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New Additions Highlight Kyle Bass’ Top Stock Picks for Q4

#3 CF Industries Holdings, Inc. (NYSE:CF)

Shares held (as of September 30): 464,101

Total Value (as of September 30): $20.84 million

Another newly-initiated stake by Bass during the July-to-September period, Hayman Advisors’ top bet in the fertilizer industry has seen its stock price fall by more than 13% so far this year. In comparison, the industry has posted average losses of 9.26% during the same period. The hedge funds that we track were generally bullish on the company during the third trimester, as a total of 50 funds had an aggregate investment worth $1.91 billion in the company at the end of September, compared to 47 firms with $2.29 billion worth of shares at the end of the June quarter. The stock fell by more than 30% during this period. D.E Shaw heads the list of CF Industries Holdings, Inc. (NYSE:CF)’s stockholders within our database, owning about 11.52 million shares valued at $517.33 million.

#2 Impax Laboratories Inc (NASDAQ:IPXL)

Shares held (as of September 30): 606,618

Total Value (as of September 30): $21.36 million

So far this year, the stock price of the specialty pharmaceutical company has accelerated by more than 38%. In its financial results for the third quarter, Impax Laboratories Inc (NASDAQ:IPXL) delivered EPS of $0.40, which was $0.01 more than estimates, while its revenue of $221.1 million was also $6.65 million above expectations and marked a 39.9% increase from the same quarter of last year. Jonathan Auerbach‘s Hound Partners held 7.11 million shares of Impax Laboratories Inc (NASDAQ:IPXL) at the end of September.

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#1 NMI Holdings Inc (NASDAQ:NMIH)

Shares held (as of September 30): 7.37 million

Total Value (as of September 30): $56.02 million

Hayman has held a stake in NMI Holdings Inc (NASDAQ:NMIH) since the company’s IPO in the fourth quarter of 2013, and the firm remains a champion of it, adding some 1.88 million shares to the holding in the third quarter. NMI Holdings changed the way it prices borrower-paid mortgage insurance (BPMI) some months back, which has led to less competitive pricing for borrowers with FICO scores less than 740. However, for borrowers with a lower probability of default, it offers more competitive pricing than other players in the market. Howard Marks‘ Oaktree Capital Management owns about 5.47 million shares of NMI Holdings Inc (NASDAQ:NMIH).

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Disclosure: None

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