Owl Creek Asset Management is an employee-owned investment manager that provides its services mainly to pooled investment vehicles. The firm also offers services to individuals, investment companies, trusts, among other entities. Yahoo! Inc. (NASDAQ:YHOO), eBay Inc (NASDAQ:EBAY), and Iron Mountain Incorporated (NYSE:IRM) emerged top of Owl Creek Asset Management holdings according to the SEC 13F filings of the firm for the quarter ended September 30, 2014.
The largest investment of Owl Creek Asset Management was Yahoo! Inc. (NASDAQ:YHOO) for the quarter, having investment valued at $212.02 million in value. Yahoo! Inc. (NASDAQ:YHOO) is an internet corporation that offers communications platforms, content, community platform, and advertising solutions. D E Shaw had the highest number of shares of the company with 19.6 million. Jat Capital Management came a distant second with 8.9 million shares. (You can see complete list of hedge funds which hold positions on Yahoo! Inc. (NASDAQ:YHOO) at the end of third quarter.)
The e-commerce company EBay Inc (NASDAQ:EBAY) came second after Yahoo! with investment valued at $181.23 million. EBay Inc (NASDAQ:EBAY) is an online trading platform that allows users to buy and sell products. Through its subsidiary PayPal, eBay makes it possible for users to make safe online payments for goods and services. Evercore ISI recently downgraded EBay Inc (NASDAQ:EBAY) to “sell” from “neutral” and reduced its price target from the initial $52 to $49.
Iron Mountain Incorporated (NYSE:IRM) was the third biggest investment of Owl Creek Asset Management, registering investment valued at $137.26 million. Iron Mountain Incorporated (NYSE:IRM) is a company that provides information management solutions to enterprises. This includes systematic storage of data, creation of backups, secure data shredding and deletion, among other related services. The company recently declared a special dividend of $0.255 a share; a dividend set to be paid out on November 28, 2014. Iron Mountain Incorporated (NYSE:IRM) was also recently upgraded by Zacks to “outperform” from “neutral” plus a price target of $42.
This article has been written by Victor Ochieng.