Fr. Emmanuel Lemelson, Chief Investment Officer of Lemelson Capital Management, general partner of The Amvona Fund, LP, and Founder and President of The Lantern Foundation, appeared on Benzinga’s “Pre-Market Prep” show on November 18, offering updated commentary on several core holdings of The Amvona Fund and discussing the mission of The Lantern Foundation, a non-profit organization he founded in 2012.
Lemelson's full interview with Benzinga can be heard here
In the Benzinga interview, Lemelson reiterated his conviction on the fund’s holdings in shares of Apple (NASDAQ: AAPL), Geospace Technologies (NASDAQ: GEOS), Kulicke and Soffa Industries (NASDAQ: KLIC) and World Wrestling Entertainment (NYSE: WWE).
On Apple, Lemelson said the fund continues to maintain a “substantial large stake, roughly $20 million” investment in Apple. He believes Apple is performing well across its multiple business lines. “They are hitting the ball out of the park in every business they are in,” Lemelson contends.
Lemelson also addressed his optimism for Geospace Technologies, a United States-based company that designs and manufactures instruments and equipment used in global oil and gas extraction. The Amvona Fund first announced its long position in Geospace Technologies (comprising a two percent ownership of the company’s outstanding shares) four weeks ago, on October 20. Lemelson believes Geospace is a “great company with a very solid management team” that stands to benefit from being a part of a vast $23 trillion that will be spent for fossil fuel extraction, transport and oil refining through 2035. At its current price, Lemelson estimates Geospace is as much as “sixty or seventy percent undervalued.”
In his Benzinga interview, Lemelson also addressed The Amvona Fund’s long position in World Wrestling Entertainment, arguing that WWE’s intrinsic value would be far greater if the company’s management was in “the right hands.” Lemelson reiterated his prior call for WWE to overhaul its executive management team or pursue a sale of the company so this value can be unlocked. He said WWE benefits from having no real competitor in its segment, “has strong intangibles” and represents a “sound long-term investment.”
Lemelson also discussed his non-profit organization, The Lantern Foundation, founded in 2012 to provide financial support to religious and community service organizations, particularly those related to the Ecumenical Patriarchate of Constantinople.
To watch the interview click here.