Marc Lasry is perhaps one of the most conservative investors I have come around. His hedge fund of nearly $300 million (IN STATED ASSETS), as per the latest SEC 13F filing, has close to 50% invested in one stock. To be precise, Marc Lasry has invested 48.12% of his fund in Magnachip Semiconductor Corp (NYSE:MX), a company operating in the technology sector, albeit, with a specialization in Semiconductor design manufacture and wholesale of the same.
The New York based fund purchased one new stock during the second quarter of 2012, and similarly, added to one of the existing stocks in its portfolio. The only acquisition for this matter was IFM investments Ltd, which represented 0.85% change in the company’s Assets Under Management (AUM). Nonetheless, this was merely, a single drop in a whole bucket, it was way too far from the company’s top five counters, which are led by Magnachip Semiconductor, at 48.12%.
Lasry has also bought a warrant in General Motors Company (NYSE:GM), which is set to expire in July 10th 2016, and this acquisition represents 8.5% of its portfolio. In third position is, General Mortors Company, Common stock, which is valued at 7.91% of Lasry Marc’s AUM.
Other top Stakes include CIT Group Inc. (NYSE:CIT), whose value is equivalent to 7.17% of Lasry’s fund, and another General Motors Company Warrant, which expires on July 10th, 2019, representing 6.52 of the company’s portfolio.
A closer look to this composition suggests that, approximately 22.93% of the company’s funds are invested in General Motors Company Ltd, either in the form of Warrants or Common stock. This translates to more than 70% of its funds invested in two counters. The rest are spread out through the various sectors including Technology, Services, Consumer goods, and Financials, among others.
During the Second quarter, the following exits were made: The company sold out all its stake in the Tenet Healthcare Corporation (NYSE:THC), representing 4.52% of its initial portfolio. Additionally, the company offloaded the shares of Spectrum Brands Holdings, Inc. (NYSE:SPB), representing a 2.77% change in its overall portfolio.
Other counters that experienced clear out sales include Navistar International Corp (NYSE:NAV), which initially represented 1.59% of Lasry’s AUM, and Compania De Telecommunications De Chile, whose realizable value after sale represented 0.95% change in the portfolio.