BlackBerry has received a vote of confidence from California-based investment firm Primecap Management Company, which has boosted its stake in the company by about 60 per cent.
PrimecapÃ‚Â was founded in September 1983 in Pasadena, CA, as an independent investment management company. The firm’s goal is to provide superior long-term equity investment results by following an investment approach based on four key principles:
Commitment to fundamental research
Long-term investment horizon
Emphasis on individual decision-making
Focus on value
The second-largest stakeholder in BlackBerry now holds 54.9 million shares, or about 10.4 per cent of the company’s outstanding equity, according to figures filed with the Securities and Exchange Commission.
That’s an increase from a 6.5-per cent stake as of December 31, 2013.[signoff predefined=”Enjoy this?” icon=”icon-users”][/signoff]