Charles Davidson’s Wexford Capital’s Latest Moves

In the case of RLJ Entertainment Inc (NASDAQ:RLJE), Wexford’s 1.47 million shares in the company still express confidence in the digital distributor and entertainment developer’s stock, despite its struggles. They originally purchased around 1.33 million shares at $5 each during RLJ’s IPO, and though the stock initially opened at $8.50, it’s been a mostly downhill slide since; RLJ Entertainment is currently trading at just $1.99. David Keidan’s Buckingham Capital Management is another major RLJ shareholder, with 517,951 shares.

While Wexford is the largest shareholder in both Famous Dave’s and RLJ, those holdings are not the most prominent in their portfolio, coming in at 4^th and 39^th place in terms of value respectively. Instead, Diamondback Energy, Inc. (NASDAQ:FANG) is by far their most valuable holding. Their 7.2 million shares in the company are worth $538 million, representing nearly 50% of the value of Wexford’s $1.09 billion equity portfolio as of September 30.

Wexford Capital also has large positions in Rhino Resource Partners Lp (NYSE:RNO), and American Airlines Group Inc (NASDAQ:AAL), with 6.64 million shares in the former, and 1.05 million shares in the latter. They raised their position by 64% in the latter during the third quarter of 2014, and the stock responded in kind with a strong finish to the year, rising nearly 50% during the final three months of 2014.

Disclosure: None