Billionaire Marc Lasry’s Top Stock Picks: Houghton Mifflin Harcourt Co. (HMHC), Dynegy Inc. (DYN) & Others

Marc Lasry’s Avenue Capital is a multi strategy hedge fund, focuses on distressed and undervalued debt and equity opportunities in the U.S., Europe and Asia. In its latest 13F filing, Avenue Capital disclosed its equity portfolios as held at the end of the fourth quarter of 2013. In this piece we will focus on Avenue Capital’s top five holdings in terms of value.

AVENUE CAPITAL
Avenue Capital’s 13F portfolio had $1.31 billion in securities, significantly up from $834.49 million reported in the previous 13F.
The first one is Houghton Mifflin Harcourt Co. (NASDAQ:HMHC). This position was added in the fourth quarter, the fund revealed owning 11.52 million shares of the company with a reported value of $195.37 million.

Houghton Mifflin Harcourt Co. (NASDAQ:HMHC), went public on November 14, 2013. A week after the IPO, Avenue Capital disclosed shedding 2.0 million shares of Houghton Mifflin at a price of $12 per share. Anchorage Advisors, led by Kevin Michael Ulrichbought 72,818 shares after the IPO, and a couple of weeks after that the fund raised its exposure to 21.8 million shares

Dynegy Inc. (NYSE:DYN), stood on the second spot in Avenue Capital’s equity portfolio, the position being boosted to 5.08 million shares from 4.88 million shares at the end of the third quarter. The value of the holding is $109.39 million.

The next on the list is Scorpio Bulkers Inc (NYSE:SALT), a company that went public in December and is a sister company of Scorpio Tankers, which is also one of the top holdings in Lasry’s latest 13F. The fund reported holding 10.33 million shares of Scorpio Bulkers. The value of the holding is $100.49 million.

In CIT Group Inc. (NYSE:CIT) Avenue Capital, disclosed the fourth-largest holding. The position is 1.73 million shares with a reported value of $90.21 million. The holding has been slightly raised from 1.56 million shares held at the end of the third quarter.

Scorpio Tankers Inc. (NYSE:STNG) is represented in the Avenue Capital’s equity portfolio by a $89.13 million stake, which contains 7.56 million shares. The fund has edged up its position from 7.36 million shares, as revealed in 13F for the previous quarter.

Disclosure: none

Recommended reading:

Hedge Fund News: Chase Coleman, Bill Ackman & George Soros

Hedge Funds Lost A Bundle After URS Corp (URS) Large Drop

Weiss Asset Management Top Picks Include HF2 Financial Management Inc (HTWO), Seabridge Gold, Inc. (USA) (SA) & More

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!