Canyon Capital’s Portfolio Activity

Canyon Capital was founded by Joshua Friedman and Mitchell Julis. In the beginning of 2010, Canyon Capital ranked as the 22nd largest U.S managers. The flagship fund of Canyon Capital, Value Realization Fund, ranked as the 9th most profitable hedge fund in 2010. The portfolio of Canyon Capital is highly diversified. However, U.S equity investments make up only a small portion of the total portfolio. At the end of December 2010, Canyon had $1.32 invested in U.S equities which accounted for only 7% of the assets under management. The investment style at Canyon Capital is value-oriented. They adopt a multi-strategy, event-driven approach for investment in wide range of economic sectors.

Marathon Oil Corporation (NYSE:MRO)

During the second quarter of 2011, Canyon Capital reduced Central European Media Entertainment Ltd (CETV) by 3%, Marathon Oil Corp (MRO) by 16% and Dryships Inc (DRYS) by 52%. All the reduced stocks underperformed since the end of June. Central European Media Entertainment Ltd (CETV) lost 35%, Marathon Oil Corp (MRO) lost 19% and Dryships Inc (DRYS) lost 37%. Here are Canyon Capital’s top stock picks at the end of June:

Chemtura Corp (CHMT) is the largest U.S equity held by Canyon Capital. It makes up 6.79% of their 13F portfolio. During the second quarter Canyon Capital increased the stake in the company by 16%. Canyon Capital has the largest position in Chemtura. Since the end of June, Chemtura has lost 34%. Among the known hedge fund managers, Steven Cohen is also a stakeholder of the company. Steven Cohen’s Sac capital has $13 million invested in the company (view Steven Cohen’s bullish stock picks).

Similar to Bruce Berkowitz’s Fairholme (check out Bruce Berkowitz’ current holdings), Canyon Capital has stake in Bank of America (BAC) and C I T Group (CIT). Bank of America has gained considerable media attention over the past few months as some of the major investors such as Eric Mindich (view Eric Mindich’s stock picks) and John Paulson (see John Paulson’s top holdings) are highly bullish about the company. During the second quarter, Canyon Capital increased stake in Bank of America (BAC) by 8% and in C I T Group (CIT) by 35%. Since the end of June, CIT lost 27% while BAC lost 36%.

Genworth Financial Inc (GNW) is the second largest holding and Lowes Companies Inc (LOW) is the fourth largest holding of Canyon Capital’s 13F portfolio. During the second quarter ending June, Canyon Capital increased stake in Genworth by 30% and in Lowes by 44%. Since the end of June, Genworth lost 36% and Lowes lost 12%. Jonathon Jacobson’s Highfields Capital Management has the largest stake in both the companies (see Jonathon Jacobson’s top stocks). Ken Griffin’s Citadel Investment Group also has $106 million invested in Lowes and $3 million invested in Genworth’s put options (check out Ken Griffin’s current portfolio).

JPMorgan Chase & Co (JPM) is also one of the top favorites of some of the most popular hedge fund managers. Since the end of June, JPM lost 12%. During the second quarter of 2011, Canyon Capital increased stake in the company by 9%. Lee Ainslie is highly bullish about JPM as he increased the stake in the company by 80% during the second quarter (see Lee Ainslie’s other bullish stock picks).

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

The 10 Countries with the Highest Suicide Rates

The 10 Most Technologically Advanced Countries in the World

The 10 Safest Countries in the World to Live in Peace

The 10 Top Selling Smartphones in the World 2014

The 12 Biggest Shopping Centers in the World

The 10 Friendliest Countries in the World

Qihoo 360 Technology Co Ltd (QIHU), Actavis plc (ACT), Yahoo! Inc. (YHOO) Among 20 Long Ideas from Sohn Canada

The 10 Laziest Countries in the World

The 10 Most Polluted Countries in the World

The 10 Most Dangerous Cities in America 2014

The Top 10 Gold Producing Countries in the World

The 10 Tallest Buildings in the World

The 10 Richest Stand Up Comedians in the World

The 10 Fattest Countries in the World

The 5 Best Summer Jobs for Teens

The 10 Most Religious Countries in the World Keeping the Faith

The 10 Most Educated Countries in the World

The 10 Most Popular Cell Phones in the World

The 10 Drunkest Countries in the World

The 10 Most Expensive Private Schools in the World

The 10 Smallest Countries in the World

Walking Dead Season 5 Spoilers You’ll Wish You Didn’t Know

The 10 Poorest Countries in the World

The 10 Greenest Countries in the World

The Top 10 Countries with the Highest Population in the World

The 10 Most Visited Countries in the World

The Top 10 Star Wars Characters in the Iconic Series

The 10 Most Expensive Android Phones in the World

5 Reasons Why The Illuminati Is Real and a Threat to Society

The 6 Scariest Halloween Costumes Ever Screamed At

The 4 Biggest Hedge Fund Managers in the World Today

The 15 Most Densely Populated Countries in the World

The 10 Biggest Tea Drinking Countries in the World

Top 6 Ways to Improve Your Checkout Process and Close Sales

The 5 Most Profitable Online Businesses You Can Start Today

The 20 Most Profitable Hospitals in the US

The 5 Most Profitable Home Businesses to Start

The 7 Teams that Will Win the Stanley Cup in 2015

The Top 10 Most Expensive Digital Cameras to Snap Stunning Shots With

The 10 Highest Quality Fast Food Restaurants In America Today

The 8 Best Halloween Decorating Ideas to Spook Up Your House

10 Marvel Women that Should Get a Movie Right Now

The 20 Best Remixes of Popular Songs that Will Make You Forget the Originals

7 Most Expensive Cities in the World

5 Least Expensive Cities in the World

10 Celebrities Who Believe In Scientology

10 High Margin Food Products to Build a Business Around

The 10 Most Expensive Clothing Stores in the United States to Get Decked Out At

The 5 Biggest Kickstarter Scams That Swindled Backers’ Donations

The 10 Most Expensive Boarding Schools In the World

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!