Qualcomm, Inc. (QCOM), eBay Inc (EBAY) And Oracle Corporation (ORCL): Courage Capital Management’s Top 3 Prominent Tech Picks
Courage Capital Management was fairly active in 1Q2015, bringing a number of changes to its portfolio mix during the quarter. At the end of the day, the value of the fund’s equity portfolio rose to more than $104 million from $88.9 million at the end of 4Q2014.
Some of the tweaks that Courage made in its portfolio included starting new positions in 13 stocks and selling out of six other stocks. Additionally, the fund added holding in five stocks and reduced stakes in 10 other stocks during the quarter.
Courage is very active in Technology industry, which account for 35% of its total portfolio. The fund has exposure to several other sectors namely Finance, Consumer Discretionary, Materials and Industrials.
Here is a brief look at Courage’s top-three largest Technology stocks by dollar value at the end of 1Q.
Courage Capital Management started a position of 240,000 shares in Qualcomm, Inc. (NASDAQ:QCOM) in 1Q. The stake was worth more than $16.6 million at the end of the quarter.
The fund initiated a position of 53,000 shares in eBay Inc (NASDAQ:EBAY) in 1Q. The position was valued above $3 million at the end of the quarter.
Courage made a significant positive move in eBay at a time when the company is set to split its online payment business PayPal into a standalone public company. A plan has been worked out to ensure that both eBay and PayPal operate smoothly after the separation. The plan especially ensures sustainable revenue for PayPal for a period of five years.
Courage Capital Management boosted its holding in Oracle Corporation (NYSE:ORCL) in 1Q to 59,000 shares. The fund previously owned 10,000 shares in Oracle at the end of 4Q, a stake that was valued at $450,000. The new stake is valued at more than $2.5 million.
Courage Capital Management took the opportunity in 1Q2015 to also clean up its portfolio, deleting stocks like Liberty Interactive Corp (NASDAQ:QVCA), Pan American Silver Corp. (USA) (NASDAQ:PAAS) and Dreamworks Animation Skg Inc (NASDAQ:DWA) from its holding.
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