Herb Wagner's Finepoint Capital added three new positions during Q1, bringing the Baupost alum's total US listed equity positions up to nearly $300 million (still, his US equity positions make-up roughly 15% or less of his overall portfolio - not exactly a ringing endorsement of domestic equity valuations - and most of his US equity portfolio is still comprised of Argentinian ADR positions - none of which have been sold-out).
His new additions are:
Ardelyx Inc (ARDX) - a clinical-stage biopharma company focusing on diseases of the GI tract. This tiny position amounts to $1,792,000 - very, very small in his $2 billion portfolio.
Keryx Biopharmaceuticals (KERX) - another instance of Wagner comparing notes with his former Baupost cohorts. KERX amounts to $20,442,000 - roughly/less than 1% of Wagner's portfolio.
Manitowac Inc (MTW) - this heavy equipment manufacturer comprises roughly 2.5% (or less) of Wagner's portfolio - a $51,450,000 position.
Wagner has added a few new shares of YPF Sociedad Anonima (230,000 new shares), and sold over 500,000 shares of NCR Corp - reducing that position to just over $6 million. Wagner held tight in his remaining reported equity positions, neither adding to nor subtracting from his other holdings. |
