Marc Lasry Buys Ford, Weight Watchers; Sells Dynegy

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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.

While studying economics, Brendan found himself comfortably falling down the rabbit hole of restaurant work, ultimately opening a consulting business and working as a private wine buyer. On a whim, he moved to China, and in his first week following a triumphant pub quiz victory, he found himself bleeding on the floor based on his arrogance. The same man who put him there offered him a job lecturing for the University of Wales in various sister universities throughout the Middle Kingdom. While primarily lecturing in descriptive and comparative statistics, Brendan simultaneously earned an Msc in Banking and International Finance from the University of Wales-Bangor. He's presently doing something he hates, respecting French people. Well, two, his wife and her mother in the lovely town of Antigua, Guatemala.
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