Driehaus Capital Management LLC Increased Time Warner Cable (NYSE:TWC) by $119.54 Million as Shares Were Volatile

Richard Driehaus increased its stake in Time Warner Cable (NYSE:TWC) by 136.6% based on its latest 2016Q1 regulatory filing with the SEC. Driehaus Capital Management Llc bought 586,000 shares as the company’s stock 0.00% . The hedge fund run by Richard Driehaus held 1.02M shares of the television services company at the end of 2016Q1, valued at $207.69 million, up from 429,000 at the end of the previous reported quarter. Driehaus Capital Management Llc who had been investing in Time Warner Cable for a number of months, seems to be bullish on the $ market cap company. The stock last traded at $0 per share. It is down 6.00% since July 19, 2016 and is uptrending. It has underperformed by 6.35% the S&P500.

Driehaus Capital Management Llc, which manages about $12.71B and $3.08 billion US Long portfolio, decreased its stake in Guidewire Software Inc (NYSE:GWRE) by 72,134 shares to 68,835 shares, valued at $3.75 million in 2016Q1, according to the filing. It also reduced its holding in General Motors Co (NYSE:GM) by 331,324 shares in the quarter, leaving it with 638,789 shares, and cut its stake in Epam Systems Inc (NYSE:EPAM).

Richard Driehaus was only thirteen years old when he began playing the stock market, using money earned as a paper boy to buy his first share. Driehaus is savvy, but lives by the simple motto, “Everyone wants to be rich, but few want to work for it”. He was just a child when asked by his teacher, what 3% of 10000 was. Rather than respond, Richard sat there until the teacher asked him why he didn’t know. Driehaus response is indicative of his sentiment towards wealth, “Sister, I’m just not interested in 3%”. Driehaus Capital Management Llc is a Illinois-based hedge fund that was founded by Richard Driehaus. It had more than $12.71 billion assets under management in January, 2015. This fund invests only a small percentage of its assets in equities and options. Taken from Driehaus Capital Management latest Adv, the fund reported to have 95 full and part-time employees. Among which 40 performing investment advisory and research functions. The hedge fund had between 26-100 clients.

The institutional sentiment increased to 0.93 in 2016 Q1. Its up 0.12, from 0.81 in 2015Q4. The ratio improved, as 50 funds sold all TWC shares owned while 241 reduced positions. 60 funds bought stakes while 211 increased positions. They now own 248.53 million shares or 5.46% more from 235.66 million shares in 2015Q4.

Twin Securities Inc. holds 18.42% of its portfolio in TWC for 721,152 shares. Napier Park Global Capital (Us) Lp owns 220,328 shares or 16.92% of their US portfolio. Moreover, Soroban Capital Partners Lp has 13.45% invested in the company for 8.13 million shares. The New York-based Meru Capital Group Lp has invested 12.71% in the stock. Halcyon Management Partners Lp, a New York-based fund reported 205,515 shares.

Read full story at http://www.consumereagle.com/driehaus-capital-management-llc-increased-time-warner-cable-nysetwc-by-119-54-million-as-shares-were-volatile-2/140893/


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