Richard Driehaus increased its stake in Time Warner Cable (NYSE:TWC) by 136.6% based on its latest 2016Q1 regulatory filing with the SEC. Driehaus Capital Management Llc bought 586,000 shares as the company’s stock rose 11.77% with the market. The hedge fund run by Richard Driehaus held 1.02 million shares of the television services company at the end of 2016Q1, valued at $207.69 million, up from 429,000 at the end of the previous reported quarter. Driehaus Capital Management Llc who had been investing in Time Warner Cable for a number of months, seems to be bullish on the $ market cap company. The stock last traded at $0 per share. It is down 12.26% since October 12, 2015 and is uptrending. It has outperformed by 9.37% the S&P500.
Driehaus Capital Management Llc, which manages about $12.71 billion and $3.08 billion US Long portfolio, decreased its stake in Controladora Vuela Cia De Av (NYSE:VLRS) by 468,797 shares to 325,310 shares, valued at $6.85M in 2016Q1, according to the filing. It also reduced its holding in Smith & Wesson Holding Corp (NASDAQ:SWHC) by 250,155 shares in the quarter, leaving it with 110,490 shares, and cut its stake in Hertz Global Holdings Inc (NYSE:HTZ).
Richard Driehaus was only thirteen years old when he began playing the stock market, using money earned as a paper boy to buy his first share. Driehaus is savvy, but lives by the simple motto, “Everyone wants to be rich, but few want to work for it”. He was just a child when asked by his teacher, what 3% of 10000 was. Rather than respond, Richard sat there until the teacher asked him why he didn’t know. Driehaus response is indicative of his sentiment towards wealth, “Sister, I’m just not interested in 3%”. Driehaus Capital Management Llc is a Illinois-based hedge fund that was founded by Richard Driehaus. It had more than $12.71 billion assets under management in January, 2015. This fund invests only a small percentage of its assets in equities and options. Taken from Driehaus Capital Management latest Adv, the fund reported to have 95 full and part-time employees. Among which 40 performing investment advisory and research functions. The hedge fund had between 26-100 clients.
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