Valeant Pharmaceuticals Intl Inc (VRX), Ctrip.com International, Ltd. (ADR) (CTRP): Hound Partners’ Picks Absolutely Destroyed The Market in Q1

A stake of 3.06 million shares in Tesoro Corp. (NYSE:TSO) was Hound’s sixth-largest entering 2015 and was a very valuable position given the stock’s gains of 23.36% during the first quarter. The stock’s rise of nearly 75% over the past calendar year is especially impressive given it’s a part of the battered energy sector, though its petroluem refining business is actually improved by the decrease in oil prices, improving margins. The quantitative analysis-based fund D E Shaw was the largest investor in Tesoro Corp. (NYSE:TSO) among the funds in our database, and had increased its position by 9% during the fourth quarter.

A position in Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was Hound’s largest long position and helped it achieve its strong performance during the past quarter, as its value rose by 21.31%. The position of had been increased by 14% during the fourth quarter to 9.43 million shares, and accounted for 11.59% of the fund’s portfolio value. Spirit AeroSystems Holdings, Inc. (NYSE:SPR) was a top pick or top new pick of several funds heading into 2015, includingNoah Levy and Eugene Dozortsev’s Newtyn Management, Matt Sirovich and Jeremy Mindich’s Scopia Capital, and Anand Desai’s Darsana Capital Partners.

Hound Partner’s new 2.69 million share position in Informatica Corporation (NASDAQ:INFA) during the fourth quarter paid immediate dividends, as the stock rose by an even 15% during the following quarter. It was reported that Paul Singer of Elliott Management had taken an activist position in the company earlier this year and would push for a sale, which eventually occurred just days ago as the company was bought by Permira Advisers LLC and the Canada Pension Plan Investment Board and taken private. Shares have spiked another 9% in April upon the announcement of that deal, which will pay shareholders $48.75 per share, a 25% increase from the start of the year, when Informatica Corporation (NASDAQ:INFA) was trading at $38.14.

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