Alden Global Buys Dell, Zynga, Apple, Morgan Stanley, Exits Yahoo!

Alden Global Buys Dell, Zynga, Apple, Morgan Stanley, Exits Yahoo!

Alden Global Capital’s latest 13F filing with the Securities and Exchange Commission indicates that is portfolio was worth $5.8 billion at the end of March. The firm purchased seven new stocks, including Zynga Inc (NASDAQ:ZNGA) and Dell Inc (NASDAQ:DELL), during the first quarter and increased its holdings in two others. It also sold out of four stocks and reduced its holdings in seven others.

Alden Global

At the end of the first quarter, the firm’s top 10 holdings made up over 85 percent of its portfolio. The top five holdings were listed as US Airways Group Inc (NYSE:LCC), Dell Inc (NASDAQ:DELL), Visteon Corp (NYSE:VC), Louisiana-Pacific Corporation (NYSE:LPX) and United Continental Holdings Inc (NYSE:UAL).

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Alden Global’s New Purchases

The firm’s top two new purchases during the quarter were Zynga Inc (NASDAQ:ZNGA) and Dell Inc (NASDAQ:DELL). Of course Dell Inc (NASDAQ:DELL) has been in the middle of buyout talks, first with a go-private offer from founder Michael Dell, and then through a string of possibilities. The latest offer is a second one from activist investor Carl Icahn.

And then there’s Zynga Inc (NASDAQ:ZNGA) and its uncertain future. The company’s fate hangs heavily on the future of online gambling and whether it can gain a foothold in the states which legalized it during the first quarter, sending shares of Zynga soaring.

During the first three months of the year, Alden Global bought 4.5 million shares of Zynga and almost 4.5 million shares of Dell. The firm’s other new purchases were also well-known companies: United Continental Holdings Inc (NYSE:UAL), Morgan Stanley (NYSE:MS), Whirlpool Corporation (NYSE:WHR), Apple Inc. (NASDAQ:AAPL) and Lear Corporation (NYSE:LEA).

Alden Global’s Increases

The firm increased its holdings in US Airways Group Inc (NYSE:LCC) and ParkerVision, Inc. (NASDAQ:PRKR) during the first quarter.

Alden Global’s Sell-offs

The biggest sell-off for the firm was Yahoo! Inc. (NASDAQ:YHOO). It sold more than 5.3 million shares of the search company’s stock during the first quarter. At the end of the previous quarter, Yahoo! Inc. (NASDAQ:YHOO) accounted for almost 19 percent of the firm’s portfolio.

The firm also dumped more than 1.2 million shares of Beazer Homes USA, Inc. (NYSE:BZH), 195,000 shares of James River Coal Company (NASDAQ:JRCC) and 73,900 shares of Rio Tinto plc (NYSE:RIO) during the first quarter.

Alden Global’s Reductions

The largest reduction for the firm was Bank of America Corp (NYSE:BAC), of which it sold more than 5 million shares, trimming its position in the stock from almost 13 percent of its portfolio to 2.54 percent of its portfolio.

The firm reduced its position in Louisiana-Pacific Corporation (NYSE:LPX), although that company still remained more than 10 percent of the firm’s portfolio at the end of March. It also cut its holdings in Visteon Corp (NYSE:VC), although that stock was still more than 10 percent of the firm’s portfolio at the end of the reporting period as well.

The firm also reduced its holdings in Citigroup Inc (NYSE:C), Delphi Automotive PLC (NYSE:DLPH), Standard Pacific Corp. (NYSE:SPF) and Hovnanian Enterprises, Inc. (NYSE:HOV).

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