Marlborough, Mass., September 5, 2014—Lemelson Capital Management, a private investment management firm, today marked the second anniversary of the launch of its flagship fund, The Amvona Fund, LP which has ranked repeatedly among the world’s top performing hedge funds. The firm also today released the overall and net gains for the fund since inception, which were, respectively, 257.74 percent and 160.21 percent. The fund’s performance since inception has outperformed the benchmark S&P 500 Total Returns Index by 209.07 percent (111.54 percent net of all fees and expenses).
Kulicke and Soffa accepts Lemelson Capital’s April 23rd, 2014 recommendation
Marlborough, Mass., August 27, 2014—Lemelson Capital Management, a private investment management firm, today commended the Board of Directors and management team of Kulicke and Soffa Industries, Inc. (NASDAQ: KLIC) for their favorable response to Lemelson Capital’s April 23, 2014 letter to CEO Bruno Guilmart urging the company to initiate a share repurchase program. In an announcement this morning, Kulicke and Soffa said its Board of Directors has authorized a repurchase of up to $100 million of the company’s common shares, effective immediately.
Ligand’s largest Shareholder BVF, Inc. sells 484,524 shares
A PDF version of the report is available here
Raising prospects for a continued deterioration in the stock price of Ligand Pharmaceuticals (NASDAQ: LGND), the largest shareholder in the company has moved to unload shares of the troubled company in a private transaction. Earlier this week, on August 19, BVF, Inc., the company’s largest shareholder, offloaded 484,524 shares in a private transaction, the terms of which are both costly and indicative of institutional sentiment.
Lemelson Capital short stake built as share price collapses on insolvency and bankruptcy risk
Rev. Father Emmanuel Lemelson, Founder and President of the Lantern Foundation and Chief Investment Officer of Lemelson Capital Management, appeared yesterday on Benzinga’s Pre-Market Prep show in which he addressed recent geopolitical and global market developments and the firm’s existing long and short investment positions, including Lemelson Capital’s short position in Ligand Pharmaceuticals (NASDAQ: LGND), which the firm first announced on June 16, 2014. Lemelson Capital has continued to sell the stock short even as its share price has collapsed over the last six weeks.
Lemelson Capital further increases short stake and reaffirms 100 percent downside risk in Ligand Pharmaceuticals (NASDAQ: LGND), revenue and earnings down across the board, while liabilities and dilution continue to rise dramatically.
A PDF version of the report is available here
Lemelson Capital further increases short stake and reaffirms 100% downside risk in Ligand Pharmaceuticals (NASDAQ: LGND), ancillary applications for Promacta® and Kyprolis® not commercially viable, Duavee® sales remain immaterial
A PDF version of the report is available here.
On June 19th, Rev. Father Emmanuel Lemelson, Founder and President of the Lantern Foundation, was invited onto Benzinga's Pre-Market Prep show to discuss the theme of capital allocation as stewardship.
In the interview, Fr. Emmanuel, after some initial comments on his background and investment philosophy is asked in depth and pointed questions about his recent short call on shares of WWE that was first published on March 17th as well as his recent 25 page research report on shares of LGND. He clarifies his reasoning behind statements that shares of LGND have no intrinsic value presently.
Shares of LGND dropped as much as 2% during the interview.
Please read the full disclosures at the end of the report by clicking on the link below.
Disclosure: Lemelson Capital is short shares of (NASDAQ:LGND).
A PDF version of Lemelson Capital's full 25-page report is available here.
LCM also released its May 2014 results with a 22.26% (16.29% net) YTD showing against 4.97% for the benchmark S & P 500 Total return index, which includes dividends.
Activist Positions in World Wrestling Entertainment (WWE) and Kulicke and Soffa Industries (KLIC) Fuel Gains
Marlborough, MA, May 27, 2014—Lemelson Capital Management, LLC, a private investment management firm, today announced that The Amvona Fund, LP has again been ranked by Barron's as one of the world's top performing hedge funds for April 2014. It represents the third time in eight months that Barron's monthly performance rankings of global hedge funds has included The Amvona Fund among the world's top performers. This designation follows the magazine previously ranking the fund as the top performing hedge fund for July and October 2013.
Ongoing Losses, Operating Failures, Material Misstatements Warrant and Require Urgent Executive Management Changes or a Sale of the Company
On March 17th, 2014 Lemelson Capital published “The Short Case for World Wrestling Entertainment”. At the time the shares were trading at 30.37.
The report stated that fair value for the shares was between $8.25 and $11.88 per share.
As of today, less than 60 days later, the shares are trading at $11.33 (and as low as $10.50) per share – a decline of some 63-65%.
On April 22nd, 2014 Lemelson Capital was featured in USA Today for a second time in less than two weeks - crediting the firm with the 10% surge (~100 M in market cap) in share price of Kulicke and Soffa industries (NASDAQ: KLIC) and reiterating the firms March 17th, 2014 short call that resulted in a ~ 800 Million drop in market cap. of World Wrestling Entertainment (NYSE: WWE).
Southborough, MA, April 22, 2014—Lemelson Capital, LLC, a private investment management firm, today announced that it has taken a significant equity position in Kulicke & Soffa Industries (NASDAQ:KLIC), a global leader in the design and manufacture of semiconductor and LED assembly equipment.
Lemelson Capital’s acquisition reflects the firm’s view that shares of the company remain dramatically undervalued.
Lemelson Capital also announced today that it is urging K&S to initiate a share repurchase plan and has delivered the following letter to the company’s management team, board of directors and other stakeholders.