Mason Capital is a New York-based asset management firm that was launched by Kenneth Mario Garschina in 2000. It provides an additional office in London England. On March 28th, 2017, the fund managed around $3.5 billion in assets. Before launching his own hedge fund, Mr. Garschina worked at KS Capital Partners, first as a Research Analyst until he reached positions of Portfolio Manager and Director of Research. Prior to KS Capital Partners, he was employed at Cursitor-Alliance Capital Management as a Research Analyst. He graduated with a BA in Economics from the College of the Holy Cross. In this article, we are going to highlight Mason Capital’s most important Q1 2019 investment moves.
Insider Monkey’s flagship strategy identifies the best performing 100 hedge funds at the end of each quarter and invests in their consensus stock picks. This way it is always invested in the best ideas of the best performing hedge funds and is able to generate much higher returns than the market. Since its inception in May 2014, our flagship strategy generated a cumulative return of 103%, beating the S&P 500 ETF (SPY) by nearly 38 percentage points (see the details here). Our best performing hedge funds strategy also returned 26.4% year-to-date and outperformed the S&P 500 Index by nearly 12 percentage points. We take a closer look at hedge funds like Mason Capital in order to identify their best and worst ideas.
At the end of March 2019, Mason Capital’s equity portfolio was valued $465.37 million, down by 82.42% from one quarter earlier when it carried a value of $2.65 billion. Its portfolio was concentrated, counting only 8 long positions, out of which half were new additions. Those were Fox Corporation (NASDAQ:FOXA), Versum Materials, Inc. (NYSE:VSM), The Madison Square Garden Company (NYSE:MSG), and Uniti Group Inc. (NASDAQ:UNIT). During the quarter the also existed 5 positions, among which the top one included Dell Technologies Inc. (NYSE:DELL), Resideo Technologies, Inc. (NYSE:REZI), and FGL Holdings (NYSE:FG). Other changes to its equity portfolio during the quarter included lowering stakes in Xerox Corporation (NYSE:XRX), and The Liberty Braves Group (NASDAQ:BATRK).
This article is originally published at Insider Monkey.