Tracking Dinakar Singh’s Axon Capital Portfolio – Q3 2018 Update


  • Dinakar Singh’s 13F portfolio value decreased from $78M to $66M this quarter. 
  • Axon Capital dropped Tyson Foods (TSN) and decreased Centene Group (CNC) & Allergan plc (AGN) during the quarter. The Stars Group (TSG) was increased significantly as well. 
  • The largest three individual stock positions are The Stars Group (TSG), Playa Hotels (PLYA), and Centene, Corporation (CNC), and they add up to ~40% of the portfolio.


Dinakar Singh’s 13F portfolio value decreased ~16% from $78M to $66M 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 (TSG), Playa Hotels (PLYA), Centene Corp (CNC), Alphabet Inc. (GOOG), and McKesson Corporation (MCK). They add up to ~62% of the 13F portfolio.

Below is a summary:

Allergan plc (AGN): AGN is a large stake at ~9% 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 $154. There was a ~17% trimming in Q2 2017 while the following quarter saw a one-third increase at prices between $202 and $256. There was a ~40% selling in Q4 2017 at prices between $164 and $211 while next quarter saw a ~21% increase. Last quarter saw a ~37% reduction at prices between $151 and $191 and that was followed with a ~50% selling this quarter at prices between $167 and $193.

Below is a spreadsheet that shows the changes to Dinakar Singh's Axon Capital 13F portfolio holdings as of Q3 2018. For a look at how the portfolio has progressed, see our previous update:





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