI)’s stock has appreciated by a staggering 26%. In its financial results for the first quarter the $6.27 billion media and internet company delivered earnings per share of $0.43, which was $0.08 ahead of expectations, and revenues of $772.51 million, which were in line with the estimates. The hedge fund interest in IAC/InterActiveCorp (NASDAQ:IACI) has increased over the quarter among those that we track, although collectively, they sold off some of their shares. A total of 55 funds had invested $1.66 billion in the company at the end of March compared to 50 firms with $1.75 billion invested at the end of the previous quarter. Christian Leone‘s Luxor Capital Group is the largest among these, holding about 2.69 million shares valued at $181.18 million.
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