Hutchin Hill Capital has some new holdings in their portfolio, as they have released their 13F filling for the 2nd quarter. The fund, founded by Neil Chriss, formerly of Morgan Stanley (NYSE:MS), and Goldman Sachs Group, Inc. (NYSE:GS), has show consistent growth since its inception. Now, it stands as one of the top credit hedge funds after betting against JPMorgan Chase & Co. (NYSE:JPM) earlier this year.
In August, Mohnish Pabrai took part in Brown University's Value Investing Speaker Series, answering a series of questions from students. Q3 2021 hedge fund letters, conferences and more One of the topics he covered was the issue of finding cheap equities, a process the value investor has plenty of experience with. Cheap Stocks In the Read More
Their top 5 postions are as follows (we have more information which can be found here.):
1. Dollar Thrifty Automotive Group, Inc. (NYSE:DTG), which accounts for 4.1% of their overall portfolio.
2. Express Scripts Holding Company (NASDAQ:ESRX), which makes up 2.87% of the portfolio.
3. Liberty Media Corp New Liberty Cap Series A (NASDAQ:LMCA), which accounts for 2.56% of the portfolio.
4. Tyco International Ltd. (NYSE:TYC), which makes up a total of 2.43% of their overall holdings.
5. Hertz Global Holdings, Inc. (NYSE:HTZ), which accounts for 2.4% of their portfolio.
The top 5 new holdings for the company are:
1.Corrections Corp Of America (NYSE:CXW), which now involves 1.78% of the portfolio.
2. Kinder Morgan, Inc. WarrantsKinder Morgan Inc (NYSE:KMI), which makes up 1.71% of the portfolio.
3. Discover Financial Services (NYSE:DFS), which makes up 1.62% of the company portfolio.
4. iShares Russell 1000 Growth Index (ETF) (NYSEARCA:IWF), which accounts for 1.54% of the overall portfolio.
5. Technology Select Sector SPDR, which makes up 1.28% of the portfolio.
Hutchin Hill Sold out of the following positions this quarter:
1. El Paso Corp, which equalled 4.67% of the portfolio.
2. Medco Health Solutions Inc. (NYSE:MHS), which accounted for 3.2% of the portfolio.
3. Sunoco, Inc. (NYSE:SUN), which was a total of 1.95% of the portfolio.
4. Marathon Petroleum Corporation Common Stock, which involved 1.4% of their portfolio.
5. Market Vectors ETF TR OIL SVCS ETF, which made up 1.34% of the company’s holdings.
It would seem that Hutchin Hill has invested rather strongly in every area, other than technology. While they do have a few technology holdings, they are not strongly indicated in their new acquisitions, or in holdings which were added to. The company is one of the more stable hedge funds on the market today. The fund’s board has carefully selected stock, which they believe will return the most to their investors, while balancing the risks at the same time. The Company does not release all of its detailed information regarding earnings to the general public on its form 13-F filing, however, we have obtained much of the information not reported on the 13F.
Hutchin Hill is famous among investors, due to the fact that it was the one hedge fund to bet against JPMorgan Chase & Co. (NYSE:JPM) during the whole London Whale scandal. Hutchin’s analysts and researchers advised that there were discrepancies in CDS NA. IG. 9. These pricing discrepancies caused the company to invest, and though the investment was losing at first, when the London Whale incident came to light, Hutchin profited big time in the wake. The amount of profit earned by Hutchin Hill has never been disclosed even privately.