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General Electric Company (GE), Microsoft Corporation (MSFT): Blue Chips And Investment Trusts Among This Hedgie’s Top Picks

The fifth largest position of Redmond Asset Management is CapitalSource, Inc. (NYSE:CSE). Redmond has actually decreased the fund’s exposure to the Los Angeles, CA based credit provider, but only by 1,000 shares. The stock of CapitalSource, Inc.(NYSE:CSE) has continued to grow in 2013, reaching a high of $9.86 in March. It has recently faced downgrades from Barclays PLC (ADR) (NYSE:BCS) and other firms, while JPMorgan Chase & Co. (NYSE:JPM) has upgraded it to Market Outperform. CapitalSource stock has a beta of 0.93 and pays a dividend of $0.54. Is is traded at a trailing P/E ratio of 4.29 while the forward P/E is of 12.87. The analysts estimate earnings to fall in 2013 but grow again in 2014 and revenues to grow in both years. The price range is set at $7.5-$11.

Bottom line

Redmond Asset Management have increased their exposure to stocks of blue chips in a move to balance their 13F equity portfolio. They have also made a significant addition to their top holding – MELA Sciences Inc (NASDAQ:MELA) – which signals their belief the company will turn a profit in the near future.

Disclosure: none

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