Okumus Fund Management is a staunch value investor, focusing on opportunities in the mid and large-cap equity space. The company currently manages an estimated $500 million with 90% and 15% long and short portfolio respectively. The third quarter SEC 13F filings of Okumus Fund Management for the period ended September 30, 2014, showed that Web.com Group Inc (NASDAQ:WWWW), Lifelock Inc (NYSE:LOCK), and Herbalife Ltd. (NYSE:HLF) were the firm’s top three largest holdings.
Web.com Group Inc (NASDAQ:WWWW) was the leading investment of Okumus Fund Management with a total investment value of $143 million in value. This is a company that provides web related services to small and medium-sized businesses. The company boasts of over 3 million customers located across the globe. Its top holder is Citadel Investment Group with a total of 13.5 million shares. The second largest holding firm is Empyrean Capital Partners with a total of 10 million in shares. (You can see complete list of hedge funds which hold positions on Web.com Group Inc (NASDAQ:WWWW) at the end of third quarter.)
The filings indicated that the firm’s second biggest investment was Lifelock Inc (NYSE:LOCK) with a total value of $118 million for the third quarter. Lifelock Inc (NYSE:LOCK) is an identity theft protection company, which is the provider of LifeLock identity theft protection system. The company reported record quarterly revenue of $123 million, which represents 29% increase above the revenue for the same period last year. The topmost shareholders of Lifelock Inc (NYSE:LOCK) are Bessemer Venture Partners, Wolf Fund Management Ltd., and KPCB XII ASSOCIATES, LLC.
Herbalife Ltd. (NYSE:HLF) emerged the third largest investment of Okumus Fund Management, having a total investment value of $85.6 million. Herbalife Ltd. (NYSE:HLF) is an American multi-level marketing company that sells nutrition, skin-care, and weight management products. A few of the company’s subsidiaries are Herbalife International of America Inc, WH Capital Corporation, among others. The top three institutional shareholders of Herbalife Ltd. (NYSE:HLF) are Icahn Associates Corp, Capital Research Global Investors, and Fidelity Management and Research Company.
This article has been written by Victor Ochieng.
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