ADAR Investment Management LLC, led by Abby Flamholz and Yehuda Blinder, focuses on event driven stocks that are going through significant changes. In a 13F filing it revealed its holding for the fourth quarter. The value of its equity portfolio has significantly decreased to $18.34 million from $329.97 million in the third quarter. We have, selected five largest holdings – in terms of value – that ADAR Investment Management LLC has held in his equity portfolio, at the end of last year.
Out of the top-five largest value holdings, the first on the list is JPMorgan Chase & Co. (NYSE:JPM) a $213 billion market cap financial holding company. The position in the stock remained basically flat, the fund holds 37,701 shares now versus 37,789 shares held in the previous quarter. The value of the holding is $2.21 million.
Paul Ruddock and Steve Heinz’s Lansdowne Partners, is also bullish on JPMorgan, and held 18.87 million shares at the end of September 2013.
Second of the top-five companies in ADAR Investment Management’s equity portfolio is Lockheed Martin Corporation (NYSE:LMT), the global security and aerospace company. The fund increased the position to nearly 14,291 shares, during the fourth quarter, from 6,178 shares held earlier, the current value amounts to $2.12 million.
Recently, Kenneth Possenriede, Vice President & Treasurer of Lockheed Martin Corporation (NYSE:LMT), sold 9,827 shares and now holds 3,395 shares.
Third on the top-five list is Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT) with 26,640 shares, valued at $2.11 million. The position was sliced from 383,372 shares held at the end of the third quarter. Starwood Hotels & Resorts Worldwide Inc stood on the second spot in ADAR Investment Management’s equity portfolio at the end of the third quarter.
Bruce Duncan, director at Starwood Hotels & Resorts Worldwide Inc (NYSE:HOT), sold 29,500 shares at the end of the quarter and now owns 27,491 shares.
ADAR Investment Management’s fourth-largest holding is Ares Commercial Real Estate Corp (NYSE:ACRE) with a $2.09 million stake. The fund holds 159,510 shares, upped from 40,452 shares held at the end of the third quarter.
Of all the hedge funds we track, Silver Capital Management Llc, led by Bruce Silver is the largest shareholder of Ares Commercial Real Estate Corp (NYSE:ACRE), who owns 118,808, worth $1.48 million
ADAR Investment Management’s fifth most valuable holding is represented by Ryman Hospitality Properties Inc (NYSE:RHP). The stake has been cut to 49,326 shares valued at $2.06 million, from 376,079 shares held at the end of the third quarter.