In light of recent market movements and to rebalance the Catalyst Model Portfolio, we have increased on several high conviction names and reduced the weighting of the largest holding in a partial booking of profits. Please see inside the alert for the list of actions taken at the end of today's (June 29) VWAPs.
29 June 2020
In order to most effectively communicate our highest conviction ideas to clients and maximize overall performance, we have combined the positions of the Spinoff and Special Situations Model Portfolios, creating the newly unified Catalyst Portfolio. We are also exiting a series of names, details on the full article.
04 June 2020
Following a strategic review of its business operations, the board at mineral sand producer Iluka Resources Ltd (ILU AU) has determined that the best way to create value for shareholders is through the separation of its Royalty Iron Ore segment. This will leave the Parent post-Spin with its core mineral sands project pipeline in Australia, Sierra Leone and the United States, as well as a 15% retained stake in the RoyaltyCo (to continue to benefit from its cash generation).
26 February 2020
Once touted in 2017 by activist investor, Third Point, that DowDuPont should be split into six different companies to create a ‘clear focus and compelling investment case’ for shareholders, DuPont (DD) has not slowed down since its Spinoff of DOW and CTVA last year. Now, with the Reverse Morris Trust of its Nutrition & Biosciences segment as well as a strategic review of its Electronics and Imaging business, a six-way split when it’s all said and done may not be out of the realm of possibility.
21 January 2020
Value investing is dead and The Edge Group is predicting the Catalyst Space as the new trend for 2020. The Edge Group LLC, the global leader in Catalyst, Special Situations and Spinoff research, has acquired substantially all of the assets of WhiteSand Research LLC, offering money managers even greater access to unique market intelligence in the niche Catalyst, Special Situations and Spinoff space.
14 January 2020
This exclusive conference hosted the best of the investing world on Thursday, November 21, with The Edge bringing several premier money managers to present their current ideas in the Special Situations space and updated US performance data from The Edge’s own research team. $5,000 was raised through the event and given to The Alzheimer’s Association, all from attendees’ discretionary donations. In total, The Edge's three conferences have raised nearly $16,000 for the Alzheimer's Association.
03 January 2020
The Edge is holding its third annual conference at The Penn Club in NYC on Thursday, November 21, 2019. This non-profit conference has limited space and is always full. The conference is free to attend with a donation, 100% of which goes to The Alzheimer's Association. So far we have raised nearly $11,000 from previous conferences. The Edge will bring together experienced investment professionals, each bringing their views on how to make the most of this undercovered area.
30 October 2019
He’s hated by the majority of New York sports fans and for good reason, but James Dolan knows exactly what he has in store for loyal followers of the Knicks and the Rangers. Most die-hards will do anything for their favorite teams, and that is exactly what Trump-supporting impresario Dolan is banking on with his plans to offer fans the chance to own them. Read more on The Edge's thoughts on the upcoming MSG break-up...
19 September 2019
Originally a Spinoff from Centex Corp. back in January 2004, Eagle Materials, Inc. (EXP) is now looking to perform its own break-up after 15 years of slowly diversifying its building materials operations. Since its own listing, EXP has provided shareholders with a sizable return over the S&P MidCap 400 Index (+434% vs. +316%), and the management expects splitting the Heavy and Light Materials businesses will lead to similar growth in their respective spaces.
19 August 2019
After a strong, maiden 2QFY19 earnings post-Spin beating estimates, Corteva’s (CTVA) stock jumped to all-time highs to +12% up before settling at the end of the day at +6%. Having given a +20% return since being Spun off two months ago and outperforming the index, we believe that shorter-term, this is an opportunity to books profits here. However, with the longer-term catalysts remaining, we at the Edge will continue to hold CTVA at these levels.
02 August 2019