Fortress Investment Group LLC recently filed their 13F report for the fourth quarter of 2022, which ended on 2022-12-31.
The 13F report details which stocks were in a guru’s equity portfolio at the end of the quarter, though investors should note that these filings are limited in scope, containing only a snapshot of long positions in U.S.-listed stocks and American depository receipts as of the quarter’s end. They are not required to include international holdings, short positions or other types of investments. Still, even this limited filing can provide valuable information.
Fortress Investment Group is an investment management company based out of New York. The company began as a private equity firm established by Wesley R. Edens, Robert Kauffman, and Randal A. Nardone in 1998. Randal A. Nardone and Wesley Robert Edens are still with the company today acting as its CEO and CIO, respectively. The company would experience rapid growth, quickly growing from its $400 million initial capital to over $1.3 billion in just a year, and reaching the $10 billion mark by 2005. The company would have its IPO in 2007 on the NYSE and would launch a variety of funds throughout the years. Fortress Investment Group would acquire Logan Circle Partners in 2010, marking its entrance into fixed income asset management, and would begin opening international offices in San Francisco, Shanghai, and Singapore in the following year. The company would begin launching a series of funds at a rate of multiple funds a year beginning in 2012. Fortress Investment Group would create its spinoff company New Residential Investment Corp in 2013 and New Media Investment Group in 2014. The company operates through four core businesses: private equity, liquid markets, credit, and traditional asset management. Fortress Investment Group utilizes a fundamental analysis with a bottom up value strategy to make its investment decisions. The company invests in a variety of public equity, private equity, and alternative investment markets on a global scale, focusing its asset allocations almost exclusively in the finance sector. Fortress Investment Group currently has over 1,000 employees overlooking its business of managing over $72 billion in total assets under management, which has been increasing nearly every year since its inception. The company mainly caters to pooled investment vehicles, although it also offers its services to pension and profit sharing plans, corporations, and others. Fortress Investment Group currently offers private equity, credit, and liquid market services through its main business and offers traditional asset management services through Logan Circle Partners.
As of the latest 13F report, the guru’s equity portfolio contained 133 stocks valued at a total of $940.00Mil. The top holdings were NFE(60.45%), VVNT(31.84%), and NN(4.42%).
According to GuruFocus data, these were Fortress Investment Group LLC’s top five trades of the quarter.
Rithm Capital Corp
During the quarter, Fortress Investment Group LLC bought 16,678,024 shares of NYSE:RITM for a total holding of 19,512,751. The trade had a 13.27% impact on the equity portfolio. During the quarter, the stock traded for an average price of $8.17.
On 02/18/2023, Rithm Capital Corp traded for a price of $9.52 per share and a market cap of $4.51Bil. The stock has returned 0.14% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 4 out of 10.
In terms of valuation, Rithm Capital Corp has a price-earnings ratio of 5.32, a price-book ratio of 0.79 and a price-sales ratio of 1.28.
The price-to-GF Value ratio is 0.43, earning the stock a GF Value rank of 4.
Roth CH Acquisition III Co
The guru established a new position worth 3,086,085 shares in NAS:ROCRU, giving the stock a 3.35% weight in the equity portfolio. Shares traded for an average price of $10 during the quarter.
On 02/18/2023, Roth CH Acquisition III Co traded for a price of $10 per share and a market cap of $0.00Mil. The stock has returned 0.00% over the past year.
There is insufficient data to calculate the stock’s financial strength and profitability ratings.
In terms of valuation, Roth CH Acquisition III Co has a price-earnings ratio of 9999.00 and a price-book ratio of 4957.04.
FTAI Infrastructure Inc
During the quarter, Fortress Investment Group LLC bought 4,631,342 shares of NAS:FIP for a total holding of 5,388,682. The trade had a 1.51% impact on the equity portfolio. During the quarter, the stock traded for an average price of $2.95.
On 02/18/2023, FTAI Infrastructure Inc traded for a price of $3.17 per share and a market cap of $315.14Mil. The stock has returned 0.00% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 1 out of 10.
In terms of valuation, FTAI Infrastructure Inc has a price-book ratio of 0.55, a EV-to-Ebitda ratio of -22.83 and a price-sales ratio of 1.28.
CONX Corp
The guru sold out of their 1,308,164-share investment in NAS:CONX. Previously, the stock had a 1.47% weight in the equity portfolio. Shares traded for an average price of $10.03 during the quarter.
On 02/18/2023, CONX Corp traded for a price of $10.1 per share and a market cap of $947.18Mil. The stock has returned 2.85% over the past year.
GuruFocus gives the company a financial strength rating of 10 out of 10 and a profitability rating of 2 out of 10.
In terms of valuation, CONX Corp has a price-earnings ratio of 28.06, a price-book ratio of 1.31 and a EV-to-Ebitda ratio of -1316.83.
FTAI Aviation Ltd
The guru sold out of their 748,644-share investment in NAS:FTAI. Previously, the stock had a 1.26% weight in the equity portfolio. Shares traded for an average price of $16.79 during the quarter.
On 02/18/2023, FTAI Aviation Ltd traded for a price of $24.59 per share and a market cap of $2.45Bil. The stock has returned 10.78% over the past year.
GuruFocus gives the company a financial strength rating of 3 out of 10 and a profitability rating of 6 out of 10.
In terms of valuation, FTAI Aviation Ltd has a price-book ratio of 94.58, a EV-to-Ebitda ratio of 30.11 and a price-sales ratio of 3.20.
The price-to-GF Value ratio is 0.90, earning the stock a GF Value rank of 7.
Please note, the numbers and facts quoted are as of the writing of this article and may not factor in the latest trading data or company announcements.
When GuruFocus covers insider information, we only track open market or the private purchase and sale of common stock with the transaction code of P or S. Therefore, all the transactions mentioned in this article are only the ones with transaction code of P or S.
Want to provide feedback on this article? Have questions or concerns? Get in touch with us here, or email us at [email protected]!
This article is general in nature and does not represent the opinions of GuruFocus or any of its affiliates. This article is not intended to be financial advice, nor does it constitute investment advice or recommendations. It was written without regard to your individual situation or financial goals. We aim to bring you fundamental, data-driven analysis, The information on this site is in no way guaranteed for completeness, accuracy or in any other way.
