Marc Lasry Buys Hovnanian Enterprises, RBS And LyondellBasell

Avenue Capital Marc Lasry And Drew Hawkins

Marc Lasry revealed in his 13F filing for the quarter that ended 30th September 2013 that he added 3 new stocks to his portfolio, bought more shares of 6 stocks and reduced holdings in 10 stocks. The top ten holdings of Marc Lasry represent a substantial 82.71% of the portfolio. Marc Lasry has a market value of $785.48 million.

Marc Lasry’s major new positions

The American billionaire hedge fund manager and co-founder and chief executive officer of hedge fund Avenue Capital Group acquired 3,269,942 shares of Hovnanian Enterprises, Inc. (NYSE:HOV), which is involved in designing, constructing, marketing and selling single-family detached homes. Hovnanian Enterprises Inc was the biggest new addition to Marc Lasry’s portfolio during the last quarter. Marc Lasry purchased over 3 million shares for $17.10 million representing 2.05% of the portfolio.

Another big new addition was Royal Bank of Scotland Group plc (NYSE:RBS) (LON:RBS) (AMS:RBS) of which Lasry Marc purchased 21,100 shares for $418,000, representing 0.05% of Lasry Mac’s total portfolio.

Marc Lasry also acquired 684 shares of the independent chemical company, LyondellBasell Industries NV (NYSE:LYB) for $49,000 representing 0.01% of the total portfolio.

Marc Lasry’s top positions

The private mortgage insurer in the U.S., MGIC Investment Corp. (NYSE:MTG) is the biggest holding of Marc Lasry as of September 30th. Marc Lasry held 106,780,000 shares of MGIC valuing $134.91 million constituting a sizable 16.17% of the overall portfolio.

Dynegy Inc. (NYSE:DYN), involved in production and sale of electric energy occupied the second-largest holding for Marc Lasry with 4,883,374 shares for $94.34 million representing 11.31% of the total portfolio. Magnachip Semiconductor Corp (NYSE:MX) was the third-largest holding of Marc Lasry. The designer and manufacturer of analog and mixed-signal semiconductor products company constituted 10.55% of Marc Lasry’s overall portfolio with 4,088,978 shares for $88.03 million.

The fourth -argest position was CIT Group Inc. (NYSE:CIT) of which Marc Lasry owned 1,555,489 shares for $75.86 million representing 9.09% of the overall portfolio. The fifth-largest position for Marc Lasry as of September 30th was Scorpio Tankers Inc. (NYSE:STNG) of which Marc Lasry owned 7,355,817 shares for $71.79 million constituting 8.60% of its total portfolio.

During the period ending 30th September 2013, Marc Lasry did not sell out its entire stake in any company.

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About the Author

Mani
Mani is a Senior Financial Consultant. He has worked in Senior Management role in large banking, financial and information technology organizations. He has provided solutions for major banking and securities firms across the globe in the area of retail, corporate and investment banking. He holds MBA (Finance) and Professional Management Accounting Qualifications. His hobbies are tracking global financial developments and watching sports

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