Thomas E. Claugus is the hedge fund manger of GMT Capital, which was founded in 1990 and is responsible for management of several hedge funds with a focus on long-term value. In the latest round of 13F filings, GMT Capital disclosed all of its equities as of the end of the second quarter of the year. Following the activity of various hedge funds is important because watching the hedge fund sentiment can lead to market-beating opportunities; discover the secrets here.
In this way, let’s take a look at the most recent 13F portfolio of GMT Capital and especially let’s focus on some of the largest picks.
As follows, the hedge fund disclosed its largest stake as a $323.6 million position in United Continental Holdings Inc (NYSE:UAL). The position contains about 10.3 million shares, declining slightly from the previous amount of some 10.5 million shares, worth $334.8 million. The stock of United Continental increased by almost 32% since the beginning of the year, while its forward P/E amounts to 6.5x.
Aside from GMT Capital, we should mention some other stars from the hedge fund universe also bullish on United Continental Holdings Inc (NYSE:UAL), such as David Tepper’s Appaloosa Management Lp and Legg Mason Capital Management.
The second position is held by Celanese Corporation (NYSE:CE), represented in GMT Capital’s equity portfolio by almost 6.2 million shares, valued at $277.4 million. The position in Celanese remained almost flat over the quarter, while its value increased from the previous sum of $273.8 million. Trailing a forward P/E of 9.7x and a PEG ratio of almost 1.7, the stock of Celanese Corporation (NYSE:CE) has a year-to-date return of slightly below 11.2%.
And now, let’s take a look at some smaller but also notable positions disclosed by GMT Capital in its most recent 13F filing with the Securities and Exchange Commission. In Canadian Natural Resource Ltd (USA) (NYSE:CNQ), Claugus’ hedge fund holds 8.4 million shares, worth $234.7 million.
Citigroup Inc. (NYSE:C) and Google Inc (NASDAQ:GOOG) are situated respectively on the fourth and fifth place on our list of GMT Capital’s largest picks, with the hedge fund owning 4.1 million shares, and about 210,925 shares, stake values amounting to $198 million and $185.7 million respectively.
To conclude, we should mention that with a total value of almost $4.4 billion, the equity portfolio of Thomas Claugus’ GMT Capital contains 111 positions, an increase of 16 positions in comparison with the first quarter of the year. With this in mind, Insider Monkey will keep you updated regarding the latest moves made by Thomas E. Claugus and GMT Capital.