Highbridge Capital Management: Five Important Moves During Q1

Glenn Russell Dubin’s Highbridge Capital Management, has recently presented its Form 13F Filing for the first quarter of 2014 at the U.S. Securities and Exchange Commission. Over the three months ending on March 31, the fund started some 470 new positions, increased its stakes in more than 230 of its preexisting holdings, and sold out of around 480. In this article, I will take a look at five of Mr. Russell’s most important moves during the first quarter.

HIGHBRIDGE CAPITAL MANAGEMENT

Highbridge’s focus on services, technology and healthcare stocks continued through the first quarter, with services stocks accounting for more than 19% of its portfolio’s value, services, more than 18%, and healthcare, about 17%. One of his bets on tech is placed on Intel Corporation (NASDAQ:INTC), a $129 billion market cap semiconductor chip maker that develops integrated digital technology products. Over Q1, the fund increased its position in the stock by 1,200%, and now owns about 2.35 million shares, worth more than $60 million.

Aside from Highbridge among shareholders of  Intel Corporation (NASDAQ:INTC) are Harris Associates (Natixis Global Asset Management), which owns 66.86 million shares, worth about $1.73 billion, and Jean-Marie Eveillard’s First Eagle Investment Management’s, with 38 million shares, up 8% in relation to Q4 2013. I should also mention that Clint Carlson’s Carlson Capital also started, during the first three months of the year, a position in Intel Corporation (NASDAQ:INTC), worth more than $100 million.

The second company in this list is Kinder Morgan Inc (NYSE:KMI), a $34.3 billion market cap energy transportation and storage company. Russell increased his position in the stock by 45% over the last reported quarter, and now holds 1.835 million shares, worth more than $60 million.

However, two of the company’s largest hedge fund shareholders, Stephen Mandel and Barry Rosenstein, who owned 69.9 million and 15.5 million shares, respectively, closed out their positions in Kinder Morgan Inc (NYSE:KMI) lately. On the other hand, D E Shaw last declared having upped its bets on Kinder Morgan Inc (NYSE:KMI) by 349%, to more than 6 million shares, worth roughly $200 million.

Next is Facebook Inc (NASDAQ:FB), a $152 billion market cap social networking company that needs no introduction. Unlike in the previous cases, Highbridge cut its exposure to this stock –by 48%. The fund now holds 972,348 shares of the company, worth more than $57 million. Another fund that also -substantially- reduced its stake in Facebook Inc (NASDAQ:FB) is Rob Citrone’s Discovery Capital Management: which sold 6.49 million shares over Q4, and now owns 2.73 million shares of Facebook Inc (NASDAQ:FB).

Back to bullish moves, a couple more are worth mentioning; those of PepsiCo, Inc. (NYSE:PEP) and The Procter & Gamble Company (NYSE:PG), two non-cyclical consumer goods behemoths. Highbridge slightly upped its stakes in both companies over Q1 and now owns about $60 million in PepsiCo, Inc. (NYSE:PEP)’s stock, and $55 million in The Procter & Gamble Company (NYSE:PG)’s stock. Another fund that is betting big on both these companies is Donald Yacktman’s Yacktman Asset Management, which owns more than $2 billion worth of each company’s stock.

Highbridge Capital Management is a New York based hedge fund with around $29 billion in assets under management, and an equity portfolio worth roughly $8 billion. In late 2004, J.P. Morgan Asset Management acquired a majority interest in the fund, giving birth to one of the first and most significant strategic alliances in the hedge fund industry. In July 2009, J.P. Morgan completed its purchase of almost all of the remaining shares.

Disclosure: Javier Hasse holds no position in any stocks mentioned.

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 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

50 Crazy Facts About Japan You Won’t Believe

Top 10 Least Expensive Hybrid Cars to Save the Planet With

The 10 Biggest ‘Gate’ Controversies in History

The 10 States with the Highest Nursing Shortages Leaving Their Hospitals Depleted

The 10 Best Value Investment Blogs that Every Investor Must Read

The 6 Cheapest Boarding Schools in Europe 2015

The 5 Most Expensive Cars To Insure in the World

The 10 Most Common Genetically Modified Foods

10 Self-Made Billionaires Who Came From Nothing

The 10 Most Expensive Cities to Live in North America

The 13 Most Expensive Headphones in the World to Represent

The Top 20 Wealthiest Soccer Teams in 2014

4 BuzzWorthy Cannabis Stocks And Some Smoking Derivative Plays

The 10 Healthiest Fast Food Chains in America to Dine At

The 5 Most Expensive Cat Food Brands You Can Spoil Your Kitty With

The 6 Best eCommerce Platforms for Small Businesses

The 10 Worst Mistakes an Entrepreneur Can Make

The 5 Most OP Characters in League of Legends to Carry Games and Crush Foes With

The 5 Best Foods to Eat Before Running that Will Help You Pound the Pavement

10 Glaring Plot Holes in The Walking Dead that a Zombie-Filled Bus Could Drive Through

The 5 Biggest Celebrity Stoners Who Love Their Reefer

The 10 Most Overrated Movies Of All Time by Out-of-Touch Critics

Top 6 Least Expensive Cruise Destinations For 2015 that Will Take You to Paradise

10 States with Lowest Substance Abuse Rates in America

The 14 Most Watched TV Finales Ever

The 10 Best Selling Role Playing Games of All Time for PC

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

Top 6 Cities For The Ultra Rich to Live in Comfort

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

How 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

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!