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Activist Investor Paul Singer's Top Five Holdings
Posted by: Monica Wolfe (IP Logged)
Date: May 21, 2014 05:33PM

Paul Singer (Trades, Portfolio) is the founder and CEO of Elliot Management Corporation as well as the Paul E. Singer Foundation. The guru is an activist investor with his biggest victory coming from the energy company Hess Corp. A 2012 CNN article on Singer claims that losses sustained early in his career led to a “risk aversion” that still guides his investing today.

Singer recently reported his portfolio holdings for the first quarter. Over the past quarter the guru added six new stocks, bringing his total to 47 valued at $5.05 billion. The following five companies are where Singer holds the most of his portfolio.

Hess Corp (HES)

Paul Singer (Trades, Portfolio)’s largest holding is in Hess where he maintains 17,300,000 shares of the company’s stock. This position makes up for 28.4% of his total portfolio as well as 5.04% of the company’s shares outstanding.

During the past quarter the guru upped his stake 1.2% by purchasing 205,000 shares. He bought these shares in the quarterly price range of $73.92 to $83.22, with an estimated average quarterly price of $79.47. Since then the price per share is up approximately 10.8%.

Singer’s historical revenue and net income:

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Hess Corp is a global integrated energy company that operates in two segments, Exploration and Production (E&P) and Marketing and Refining (M&R).

Hess Corp’s historical revenue and net income:

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The analysis on Hess reports that the company’s dividend yield is near a 5-year high, its price is near a 5-year high, and its revenue per share has been in decline over the past five years.

The Peter Lynch Chart suggests that the company is currently undervalued:

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Hess Corp has a market cap of $27.66 billion. Its shares are currently trading at around $88.03 with a P/E ratio of 7.20 and a P/S ratio of 1.36. The company had an annual average earnings growth of 6.80% over the past ten years.

Juniper Networks (JNPR)

The guru’s second largest holding is in Juniper Networks where he holds on to 37,165,600 shares of the company’s stock. This position makes up for 19% of his holdings and 7.33% of the company’s shares outstanding.

During the first quarter Singer upped his holdings 133.36% by purchasing 34,572,700 shares of the company’s stock. He bought these shares in the quarterly price range of $22.48 to $27.95, with an estimated average quarterly price of $26.11. Since then the price per share has dropped approximately -6.1%.

Singer’s historical holding history:

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Juniper Networks designs, develops and sells innovative products and services that together provide its customers with high-performance network infrastructure built on simplicity, security, openness and scale.

Juniper Networks’ historical revenue and net income:

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The analysis on Juniper Networks reports that the company’s operating and gross margins have been in long-term declines and it also notes that the company’s Piotroski F-Score is high, indicating a healthy situation.

Juniper Networks has a market cap of $11.65 billion. Its shares are currently trading at around $24.59 with a P/E ratio of 27.60 and a P/S ratio of 2.60. The company had an annual average earnings growth of 6.30% over the past five years.

Twenty-First Century Fox (FOX)

Singer’s third largest holding is in Twenty-First Century Fox where he holds on to 11,593,804 shares of the company’s stock. This position makes up for 7.1% of his portfolio and 0.50% of the company’s shares outstanding.

During the first quarter Singer upped his position 1.71% by purchasing 195,000 shares of the company’s stock. He bought these shares in the quarterly price range of $30.21 to $35.04, with an estimated average quarterly price of $31.96 per share. Since then the price per share has increased approximately 4.1%.

The guru’s historical holding history:

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Twenty-First Century Fox is a diversified media and entertainment company. Its segments include Cable Network Programming, Television, Filmed Entertainment and Direct Broadcast Satellite Television.

Twenty-First Century Fox’s historical revenue and net income:

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The analysis on Fox reports that the company’s price is near a 10-year high, its revenue has been in decline over the past five years and the company’s dividend yield is at a 1-year high.

The Peter Lynch Chart suggests that the company is currently overvalued:

1400709499376.png

Twenty-First Century Fox has a market cap of $75.07 billion. Its shares are currently trading at around $33.72 with a P/E ratio of 25.20 and a P/S ratio of 2.50.

Riverbed Technology (RVBD)

Paul Singer (Trades, Portfolio)’s fourth largest position goes to Riverbed Technology where he holds on to 14,716,446 shares of the company’s stock. This position makes up for 5.7% of his holdings and 0.50% of the company’s shares outstanding.

The guru did not alter his position in the company over the past quarter. Since his last buy in the fourth quarter of 2013, the price per share has gone up approximately 21.2%.

Singer’s historical holding history:

1400699129598.png

Riverbed Technology develops comprehensive solutions to the fundamental problems of IT performance across wide area networks (WANs). Its products enable its customers to simply and efficiently improve the performance of their applications.

Riverbed Technology’s historical revenue and net income:

1400709838417.png\

The analysis on Riverbed reports that the company’s asset growth is currently faster than its revenue growth. This might mean the company is getting less efficient.

Riverbed Technology has a market cap of $3.15 billion. Its shares are currently trading at around $19.60 with a P/S ratio of 3.00. The company had an annual average earnings growth of 43% over the past five years.

Compuware (CPWR)

Singer’s fifth largest holding goes to Compuware where he holds on to 21,000,000 shares of the company’s stock. This position makes up for 4.4% of the company’s stock as well as 9.78% of the company’s shares outstanding.

Over the past quarter Singer upped his holdings 12.48% by purchasing 2,330,000 shares of the company’s stock. He bought these shares in the quarterly price range of $9.82 to $11.21, with an estimated average quarterly price of $10.53 per share. Since then the price per share has dropped approximately -2.1%.

Singer’s historical holding history:

1400700487712.png

Compuware delivers services and software that enable its customers' important technologies to perform at their peak. It delivers the solutions through software that is installed and run on its customers' owned hardware and applications.

Compuware’s historical revenue and net income:

1400710166201.png

The analysis on Compuware reports that the company’s revenue has slowed down over the past year, its dividend yield is close to a 1-year high and its P/B ratio is close to a 1-year low.

Compuware has a market cap of $2.27 billion. Its shares are currently trading at around $10.42 with a P/S ratio of 2.40. The dividend yield of Compuware is currently at around 4.80%. The company had an annual average earnings growth of 8.50% over the past ten years.

Check out Singer’s entire first quarter portfolio here.

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