Highbridge Buys Liberty Media & Virgin Media, Sells CVS and MetLife

Highbridge Capital Management hedge fund, had over $8 billion in holdings in Q1 2012 , the fund now holds $7 billion, as indicated in the 13F submitted to Securities and Exchange Commission, for the quarter ending on 30th June.  Total AUM is closer to $30 billion. The top 10 holdings make up 20 percent of the portfolio. The highlights of Q2 2012 are:

Top Positions

Highbridge’s top 5 assets are in, Cosan Limited (NYSE:CZZ), which makes up 5.53 percent of total investments , Dish Network Corporation (NASDAQ:DISH) holds 2.82 percent, Hertz Global Holdings, Inc. (NYSE:HTZ) equals 2.63 percent, Express Scripts Holding Co (NASDAQ:ESRX) holds 2.25 percent and  Superior Energy Services, Inc. (NYSE:SPN) makes up 1.37 percent of the portfolio.

New Positions

Highbridge bought 515 new stocks during the Apr-June quarter. The major new investments in the portfolio were made in United Rentals, Inc. (NYSE:URI), which takes up 1.28 percent of the portfolio, Sherwin-Williams Company (NYSE:SHW) comes in with 0.75 percent, Onyx Pharmaceuticals Inc (NASDAQ:ONXX) holds 0.68 percent, Liberty media Group (LMC.B) 0.53 percent,  and Virgin Media Inc. (NASDAQ:VMED) o.49 percent.

Additions

The fund expanded its standing investments in 261 of its stocks. The major additions in the top 5 were made in Dish Network Corporation (NASDAQ:DISH), where shares were increased by 28 percent and Express Scripts Inc. (NASDAQ:ESRX) increased by 60 percent.

Other additions were in
Wells Fargo & Company (NYSE:WFC), Monsanto Co. DL-,01 (FRA:MOO) and Comerica Incorporated (NYSE:CMA).

Reductions

Highbridge sold off its entire stake in 410 of its stocks. Significant liquidations were, PowerShares QQQ (NASDAQ:QQQ), CVS Caremark Corporation (NYSE:CVS), American Express (NYSE:AXP), Molina Healthcare Inc. (NYSE:MOH), and JDS Uniphase Corporation (NASDAQ:JDSU).

Shares in 308 stocks were reduced in the quarter ending on June 30th.The fund reduced holdings in Metlife Inc (NYSE:MET) and LSI Corporation (NYSE:LSI), both by 31 percent each, and SEI Investments Company (NASDAQ:SEIC) by 16 percent. These are among the top 3o of Highbridge’s holdings in Q2.

Highbridge’s portfolio, by sector, is almost equally divided in all fields.

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About the Author

Tabinda Hussain
Tabi covers hedge funds for ValueWalk. Although Tabi is an expert in hedge funds, her academic background is in Biology. Follow her on twitter @tabihussain

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