About Eminence Capital
Ricky Sandler founded Eminence Capital in 1998. Eminence Capital employs a “bottom-up, research-driven investment strategy that uses a combination of industry research, rigorous financial analysis, and dialogue with company management to execute its investment process.”
The fund’s portfolio for the fourth quarter of 2014 increased slightly to $6.884 billion from $6.830 billion in 3Q14. The fourth quarter ended on December 31, 2014.
Key positions traded by Eminence Capital in 4Q14
In this series, we’ll discuss the notable positions that Eminence Capital traded during the fourth quarter of 2014.
In 4Q14, Eminence Capital started new positions in Pandora Media (P), Darling Ingredients (DAR), Avis Budget Group (CAR), and B/E Aerospace (BEAV). The fund sold its positions in Lennar Corporation (LEN), Allergan (AGN), and Fiserv (FISV). Eminence Capital raised its stakes in Hertz Global Holdings (HTZ), PVH Corporation (PVH), and Zynga (ZNGA). The fund lowered its positions in Autodesk (ADSK), eBay (EBAY), Humana (HUM), and Valeant Pharmaceuticals International (VRX).
The chart above shows the top ten positions held by Eminence Capital at the end of 4Q14. You can learn about the fund’s 3Q14 positions by reading the Market Realist series Assessing Eminence Capital’s key positions in 3Q14.
In the next part of this series, we’ll discuss Eminence Capital’s position change in Pandora Media.