Melqart Asset Management’s Latest Gaming and Tech Stock Moves

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Melqart Asset Management’s Latest Gaming and Tech Stock Moves
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Michel Massoud ’s Melqart Asset Management is an event-driven hedge fund that was founded by Massoud in 2015. Melqart employs a fundamental bottom-up approach to portfolio construction and utilizes three main sub-strategies, which are merger arbitrage, sub-investment grade credit, and special situations equity. By 2017 the fund’s assets had […]

Click here to view original web page at news.yahoo.com


Michel Massoud’s Melqart Asset Management is an event-driven hedge fund that was founded by Massoud in 2015. Melqart employs a fundamental bottom-up approach to portfolio construction and utilizes three main sub-strategies, which are merger arbitrage, sub-investment grade credit, and special situations equity.

By 2017 the fund’s assets had already risen to over $600 million, prompting it to place a hold on accepting new clients. Nonetheless, Melqart’s AUM surpassed $1 billion by 2018 after the fund returned a stellar 24.59% in 2017 and by 2020 it was again seeking to raise money to capitalize on widening deal spreads. Through the third quarter of 2018, Melqart’s compound annual return stood at 14.84%.

Below we’ll take a glimpse into Melqart’s long portfolio and see how it traded some leading gaming and tech stocks in Q2.

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New Positions Added by Melqart Asset Management in Q2

- Shares Bought During Q2: 1.09 million - Value of Holding (as of June 30): 73.30 million

- Q3 Return: 0.31%

Acacia Communications is still going through the lengthy regulatory approval process when it comes to its pending acquisition by Cisco Systems, Inc. (NASDAQ:CSCO). The deal has received approval in Germany, the U.S and Australia. Chinese approval is reportedly moving closer as well, with some conditions potentially being imposed that would relate to the availability of Acacia’s products in the country.

Melqart was one of numerous hedge funds to open positions in Acacia Communications, Inc. (NASDAQ:ACIA) during Q2, as there was a 55% jump in ownership of the stock among the hedge funds tracked by Insider Monkey. Dmitry Balyasny’s Balyasny Asset Management and Louis Bacon’s Moore Global Investments were among the other funds to open new ACIA positions.

Melqart Asset Management Bought Shares in Q2

- Shares Bought During Q2: 8,100 (+3% quarter-over-quarter) - Value of Holding (as of June 30): $29.43 million

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