Leucadia Buys JEF, INTL, COWN, and MLI Reduces Stake in GLPW

Leucadia Buys JEF, INTL, COWN, and MLI Reduces Stake in GLPW
Leucadia National Corp. (NYSE:LUK), a publicly traded investment firm managed by expert investors Ian Cumming and Joseph Steinberg. The company’s portfolio is worth $1,234,048,000 during the second quarter of the fiscal year ending in June 30. The company invested in four stocks in the financials and industrials sector.

The company’s total investment in the financials sectors accounted for 64.03 percent including Jefferies Group, Inc. (NYSE:JEF) 61.06 percent; INTL Fcstone Inc (NASDAQ:INTL) 2.54 percent and Cowen Group, Inc. (NASDAQ:COWN) 0.43 percent.  Its investment in the financial sector is 35.97 percent for Mueller Industries, Inc. (NYSE:MLI).

Leucadia National Corp. (NYSE:LUK) holds 58, 006,024 shares of Jefferies Group at $12.99 per share; 10,422,859 shares of Mueller Industries at $42.59 per share and 1,618,044 shares of INTL FCStone at $19.35 per share. During the second quarter of 2012, the company acquired 1,010,236 shares of Cowen Group at $2.66 per share; its total stakes is now 2,003,994.

During the fourth quarter of 2011, Leucadia National Corp. (NYSE:LUK) invested an additional 2.65 percent or, 1,500,000 shares in Jefferies Group, when the stock went down at $11.84 per share.  During the quarter, the company also sold out its entire 37,500 shares in Global Power Equipment Group Inc (NASDAQ:GLPW).

Leucadia National has subsidiaries engaged in telecommunications, health care services, manufacturing, banking and lending, real estate, and winery businesses. Its investments compounded more than 20 percent since 1978.

During the second quarter of the current year, Leucadia National Corp. (NYSE:LUK) reported 2.14 billion worth of revenues, compared with its $1.9 billion in revenues during the first quarter. During the same period in 2011, the company reported $753.44 million in total revenues.  For the past five years, the annual return of Leukadia National’s book value was 7 percent.

The company reported a net loss of 197.25 million or 81 cents per share during the second quarter this year. A significant amount of losses incurred by the company during the period came from unrealized losses in JEF stock, which declined by 31 percent.

Before the opening of the trading at the NYSE, LUK is down by 0.14 percent at $22.19 per share.