Manikay Partners Top Picks: Bank of America Corp (BAC), American International Group Inc. (AIG) & More
In the current round of 13F filings, hedge funds and other institutional investors are disclosing their equity portfolios as held at the end of the last year. In its latest 13F, Manikay Partners, managed by Shane Finemore, disclosed its holdings as held at the end of the fourth quarter of 2013.
The total value of the portfolio amounted to $1.04 billion, compared to $1.06 billion disclosed at the end of the third quarter. In this article, we will talk about the top five holdings of the fund in terms of value.
The first on the list is Bank of America Corp. (NYSE:BAC), in which the fund disclosed a $93.42 million stake, which amasses 6.0 million shares. Last week, Bank of America Corp. (NYSE:BAC) announced that it extended $10.9 billion in new loans to small businesses in 2013, a 26% increase over 2012.
The second-largest holding in Manikay Partners’ equity portfolio is represented by American International Group Inc. (NYSE:AIG), in which the fund owns 1.71 million shares, worth around $87.50 million.
In Citigroup Inc (NYSE:C), the fund disclosed ownership of 1.65 million shares, with a reported value of about $85.98 million. Citigroup Inc. (NYSE:C) reported net income for the fourth quarter 2013 of $2.7 billion, or $0.85 per share, on revenues of $17.8 billion.
The next on the list is Constellation Brands, Inc. (NYSE:STZ), in which the fund disclosed an $80.94 million stake, which amasses 1.15 million shares. At the end of third quarter of 2013, the fund owned 1.30 million shares of the company.
The fifth-largest holding is Health Management Associates Inc (NYSE:HMA), a new position in which the fund disclosed ownership of 5.41 million shares, worth around $70.81 million. On Jan. 22, Community Health Systems (NYSE:CYH) and Health Management Associates Inc (NYSE:HMA) announced that they have reached an agreement with the Federal Trade Commission (FTC) for the merger of the companies. The deal is expected to be completed by the end of January 2014.