The latest 13F filing of York Capital Management Global Advisors, the investment management firm founded by James Dinan showed that it bought 36 new stocks, increased its stake in 12 companies, reduced its position in 28 stocks, and sold out its position in 35 stocks. Its top ten holdings account 43.67 percent of its portfolio.
Some of its largest positions during the quarter include H.J. Heinz Company (NYSE:HNZ), Realogy Holdings Corp (NYSE:RLGY), American International Group Inc (NYSE:AIG), Hertz Global Holding, Inc. (NYSE:HTZ), and Virgin Media Inc (NASDAQ:VMED).
Value Partners Asia ex-Japan Equity Fund has delivered a 60.7% return since its inception three years ago. In comparison, the MSCI All Counties Asia (ex-Japan) index has returned just 34% over the same period. The fund, which targets what it calls the best-in-class companies in "growth-like" areas of the market, such as information technology and Read More
York Capital’s New Stockholdings
During the first quarter, York Capital purchased significant positions in the following companies: H.J. Heinz Company (NYSE:HNZ) 4,748,119 shares worth more than $343.146 million. The stock accounts 7.36 percent of its portfolio. Last month, Heinz’ shareholders approved its transaction to be acquired by Warren Buffet’s Berkshire Hathaway Inc. (NYSE:BRK.A) (NYSE:BRK.B) and 3G Capital.
The investment management firm acquired 4,837,406 shares of Virgin Media Inc (NASDAQ:VMED) worth approximately $238.650 million. The stock accounts 5.12 percent of its portfolio. The company has $13.77 billion market capitalization and its stock value went up from $21.25 to $51.89 per share over the 52-week range.
York Capital purchased 1,864,171 shares of Hess Corporation (NYSE:HES) with a market value of more than $133.493 million. The company has an ongoing proxy fight with activist hedge fund Elliot Management, which demands changes in the board of directors. Over the 52-week range, the stock price of HES increased from $39.67 to $74.48 per share.
Some of the significant new stock acquisitions of York Capital include CBRE Group Inc (NYSE:CBG) 6,349,033 shares, Accuride Corp (NYSE:ACW) 2,000,000 shares, CommonWealth Reit (NYSE:CWH) 2,121,683 shares, and Hartford Financial Services Group Inc (NYSE:HIG) 3,854,778 shares.
York Capital boosted its stake in the following companies: Carnival Corporation (NYSE:CCL) 1,247,349 shares, Chemtura Corp (NYSE:CHMT) 2,000,757 shares, General Motors Company (NYSE:GM) 2,210,637 shares, DigitalGlobe Inc (NYSE:DGI) 2,281,681 shares, and Realogy Holdings Corp (NYSE:RLGY) 292,750 shares.
The investment management firm significantly reduced its stockholdings in American International Group Inc (NYSE:AIG) 2,037,061 shares, iShare Russell 2000 Index (CALL) (NYSEARCA:IWM) 4,971,000 shares, Manitowoc Company Inc (NYSE:MTW) 1,274, 681 shares, Sprint Nextel Corporation (NYSE:S) 12,091,824 shares, and Sirius XM Radio Inc (NASDAQ:SIRI) 1,386,697 shares.
Sold Out Stockholdings
York Capital sold out its stake in Apple Inc. (NASDAQ:AAPL), Citigroup Inc. (NYSE:C), Fifth & Pacific Companies Inc (NYSE:FNP), Yahoo! Inc (NASDAQ:YHOO), and Starz (NASDAQ:STRZA) etc.