Wilbur Ross, the famous quintessential distressed asset investor, is the manager of Invesco Private Capital with 19 stocks under its portfolio. The stocks have approximately $1.118 billion total market value, as of November 2012 (in the Invesco Private Capital fund), according to the latest 13F filing.
Wilbur Ross is one of the richest persons in the United States, with a net worth of $2.3 billion, based on The Forbes 400: Richest Americans. Most of his investments are focused on distressed and failing companies that need restructuring, particularly in steel, coal, telecommunications, and textile industries.
ValueWalk's Raul Panganiban interviews Kirk Du Plessis, Founder and CEO of Option Alpha, and discuss Option Alpha and his general approach to investing. Q1 2021 hedge fund letters, conferences and more The following is a computer generated transcript and may contain some errors. Interview with Option Alpha's Kirk Du Plessis
During the quarter, Ross opened one new position is his portfolio. He bought 1,323,700 shares of E2open Inc (NASDAQ:EOPN), a company engaged in providing cloud-based, on-demand software solutions that allows enterprises to procure, manufacture, sell, and distribute products efficiently, through collaborative execution across global trading networks. The market value of his holdings is $17.976 million.
Ross also increased his stakes in Zynga, Inc (NASDAQ:ZNGA) by 22.54 percent to 1,034,646 shares, with an approximate value of $2.993 million. The shares of the embattled online gaming company are trading at $2.18 per share, up by 3.22 percent on Wednesday, November 14 (10:40 AM, ET). Ross initially bought 844,326 shares of Zynga Inc (NASDAQ:ZNGA) at a price range of $5.03 to $12.88 per share.
He also increased his holdings in EXCO Resources Inc (NYSE:XCO) by 6.78 percent, to 31,504,077 shares.
He reduced his position in ZipRealty, Inc. (NASDAQ:ZIPR) by 44.88 percent to 12,282 shares. He also dumped 85.71 percent of his stakes in Cyclacel Pharmaceuticals Inc (NASDAQ:CYCC), reducing it to 39,456 shares, Groupon Inc (NASDAQ:GRPN) by 76.78 percent, down to 12,099 shares, and Key Energy Services, Inc. (NYSE:KEG) by 26.44 percent to 252,100 shares. He also reduced his holdings in United Continental Holdings Inc (NYSE:UAL) by 22.52 percent to 108,700 shares and BioScrip Inc. (NASDAQ:BIOS) by 86.94 percent to 39,456 shares.
Ross sold out his positions in MaxLinear, Inc. (NYSE:MXL), Tangoe Inc (NASDAQ:TNGO), and Ubiquiti Networks Inc (NASDAQ:UBNT).