- Dinakar Singh’s 13F portfolio value increased from $89M to $120M this quarter.
- TPG-Axon reduced Equifax, Shire plc, Advanced Auto, and Ionis Pharma during the quarter.
- The largest three individual stock positions are Allergan plc, The Stars Group, and Equifax and they add up to ~50% of the portfolio.
Dinakar Singh’s 13F portfolio value increased around one-third
from $89M to $120M this quarter. The portfolio is very concentrated with recent
13F reports showing just a handful of positions. The top five positions are
Allergan plc, The Stars Group, Equifax, Shire plc, and McKesson Corp and they
add up to ~73% of the 13F portfolio.
Below is a summary:
The Stars Group (TSG)
previously Amaya Inc. (AYA): TSG
is the second-largest stake at ~12% 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 the following quarter at around the same
price-range. Last quarter saw another ~30% selling at prices between $16.50 and
$19.50. There was a ~9% increase this quarter. The stock is currently at $26.
Allergan plc (AGN):
AGN is currently the largest individual stock position at ~25% 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 $188. There was a ~17% trimming last
quarter while this quarter saw a one-third increase at prices between $202 and
$256.
Below is a spreadsheet that shows the changes to Dinakar
Singh's TPG-Axon US long portfolio holdings as of Q3 2017. For a look at how the
portfolio has progressed, see our previous update:
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