Longfellow Investment Management’s New Equity Picks: Salix Pharmaceuticals, Ltd. (SLXP), City National Corporation (CYN-C) And Freescale Semiconductor Ltd (FSL)


Longfellow Investment Management Co LLC has a majority of its stockholding in finance representing 23% of its total equity portfolio followed by information technology at 16%. The fund had equity portfolio of just about $301 million at the end of 1Q2015, representing material decrease from more than $399 million at the end of 4Q. While Longfellow cut stake in several stocks and lowered its equity portfolio overall during 1Q, the fund still added some fresh names to its portfolio during the quarter.

Here are Longfellow’s top three fresh acquisitions during 1Q.

Longfellow approves Salix

Longfellow Investment Management moved to add Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) to its portfolio in 1Q. The fund bought 80,000 shares in the drug company, finishing 1Q with $13.8 million in the stock.

Salix Pharmaceuticals, Ltd. (NASDAQ:SLXP) has since been acquired by Valeant Pharmaceuticals Intl Inc (NYSE:VRX). Endo International PLC (NASDAQ:ENDP) and Valeant contested for Salix, but the latter carried the day after sweetening its acquisition offer.

Longfellow gives a nod to City National

Longfellow made a positive move in City National Corporation (NYSE:CYN-C), adding the stock to its portfolio even as it moved to jettison some stock in 1Q. The fund purchased 151,500 shares in City National, whose value was $13.5 million at the close of 1Q.

Longfellow in show of confidence in Freescale Semiconductor

Freescale Semiconductor Ltd (NYSE:FSL) is one of the stocks in which Longfellow Investment Management made a fresh move during 1Q. The fund acquired 312,000 shares in the company, which were worth $12.7 million as of the end of 4Q.

Discarded positions

As Longfellow Investment Management showed confidence in various stocks, bringing them to its equity portfolio in 1Q, the fund dropped TriQuint Semiconductor, Inc. (NASDAQ:TQNT) and American Realty Capital Healthcar Tr Inc (NASDAQ:HCT). Longfellow sold its stakes in the two companies completely during 1Q2015. Longfellow closed position in TriQuint after the company merged into RF Micro Devices, Inc. (NASDAQ:RFMD).

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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