Marc Lasry Buys Ford, Weight Watchers; Sells Dynegy

As of 03/31/14, Marc Lasry manages $1,536,395,000 in funds required to be reported to the SEC, up from the $1,311,412,000 reported in their last 13F report. The fund, managed by the Jewish Moroccan-American Marc Lasry, opened positions in 9 stocks, including YRC Worldwide, Inc. (NASDAQ:YRCW), closed out of 3 stocks, the most significant being its holdings in SPDR Barclays Capital High Yield Bnd ETF (NYSEARCA:JNK), and took some profits out of its holdings in Verso Paper Corp. (NYSE:VRS).

 

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After a relatively quiet Q3 in 2013, the fund has enjoyed a resurgence and reported a sharp increase in market value over the past few quarters. Headquartered in New York, Marc Lasry is a multi strategy hedge fund, whose main focuses are distressed and undervalued debt, as well as equity opportunities, in the U.S., Europe and Asia.

Marc Lasry’s new positions

Marc Lasry added 9 new stocks to its portfolio. Its largest acquisition was 7,273,125 shares in YRC Worldwide, Inc. (NASDAQ:YRCW), worth $163,645,000, followed by 18,697,000 shares in Meritor Inc (NYSE:MTOR), which have a market value of $28,536,000. It also opened positions in DHT Holdings Inc (NYSE:DHT), buying 1,803,700 shares worth $14,033,000, and 5,000,000 shares in Ford Motor Company (NYSE:F) at $9,053,000. Further acquisitions include 4,000,000 in Jarden Corp (NYSE:JAH) at $5,563,000, as well as smaller positions in Central European Media Enterprises Ltd. (NASDAQ:CETV), Boyd Gaming Corporation (NYSE:BYD), Weight Watchers International, Inc. (NYSE:WTW), and Caesars Acquisition Company (NASDAQ:CACQ).

Marc Lasry’s closed positions

Marc Lasry closed positions on SPDR Barclays High Yield Bond ETF, selling 575,000 shares, and sold all 195,000 of its shares in iShares iBoxx $ High Yid Corp Bond (ETF) (NYSEARCA:HYG), as well as closing out 684 shares in LyondellBasell Industries NV (NYSE:LYB). The fund also sold 421,965 shares in Verso Paper Corp, leaving it with 2,457,459 shares worth $7,103,000, extracting profit from a position that it presumably does not expect to hold its value.

Marc Lasry’s biggest positions

Marc Lasry’s biggest positions are 16.84% in Houghton Mifflin Harcourt Co (NASDAQ:HMHC), followed by 9.37% in Dynegy Inc. (NYSE:DYN) and 8.84% in Central European Media Enterprises Ltd. (NASDAQ:CETV). Consumer discretionary represents the largest proportion of holdings by sector at 28.2%, closely followed by transport (25.2%) and finance (23.3%). Marc Lasry possesses a varied portfolio which also includes holdings in utilities & telecommunications, information technology, materials and energy.