Top 10 FEINBERG STEPHEN Positions in Q3 2015

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Feinberg Stephen 13F Highlights

Feinberg Stephen just filed its Q3 2015 13F. Dated 25/12/2015, the SEC filing shows the investment manager has a portfolio value of $1.20 billion, representing a decrease of $154.73 million from the previous quarter when it was $1.36 billion. Note: This filling reprents only assets that which are listed in the US.

Portfolio Q32015
Market Value:$1,204,671,000
Previous Mkt Value:$1,359,401,000
Chg Mkt Value %:-11.38 %
Sentiment:
Turnover %:2.65 %
Stocks Activity
New Purchases:1
Additional Purchases:1
Sold out:3
Reduced:3
Top 10 Holdings %:100%
Top 5 New Buys
American Cap Mtg Invt Corp2.64%
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13F Sector Allocation
Finance85 %
Energy4 %
Industrials3 %
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Increased Positions

The investment manager didn’t report any lifted holdings in this quarter.

Fund Sells

This fund sold its stakes in Armour Residential Reit Inc (ARR), Hatteras Finl Corp (HTS) and Assured Guaranty Ltd (AGO). These stocks constituted 2.49 %, 0.13 % and 0.03 % of the manager’s portfolio, respectively. We can only speculate about the reasons for this selling but we believe it has to do with either value, momentum or a better place for Feinberg Stephen’s capital.

Portfolio Sold All

Reduced Positions

The fund also cut its postitons in American Capital Agency Corp (AGNC) by -22.77%, Dht Holdings Inc (DHT) by -6.66% and Anworth Mortgage Asset Cp (ANH) by -10.08%.

Top 5 Positions

Ally Finl Inc (ALLY), American Capital Agency Corp (AGNC) and Pacific Datavision Inc made up the majority of Feinberg Stephen’s total US long portfolio in Q3 2015. These securities were top 3 and constitute 90.5% of Feinberg Stephen’s US-listed securities. The top 10 securities make approximately 100% of the fund’s value.

Portfolio Top Holdings

It seems Feinberg Stephen holds concentrated portfolio. We wonder do they believe, same as many legendary traders, that diversification is wrong approach? The table above provides a snapshot of Feinberg Stephen’s top 10 US-listed positions in Q3 2015.

Sector Positions

According to the SEC filing, the fund also has securities for 85 % in the finance sector. The energy sector is 4 % of Feinberg Stephen’s 13f assets.

So these are Q3 2015 fund’s sector weights now: finance 85 % for $1.02 billion, energy 4 % for $48.19 million and industrials 3 % for $36.14 million.

Important Position Changes

Top 10 Q3 2015 New Positions: American Cap Mtg Invt Corp (MTGE).

Top 10 Q3 2015 Sold Out Completely: Armour Residential Reit Inc (ARR), Hatteras Finl Corp (HTS) and Assured Guaranty Ltd (AGO).

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Download the full 13F form in CSV: Q3-2015-Feinberg-Stephen-13F-Portfolio-Stock-Holdings.csv

Research more New York hedge funds in our free database. Read ‘What is a Hedge Fund’ at our Hedge Funds resource page.

Fund New Positions

In this quarter, Feinberg Stephen started position in American Cap Mtg Invt Corp (MTGE) for $31.84 million. 1 is the only new position.

13F Filing Link: 000090571815000915

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