The Eclectic Mix of Stocks That Front Centerbridge Partners’ Portfolio

#3 Macy’s, Inc. (NYSE:M)

 – Shares held (as of September 30): 1.85 million

 – Total Value (as of September 30): $94.69 million

Centerbridge hiked its stake in Macy’s, Inc. (NYSE:M) by 54% during the third quarter, despite a nearly 41% fall in the company’s shares this year. Hedge funds within our database were also generally bullish on the company, as a total of 67 firms had investments worth $1.59 billion in the company at the end of September, compared to 61 funds with $2.20 billion in shares at the end of the previous quarter. The stock fell by about 25% during this period. Jeffrey Smith’s Starboard Value LP heads this list, owning over 3.26 million shares of Macy’s, Inc. (NYSE:M).

#2 Ally Financial Inc (NYSE:ALLY)

 – Shares held (as of September 30): 6.53 million

 – Total Value (as of September 30): $133.04 million

Centerbridge cut its stake in Ally Financial by 24% during the July-to-September period. In its financial results for the third quarter Ally Financial Inc (NYSE:ALLY) delivered EPS of $0.51 which was in-line with the estimates, while its revenue of $981 million represented a 4.8% increase on a year-over-year basis. Stephen Feinberg‘s Cerberus Capital Management and Richard Perry’s Perry Capital are the two largest stockholders of Ally Financial Inc (NYSE:ALLY) within our database, with respective holdings of 41.52 million shares and 22.60 million shares.

#1 Extended Stay America Inc (NYSE:STAY)

 – Shares held (as of September 30): 47.66 million

 – Total Value (as of September 30): $799.76 million

Centerbridge remains heavily invested in Extended Stay America Inc (NYSE:STAY), with its unchanged holding of the stock representing about 46.47% of its portfolio and 19% of the company’s outstanding stock. The company managed to beat both the top and bottom line estimates in its financial results for the third quarter, with operating margin improving by 310 basis points year-over-year to 56.2%, owing to higher room rates. Recently, Extended Stay also announced a secondary offering of 15 million shares. John Paulson‘s Paulson & Co holds an identical 47.66 million shares stake in Extended Stay America Inc (NYSE:STAY).

Disclosure: None