While Christian Leone Stands by this Slumping Stock, Andreas Halvorsen Reveals Stake In This Year’s Largest IPO

Page 2 of 2

The history of RCS’s downfall has little to do with the company itself. Nicholas Schorsch, the founder of RCS Capital, also owns the company that previously went by the name American Realty Capital Properties and was plagued by a $23 million accounting error in 2014. As a result of this many brokerage firms suspended their contracts to sell RCS’s wholesale products.

The hedge funds that we track at Insider monkey have generally overlooked RCS Capital Corp (NYSE:RCAP) during the second quarter. A total of 19 funds had an aggregate investment worth $157.81 million in the company at the end of end June, representing more than 26% of the company’s market value. This marked a slide from 25 funds holding $260.44 million in stocks at the end of March. Besides Luxor Capital Group, the two largest stockholders were Israel Englander‘s Millennium Management and Ken Griffin‘s Citadel Investment Group with respective holdings of 2.55 million shares valued at $19.54 million and 2.46 million shares valued at $18.85 million.

Disclosure: None

Page 2 of 2