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

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top 6 Tax Scams and How to Protect Yourself

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

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!