I've been waiting nearly a year to see what equities Baupost-alum Herb Wagner's Finepoint Capital holds in its portfolio. Finally, his equity positions have reached the reporting threshold!
Wagner was #2 at Baupost for several years, and highly thought of in value circles.
For a fund that's roughly $2 billion, Wagner's equity positions are (understandably, given the paucity of value investments out there right now) small. As of 12/31/14, equities listed on US exchanges totaled a tad less than $230 million (so, he's roughly 90% invested elsewhere).
One has no idea when these positions were initiated (he could have held them since the fund's inception in early 2014 and added to them, or the positions have grown organically) - we'll know more in three months if he's added to any of these positions, or initiated new positions.
Here goes:
Ally Financial $82.8 million
Cheniere Energy $67.6 million
YPF Sociedad $40.5 million
NCR Corp $22 million
IRSA Inversiones $12.7 million
Cresud SA $4.1 million
Interestingly, he must still compare notes with his comrades at Baupost, as Cheniere (ticker: LNG) is a major holding of both funds.
Also, YPF, IRSA, and Cresud are all Argentinian, so he sees some value down in the land of the Pampas.
I look forward to Finepoint's next 13-F in May to see where he might allocate capital... |
