Time Warner Cable Inc (NYSE:TWC), DIRECTV (NASDAQ:DTV), Omnicare, Inc. (NYSE:OCR) are the top stock holdings of Arrowgrass Capital Partners, as per its recent SEC 13F stock holdings. The investment manager has a current investment portfolio of $4.11 billion with its primary investments in service, technology and healthcare industry.
Time Warner Cable Inc (NYSE:TWC) is the largest stock holding of Arrowgrass Capital Partners, which owns 2,144,076 shares of the company at an estimated market value of $307 million. The cable company lost up to 38,000 residential video subscribers in its fourth quarter 2014 alone and an annual drop of 300,000 with a total customer base of 10.8 million subscribers. A merger between Comcast Corporation (NASDAQ:CMCSA) and Time Warner Cable Inc (NYSE:TWC) is likely to happen in this fiscal year only.
DIRECTV (NASDAQ:DTV) comes at number two in the portfolio of Arrowgrass Capital Partners with 3,417,508 shares of the company at an estimated market value of $295 million. As its primary rival DISH Network Corp (NASDAQ:DISH) initiated Sling TV package for $20 a month, DIRECTV (NASDAQ:DTV) responded with a $19.99 programming package to lure more customers. DISH launched Sling TV with the intention to cut off customers from pay TV packages sighting high monthly cost. DIRECTV (NASDAQ:DTV), in return, is offering 130 channels to its new customers with an exciting billing package of $19.99 for the first 12 months.
Omnicare, Inc. (NYSE:OCR) is the third largest stock holding of Arrowgrass Capital Partners, which owns 1,332,275 shares of the pharmacy company at an estimated market value of $101 million. Omnicare, Inc. (NYSE:OCR) announced net sales of $1.6 billion in its third quarter 2014 with a gross profit of $351 million. Some of the primary investors of Omnicare, Inc. (NYSE:OCR) include Iridian Asset Management, Brahman Capital, and Arrowgrass Capital partners. The shares of Omnicare, Inc. are trading at $74.98 with current P/E ratio of 33.67 and market cap of $7.34 billion.
This article has been written by Prakash Pandey.