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

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 Top Reasons For Getting Fired

The 3 Best States to Start an LLC

10 Jobs That Allow You to Travel

7 High-Paying Jobs You Can Do From Home

12 Best Cities to Shop in USA

10 Best States To Practice Medicine

The 10 Best States to Have a Business

The 12 Most Expensive Apple (AAPL) Apps in the Market

The 10 Richest Billionaires in the World

10 Biggest Kickstarter Failures

The 10 Best Places to Work At

The Top 10 of Google Inc (GOOGL)’s Most Expensive Acquisitions

13 Best Cities to Visit in South America

10 Most Expensive Works of Art of All Time

The 10 Richest Banks in the World

The 10 Best-Paying Jobs in America (2014)

7 Most Expensive Foods in the World

The World’s Top 10 Earning Authors

Five Wicked and Very Expensive Items (and Other “Stuff”) Sold on eBay

10 Biggest Celebrity Bankruptcies

The Top 10 Highest Paid CEOs in 2014

The 10 Most Expensive Real Estate Cities in America

10 Most Expensive States To Live In America

The 10 Best Airlines in the World

The 10 Best-Selling Cars in 2014

The 10 Best Industries to Invest In

The 10 Most Expensive States to Own a Car In

Top 10 Business Schools in US: 2014 Rankings

Top 20 Female Billionaires in 2014

6 Movies That You Should Watch to Better Understand The Cold War

Top 15 Best Paying Jobs for Women in 2014

Top 6 Things Rich People Do Differently Every Day

5 Retirement Mistakes To Avoid (and Einstein’s Famous Quote)

11 Smartest People in the World

6 Films About the Financial World You Need To Watch (While “The Wolf” is Not Around)

Warren Buffett and Billionaires Are Crazy About These 7 Stocks

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

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!