Michael Messner’s Seminole Capital Management Co. has filed its 13F with the SEC for the end of second quarter reporting period. The investment firm relies on technical analysis and charting for making its investments, and according to the latest available data, it has in excess of $4.17 billion worth of assets under management. The recent 13F filing of Seminole Capital Management has shown heavy reliance on banking stocks. Capital One Financial Corp. (NYSE:COF), Citigroup Inc (NYSE:C), and Bank of America Corp (NYSE:BAC) are among the top three banking investments of the hedge fund. The firm reported a public equity portfolio valued at $2.47 billion at the end of the second quarter, with its top ten stock holdings accounting for 56% of the overall portfolio. In terms of portfolio composition, Seminole Capital Management has dedicated more than one-third of its overall portfolio towards the finance sector. Its other major investment sectors are utilities & communications, and healthcare.
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Capital One Financial Corp. (NYSE:COF) lands at the top of the equity investments of Seminole Capital Management. The hedge fund boosted its stake in the company by 371% during the second quarter, bringing its investment to 2.67 million shares with a value of $234.77 million. The shares of Capital One Financial Corp. (NYSE:COF) have declined by 12.01% after its second quarter 2015 financial results, as the company reported a drop in earnings per share on a year-over-year basis. The banking institution reported net income of $863 million against prior year net income of $1.2 billion. In terms of its latest acquisition deals, Capital One Financial Corp. (NYSE:COF) is in discussions with General Electric Company (NYSE:GE) to acquire its U.S. Healthcare finance unit for as much as $10 billion. If this deal goes through, it will help Capital One strengthen its healthcare lending operations. At the end of the second quarter, Donald Chiboucis‘ Columbus Circle Investors was among the largest shareholders of the company in our database with net investments worth $239.21 million, consisting of 2.72 million shares of the banking company.