Debra Fine’s Fine Capital Partners Reduced Its Position in $HOS

Debra Fine’s Fine Capital Partners filed 13D for its stake change in Hornbeck Offshore Services, Inc. (HOS) on October 21st. According to the filing, Fine Capital Partners remains 1,090,503 shares, or 4.1% stake in its HOS position, after the firm sold a net 595,600 shares since August 29th. During the two-month period, Fine Capital Partners shrunk its position by 35% from 1,686,103 shares in the second quarter. The firm sold most of shares at about $31. HOS has a year to date return of 43% and is priced at $31.25 now.

In the second quarter eleven hedge funds had HOS in their portfolios. The other hedge funds had much smaller positions than Fine Capital Partners. Geoffrey Raynor’s Q Investment had 124 thousand shares, and Ken Griffin’s Citadel Investment Group had about 3 thousand shares and a few options.

Fine Capital Partners had $833 million invested in the market, Q2 files show. The firm put nearly half of the capital into financial sector. Also they had other large positions in Services, Technology, and Consumer Goods stocks.

Hornbeck Offshore Services, Inc. provides logistics support and specialty services to the offshore oil and gas exploration and production industry. The company operates offshore supply vessels (OSVs), multi-purpose support vessels (MPSVs), and a shore-base facility to through its subsidiaries, as well as ocean-going tugs and tank barges. The company operates two business segments: Upstream segment and Downstream segment. The company was founded in 1997 and is headquartered in Covington, Louisiana.