The 13F filing of Canyon Capital Advisors, the investment management firm co-founded and co-managed by Joshua Friedman and Mitchell Julis, showed that its total stockholdings have a market value of $601,064,000 for the first quarter of 2013. In the previous quarter, the alternative asset manager’s portfolio was worth $669,822,256.
Canyon Capital Advisors and its affiliates have $19 billion total assets under management (AUM). Its headquarters are located in Los Angeles, California and it has 200 staff members, including 100 investment professionals.
New Stockholdings
During the first quarter, the investment management firm purchased 10 new stocks including Community Health Systems (NYSE:CYH) at 199,730 shares, Devon Energy Corp (NYSE:DVN) 333,860 shares, Energen Corporation (NYSE:EGN) 97,800 shares, General Motors Company (NYSE:GM) 200,000 shares, and HCA Holdings Inc (NYSE:HCA) 144,610 shares.
Canyon Capital also purchased 148,000 shares of Hess Corp. (NYSE:HES), 49,060 shares of Health Management Associates Inc (NYSE:HMA), 144,600 shares of Altisource Residential Corp (NYSE:RESI), 202,600 shares of SandRidge Energy Inc. (NYSE:SD), and 273,000 shares of Scorpio Tankers Inc. (NYSE:STNG).
Increased Positions
Canyon Capital boosted its stake in the following companies: Berry Plastics Group Inc (NYSE:BERY) 228,917 shares to 1,552,789 shares, Clear Channel Outdoor Holdings, Inc. (NYSE:CCO) by 710,139 shares to 4,689,187 shares, and Chimera Investment Corporation (NYSE:CIM) by 802,496 shares to 1,027,826 shares.
The investment management firm also increased its position in CIT Group Inc. (NYSE:CIT) by 2,370 shares to 476,970 shares, Cumulus Media Inc (NASDAQ:CMLS) 647,800 shares, Cablevision Systems Corporation (NYSE:CVC) by 703,151, and Caesars Entertainment Corp (NASDAQ:CZR) by 117,909 shares. It also bought 244,707 shares of Graphic Packaging Holding Company (NYSE:GPK), 20,600 shares of Nordion Inc (NYSE:NDZ), and 109,460 shares of Spirit AeroSystems Holdings, Inc. (NYSE:SPR).
Reduced & Sold Out Positions
Canyon Capital reduced its stake in Apple Inc. (NASDAQ:AAPL) by 42,376 shares, Belo Corp (NYSE:BLC) by 1,452,332 shares, with a call option to sell all its remaining shares. It also dumped some 284,010 shares of DeVry Inc. (NYSE:DV), Philip Morris International Inc. (NYSE:PM) by 55,200 shares, and Jack in the Box Inc. (NASDAQ:JACK) by 295,816 shares.
The investment management firm significantly cut its position in Cemex SAB de CV (NYSE:CX) by 9.5 million shares, Forest City Enterprises, Inc. (NYSE:FCE.A) by 16.5 million shares, Navistar International Corp (NYSE:NAV) by 5 million shares, and PHH Corporation (NYSE:PHH) by 25 million shares.
It sold out its entire stake in Barrick Gold Corporation (NYSE:ABX), Goldcorp Inc. (NYSE:GG), SUPERVALU INC. (NYSE:SVU), Regal Entertainment Group (NYSE:RGC), and MBIA Inc. (NYSE:MBI).
