Poor Second Quarter And Investor Withdrawals Prompt Shakeup At Fortress Investment Group LLC (FIG)

Springleaf Holdings Inc (NYSE:LEAF) was in the number one spot in the equity portfolio of Fortress Investment Group. The fund manager held 73.44 million shares in its portfolio, with a market value of $3.80 billion at the end of the first quarter. The shares of Springleaf Holdings Inc (NYSE:LEAF) have grown 34.06% year-to-date, however those gains came during a big first quarter; shares actually declined by 11.31% during the second quarter. Smart money maintained a bullish outlook on the stock, with aggregate hedge fund holdings increasing to $3.97 billion by the end of the first quarter compared to the holdings of $2.76 billion a quarter earlier, though as mentioned, the big appreciation of the company’s shares during that time accounted for those gains. Springleaf Holdings Inc (NYSE:LEAF) did lose one hedge fund investor in the first quarter with 15 hedge fund managers holding a position in the company by the end of it. Michael Barnes & Arif Inayatullah’s Tricadia Capital Management was another shareholder of the company, with a position including 1.45 million shares valued at $74.97 million at the end of the first quarter.

Nationstar Mortgage Holdings Inc (NYSE:NSM) comes at number two in the equity portfolio of Fortress Investment Group, which owned 67.58 million shares of the company valued at $1.67 billion and representing 74.27% of the outstanding shares of the company. It also represented 23.2% of the fund’s public equity portfolio, and over 75% when combined with the firm’s Springleaf holding. The shares of the real estate company have suffered throughout 2015, with shares declining by 37.79% year-to-date, and by 32.18% in the second quarter alone. Steve Cohen’s Point72 Asset Management reported heavy buying of the company’s shares in June on their weakness, with Cohen’s current position in the company including 5.64 million shares, much higher than his reported ownership of 718,300 shares in his previous 13F filing. He is also among the major stockholders of the company, now owning 5.2% of the outstanding common shares of Nationstar Mortgage Holdings Inc (NYSE:NSM).

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