Akanthos Capital, run by Michael Kao, is a hedge fund famous for its multi-strategy investment approach. In its latest 13F report, the fund disclosed more than $42 million in equity portfolio value. It had nearly $34 million in the previous filing. The latest filing also revealed the fund’s best three stock picks. That list is made up of Career Education Corp. (NASDAQ:CECO), SandRidge Energy Inc. (NYSE:SD) and Ocwen Financial Corp (NYSE:OCN).
Career Education Corp. (NASDAQ:CECO) is the largest position in the portfolio of Akanthos Capital. The fund held 700,000 shares in the $398 million for-profit company in the latest filing. It increased its position in Career Education Corp. (NASDAQ:CECO) during the third quarter of 2014 because it had 650,000 share there in the previous report. The new position is valued at $3.6 million.
Tcs Capital Management, run by Eric Semler, is another hedge fund with a bullish outlook on Career Education Corp. (NASDAQ:CECO). The fund increased its position in the stock by 51% in the second quarter of 2014 that it closed the quarter with about 2.3 million shares in the company.
Coming second in Akanthos Capital’s best three picks is SandRidge Energy Inc. (NYSE:SD). The fund owned 650,000 shares in the $1.9 billion energy company at the end of the third quarter of 2014. That signaled an increase from 550,000 shares at the end of the second quarter of 2014. The fund’s new position in the stock carried a value of nearly $2.8 million in the latest report.
There have been a lot of insider activities in the stock of SandRidge Energy Inc. (NYSE:SD) this year. The recent notable insider buyers in the stock include Director, R Everett Dobson, who acquired 13,900 shares in the company last month.
Ocwen Financial Corp (NYSE:OCN) closed Akanthos Capital’s top three equity choices at the end of the third quarter of 2014. The fund owned 100,000 shares with an estimated value of $2.6 million in the financial services company. It doubled its equity holding in the company during the third quarter of 2014 as it had 50,000 shares in the previous report.
No insiders have purchased shares in Ocwen Financial Corp (NYSE:OCN) this year but one insider seller has been recognized this year. The company’s Director, Jr L Wilbur Ross sold more than 1.95 million shares.
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