King Street Capital is one of the largest and most successful of the distressed-debt hedge-fund firms. It primarily invests in distressed companies, equity, bonds, foreign exchange, warrants, and options, and it does a good job at it. King Street Capital even reported positive returns of roughly 2.5 percent in 2008, when most of the industry lost their shirts. In fact, the fund has never had a down year. The firm invests in the public equity and fixed income markets across the globe.
King Street Capital is one of the largest and most successful of the distressed-debt hedge-fund firms. It primarily invests in distressed companies, equity, bonds, foreign exchange, warrants, and options, and it does a good job at it. King Street Capital even reported positive returns of roughly 2.5 percent in 2008, when most of the industry lost their shirts. In fact, the fund has never had a down year. The firm invests in the public equity and fixed income markets across the globe.
King Street Capital was co-founded by Brian Higgins, with O. Francis Biondi, in 1995. Brian Higgins ran King Street Capital for more than a decade before turning the reins over to Kieran Goodwin. Goodwin was in charge of trading there for six years. He is stepping down in March, at which point Brian Higgins will resume the lead trading role at the firm.
| Fund Name: | King Street Capital |
| Manager | Brian J. Higgins |
| Portfolio Value | $451,945,000 |
| Change This QTR | +1.77% |
| No. | Security | Ticker | Shares | Value (x$1000) | Activity | % Port |
|---|---|---|---|---|---|---|
| 1.) | VMED | 2,800,000 | $102,900 | +264% |
22.76% | |
| 2.) | MTG | 63,000,000 | $47,323 |  |
10.47% | |
| 3.) | MGM | 4,000,000 | $46,560 |  |
10.3% | |
| 4.) | AIG | 1,000,000 | $35,300 | |
7.81% | |
| 5.) | KMI | 9,250,000 | $34,965 | +3% |
7.73% | |
| 6.) | Transocean LtdCALL |
RIG | 750,000 | $33,495 | |
7.41% |
| 7.) | STSA | 1,490,000 | $31,141 | -21% |
6.89% | |
| 8.) | GNW | 3,600,000 | $27,036 | |
5.98% | |
| 9.) | BAC | 1,500,000 | $17,415 | |
3.85% | |
| 10.) | UCBI | 1,731,805 | $16,348 | -1% |
3.61% |
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