Every quarter, many money managers have to disclose what they've bought and sold, via 13F filings. Their latest moves can shine a bright light on smart stock picks.
Today let's look at GMT Capital, a private investment company founded by Thomas Claugus in 1990 that manages several hedge funds and other accounts. Its reportable stock portfolio totaled $3.6 billion in value as of June 30, 2012. You don't generally grow that large without doing some things right. The company's Bay Resource Partners hedge fund was named one of the richest 100 last year by Bloomberg. In its first 15 years, it averaged a 20% annual return, almost twice that of the S&P 500.
So what does GMT Capital's latest quarterly 13F filing tell us? Here are a few interesting details.
New holdings include Enerplus
Sequenom, which makes molecular and genetic diagnostic tests, has signed up insurers to cover its offerings, but also lost one in Coventry Health Care. (Coventry is being bought by Aetna, though, so this decision might be revisited.) One of the company's tests checks for Down syndrome in a noninvasive manner, which should be of interest to many older pregnant women. Future tests might address conditions such as macular degeneration. Meanwhile, the company is expanding its reach abroad, and some insiders have been snapping up shares,
Among holdings in which GMT Capital increased its stake was drilling-services giant Halliburton
GMT Capital reduced its stake in lots of companies, including Latin American telecom provider NII Holdings
Finally, GMT Capital unloaded several companies, such as Arch Coal
We should never blindly copy any investor's moves, no matter how talented the investor. But it can be useful to keep an eye on what smart folks are doing. 13F forms can be great places to find intriguing candidates for our portfolios.
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