Whitney Tilson (Trades, Portfolio), founder and managing partner of Kase Capital Management (formerly T2 Partners LLC), which manages three hedge funds, traded in 14 stocks in the third quarter. In the last 12 months, he has traded in 21 stocks with an average return of 15.1%.
In the third quarter, Tilson added no new stocks and sold all but one of the 14 stocks in which he did trade – SodaStream International Ltd. (SODA, Financial), maker of home carbonation devices. He initially invested in SodaStream in the first quarter of this year and has raised his stake in each quarter since. In the third quarter, Tilson increased his position in the company to 96,198 shares, an increase of 25.9%.
The purchase had a 1.13% impact on Tilson’s portfolio.
Tilson reduced his positions in Howard Hughes Corp (HHC, Financial), Avis Budget Group Inc (CAR, Financial), Hertz Global Holdings Inc (HTZ, Financial), Berkshire Hathaway Inc (BRK.B, Financial), Micron Technology Inc (MU, Financial), Platform Specialty Products Corp (PAH, Financial), Goldman Sachs Group Inc (GS, Financial), Citigroup Inc (C, Financial), Netflix Inc (NFLX, Financial), Air Products & Chemicals Inc (APD, Financial), American International Group Inc (AIG, Financial), magicJack VocalTec Ltd (CALL) and Boeing Co (BA).
Tilson first invested in the Howard Hughes Corp, a Dallas-based real estate development company, at the end of 2010, but his stake has dropped in each quarter since Q4 2012. In the third quarter of 2014, he reduced his stake by 16.7% to 40,396 shares.
The transaction had a -1.9% impact on Tilson’s portfolio.
Tilson’s stake in Avis Budget Group Inc, the parent company of Avis Rent a Car System, Budget Rent a Car, Budget Truck Rental and Zipcar, has gone down in each quarter this year. It went down by 22.94% to 58,713 shares in the third quarter.
The reduction in his holdings had a -1.56% impact on Tilson’s portfolio.
After adding to his position in the second, third and fourth quarters of 2013, Tilson’s position in Hertz Global Holdings Inc, a Florida-based rental car company with nearly 150 locations worldwide, has been reduced in each of the three quarters in 2014. It went down by 23.74% in the quarter just ended, when his stake in Hertz was 96,890.
The impact of the transaction on Tilson’s portfolio was -1.26%.
Berkshire Hathaway (BRK.A) (BRK.B, Financial), Warren Buffett (Trades, Portfolio)’s multinational holding company based in Omaha, Nebraska, was reduced by 17.34% in Tilson’s portfolio. Tilson has reduced his holdings in Berkshire Hathaway in every quarter since the fourth quarter of 2012. His stake in the company is now 31,132 shares.
The impact of the transaction on Tilson’s portfolio was -1.23%.
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