Serengeti Asset Management Is Fond of These Stocks

New York-based Serengeti Asset Management is managed by Jody Lanasa and Vivian Lau. The fund, which was founded in 2007, invests in distressed debt, structured finance and equities. It has $1.5 billion of assets under management. Prior to launching Serengeti, Lanasa worked at Goldman Sachs Group Inc (NYSE:GS) for nine years, where also worked Vivian Lau.

Apollo Global Management LLC (NYSE:APO)

In its latest 13F, Serengeti revealed positions in 46 holdings. The value of the fund’s equity portfolio amounted to $1.1 billion, up from $797.7 million reported at the end of the third quarter of 2013. We have selected the top five holdings in term of value from the Serengeti’s equity portfolio. These five holdings account for over 40% of the portfolio.

Apollo Global Management LLC (NYSE:APO) is occupying the top position. APO is a global alternative investment manager. Serengeti owns 2.53 million class A shares of the company, slightly down from 2.56 million shares disclosed previously. The value of holding amounts to around $79.8 million. Another investor Thomas E. Claugus Gmt Capital holds 5.0 million shares, worth $158.2 million. Last month, Apollo Global Management LLC announced the acquisition of CEC Entertainment Inc (NYSE:CEC).

Serengeti started a new position in EASTMAN KODAK CO (NYSE:KODK). The fund currently owns 2.10 million shares, with a reported value of $72.9 million. New York-based KODK is engaged in business of imaging solutions and services. The company has a market cap of $1.25 billion. One of the largest stockholders of KODK is Jon Bauer‘s Contrarian Capital, which holds 4.53 million shares.

In Williams Companies Inc. (NYSE:WMB), Serengeti’s position remains unchanged over the quarter. The fund revealed owning 1.30 million shares, worth around $50.1 million. WMB, an energy infrastructure company in North America, has a market cap of $28.9 billion. Recently, Williams Partners L.P. (NYSE:WPZ) announced that it completed the transaction to acquire WMB’s currently in-service Alberta, Canada, operations for $1.2 billion.

Recently, Keith Meister‘s Corvex Capital increased its stake in Williams Companies to 41.6 million shares, from 39 million shares. Corvex and Eric W. Mandelblatt‘s Soroban Capital earlier signed an agreement to work together on issues regarding their investment in Williams Companies. Together, they hold 62.6 million shares, which account for 9.17% of the company’s common stock, out of which, Soroban Capital owns 21 million shares.

Serengeti upped its stake in W.R. Grace & Co. (NYSE:GRA) to 500,000 shares, worth $49.4 million, from 335,000 shares, reported in the previous quarter. GRA produces and markets specialty chemicals and specialty materials. In its latest 13F, York Capital Management, led James Dinan, disclosed owning around 3.58 million shares of GRA.

KKR & Co. L.P. (NYSE:KKR) is a global investment company, in which Serengeti reported ownership of 2.0 million shares, worth $48.7 million. The position represents a slight decrease from 2.1 million shares held previously. For 2013, the company posted a return on equity of 27.4% and its after-tax economic net income amounted to $1.08 and $2.99 per adjusted unit for the quarter and year ended December 31, 2013, respectively, up from $0.48 and $2.90 a year ago.

In addition, Serengeti started a new position in Constellation Brands Inc. (NYSE:STZ), in which it owns 130,000 shares, with a reported value of $9.1 million. Concurrently, the fund sold out  its positions in Apple Inc. (NASDAQ:AAPL) and Boise Inc. (NYSE:BZ), previously holding 4,300 shares, and 650,000 shares respectively.

Disclosure: none

Recommended reading:

Stephen Mandel’s Lone Pine Discloses 6.4% Stake in SouFun Holdings (SFUN)

Mario Gabelli is Bullish on Lawson Products Inc. (LAWS)

Robert Lynch and Aristeia Capital’s Oil & Gas and Financial Picks

Biotech Insider Alert - $6 Stock To Hit $40

$200 Million Dollar Healthcare Hedge Fund's #1 Best Idea Right Now

The best healthcare hedge fund out there right now is one of the largest shareholders in this biotech stock. The fund returned more than 20% in each of the last 2 years with a virtually fully hedged portfolio, and it's sending out a BUY signal on this biotech stock. Get your FREE REPORT today (retail value of $300)

This is a FREE report from Insider Monkey. Credit Card is NOT required.
Click here to Read Comments
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 74 percentage points in 2.5 years. Our beta is only 1.2 (download a FREE newsletter and see the details inside)

Lists

Best Selling Magazines in the World

Shortest People in History

The Most Celebrated Holidays in the World

Most Expensive Handbag Brands in the World

Top Selling Comic Book Issues of this Century

The Most Powerful Women in Politics

Best Paid DJs

Most Rebellious Female Artists

Best Paid TV Actresses of 2014

Best Paid Actors of 2014

Most Expensive Horses in the World

Tallest People Ever

Most Encouraging Feminist Celebrities

Best Paid Supermodels of 2014

Top 10 Suburbs for Retirement in 2015

10 Wealthiest Cities in America

Top 10 TED Talks for Entrepreneurs

Best TED Talks on Education

25 Most Dangerous Places to Live in America

Top 10 Ski Resorts in the United States – 2014 List

Top 10 Most Remote Places in the World

Most Visited Museums in the United States

Wealthiest Photographers in the World

Most Famous Gay Athletes

The World’s Most Famous Circuses

Best Hair Stylists

Most Popular NASCAR Drivers

The Best Romance Movies of all Time

The Most Wanted Drug Lords

The Oldest Money Managers

The Greatest Directors in the World

Largest Animals in the World

World’s Most Expensive Desserts

Best Selling Comic Books of All Time

A-list Actors who Sabotaged Their Career

Rappers With a College Degree

The Best Jazz Albums of all Time

The Most Influential Jazz Musicians

The World’s Most Famous Photographers

The Best Oscar-Winning Songs

Most Influential Choreographers Ever

Most Expensive Department Stores in the World

The Most Expensive Stolen Paintings in the World

The World’s Most Expensive Teas

Top Oscar Record Holders

The Most Expensive Flowers in the World

Countries With a Booming Film Industry

Most Expensive Cupcakes in the World

Uncommon European Escapes

The Most Stolen Artists in History

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 129% in 2.5 years!! Wondering How?

Download a complete edition of our newsletter for free!