Paul Singer

Last Update: 11-16-2015

Number of Stocks: 56
Number of New Stocks: 8

Total Value: $5,124 Mil
Q/Q Turnover: 20%

Countries: USA
Details: Top Buys | Top Sales | Top Holdings  Embed:

Paul Singer Watch

  • Paul Singer Buys 5% of 'Dramatically Undervalued' Alcoa

    Paul Singer (Trades, Portfolio), founder of hedge fund Elliott Management, took an active stake of 67,064,200 shares in Alcoa (NYSE:AA), a company trading below book value, on Nov. 12, securities filings released today show.


  • Paul Singer Acquires Stake in Comcast

    Since his founding of Elliott Management in 1977, Paul Singer (Trades, Portfolio) has experienced only two down years, primarily because losses in the early years of his investing career made him disinclined to take substantial risks. Even so, he has a reputation as an activist when it comes to underperforming companies, which makes his quarterly purchases of special interest, and some of his second-quarter acquisitions were considerable.

    Singer’s most noteworthy new buy of the second quarter was his purchase of a 1,940,642-share stake in Comcast Corp. (NASDAQ:CMCSA), a Philadelphia-based mass media company, for an average price of $58.68 per share. The transaction had a 1.65% impact on Singer’s portfolio.


  • The Delivering Alpha Unfiltered Interview With Paul Singer

    Paul Singer (Trades, Portfolio) is the founder and chief of hedge fund Elliot Management which manages more than $25 billion for investors.

    He is known well for taking activist positions and agitating for positive change at companies. He also has done well investing in and betting against sovereign debt.


  • Paul Singer Reduces His Position in Juniper

    Paul Singer (Trades, Portfolio) of Elliott Management recently reduced his position in Juniper Networks, Inc. (NYSE:JNPR). Singer is the founder of Elliott Management which currently manages approximately $6.8 billion in equity assets.

    On July 24 Singer sold 27,519,345 shares of Juniper from his portfolio reducing his stake to 11,721,655 shares or 4.72% of his portfolio. After the sell his weighting in technology was reduced to 26.41% with his largest technology holding in EMC Corporation (NYSE:EMC).


  • Paul Singer Sells More Than One-Third of Stake in Fortress Biotech

    Guru Paul Singer (Trades, Portfolio), who founded Elliot Management in 1977, sold more than one-third of his stake in Fortess Biotech Inc (NASDAQ:FBIO), a biopharmaceutical company with offices in New York and Massachusetts, on July 17. That was the day the company announced that its subsidiary, Altamira Bio, attained a license to develop the treatment of hyposialylation disorders.

    The transaction had a -0.05% impact on Singer's portfolio.


  • Tocqueville Gold Strategy Investor Letter - Q2 2015

    What is required to restore investor interest in gold? In our opinion, a prolonged bout of financial-market adversity would suffice. After all, the cornerstone of coordinated central-bank policy since 2008 has been the levitation of financial assets via Zero Interest-Rate Policy (ZIRP) and Quantitative Easing (QE) by forcing investors into risky assets. We believe that nothing would serve better to undermine confidence in central bankers than a bear market in bonds and equities. The roof above the dollar gold price has been built brick by brick from confidence in central bankers.

    In our Q12015 Gold Strategy letter, we stated:


  • Paul Singer: Government Action Has Made Valuation Efforts Futile

    Global quantitative easing has led to all kinds of implications. One of these is how to go about correctly valuing assets around the world. How do you value something when it is very hard to have any confidence in the paper currency that it earns? And what discount rate do you apply in a zero interest rate world?

    Paul Singer thinks we are in an unprecedented place in 2015.


  • Paul Singer's undervalued stocks trading with low P/E ratio

    Paul Singer (Trades, Portfolio) founded Elliot Management in 1977 and now it manages more than $8,000 million in assets with about 60 stocks. Singer is well-known for taking an activist investor stance in underperforming companies, and for buying sovereign debt at a discount, including countries such as Peru, Democratic Republic of the Congo, and Argentina.

    These are the companies in his portfolio that are trading with a very low P/E ratio and even look undervalued according to the GuruFocus’ DCF calculator.


  • Paul Singer Sells Stake in Family Dollar Stores

    Guru Paul Singer (Trades, Portfolio) sold his stake in Family Dollar Stores Inc (NYSE:FDO), a North Carolina-based variety store chain, earlier this week, selling 8,236,775 shares for an average price of $79.39 per share. The transaction had a -8.09% impact on Singer’s portfolio.

    The day after Singer’s stock sale was announced, the merger of Dollar Tree Stores Inc’s (NASDAQ:DLTR) $8.5 billion purchase of Family Dollar Stores was completed, ending Dollar Tree’s year-long quest to acquire its competitor and creating the largest dollar store chain in the continental U.S. and Canada. Annual revenue is expected to be around $19 billion.


  • Buffett Burgers and the Halleujah Chorus – CMG Capital

    “People are habitually guided by the rear-view mirror and, for the most part, by the vistas immediately behind them.” – Warren Buffett (Trades, Portfolio)

    I was the keynote speaker last night at a large advisor client event in suburban D.C. The title of my presentation was “Buffett Burgers.” With five boys in the house, we find ourselves often grilling Bubba Burgers; thus the incredible inspiration for my presentation. I know, cliché – but I think it went well.


  • Paul Singer Adds CTXS To His Portfolio

    Paul Singer (Trades, Portfolio) of Elliot Management added Citrix Systems Inc (NASDAQ:CTXS) to his portfolio on June 1. Singer's portfolio consists of 60 stocks, valued at $8.08 billion and has an 8% quarter-over-quarter turnover.

    The most heavily weighted sector in Singer's portfolio is technology, which consists of 31.7% of his portfolio. The second most heavily weighted sector is energy, which makes up 21.2% of the portfolio and the third is ETF, options, preferred, which is 15.4% of the portfolio.


  • Singer Takes Activist Stake in Citrix Systems

    Paul Singer (Trades, Portfolio), the activist investor and founder of Elliott Management, on Thursday disclosed a stake in IT solutions company Citrix Systems Inc. (NASDAQ:CTXS), where he is pushing for change.

    Singer’s Citrix stake reported to the SEC consisted of 3,612,300 shares in his Elliott International entity, or 2.3% of the company. Collectively, three of his entities have “combined economic exposure and voting power” of approximately 7.1% of the company’s shares outstanding. The stake includes call options that expire on June 20 and July 18 of this year.


  • Distressed Debt Investor Paul Singer Buys Citrix Systems

    Founder of Elliott Management Paul Singer (Trades, Portfolio) initiated a new position in Citrix Systems (NASDAQ:CTXS) by purchasing 3,612,300 shares on June 1, as reported by GuruFocus Real Time Picks.

    Singer picked up the shares for $65.77 per share; the new holding has a 2.94% portfolio weighting. Citrix is engaged in virtualization, networking, and cloud infrastructure. Its products help IT and service providers to manage secure virtual and mobile workspaces.  

  • Shine Your Light Bright – CMG Capital Management

    “We fail to comprehend how owners of claims on money (that is, bondholders) can continue to ignore the fact that the goal of generating more inflation is aimed precisely at reducing the value of their capital. The opportunity, then, is to short bonds.”

    Paul Singer (Trades, Portfolio)


  • Paul Singer Bets On CDK Global Inc.

    Paul Singer (Trades, Portfolio) is the founder of Elliot Management, a hedge fund composed of 73 stocks with a total value of $9,592 million. Singer is well known for taking an activist investor stance in underperforming companies, and for buying sovereign debt at a discount, including countries such as Peru, Democratic Republic of the Congo and Argentina.

    On April 30, he bought 4,197,001 shares of CDK Global Inc (CDK) at an average price of $47.92 and with an impact of 2.11% on his portfolio. With this buy he is now holding 2.62% of shares outstanding of CDK, and he became the second Guru that holds the company. Just a few months before him, the other Guru Eric Mindich bought a big stake of CDK, and he became the main holder: now he holds 2.7% of outstanding shares.


  • Paul Singer Sells Two-Thirds of Stake in National Bank Holdings

    Stocks in financial services are low on the priority list for guru Paul Singer (Trades, Portfolio), founder and CEO of multibillion-dollar hedge fund Elliott Management – they have a 3.2% weighting in his portfolio; energy and technology stocks are his preferences – so it wasn’t surprising when he decided to part with a portion of his stake in National Bank Holdings Corp (NYSE:NBHC), a holding company that serves its clients through a network of 97 banking centers, many of them in Colorado and Kansas City, last week.

    What was surprising was how much he sold.


  • Insiders recently bought OAS and HTWO

    The  All-In-One Guru Screener, can be used to find the most insider buys over the past week by clicking on the insiders tab and changing the settings for All Insider Buying to "1,000,000+ shares at $5,000,000" and Duration to "over the past 7 days."

     Oasis Petroleum Inc (OAS) and HF2 Financial Management Inc. (HTWO) were the two companies with the heaviest buys over the pas week that met the criteria.


  • Paul Singer's Latest Portfolio Increases and Reduction

    Paul Singer of Elliott Management recently upped his stakes in two positions and reduced stakes in one position. Singer's portfolio currently has 83 stocks, valued at $9.59 billion with a quarter over quarter turnover rate of 15%.

    Here's a look at Singer's most recent changes in his portfolio:


  • Paul Singer Adds to Family Dollar Stores Stake in Fourth Quarter

    The fourth quarter of 2014 was a low-key one for guru Paul Singer (Trades, Portfolio), founder and CEO of $20 billion New York-based hedge fund Elliott Management Corporation – at least when compared to previous quarters. Singer hasn’t had so few transactions since the second quarter of 2013, when he had none.

    Singer added to only one existing stake in the fourth quarter – his stake in Family Dollar Stores Inc (NYSE:FDO), in which he initially invested in the third quarter of 2014. It is the 16th-largest stake in his portfolio. Singer paid an average price of $79.42 per share. The transaction had a 1.63% impact on his portfolio.


  • Paul Singer – Founder And CEO Of Hedge Fund Elliot Management Questions The 1% Oil Over-Supply Causing A Price Decline

    Big time hedge fund manager Paul Singer (Trades, Portfolio) notes that the biggest investors in stocks and bonds in the world today are the major world governments through their central banks.

    Singer also implies that something is amiss in the oil market, saying at a Davos panel:


  • Paul Singer: The Price of Instability At Davos

    Paul Singer (Trades, Portfolio) at the World Economic Forum or Davos discuss price instability.


  • Tocqueville Investor Letter - Year End 2014

    It is a little-known fact that gold outperformed all currencies in 2014, except for the US dollar. In dollar terms gold declined 1.7 percent, but as the table below shows, it posted solid gains against all other currencies. While the dollar price of gold was essentially flat in 2014, highly negative media coverage created the impression that gold was a disaster. Negative sentiment weighed heavily on the performance of gold-mining shares, with our benchmark XAU index down 17.3 percent. Meanwhile, dollar bulls appear dangerously overcommitted to the greenback, with open interest at an all-time high. The dollar’s strength relative to other currencies has camouflaged the strength of gold. Both dollar and gold strength in our opinion portend trouble ahead for financial assets (click here). It seems to us that with financial assets at all-time highs and red flags proliferating, this is an opportune moment to acquire cheap wealth insurance in the form of physical metal and precious-metal mining shares.


  • Paul Singer Significantly Increases His Stake In Largest Closed-End Fund In The World

    Paul Singer (Trades, Portfolio) is the largest investor in Fondul Proprietatea, the largest closed-end fund in the world. During the last quarter, Elliot Associates increased their position in Fondul by 25% – from 15.2% to 19.7%. The fund just reported its highest profit ever, 48% up compared to 2013.

    Introduction to Fondul Proprietatea


  • Paul Singer Boosts Family Dollar Stake Ahead of Dollar Tree Merger

    Paul Singer (Trades, Portfolio) is the manager of $25 billion hedge fund Elliott Management, widely known for his investing in distressed debt and bonds of foreign countries, and taking activist positions in several companies.

    On Dec. 1 Singer reported increasing his sizable position in discount retailer Family Dollar (NYSE:FDO) by 54.5% to 5,096,867 shares. At the close of business on Dec. 10, the position represented 4.47% of the company’s shares outstanding.


  • Paul Singer hidden gem – how to profit from forced Fondul Propriretatea tender offer

    Fondul Proprietatea, the largest closed-end fund in the world, has been under pressure from its activist investors. The largest shareholder in this Romanian energy fund is Paul Singer (Trades, Portfolio)´s Elliot Associates, who has 15.2% stake in the fund valued at USD 550 mil. It is Paul Singer (Trades, Portfolio)´s third largest position.

    In September shareholders passed a resolution based on which the Franklin Templeton faces termination of the management contract if the NAV discount does not decrease to 15% (from current 25%) in two thirds of trading sessions between October 1, 2014 and June 30, 2015. To comply with this the Fondul share price needs to rice another 13% to 1.07 Ron per share.


  • Anadarko is a Strong Player with an Interesting Mix Composition

    In this article, let's take a look at Anadarko Petroleum Corporation (NYSE:APC), a $56.08 billion market cap company, one of the largest independent exploration and production companies in the world.

    International operations


  • Cameron International: A Leading Supplier of Oil and Natural Gas Drilling Systems

    In this article, let's take a look at Cameron International Corp (NYSE:CAM), a $13.65 billion market cap company, which is a leading international manufacturer of oil and gas blowout preventers, flow control valves, surface and subsea production systems and related oilfield services products.

    Main drivers


  • Latest Real Time Picks From The Gurus

    The Real Time Picks section of GuruFocus is a great way to ideas from the investing gurus. We currently follow 147 guru portfolios. If a guru makes a purchase or sale of a company in which he or she owns a greater than 5 percent stake, SEC regulations require the trade to be reported within 10 days. Some of the gurus report their trades within 2 days. The type of filing can disclose whether the trade is a passive (Schedule 13G) or activist (Schedule 13D) holding. The link to the filing is available through the Real Time Picks section. The latest picks are from Chuck Royce, Arnold Van Den Berg, Paul Singer, Lee Ainslie, and Mario Gabelli.

    Chuck Royce of Royce & Associates LLC initiated a new holding of 100,000 shares of World Energy Solutions Inc (XWES) at the average price of $4.29 on 08/31/2014, as reported in the latest 13G filings by Chuck Royce (Trades, Portfolio). His new position of 100,000 shares represents 0.79 percent of the shares outstanding. World Energy Solutions offers a range of energy management solutions to commercial and industrial businesses, institutions, utilities and governments to reduce their overall energy costs. Revenue per share has been growing at an annual pace of 14.26 percent over the past five years and earnings are crossing into positive territory after being negative for 2013. The stock is very speculative with a market cap of only $54.7 million and a history of negative earnings. Chuck Royce (Trades, Portfolio) previously sold out of his position in the second quarter but now has decided to get back in. Currently he is the only guru holding the stock.


  • Hidden Gem in Paul Singer Portfolio

    Elliot Associates´ third-largest investment remains off radar screens for most investors who follow what Paul Singer (Trades, Portfolio) does. The reason is that the investment is outside the U.S. The 550 mln USD position yielded him 54% in the last 12 months. Anybody who likes what Paul Singer (Trades, Portfolio) does should not neglect Fondul Proprietatea.

    Fondul Proprietatea is a Romanian restitution fund that was created by the Romanian state to reimburse Romanian citizens for the assets that were taken from them by the communist regime. Since 2010 the fund is managed by Franklin Templeton and since 2011 the fund is listed on Bucharest Stock Exchange.


  • Paul Singer Buys Stake in Interpublic Group, Calls Shares 'Undervalued'

    Paul Singer (Trades, Portfolio), founder of New York hedge fund Elliott Management Corp, purchased a 2.45% stake in Interpublic Group Companies, according to GuruFocus Real Time Picks.

    In total Singer purchased 10,367,502 shares of the company on July 14, when its price closed at $19.41 per share. The stock price then hit a 10-year high of $20.64 on July 29, before falling back to close at $19.71 on Friday. Overall Interpublic is up 24% for the past year.  

  • Kyle Bass and Paul Singer Top Guru Buys of the Week

    The following information is a highlight of the real-time guru activity we saw this week. To view more information on these gurus, check out their guru portfolios. The “Real Time Picks” reports the stock purchases and sells that Gurus have made within the prior two weeks. If a Guru makes a purchase or sell of a company in which they own a greater-than 5% stake, SEC regulations require them to report their transaction within two days. This week we saw notable increases and buys in Real Time activity from Kyle Bass (Trades, Portfolio) and Paul Singer (Trades, Portfolio).

    Kyle Bass (Trades, Portfolio)   

  • Elliott Management's Paul Singer Reports Activist Position, 5 Other New Buys

    Paul Singer (Trades, Portfolio) is the founder of Elliott Management, a $24 billion New York-based hedge fund. The money manager is known for being zealous regarding conservative fiscal causes and highly critical of fiscal stimulus and other actions of the Fed. In 2014, he has entered the activist investment space with positions in Juniper and Riverbed, where he is pushing for change.

    The long portfolio of Elliott Management followed by GuruFocus contains 42 positions with a value of $4.4 billion. It is 33.7% weighted in the energy sector, followed by technology at 23.5% and ETF, options and preferred at 22.5%.  

  • What Happened to Tesco?

    The British grocer Tesco (TSCDY) has certainly seen better days. The year 2013 seemed to be the nadir for the company until 2014 rolled around. Last year the company saw declines in its business globally. Its South Korean business was squeezed as the government enacted reduced operating hours for supermarkets. Thailand sales saw declines resulting from the extensive flooding. The company left the U.S. with a massive write-down, and the company’s mere presence in Eastern Europe — well, that needs no explanation. Add on top of that that its UK core which the company has been tending to is showing no improvement.

    Today the company was showered with more bad news. The German grocer Aldi grew its market share to 4.3% from 3.3% in a year-on-year comparison for the past three months. Tesco nearly shed a full percentage point to 28.7% for the period. The UK supermarket industry which has traditionally had some of the highest margins in the Western world is seeing those good fortunes crumble.


  • Selling Giants - Paul Singer’s Elliott Management Update

    With a background in law, Guru Paul Singer is good at slaying giants, like his recent legal victory over Argentina, and now he is selling a few giants.

    In the second quarter of 2013, Paul Singer, founder of Elliott Management, sold out five companies and reduced Delphi Automotive PLC (NYSE:DLPH), which averaged gains of 92% for him across seven quarters and is up 83% over 12 months. Another theme of Singer’s recent sells was unloading two large positions in the giants of software infrastructure and computing, Microsoft Corporation (NASDAQ:MSFT) and Oracle Corporation (NYSE:ORCL).  

  • Market Bear Paul Singer’s Top Third Quarter Stock Picks

    Paul Singer is the founder and CEO of Elliott Management, a hedge fund with $17 billion in assets under management, which focuses primarily on distressed debt and has returned an average of 14% a year since its founding in 1997. Elliott’s portfolio was recently added for tracking at GuruFocus. As a current market bear, Singer wrote a scathing letter earlier in August 2011 denouncing the Federal Reserve for artificially low rates and quantitative easing that distorted prices.

    He declared in the letter: “We should demand that the Fed start commenting — in their beautiful prose — on the value of the dollar. They also need to start normalizing interest rates carefully, while developing intelligent policies to deal with the possible resultant decline in many asset prices (possibly balanced by optimism in the increased probability of sound money policies in the future). Until interest rates are normalized, capital will continue to be misallocated throughout the economy, real investment ‘risk’ will be almost impossible to determine and a firm foundation for solid growth in the American economy cannot be created.”  

  • Paul Singer Bids to Buy Another Tech Company, Compuware Corp

    Paul Singer, the founder and CEO of $20 billion hedge fund Elliott Management Corp., has offered to buy the public software company Compuware Corp. (NASDAQ:CPWR). Singer bid $11 per share for all of its outstanding shares. Compuware’s shares had traded for between $7.35 and $9.53 in the past 52 weeks before the offer was made. Shares then jumped 17% to as high as $11.16 on news of the offer Monday and are priced at $10.76 in Tuesday trading.

    Compuware Corp. is focused on optimizing technology for other businesses, ensuring that the world’s most important technologies perform at their peak. Its clients include 46 of the top 50 Fortune 500 companies and the majority of the most-visited U.S. web sites.  

  • Paul Singer Buys Reed Elesvier

    Paul Singer of Elliott Management has taken on few new positions according to his recent filings.

    Most interesting was a new position of 4.4 million shares in Reed Elesvier (ENL). The $10.5 billion market cap publishing company has moved up from $20 per share to $28 per share since May 2012.  

  • Newest GuruFocus Investor - Paul Singer of Elliott Management

    Paul Singer, founder of $17 billion hedge fund Elliott Management, is the newest investor GuruFocus has chosen to track. Singer has a background in law that set the stage for his formidable distressed debt tactics he has used to profit from bankrupt companies and sue sovereign nations. From 1977, the year he founded his firm (making it one of the oldest hedge funds), to November 2010, he had an annualized net return of 14.4%. As one of the few to foresee and warn of the pending housing crisis in 2008, his fund was only down 3.08% in 2008, compared to the S&P 500 which was down 37% the same year.

    Singer graduated from the University of Rutgers with a B.S. in psychology and then obtained a J.D. from Harvard Law School. He practiced law for four years after graduation at corporate law firms and Donaldson, Lufkin & Jenrette, an investment bank.  

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