Bluecrest Quintuples its Stake at Hollywood Media Corporation (HOLL)


Michael Platt and William Reeves’ Bluecrest Capital Management has filed a 13G form with the SEC, declaring an increase in its position at Hollywood Media Corporation (OTCMKTS:HOLL). The fund now owns about 2.85 million shares, which account for 12.6% of the company’s Common Stock, up from 528,400 shares declared in its last 13F filing. Bluecrest’s position is valued at more than $3.5 million.


Hollywood Media Corporation (OTCMKTS:HOLL) is a $28 million market cap OTC Markets traded provider of online ticketing services. The company also derives revenues from advertising and book development license fees and royalties. Boasting great returns (ROE stands at 87.2%, and ROA at 81.4%), trading at only 2.2 times its earnings and 0.9 times its book-values and holding amazing growth prospects (analysts expect it to deliver average annual EPS growth rates around 50% over the next five years), this is certainly an attractive stock.

And not only Mr. Platt and Mr. Reeves think so. Other funds laying a wager on Hollywood Media Corporation (OTCMKTS:HOLL) are Clint Coghill’s Coghill Capital Management, with 2.05 million shares, and Wilmot B. Harkey and Daniel Mack’s Nantahala Capital Management, with 1.08 million shares. In addition, Jim Simons and Ken Griffin also hold long stakes in Hollywood Media Corporation (OTCMKTS:HOLL).

Bluecrest Capital Management is a London-based fund with an equity portfolio worth around $1.17 billion. Both its founders were managing directors and senior proprietary traders at JP Morgan before launching BlueCrest in the year 2000. It has gone a long way since inception, becoming one of the largest global alternative asset managers, with offices in London, Geneva, Guernsey, New York, Boston, Connecticut and Singapore, and having won the EuroHedge award for Management Firm of the Year in four separate occasions (2004, 2008, 2009 and 2010).

Bluecrest’s latest 13F filing reveals a relative focus on ETFs and technology stocks. Its most valuable holding is, in fact, an ETF, SPDR S&P 500 ETF Trust (NYSEARCA:SPY), of which the fund owns 500,000 million shares, worth about $94.9 million, followed by several ETF options and tech company bonds.

Disclosure: none