February 2017 Performance
It’s nice to be in positive territory after a disastrous January. The largest contribution to the February performance was Wafergen Biosystems, which finally closed. Actelion and Ariad Pharmaceuticals were also positive contributors. I did sell my position in Kate Spade (Ticker: KATE) a bit too early, but overall I am pleased with how things turned out. I continued to add to my position in Actelion (Ticker: ALIOY). I also initiated a position in Syngenta (Ticker: SYT) and looking for that to close within the next few months.
Right now, my only merger arb plays are Actelion (~ 22% position) and
Syngenta (~ 6% position).
Here’s a snap shot of my current holdings with their weighting:
2017 Performance Year to Date = +5.22% with the running monthly returns
as follows:
January -4.50%
January -4.50%
February +10.18%
posted by Money Turtle @ 3:19 PM
25 comments
25 Comments:
Are you fully invested or u holding some cash?
thanks
STZ is very risky when the market will collapse.
why would the market collapse? It could. But maybe in 10 years or 6....nobody knows....
Hi MT,
I noticed that one of you previous holdings is no longer on your portfolio. Did you get rid of REGN? What was the reason for your change of mind on REGN?
Thanks
Mostly fully invested right now, but will change as merger arb plays close.
STZ: If market collapses so will every other stock out there. I have a long term view on STZ and looking out 3-4 years, this company will generate substantial free cash flow as their cap ex in new manufacturing plants wind down. I can see $1.5+ billion in free cash flow in 3-4 years. This company is a money machine...
REGN: Trying to remember... I believe I sold REGN to raise cash to put into a special situation play: EverBank.
Hi,
TIME to take a dip in TIME with bids reported over 20.
thanks
Same thinking too. I am going to dip in abit. However I am overloaded with Syngenta at the moment.
out from MGI finally I got a bit of luck!
I go long now in RAD 100% position at 4.95
I think a 10% profit in few days is in the air, I will sell at 5.45
averaged, 4.87 in with 100% let's see... it's half price of original offer.
any comments on $TIME pending auction...seemed to be taking abit longer with the new bidder..
Seems odd that air methods is trading at deal price... people expecting an overbid?
I have a small (~5% position) in $TIME and it looks like it's progressing as planned. Wouldn't be surprised to hear something Monday.
Air Methods - KKR was really interested, maybe considering an overbid?
Sold $TIME and bought $SFM
May i ask what's the reason behind selling $TIME?
MDP boosted their earnings late monday evening. Since they are considered the front runner to buy TIME and if they were close to buying TIME, they would have announced both together. Bronfman is out, and not sure how serious Najafi-Pamplona (heard first time about this firms) is, then MDP doesnt have to rush and can decide to bid less..
And now $TIME is back in business
I think the sales process is not over so MDP cannot make any announcement without breaching sec rules... the entry of najafi may have led to TIME adding more time for considerations
Now that ALIOY hit 70. Is there a point in holding it? T.Y.
ALIOY trading at 70.54. Anyone can explain move over 70?
ALIOY over $70 as market is pricing in the value of the spin co.
Are you holding till the deal expires?? Or better to cash out?
looks like it is almost complete for Actelion.
https://globenewswire.com/news-release/2017/03/31/947370/0/en/Johnson-Johnson-publishes-interim-result-for-Actelion-tender-offer-and-declares-the-tender-offer-successful.html
I am hanging on as there's really no risk of the deal breaking at this point.
February had a nice return.
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