BlueMountain Capital Management Llc said in its latest 13F filing with the Securities and Exchange Commission that its market value increased from $1.64 billion to $2.41 billion during the second quarter. The New York-based investment firm made investments in 97 new stocks, boosted stake in 57 stocks, exited 59 stocks and cut holdings in 20 stocks. The top ten holdings of BlueMountain Capital account for 30.86% of its total AUM, indicating that the investment firm is well diversified.
Though markets are still wary of Europe due to the region’s troubled banking system, rising unemployment and political instability, BlueMountain has made some real money in Southern Europe.
BlueMountain’s major new holdings
During the second quarter, BlueMountain purchased 2,935,183 new shares of General Motors Company (NYSE:GM) for $ 97.77 million. This massive purchasing made General Motors the biggest holding of BlueMountain, accounting for 4.05% of the firm’s total portfolio. Another large new addition was Lexmark International Inc (NYSE:LXK). BlueMountain purchased 2,997,801 new shares of Lexmark International for about $ 91.64 million. Lexmark International accounts for 3.79% of the hedge fund’s portfolio.
The other major purchases were Valero Energy Corporation (NYSE:VLO) and Mylan Inc (NASDAQ:MYL). The investment firm bought 1,792,827 shares of Valero Energy for $ 62.33 million. The energy company now accounts for 2.58% of BlueMountain’s portfolio. In Mylan, the hedge fund purchased 23,000,000 new shares for $54.50 million through the second quarter.
BlueMountain Capital Management sold its entire 427,200 shares of iShares iBoxx $ High Yid Corp Bond (ETF) (NYSEARCA:HYG) during the quarter. At the beginning of the quarter, it accounted for 2.45% of the fund’s portfolio. It also exited its position in Domtar Corp (NYSE:UFS) (TSE:UFS), in which BlueMountain held 487,991 shares prior to the quarter. The other sold out positions are News Corp (NASDAQ:NWS) (NASDAQ:NWSA) and Rock-Tenn Company (NYSE:RKT). At the beginning of the quarter, BlueMountain owned 1,064,358 shares in News Corp. (NASDAQ:NWSA) and 325,877 shares of Rock-Tenn.
Top holdings of BlueMountain Capital
The newly added positions, General Motors Company (NYSE:GM) and Lexmark International Inc (NYSE:LXK), have become the top two holdings of BlueMountain Capital. American International Group Inc (NYSE:AIG) occupies third slot, accounting for 3.55% of the investment firm’s total portfolio. BlueMountain owns 1,919,195 shares of the insurance giant that are currently valued at $85.78 million. Citigroup Inc (NYSE:C) is the fourth largest holding of BlueMountain. The banking giant accounts for 3.35% of its portfolio. BlueMountain owns 1,685,454 shares of Citigroup that have a market value of $80.85 million.