In the current round of 13F filings, hedge funds and other institutional investors are disclosing their equity portfolios as held at the end of the last year. In its latest 13F, Bruce J. Richards and Louis Hanover’s Marathon Asset Management revealed its holdings as held at the end of the fourth quarter of 2013.
The total value of Marathon Asset Management’s equity portfolio jumped to $2.48 billion in the fourth quarter from $1.61 billion in the third quarter of 2013. In this piece, we will look at Marathon Asset Management’s top five holdings in terms of value that the fund has held in his equity portfolio at the end of last year.
The first one is Marathon Petroleum Corp. (NYSE:MPC) in which the fund disclosed 959,772 shares, worth $83.04 million, up from 300,000 shares reported in third quarter. Marathon Petroleum Corp. (NYSE:MPC) is the largest refiner, with a crude oil refining capacity of about 1.7 million barrels per calendar day in its seven-refinery system.
The second position is General Motors Company (NYSE:GM) in which the fund disclosed a stake of about $49.05 million. The fund owns 1.20 million shares of the company.
Third on the list is MBIA Inc. (NYSE:MBI), in which the fund disclosed ownership of 4.05 million shares, worth $48.34 million. The fund held 4.91 million shares at the end of the third quarter.
CIT Group Inc. (NYSE:CIT) is the fourth holding, in which the fund owns 915,652 shares, with a reported value of $47.73 million. The holding represents increase from 812,652 shares disclosed at the end of third quarter of 2013.
Fifth on the list is Assured Guaranty Ltd. (NYSE:AGO), a new position, in which the fund disclosed a $46.12 million stake, which amasses 1.95 million shares. Assured Guaranty Ltd. (NYSE:AGO) is a Bermuda-based holding company. Its operating subsidiaries provide credit enhancement products to the U.S. and international public finance, infrastructure and structured finance markets.