Berkley W R Corp Portfolio Analysis
Berkley W R Corp just filed its quarterly 13F. Dated 12/02/2016, the report shows the investment professional has a portfolio value of $599.32 million, representing a decrease of $140.95 million from the previous quarter when it was $740.26 million. Note: This filling reprents only assets that which are listed in the US.
|Previous Mkt Value:||$740,264,000|
|Chg Mkt Value %:||-19.04 %|
|Turnover %:||38.67 %|
|Top 10 Holdings %:||81.64%|
In this quarter, Berkley W R Corp opened new positions in City Natl Corp (CYN) for $19.49 million, Hcc Ins Hldgs Inc (HCC) for $19.09 million, Precision Castparts Corp (PCP) for $15.24 million, Sigma Aldrich Corp (SIAL) for $11.44 million and Precision Castparts Corp (Call) (PCP) for $10.57 million. These were the 5 biggest new positions. In total the investment professional bought 46 new stocks.
|Top 5 New Buys|
|City Natl Corp||3.25%|
|Hcc Ins Hldgs Inc||3.19%|
|Precision Castparts Corp||2.54%|
|Sigma Aldrich Corp||1.91%|
|Precision Castparts Corp (Call)||1.76%|
|13F Sector Allocation|
|Information Technology||4 %|
As revealed in this report the investment professional increased its stakes in Quinpario Acquisition Corp 2 by 23% to $14.08 million, Dealertrack Technologies Inc (TRAK) by 382% to $14.62 million, Ar Cap Acquisition Corp (AUMA) by 164% to $7.69 million, Hydra Inds Acquisition Corp by 17% to $3.26 million and Garnero Group Acquisition Co (GGAC) by 7% to $2.73 million. Berkley W R Corp also acquired smaller stakes in Atlantic Alliance Partner Co by 209.77% to $1.44 million. Building positions gradually is normal investing practice for many hedge funds.
This fund got rid of its stakes in Baxter Intl Inc (BAX), Directv (DTV), Igate Corp (IGTE), Babcock & Wilcox Co New (BWC) and Susquehanna Bancshares Inc P (SUSQ). These securities constituted 3.40 %, 2.40 %, 2.26 %, 1.57 % and 1.28 % of the manager’s portfolio, respectively. We can only speculate about the reasons for the selling but we believe it has to do with either value, momentum or a better place for Berkley W R Corp’s capital.
The fund also decreased its postitons in Healthequity Inc (HQY) by -16.12%, Potash Corp Of Saskatchewan Inc (POT) by -0.01%, Terrapin 3 Acquisition Corp (TRTL) by -1.39%, Roi Acquisition Corp Ii (ROIQ) by -2.44% and Dealertrack Technologies Inc (Put) (TRAK) by -86.24%.
Top 5 Holdings
Healthequity Inc (HQY), Potash Corp Of Saskatchewan Inc (POT) and City Natl Corp (CYN) made up the majority of Berkley W R Corp’s total US long portfolio in Q3 2015. These holdings were top 3 and constitute 66% of Berkley W R Corp’s US-listed securities. The top 10 holdings make approximately 81.64% of the reported fund’s portfolio.
It seems Berkley W R Corp holds concentrated portfolio. We wonder do they believe, same as many legendary traders, that diversification is losing approach? The picture above provides a snapshot of Berkley W R Corp’s top 10 US-listed equity positions in Q3 2015.
Berkley W R Corp increased the finance sector from 7 % to 9 %. According to the report, the fund also has securities for 4 % in the information technology sector. The industrials sector is 4 % of Berkley W R Corp’s US-listed long portfolio. The fund decreased the Consumer Discretionary, Health Care and Energy sector holdings by 1 %, 2 % and 2 %, respectively.
So these are Q3 2015 fund’s sector weights now: finance 9 % for $53.94 million, materials 6 % for $35.96 million, information technology 4 % for $23.97 million, industrials 4 % for $23.97 million, consumer discretionary 1 % for $5.99 million, transports 1 % for $5.99 million and health care 1 % for $5.99 million.
Important Position Changes
Top 10 Q3 2015 New Positions: City Natl Corp (CYN), Hcc Ins Hldgs Inc (HCC), Precision Castparts Corp (PCP), Sigma Aldrich Corp (SIAL), Precision Castparts Corp (Call) (PCP), Gores Holdings Inc, Freescale Semiconductor Ltd (FSL), Boulevard Acquisition Corp, Con (CNW) and Hennessy Capital Acquisition.
Top 10 Q3 2015 Sold Out Completely: Baxter Intl Inc (BAX), Directv (DTV), Igate Corp (IGTE), Babcock & Wilcox Co New (BWC), Susquehanna Bancshares Inc P (SUSQ), Rock (RKT), Heritage Finl Group Inc (HBOS), Rti Intl Metals Inc (RTI), Hudson Valley Holding Corp (HVB) and Westrock Co.
Download the full 13F form in CSV: Q3-2015-Berkley-W-R-Corp-13F-Portfolio-Stock-Holdings.csv
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13F Filing Link: 000114036116052292
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