Tracking Edward Lampert’s RBS Partners Portfolio – Q2 2017 Update

• Edward Lampert’s 13F portfolio value decreased from $662M to $544M this quarter.
•  RBS Partners marginally decreased Seritage Growth Properties. The Lands End & Sears stakes saw increases after the quarter ended.
• The largest three individual stock positions are AutoNation, Sears Holdings, and Lands End and they add up to ~90% of the portfolio.

Edward Lampert’s 13F portfolio value decreased ~18% $662M to $544M this quarter. The portfolio is very concentrated with recent 13F reports showing just ~8 stakes. The top five positions are AutoNation (AN), Sears Holdings (SHLD), Lands’ End (LE), Seritage Growth Properties (SRG), and Sears Canada (SRSC) and they add up to ~98% of the 13F portfolio.

Below is a spreadsheet that shows the changes to Edward Lampert's RBS Partners US long portfolio holdings as of Q2 2017. For a look at how the portfolio has progressed, see our previous update:

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

Tracking Jim Chanos’ Kynikos Portfolio – Q2 2017 Update

• Jim Chanos’ 13F portfolio value decreased from $427M to $329M this quarter.
• Kynikos decreased large stakes in a number index ETFs during the quarter.

Jim Chanos’ 13F portfolio value decreased ~23% from $427M to $329M this quarter. Recent 13F reports show around 45 positions. As Kynikos is focused on short-selling, his long positions covered in the 13F are probably hedged. For an introduction to short-selling, check-out the book "Short Stories from the Stock Market: Uncovering Common Themes Behind Falling Stocks to Find Uncommon Short Ideas".

Below is a spreadsheet that shows the changes to Jim Chanos' Kynikos US long portfolio holdings as of Q2 2017. To have an idea of how the holdings have progressed click on our previous update:

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .    

Tracking Dinakar Singh’s TPG-Axon Portfolio – Q2 2017 Update

• Dinakar Singh’s 13F portfolio value decreased from $100M to $89M this quarter.
• TPG-Axon reduced Allergan & Amaya and dropped Equifax & Transunion.
• The largest three individual stock positions are Allergan plc, McKesson, and Amaya and they add up to ~57% of the portfolio.

Dinakar Singh’s 13F portfolio value decreased around 11% from $100M to $89M this quarter. The portfolio is very concentrated with recent 13F reports showing just a handful of positions. The top five positions are Allergan plc, McKesson Corp., Amaya Inc., Tyson Foods, & Aetna Inc. (AET) and they add up to ~77% of the 13F portfolio.

Below is a summary:

The Stars Group (TSG) previously Amaya Inc. (AYA): TSG is the second-largest stake at ~13% of the portfolio. The position was purchased over the four quarters thru Q1 2016 at prices between $10.50 and $28. Q4 2016 saw a ~26% reduction at prices between $13 and $17.50 and that was followed with a ~85% selling last quarter at around the same price-range. This quarter saw another ~30% selling at prices between $16.50 and $19.50. The stock is currently at $16.50.

Allergan plc (AGN): AGN is currently the largest individual stock position at ~30% of the entire 13F assets. The stake was established in Q3 2015 at prices between $279 and $331. Q2 2016 saw a ~38% increase at prices between $202 and $278 and that was followed with another ~20% increase the following quarter at prices between $231 and $260. Q4 2016 saw an about turn: ~85% reduction at prices between $189 and $243. The stock currently trades at $228. There was a ~17% trimming this quarter.

Below is a spreadsheet that shows the changes to Dinakar Singh's TPG-Axon US long portfolio holdings as of Q2 2017. For a look at how the portfolio has progressed, see our previous update:

To learn more about how to profit from a strategy of following the best hedge fund picks, check out our book Profiting from Hedge Funds: Winning Strategies for the Little Guy .