Kyle Bass, managing member and principle of Dallas-based Hayman Advisors LP, slashed his equity exposure in the second quarter, exiting eight positions and reducing three others. He bought four new stocks.
Bass is a macro-focused investor who achieved a 340% return in his first four years with Hayman. In each of the last several quarters, he made concentrated bets on companies within the same sector. In the fourth quarter of 2011, it was oil and gas. In the first quarter of 2011, it was tech. In the second quarter of 2012, he is more varied, with almost equal weightings in consumer services and technology, and smaller apportioning in consumer goods, oil and gas, and industrials.
Bass’ newest reported positions are: Electronic Arts (EA, Financial), Magnum Hunter Resources (MHR, Financial), Whiting USA Trust II (WHZ, Financial) and GasLog Ltd. (GLOG, Financial).
Electronic Arts (EA)
Bass purchased 600,000 shares of Electronic Arts at an average price of $14.33 in the second quarter of 2012. He previously sold out a position of 450,000 shares in the first quarter of 2011 at an average price of $18. The company now accounts for 9.3% of Bass’ portfolio.
Electronic Arts operates in two principal business segments globally: EA Core business segment: creation, marketing and distribution of entertainment software and the EA. Electronic Arts has a market cap of $4.16 billion; its shares were traded at around $13.75 with a P/E ratio of 43.6 and P/S ratio of 1.
Magnum Hunter Resources Corp. (MHR)
Bass purchased 950,000 shares of Magnum Hunter Resources at an average price of $5, equating to 5% of his portfolio.
Magnum Hunter Resources Corp., formerly Petro Resources Corp., is an independent oil and gas company engaged in the acquisition, drilling and production of oil and natural gas properties and prospects within the U.S. Magnum Hunter Resources Corp. has a market cap of $649.6 million; its shares were traded at around $4.309 with and P/S ratio of 5.
Whiting USA Trust II (WHZ)
Bass purchased 160,802 shares of Whiting USA Trust II in the second quarter. The stock has dropped 20% year to date to trade for $4.33 on Friday.
Whiting USA Trust II is formed to own a term net profits interest in interest in oil and gas producing properties located in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the U.S. Whiting USA Trust II has a market cap of $385.3 million; its shares were traded at around $19.622 . The dividend yield of Whiting USA Trust II stocks is 4.6%.
GasLog Ltd. (GLOG)
Bass purchased 47,830 shares of GasLog Ltd. at an average price of $11 in the second quarter.
GasLog Ltd. is an owner, operator and manager of liquefied natural gas carriers. GasLog Ltd. has a market cap of $613.5 million; its shares were traded at around $10.22.
See Kyle Bass’ portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Kyle Bass.
Bass is a macro-focused investor who achieved a 340% return in his first four years with Hayman. In each of the last several quarters, he made concentrated bets on companies within the same sector. In the fourth quarter of 2011, it was oil and gas. In the first quarter of 2011, it was tech. In the second quarter of 2012, he is more varied, with almost equal weightings in consumer services and technology, and smaller apportioning in consumer goods, oil and gas, and industrials.
Bass’ newest reported positions are: Electronic Arts (EA, Financial), Magnum Hunter Resources (MHR, Financial), Whiting USA Trust II (WHZ, Financial) and GasLog Ltd. (GLOG, Financial).
Electronic Arts (EA)
Bass purchased 600,000 shares of Electronic Arts at an average price of $14.33 in the second quarter of 2012. He previously sold out a position of 450,000 shares in the first quarter of 2011 at an average price of $18. The company now accounts for 9.3% of Bass’ portfolio.
Electronic Arts operates in two principal business segments globally: EA Core business segment: creation, marketing and distribution of entertainment software and the EA. Electronic Arts has a market cap of $4.16 billion; its shares were traded at around $13.75 with a P/E ratio of 43.6 and P/S ratio of 1.
Magnum Hunter Resources Corp. (MHR)
Bass purchased 950,000 shares of Magnum Hunter Resources at an average price of $5, equating to 5% of his portfolio.
Magnum Hunter Resources Corp., formerly Petro Resources Corp., is an independent oil and gas company engaged in the acquisition, drilling and production of oil and natural gas properties and prospects within the U.S. Magnum Hunter Resources Corp. has a market cap of $649.6 million; its shares were traded at around $4.309 with and P/S ratio of 5.
Whiting USA Trust II (WHZ)
Bass purchased 160,802 shares of Whiting USA Trust II in the second quarter. The stock has dropped 20% year to date to trade for $4.33 on Friday.
Whiting USA Trust II is formed to own a term net profits interest in interest in oil and gas producing properties located in the Rocky Mountains, Permian Basin, Gulf Coast and Mid-Continent regions of the U.S. Whiting USA Trust II has a market cap of $385.3 million; its shares were traded at around $19.622 . The dividend yield of Whiting USA Trust II stocks is 4.6%.
GasLog Ltd. (GLOG)
Bass purchased 47,830 shares of GasLog Ltd. at an average price of $11 in the second quarter.
GasLog Ltd. is an owner, operator and manager of liquefied natural gas carriers. GasLog Ltd. has a market cap of $613.5 million; its shares were traded at around $10.22.
See Kyle Bass’ portfolio here. Also check out the Undervalued Stocks, Top Growth Companies and High Yield stocks of Kyle Bass.
