Tim Eriksen Deep Value Idea: Long AWILCO

Tim Eriksen Deep Value Idea: Long AWILCO

Tim Eriksen is the founder and president of Eriksen Capital Management. He has managed a private fund that focuses primarily on small and micro cap stocks since 2006.

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This Long/ Short Equity Firm Sees A Time-Arbitrage Opportunity In This Pest Control Merger

PestYost Partners was up 0.8% for the first quarter, while the Yost Focused Long Funds lost 5% net. The firm's benchmark, the MSCI World Index, declined by 5.2%. The funds' returns outperformed their benchmark due to their tilt toward value, high exposures to energy and financials and a bias toward quality. In his first-quarter letter Read More

Tim Eriksen spoke at the 9th Annual Value Investing Congress, also see Tim Eriksen: size matters, smaller is better. Below are notes from his presentation.

Highlights from Tim Eriksen’s presentation

Eriksen runs a concentrated fund focus on FCF.

He looks at spinoffs, forced sales, micro cap and unlisted stocks.


Drilling operator with 2 semi subs.

48.7% owned by awilhelmsen.

Trades in oslo AWDR. Pink sheets AWILCO (OTCMKTS:AWLCF) (FRA:0AI).

Rigs acquired in 2010 from Transocean LTD (NYSE:RIG) in a forced sale.

Initiated $1 per share quarter dividend in May 2013.

Price:  $21 EPS $4.40 DPS $4 yield 20%.

They have improved the life of rigs operations by 15 years in 2011. They will have SPS survey and BOP part change in 2016. Cost $80m. Will take a hit to utilization in those 1-2 quarters.

People avoid buying as they have only 2 rigs, older rigs, utilization and day rates may come off.

Tim Eriksen Road Less Traveled

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