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Freshford Capital Management’s Return, AUM, and Holdings (Part II)

Nina Zdinjak

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Freshford Capital Management held the most valuable position at the end of 2018 in Shutterfly Inc. (NASDAQ:SFLY), after raising its investment by 62%, the fund held in total 1.37 million shares with a value of $55.04 million. Shutterfly is an internet retailer and manufacturing company specialized in personalized products and communications. It has a market cap of $1.56 billion. Year-to-date, its stock is up 9.00%, having a closing price on May 15th of $45.04.

The second largest holding was in Air Products & Chemicals Inc (NYSE:APD), a corporation dedicated to selling gases and chemicals for industrial use. The fund held 301,822 of the stock's shares, which were valued at $48.31 million. Over the last six months, Air Products & Chemicals' stock gained 25.12%, and on May 15th it had a closing price of $205.02. Its market cap is of $45.84 billion, and the company is trading at a P/E ratio of 27.14.

Among five new positions was Travelport Worldwide LTD. (NYSE:TVPT), a travel commerce platform that operates in the United States, and internationally, with a market cap of $1.92 million. During the last quarter of 2018, Freshford Capital Management purchased 1.6 million Travelport's shares worth a value of $24.92 million. Over the last 12 months, the company's share lost 11.71%, closing on May 15th with a price of $15.30. The stock is trading at a price-to-earnings ratio of 57.70.

The next important acquisition was Groupon Inc.(NASDAQ:GRPN), the online platform that sells coupons for goods and services at discounted prices, whose 6.37 million shares valued at $20.38 million the fund obtained at the end of 2018. Groupon has a market cap of $2 billion. Year-to-date, the company's stock gained 6.44% closing on May 15th with a price of $3.47 per share.

Freshford Capital Management showed a boost of enthusiasm in some of its holdings during the Q4 2018. For example, its stake in Perspecta Inc. (NYSE:PRSP), an IT services provider, was increased by 104% to 2.62 million shares worth $45.19 million. Moreover, a rise of 24% was given to its holdings in Liberty Broadband Corp. (NASDAQ:LBRDA) acquiring in that manner a position in the company that counted 278,646 shares worth around $20.01 million. The fund also boosted its investment in Comcast Corp. (NASDAQ:CMCSA) by 9% to 937,618 shares valued at $31.93 million. Comcast Corp., a Philadelphia-based telecommunications conglomerate was one of the 30 most popular stocks among hedge funds this Q4 of 2018. It has a market cap of $194.46 billion while trading at a price-to-earnings ratio of 16.24. Since the beginning of the year, its stock gained 23.63, closing with a price of $42.49 per share on May 15th.

Disclosure: None.

This article was originally published at Insider Monkey.